Press release
Running Gear Market 2020 by Global Leaders: Adidas, Seiko Epson, Suunto, Altra Running, Stryd, Lumo Bodytech, Fitbit, Xiaomi
The global running gear market is anticipated to gain fast paced ascension over the forecast period of 2017-2023, as per the latest report titled ‘Running Gear Market’ over the forecast period. Changing lifestyle and increasing workload are some of the most significant factors that are driving the global running gear market over the forecast period. People want to invest their time in exercise and fitness activities. Running gears are the accessories that are used by people during running and fitness exercises. Footwear apparels, fitness trackers, and wearable technology in the medical sector is anticipated to drive the global Running Gear Market.
Advancements in technology have increased the adoption of smart wearables in the foreseeable future. Most people use a fitness tracker to track their exercise and health statistics and progress. Presently, hospitals, med-tech companies and pharmaceutical companies, including insurance companies have started to utilize these fitness trackers. The upsurge of the Internet of Things (IoT) is used for interconnecting the uniqueness identifiable embedded computing devices within the existing infrastructure. Several factors are expected to foster the adoption of fitness wearables in the medical sector, including the high rate of consumption of fast food and rising work pressure, especially in the private sector.
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Furthermore, upscaling demand for smartphone within the developing economies of the world are anticipated to pose a challenge in the growth of the global running gear market. Fitbit designs and manufacturers consumer technology gadgets, wearable and health and wellness devices including wrist-based and clippable devices that routinely track daily steps of the user, calories burned, and distance traveled. This has attracted many new fitness conscious consumers to augment the demand for running gear market. The global running gear market is anticipated to gain a 12.97% CAGR through the review period.
Key Players
The prominent players in the global Running Gears Market are – Seiko Epson Corporation (Japan), Garmin International (U.S.), Adidas (Germany), Apple Inc. (U.S.), Fitbit (U.S.), Sensoria Inc (U.S.), Suunto (Finland), Altra Running (U.S.), Stryd (U.S.), Lumo Bodytech (U.S.), among others.
Market Segmentation
The global running gear market is studied for various segments that are based sensors, product, market type, and region. Based on sensors, the global running gear market is segmented into 3-Axis accelerometer sensor, gyroscope sensor, altimeter sensors, temperature sensor, and bioimpedance sensor. Based on product, the global running gear market is segmented into fitness tracker and wearable, footwear and apparels, and software. Based on market type, the global running gear market is segmented into specialty stores, online retail, and departmental stores.
Regional Analysis
The global running gear market is segmented into the regions of North America, Europe, Asia Pacific, and Rest of the World. North America is anticipated to dictate the global running gear market over the review period. It is also estimated to hold around 43% CAGR during the forecast period. North America’s domination over the running gear market is expected to take place due to a high rate of adoption in the region. Europe is expected to successfully take over the second position in the running gear market. Asia Pacific is estimated to take the fastest growth trajectory over the forecast period. However, the Rest of the World segment is anticipated take on a sluggish growth rate over the estimate period.
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