Published Date: 31-Mar-23
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According to a new report, published by KBV research, The Global Fitness Rings Market size is expected to reach $651.6 Million by 2028, rising at a market growth of 7.3% CAGR during the forecast period.
The Online segment is showcasing a CAGR of 9.5% during (2022 - 2028). Over the forecast period, the segment would grow significantly. The rise is attributed to internet penetration and the widespread accessibility of these rings, accelerating the growth of the online distribution channel internationally. As a result, many manufacturers have resorted to selling their products online to reach a broader customer base. Additionally, they are implementing certain tactics like offering ring personalization to attract more customers.
The iOS segment acquired maximum revenue share in the Global Fitness Rings Market by Compatibility in 2021 thereby, achieving a market value of $276.6 Million by 2028. Apple WatchOS provides fitness monitoring and health-related apps, which include capabilities such as proposing workout plans, presenting infographic representations of activity data, comparing overall performance, and others. Because of its unique apps and functionalities, iOS has increased customer desire for fitness trackers for fitness rings. The availability of technologically improved apps, as well as an increase in consumer adoption of iOS, are two main drivers of growth of the segment.
The North America market dominated the Global Fitness Rings Market by Region in 2021 and would continue to be a dominant market till 2028; thereby, achieving a market value of $261 Million by 2028. The Asia Pacific market is exhibiting a CAGR of 8.1% during (2022 - 2028). Additionally, The Europe market would showcase a CAGR of 7.2% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/fitness-rings-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Ultrahuman Healthcare Private Limited, Sky Labs, Oura Health Oy, ArcX Technology Ltd, SLEEPON, Circular and Ringly Inc.
By Distribution Channel
Unique Offerings from KBV Research
North America Fitness Rings Market Future Scope & Opportunities 2022-2028
Europe Fitness Rings Market Size & Growth Forecast 2022-2028
Asia Pacific Fitness Rings Market Size, Share & Industry Outlook to 2028
LAMEA Fitness Rings Market Growth, Trends & Forecasts 2022-2028