IHS iSuppli: Fitness electronics shipments expected to reach 56.2 million units in 2013

On May 17, 2013, market research company IHS iSuppli predicted that sales of fitness electronics products will exceed 250 million units in the next five years.

IHS iSuppli estimates that shipments of fitness electronics will grow from 43.8 million units this year to 56.2 million units in 2017, and will reach about 250 million units in the next five years.

Last year, wrist-worn fitness and heart rate monitors accounted for 23% of the fitness electronics market, but that figure is expected to drop to 19% in 2017 as GPS-enabled monitors grow rapidly.

Wrist-worn heart rate monitors will grow 9.5% annually by the end of 2017. Dedicated electronic pedometers will be phased out, replaced by “activity monitors” and smartphones, such as the Samsung Galaxy S4, which has a pedometer function.

Activity monitors are backed by big brands like Nike, Under Armour and Adidas, and market research firm InMedica predicts sales of such devices will triple in the next five years.

Americas and Europe will have similar shares in the global fitness and sports monitor market, both at 42%, while Asia's share will rise from 17% to 21%, mainly due to population growth.