By Cheryl Swanson
Remember when wearing a health and fitness tracker labeled you a geek or a nerd?
Well, don’t tell anyone, however we’re now living in the age of the nerd. According to a report from PricewaterhouseCoopers, over 20% percent of Americans own a health and fitness tracker. And an additional 80 percent are familiar along with at least one wearable healthiness device on the market.
There’s something for everyone in health and fitness trackers now, covering every sport from running, skiing, and surfing, to swimming, moto cross, and snow boarding. There are even social features that enable you to form teams and “cheer” or “taunt” your friends. Mordor Intelligence projects the market could reach $8.3 billion by 2018. A recent report from Business Insider projects a blistering compound annual growth price of 35% for the global wearables market, along with over 148 million units shipped each year by 2019.
Fitbit hits the ground running
Due to the fact that a large part of today’s $2.6 trillion healthcare bill is steered by just what is considered “poor health” behavior, including lack of exercise, it’s no wonder so numerous Americans are tracking their activity levels, heart-rates, and even sleep patterns. however along with a market growing this fast, you’d expect it to be crowded.
That’s an understatement. In fact, the exploding competition in health and fitness tracking, especially from Apple‘s (NASDAQ: AAPL ) all-purpose wearable, the Apple Watch, was expected by some Wall Street pundits to cool investor enthusiasm for Fitbit‘s (NYSE: FIT ) IPO last Thursday. Forbes reported that Vox’s Matt Yglesias tweeted the provocative question, “Fitbit filing a sucker IPO prior to Apple Watch puts it from business?”