Sport and fitness trackers are expected to grow fairly steadily with the market for such devices worth $2.8 billion by 2019. The install base, which sat at 84 million in 2013, is projected to grow 50% to 120 million people in that time.
This year, IHS Technology is projecting that fitness trackers, such as the Jawbone UP or Fitbit devices, will be worth $2.2 billion, up 22% over last year's $1.9 billion. One factor that might throw these projections off is the potential growth of smartwatches.
As smartwatches like Samsung's Gear Fit and Gear 2 are build-in more fitness functionality like pedometers and heart-rate monitors, they have the potential to disrupt the growth of dedicated fitness monitors. However, IHS predicts that dedicated athletes will move towards GPS-based devices made by companies like Garmin thanks to the more comprehensive data they can provide.
Do you have a fitness monitor, and do you prefer a dedicated device, rather than a smartwatch with some fitness-tracking capabilities? Let us know below in the comments.