COVID-19 IMPACT SURVEY MAY 2020
Amid the COVID-19 crisis and the looming economic recession, the Wireless Health and Fitness Devices market worldwide will grow by a projected 268.2 Million Units, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 13.1%. Sports & Fitness, one of the segments analyzed and sized in this study, is forecast to grow at over 11.8% and reach a market size of 280.4 Million Units by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Sports & Fitness market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.
As part of the new emerging geographic scenario, the United States is forecast to readjust to a 9.6% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over 8.9 Million Units to the region's size over the next 7 to 8 years. In addition, over 8 Million Units worth of projected demand in the region will come from Rest of European markets. In Japan, the Sports & Fitness segment will reach a market size of 12.8 Million Units by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Wireless Health and Fitness Devices market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world's second largest economy will grow at 15.3% over the next couple of years and add approximately 48.6 Million Units in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Wireless Health and Fitness Devices market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Competitors identified in this market include, among others, Abbott Diabetes Care Inc.; adidas AG; Alive Technologies Pty. Ltd.; Apple Inc.; ASUSTeK Computer Inc.; Beurer GmbH; Fitbit Inc.; Garmin Ltd.; GE Healthcare; Google Inc.; iHealth Labs Inc.; LG Electronics; LifeWatch AG; Medtronic plc; Misfit Inc.; Motorola Mobility LLC; Nike Inc.; Nokia Corporation; Nuubo; Omron Healthcare Co., Ltd.; Philips Healthcare; Polar Electro Oy; Samsung Electronics Co., Ltd.; Under Armour Inc.; Withings SA