Global Smart weight, body composition & BMI scale Market to reach USD 335.71 million by 2025. Global Smart weight, body composition & BMI scale Market valued approximately USD 193.5 billion in 2017 is anticipated to grow with a healthy growth rate of more than 7.13% over the forecast period 2018-2025. The major driving factors of Smart weight, body composition & BMI scale are increasing health consciousness, increasing interest towards fitness activities and government initiatives promoting fitness which boost the growth of Smart weight, body composition & BMI scale Market.
The major restraining factor of Global Smart weight, body composition & BMI scale Market is high cost of the products. Moreover, the increasing number of fitness centers and growing consumer preference for healthy lifestyles in various region will supplement the growth of the smart weight, body composition, and BMI scales market. Smart weight, body composition, and BMI scales are used to measure the users’ weight, BMI, and body composition (including body-fat percentage).
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The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries.
According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
By working in relation with health apps, smart scales activates users to track their weight over time. Most of the devices are featured by Wi-Fi or Bluetooth connectivity, enabling the user to send the output data to the cloud or to their smartphones. There are many benefits of Smart weight, body composition & BMI scale are body composition scale provides the convenience of being able to measure your weight any time you want, it has consistency, due to you can weight yourself and track it daily and it added more features due to technological advancement & innovations.
The regional analysis of Global Smart weight, body composition & BMI scale Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. The Americas will be the major revenue contributor to the market throughout the forecast period. This market will witness steady growth in this region due to the increasing interest towards fitness activities. Asia Pacific region is also anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
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§ Wi-Fi
§ Bluetooth
By Application:
§ Household
§ Gym
§ Others
By Regions:
§ North America
o U.S.
o Canada
§ Europe
o UK
o Germany
§ Asia Pacific
o China
o India
o Japan
§ Latin America
o Brazil
o Mexico
§ Rest of the World
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.”
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