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Wearable fitness tracker market growing at a rapid rate

By Dave Howard

A new study from the Consumer Electronics Association (CEA) details the current household penetration rates for consumer electronics.

Once again, TV’s took the number one spot with 97 percent household penetration. DVD and Blu-ray players followed with 78 percent and Smartphones took third place with 72 percent ownership.

The fastest-growing consumer electronics products in household penetration were wearable fitness trackers (11 percent, up 6 percent compared to 2014); digital media-streaming devices (29 percent, up 5 percent); and in-vehicle communication devices (34 percent, up 4 percent).

fitness trackers

Steve Koenig, Market Research Senior Director at CEA said: “A strong consumer appetite for mobile connected devices is causing some very interesting changes in the CE ownership landscape. These mobile devices have greatly influenced the type of content Americans consume, and given birth to new emerging tech categories such as wearable activity trackers and smart home devices that consumers are beginning to embrace more broadly.” (TWICE.com)

A recent Brand View Insight outlined the potential impact of the Apple watch on the wearable devices market. We discussed how the fitness features of smartwatches, such a heart-rate monitoring and pedometers, may appeal to fitness enthusiasts and blur the lines between fitness trackers and smartwatches.

Fitness companies such as FitBit, who currently hold 8.8 percent of the market share for fitness trackers (Statista), will now be competing with the likes of Apple. It will be interesting to see how the growth of the smartwatch market impacts upon the further growth of the wearable fitness tracker market.