With the growing awareness regarding health and fitness, running gears are witnessing a rise in their market. Market Research Future (MRFR) has published a research report about the global running gears market that estimates raise for this market at 12% CAGR (Compound Annual Growth Rate) between 2017 and 2023. In terms of value, this market has been anticipated to be worth the US $ 22.54 bn by the end of forecast period.
The major factor supporting the running gear market Analysis growth is the increasing adoption of fitness wearable among the users. The increasing work pressure in the private sector can also boost market growth.
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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Latest Industry News
Xiaomi-backed fitness brand Huami is all set to release its new smart wearable Amazfit Verge on Amazon.in from 15 JAN 2019. 10 JAN 2019
Released by Fitbit, Charge 3 is a new wearable that can track exercise in 15 different sports modes, including distance, heart rate, and pace. It also has a sleep-tracking function. It also features women’s health tracking, water resistance up to 50 meters, and a blood oxygen sensor that can track disruptions in breathing during sleep. 12 DEC 2018
The segments in the global running gear market are based on product, market type, sensor type, and region.
Software dominates the product segment
- The product is segmented into fitness wearable, software, footwear & apparels, and others. The software market size is the largest and is expected to increase at 14% CAGR during the assessment period.
Online retail to witness remarkable growth rate
- The market type is segmented into specialty stores, department stores, online retail and others. The online retail stores segment is expected to grow at a remarkable rate of 14% due to the convenient shopping experience offered by online retail along with the availability of a vast range of products at economic prices.
3-axis accelerator segment to surge capturing a substantial market share
- The sensor types are segmented into 3-axis accelerator sensor, gyroscope sensor, altimeter sensor, temperature sensor, bio-impedance sensor and others. The 3-axis accelerator sensor market is surging ahead at a phenomenal rate of 13% CAGR owing to increasing demand for consumer electronics, technological advancements and high growth of economy across the globe.
The regions contributing to the global running gears market are North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America leading the global market
The market in North America is leading the global market on account of increasing number of celebrity endorsements and several modern marketing strategies adopted by vendors. Growing awareness of the resultant benefits of healthy lifestyle along with immense popularity of different running events in the region is presumed to fuel the market growth in North America by 2023.
APAC countries such as China, Japan and India are emerging markets and the region is expected to grow at the highest rate in the coming years. The accelerated use of advanced technologies to produce running apparel and footwear seems to work in favor of the market growth.
The running gears market in Europe is anticipated to observe rapid growth in the conjectured period. The market size in the region is influenced by increasing work pressure in the private sector coupled with growing adoption of fitness wearable in healthcare. Moreover, increasing options to choose from such as footwear, apparels and others, has fuelled the appeal of the market as well.
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- 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
About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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