Global Running Watches Market Size, Share and Trends Analysis Report, by Type (Pedometer Watches, GPS Watches, Heart Rate Watches, and GPS +HRM Watches), and by Application (Running, Biking, Climbing, Cardio Training, and Others), Forecast Period (2022-2028)

The global running watches market is anticipated to grow at a CAGR of 6.4% during the forecast period. Rising consumer preference for wireless fitness and sports devices, particularly in emerging economies, and increasing disposable income are the major factors driving market growth. Other indirect market growth determinants include continuous advancement in digital wearable technologies, an increase in preference among the young generation, and rising health awareness among individuals. In the long run, increasing e-commerce platform penetration, increased inclination to purchase new and trending products, shifting consumer lifestyle, and rising globalisation and westernisation are attributed as growth opportunities of the market.

Furthermore, the awareness regarding fitness and health is growing primarily in the younger adults and working-class population, and owing to it they are spending more on the devices that track their health and daily activities. The increasing participation of youth and millennial among various sports games and activities such as cycling, running, basketballs and among others to track their activities peoples are opting for the running watches that help in assisting all the daily activities that in turn increasing the demand for running watches market. Additionally, across the globe as the number of the number of athletes and various tournaments increases the demand fot this devices is also high due to this running watches are majorly used by the sports people to track their each and every minute performance.

However, data provided by digital watches is sometimes not completely accurate due to misbalance of factor such as fluctuation in GPS among other, is hindering market growth. Raw material price fluctuations will further challenging the market’s growth. The market players are serving significantly in the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, in order to stay competitive in the market. For instance,

• In June 2022, Garmin launched two new mid-range running watch series with the new Forerunner 255 and 955. Both watches carry multi-band GPS and new racing features such as a race widget. The Forerunner 955 also comes with a touchscreen and solar charging.

 

• In June 2021, Garmin launched a new smart watchForerunner 55 in India that is designed for beginners to track their stats and chase their fitness goals. the primary features including PacePro and cadence alerts which help the runners to focus on their running and training fundamentals

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- Apple Inc., Fitbit, Samsung, Garmin, Suunto, Casio, Polar, Motorola/Lenovo, TomTom, Xiaomi, Apple Inc., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Running Watches Market Report by Segment

By Type

• Pedometer Watches
• GPS Watches
• Heart Rate Watches
• GPS +HRM Watches

By Application

• Running, Biking
• Climbing
• Cardio Training
• Others

Global Running Watches Market Report by Region

North America

• US
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific

Rest of the World

• Latin America
• Middle East & Africa