A new report by Juniper Research says that the fitness devices will reach 70 million mark by 2018. The report says, these fitness devices will dominate the wearable market.
The report also suggested that the smartwatches will be more frequently used in the later years.
Juniper research also observed that the variety in the wearbles will divide fitness devices into two categories.
Basic trackers, like the $13 Xiaomi MiBand, will sell on their value, while more complex devices, such as the Fitbit Surge, Microsoft Band and Samsung Gear Fit, will offer additional features beyond fitness, such as notifications and music control.
The device that provide more function then just fitness tracking will compete with the smartwatches such as the MetaWatch M1 and Martian Notifier.
The report also says that the healthcare-focused wearable devices will increase, from wearable ECGs (electrocardiograms) to glucose monitors and insulin pumps.
Other Key Findings:
- Fitbit will remain the leading player for fitness tracking, although their decision not to integrate with Apple Health may harm their market share in the short term.
- With engagement a key pain point for fitness wearables, start-up GOQii is pioneering a new service-based business model, offering contact with fitness coaches alongside their device.
Earlier in October Juniper Research report suggested that that more than 100 million smart watches will be in use worldwide by 2019.
It said over the next 12-18 months premium brand launches will bring the category into mainstream consumer consciousness.
The report said, smart watches will slowly gain more sales outlets as brands outside the technology sector, such as luxury watch maker TAG Heuer, enter the smart watch space.
High functionality and premium branding means that the average smart watch price will remain above $200 until 2020.