Running Gear Market Highlights
The Global running gear market value will reach USD 62.03 Billion by 2030, with a CAGR of 15.4% during the forecast period 2020 to 2030.
The study reveals that running gears is trending in North America region. The increasing adoption of advanced technologies in running gears are factors driving for the market growth. The smart running gears are widely used in these region as it provides real time coaching that send the feedback via the headphones. In U.S, it is extensively used among sports person ast also helps to improve running form, reduce the chances of injury and among others. It also enhances the running skill, provide the information on pace, distance and time and others.
In North America region, the retail market is growing due to the growing need of user’s demand of running gears market. The running shoes are inbuilt with sensors which helps to track the speed, calories burnt, distance covered, and others. The products offered by the companies such as Apple Inc. (U.S.), Fitbit (U.S.), Sensoria Inc. (U.S) have improved these gadgets for better customer experiences. The companies are investing in this market and is estimated to gain huge growth in the coming years.
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Key Players
The prominent players in the global running gears market are – Seiko Epson Corporation (Japan), Garmin International (U.S.), Adidas (Germany), Apple Inc. (U.S.), Fitbit (U.S.), Sensoria Inc (U.S.), Suunto (Finland), Altra Running (U.S.), Stryd (U.S.), Lumo Bodytech (U.S.), among others.
Segmentation
The global running gear market is bifurcated on the basis of product, market type, sensor type, and region. The product is segmented into fitness wearable, software, footwear & apparels, and others. The market type is segmented into specialty stores, department stores, online retail and others. The sensor types are segmented 3-axis accelerator sensor, gyroscope sensor, altimeter sensor, temperature sensor, bio-impedance sensor and others. The region includes North America, Europe, Asia Pacific and rest of the world.
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Running Gear Market Market Research Analysis:
Geographically, Global running gears market is studied in different regions as Americas, Europe, Asia-Pacific and Rest of world. It has been observed that North America region is leading with market share growth in the running gears market. The running gears is gaining huge demand due to the popularity of various kind of running events, the healthy lifestyle and others benefits of exercises in these regions. In this market, Europe is to be estimated to be the second largest market share for running gears during the forecast period. Asia Pacific is expected to gain highest CAGR in the coming years due to growing population and increasing industrialization which is propelling the running gear market growth in these region.
Key Findings:
- The global running gears market is expected to reach USD 22.54 billion market value by 2023 growing with 12% CAGR during forecast period 2017-2023.
- By Product, Software accounts for the largest market share and is growing with 14% CAGR during forecast period.
- By Market Type, Online Retail is dominating the running gear market and has generated USD 5.84 billion market in 2016 and is expected to grow with 14% CAGR.
- By Sensors, 3-Axis Accelerator Sensor is dominating the market in 2016 and is expected to grow with 13% CAGR during forecast period 2017-2023.
- Geographically, North America region has been projected to hold the largest market share in global running gears market followed by Europe region, while Asia Pacific is expected to drive the market in coming years
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Intended Audience
- Running gears manufacturing companies
- Original equipment manufacturers
- Running gears providers
- Research and development companies
- Market research and consulting firms
- Solution providers
- Technology standards organizations
- Technology investors
- System Integrators
Running Gear Market Research Report: By Sensors (3-Axis Accelerometer Sensor, Gyroscope Sensor, Altimeter Sensors, Temperature Sensor and Bioimpedance Sensor), Product (Footwear and Apparel, Fitness Tracker & Wearable and Software), Market Type (Online Retail, Specialty Stores and Departmental Stores) - Forecast till 2030
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