Running Gear Market Size, Demand, Business Trends, Revenue, Industry Outlook Study, Competitor Strategies to Tackle COVID-19
Research Reports
Mar 08, 2022
Market Highlights
The study reveals that running gears is trending in North America region. The increasing adoption of advanced technologies in running gears are factors driving for the market growth. The smart running gears are widely used in these region as it provides real time coaching that send the feedback via the headphones. In U.S, it is extensively used among sports person ast also helps to improve running form, reduce the chances of injury and among others. It also enhances the running skill, provide the information on pace, distance and time and others.
In North America region, the retail market is growing due to the growing need of user’s demand of running gears. The running shoes are inbuilt with sensors which helps to track the speed, calories burnt, distance covered, and others. The products offered by the companies such as Apple Inc. (U.S.), Fitbit (U.S.), Sensoria Inc. (U.S) have improved these gadgets for better customer experiences. The companies are investing in this market and is estimated to gain huge growth in the coming years.
The global Running Gears Market is growing rapidly over ~16% of CAGR and is expected to reach at USD ~ 15 Billion by the end of forecast 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.
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Key Findings:
- The global running gears market is expected to reach USD 22.54 billion market value by 2023 growing with 12?GR during forecast period 2017-2023.
- By Product, Software accounts for the largest market share and is growing with 14?GR during forecast period.
- By Market Type, Online Retail is dominating the market and has generated USD 5.84 billion market in 2016 and is expected to grow with 14?GR.
- By Sensors, 3-Axis Accelerator Sensor is dominating the market in 2016 and is expected to grow with 13?GR during forecast period 2017-2023.
- Geographically, North America region has been projected to hold the largest market share in global running gears smarket followed by Europe region, while Asia Pacific is expected to drive the market in coming years
Segmentation
The global running gear market is bifurcated on the basis of product, market type, sensor type, and region. The product is segmented into fitness wearable, software, footwear & apparels, and others. The market type is segmented into specialty stores, department stores, online retail and others. The sensor types are segmented 3-axis accelerator sensor, gyroscope sensor, altimeter sensor, temperature sensor, bio-impedance sensor and others. The region includes North America, Europe, Asia Pacific and rest of the world.
Market Research Analysis:
The regional analysis of running gears market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. North America is one of the leading region across the world in terms of market share in running gears market as it has huge demand as it is widely used for among sports person. The running gears market in Europe region is expected to witness rapid growth in the forthcoming period. Whereas, Asia-Pacific countries like China, Japan and India is an emerging market for running gears market and expected to be the highest CAGR in the coming years.
Intended Audience
- Running gears manufacturing companies
- Original equipment manufacturers
- Running gears providers
- Research and development companies
- Market research and consulting firms
- Solution providers
- Technology standards organizations
- Technology investors
- System Integrators
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TABLE OF CONTENTS
1 Executive Summary
2 Market Dynamics
2.1 Market Growth Factors 11
2.1.1 Increasing Adoption Of Fitness Wearable In Medical Sector 11
2.1.2 Emerging E-Commerce Sector 12
2.2 Market Challenges 13
2.2.1 Increasing Demand Of Smartphones 13
2.3 Running Gear Supply Chain Analysis 13
2.4 Porter’s Five Forces Analysis 14
3 Global Running Gear Market, By Sensors
3.1 Introduction 15
3.2 Market By Sub-Segment 16
3.2.1 3-Axis Accelerometer Sensor 16
3.2.2 Gyroscope Sensor 16
3.2.3 Altimeter Sensors 16
3.2.4 Temperature Sensor 17
3.2.5 Bioimpedence Sensor 17
Continued…
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