Market Insights Digital Digital Health Digital Fitness & Well-Being

Fitness Trackers - Australia

Australia

The Fitness-Tracker market in Australia is projected to generate a revenue of AU €529.20m in 2024.
This market is expected to experience an annual growth rate of 5.85% from 2024 to 2029, resulting in a projected market volume of AU €703.20m by 2029.
The user penetration rate is estimated to be 16.46% in 2024 and is expected to reach 23.44% by 2029.
The average revenue per user (ARPU) is projected to be AU €120.40.
In terms of global comparison, United States is anticipated to generate the highest revenue in the Fitness-Tracker market, with an estimated amount of AU €10,080.00m in 2024.
Australia's fitness tracker market is booming, with a strong emphasis on outdoor activities and water-resistant features.

Key regions: Canada, Asia, United Kingdom, Italy, Japan

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Analyst Opinion

The Fitness Trackers market in Australia has been experiencing significant growth and evolution in recent years.

Customer preferences: Customers in Australia are increasingly prioritizing their health and well-being, leading to a growing demand for digital fitness and well-being solutions. The convenience and accessibility of online doctor consultations and digital treatment options are also appealing to consumers looking for more convenient healthcare services.

Trends in the market: One noticeable trend in the Australian Fitness Trackers market is the integration of advanced technology such as AI and machine learning into fitness tracking devices. These technological advancements not only track physical activity but also provide personalized recommendations and insights to users, enhancing the overall user experience. Another trend is the rise of wearable fitness trackers that offer a wide range of features beyond basic activity tracking, such as heart rate monitoring, sleep tracking, and stress management tools.

Local special circumstances: Australia's unique geography and outdoor lifestyle contribute to the popularity of fitness trackers in the country. With a strong emphasis on outdoor activities such as hiking, surfing, and running, Australians are increasingly turning to fitness trackers to monitor their performance and progress. Additionally, the country's aging population and growing health concerns have fueled the demand for digital health solutions, making fitness trackers a valuable tool for individuals looking to improve their overall well-being.

Underlying macroeconomic factors: The growing adoption of digital health solutions in Australia can be attributed to several macroeconomic factors, including the increasing healthcare costs, shortage of healthcare professionals in remote areas, and the government's focus on promoting telehealth services. Additionally, the rise of chronic diseases and lifestyle-related health issues has prompted individuals to take a more proactive approach to their health, driving the demand for fitness trackers and other digital health technologies in the country.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenues and user data of relevant mobile applications and consumer electronics companies.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, population, internet penetration, smartphone penetration, consumer spending, and healthcare spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.