Fitbit is the early leader in the market for digital fitness trackers with nearly 40% of the market, according to Parks Associates. The Q2 2014 survey of more than 5,000 U.S. broadband households found that Fitbit is far ahead of its closest competitors Samsung (14%), Nike+ Sensor (14%), and Nike Fuelband (8%).
“Slightly more than 6% of U.S. broadband households have a digital pedometer or fitness tracker, so this market is still in the early stages of adoption,” said Harry Wang, Director, Health & Mobile Product Research, Parks Associates. “Fitbit’s early success highlights several key factors for success in this market, including fashionable design, integration with mobile devices, and a variety of model options.”
In 2013, 2% of U.S. broadband households purchased a smart watch, with another 4% very likely to do so in the next 12 months. Connected trackers are poised to account for 52% of all digital fitness tracker unit sales in 2014 and reach 81% by 2018 (66 million units).
In order to achieve long-term success in the digital fitness tracker industry, Parks Associates analysts recommend companies several things: to standardize measurements of fitness progress and simplify the fitness management process; to track other elements of healthy living; and to include fitness management and coaching services to the mix, to deepen user engagement and demonstrate value.