Fitness Tracker Device And Services Market To Reach $5.4B And $1.9B In 2019, Respectively

The global revenues for smartphone-connected fitness tracking devices and equipment will grow from $2 billion in 2014 to $5.4 billion by 2019, according to a report from research firm Parks Associates. In another report by Juniper Research, the market for connected healthcare and fitness device services will produce $1.8 billion in annual revenues by 2019, a six-fold increase from 2015, which is expecting to generate $320 million in revenues.

The growth in each of these markets highlights the increasing importance consumer wellness technologies are having in our daily lives. It also highlights that device adherence and outcomes are critical to the long-term viability of the connected health market, which is why services that are designed to produce outcomes and increase program adherence are an emerging and very important part of the ecosystem. This was recently evidenced by Fitbit’s acquisition of FitStar. The acquisition shows that device manufacturers must go beyond data collection and provide services that produce outcomes.

These emerging markets validate the need to incorporate consumer wellness technologies into employer wellness programs. Consumers are adopting these technologies by the millions and there is a burgeoning services market being built to support outcomes and go beyond data collection. Employers need to meet their employees (consumers) where they are by embracing connected fitness devices and mobile apps into their employer wellness platform.