Morgan Stanley Maintains Equal-Weight on Garmin, Raises Price Target to $289

Fitness Tracker Market Accelerates as AI-Enabled Biometric Monitoring Advances Preventive Healthcare

The global fitness tracker market is expected to grow from $71.95 billion in 2025 to $378.82 billion by 2035 at an 18.07% CAGR, driven by AI-enabled biometric monitoring, preventive healthcare adoption, and clinical-grade wearable functionality. The U.S. market alone is projected to reach $105.81 billion by 2035. Smartwatches dominate with 51.5% market share, while smartbands show fastest growth. Key challenges include data privacy concerns and user engagement sustainability.

Watching Garmin; Shares Move Lower After Bloomberg Reported 'Apple Is Developing New Fitness Tracker Aimed at Rivaling Whoop'

Fitness Tracker Market Set for Growth Through 2033 as AI-Powered Wearables and Rising Health Awareness Fuel New Business Opportunities

The global fitness tracker market is projected to grow from USD 71.2 billion in 2026 to USD 91.6 billion by 2033, with a CAGR of 3.70%. Growth is driven by AI-enabled wearables, rising health awareness, integration with healthcare platforms, and expanding adoption in emerging markets. Key opportunities exist in affordable devices, multifunctional wearables, and partnerships with healthcare and wellness providers.

Apple Watch Is Winning in a Shrinking Market

Counterpoint expects an Apple Watch upgrade cycle as Series 12 & Ultra 4 launch with new health features and unchanged prices.