The global wearable market is forecast to continue growing over the next five years. As the most popular wearable device in 2017, sales of fitness/activity trackers are projected to increase to 105 million unit shipments and 3.33 billion U.S. dollars in revenue in 2022.
As of 2016, Fitbit was the market leader of the fitness tracker market, with almost 47 percent of the shipment share. In the same year, it was also the leader of the overall wearable market, leading over competitors like Xiaomi and Apple.
Corresponding to the sales figures of fitness & activity trackers are the ownership rate and actual usage rate reported by consumers. According to Statista Consumer Surveys, 30 percent of U.S. consumers owned a fitness band, and, 44 percent of U.S. consumers used their sport and fitness gadgets daily.