Market Insights Digital Digital Health Digital Fitness & Well-Being

Fitness Trackers - Ireland

Ireland

In Ireland, the Fitness-Tracker market is anticipated to generate a revenue of €129.10m by 2024.
This market is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of 8.69%, leading to a projected market volume of €195.80m by 2029.
The user penetration rate is predicted to be 16.88% in 2024 and is projected to rise to 25.54% by 2029.
The average revenue per user (ARPU) is estimated to be €150.30.
When compared to other countries globally, United States is expected to generate the highest revenue of €10,190.00m by 2024.
Ireland has seen a significant rise in the adoption of fitness trackers, with a growing number of individuals using these devices to monitor their health and wellness.

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

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Analyst Opinion

The Fitness Trackers market in Ireland is experiencing significant growth and development, driven by various factors influencing consumer behavior and market dynamics.

Customer preferences: Consumers in Ireland are increasingly prioritizing their health and well-being, leading to a growing demand for digital fitness and well-being solutions such as fitness trackers. The convenience and accessibility of monitoring one's health and fitness levels through wearable technology are appealing to the tech-savvy population in Ireland.

Trends in the market: One notable trend in the Fitness Trackers market in Ireland is the integration of online doctor consultation services within fitness tracker apps. This trend caters to the rising need for telemedicine and remote healthcare services, especially in light of the global health crisis. Consumers are looking for comprehensive solutions that not only track their physical activity but also provide access to healthcare professionals for consultation and guidance.

Local special circumstances: Ireland's strong focus on technology and innovation plays a significant role in shaping the Fitness Trackers market. The country is home to many tech companies and startups that are at the forefront of developing cutting-edge health and fitness technologies. This local expertise contributes to the advancement of fitness tracker functionalities and features, making them more appealing to consumers in Ireland.

Underlying macroeconomic factors: The economic stability and increasing disposable income levels in Ireland are also contributing to the growth of the Fitness Trackers market. As more consumers have the financial means to invest in health and wellness products, the demand for fitness trackers is expected to rise. Additionally, the government's initiatives to promote a healthy lifestyle and preventive healthcare measures further support the adoption of digital fitness solutions 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.