Running Gear Market Overview
International running gear market is projected to grow and reach 22.53 million by 2023. This growth is expected to rise at a whopping CAGR of 12.97 percent. There are various factors, ranging from advancing lifestyle to greater work pressure, which makes the market most significant. Growing interest in physical fitness is also one of the prime reasons behind the promising market scenario. Starting from footwear to wearable fitness tracking devices, there are various aspects that contribute towards the growth of international Running Accessories Market.
Greater adoption of e-commerce concept is touted as one of the prime reasons behind the enriching international running gear market. Similar is the case about wearable technology concept as well. To be specific, these technologies are hugely used in therapeutic sector these days, enabling the market to run smoothly during the forecast period. Number of people using fitness trackers for keeping track of their health statistics has enormously grown in near future, thus contributing towards the growth of international running gear market.
Starting from pharma sectors to the biomedical sectors, the usage of fitness trackers has grown enormously. At the same time, Internet of Things has appeared as a promising mode of connecting the explicitly distinguishing devices that have made things encouraging. There are many other aspects that contribute to the usage of fitness trackers. At the same time, greater consumption of fast food is also one of the prime reasons behind the need for fitness trackers being highly felt. Easy availability of smart gadgets can also be identified as a reason.
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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.
Market Segmentation
International running gear market can be segmented on the basis of sensors, in terms of products, on the basis of market types, and regionally. From sensors perspective, the international running gear market can be further classified into a 3-Axis accelerometer sensor, gyroscope sensor, altimeter sensors, temperature sensor, and bioimpedance sensor. On the basis of products, international running gear market can be further classified into Footwear and apparel, fitness tracker & wearable, and software. In terms of market type, global running gear market can be divided into online retail, specialty stores, and departmental stores. Regionally, the market is classified into North America, Europe, Asia-Pacific, and the rest of the world.
Regional Analysis
From a regional perspective, international running gear market can be classified into North America, Europe, Asia Pacific, and rest of the world. Among these, North America is projected to be the most dominant during the review period of 2023. Having a market share of 43 percent through greater adoption of wearable devices makes it prominent. Europe comes next in the segment of running gear market for the same reason for higher adoption of health tracker devices. Asia Pacific comes next due to incredible market prospects in healthcare domain and, thus, greater adoption of health tracker devices. Among rest of the world, Middle East and Africa remain most established during forecast period.
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