Market Insights Digital Digital Health Digital Fitness & Well-Being

Fitness Trackers - Angola

Angola

The Fitness-Tracker market in Angola is anticipated to witness a substantial growth in revenue, projected to reach €56.20m in 2024.
The market is expected to exhibit a promising annual growth rate (CAGR 2024-2028) of 13.94%, resulting in an estimated market volume of €94.73m by 2028.
Furthermore, user penetration is projected to increase from 2.75% in 2024 to 3.14% by 2028.
The average revenue per user (ARPU) is expected to be approximately €167.00.
In comparison to other countries, in China is forecasted to generate the highest revenue in the Fitness-Tracker market, amounting to €23,870.00m in 2024.
Angola's rising middle class and increasing health consciousness have driven a surge in demand for fitness trackers in the digital health market.

Key regions: Canada, Asia, United Kingdom, Italy, Japan

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Fitness Trackers market in Angola is experiencing a significant growth trajectory, driven by a shift towards digital health and wellness solutions in the country.

Customer preferences: Angolan consumers are increasingly embracing digital fitness and well-being solutions as they become more health-conscious and tech-savvy. The convenience of tracking their fitness goals and accessing virtual consultations appeals to the modern lifestyle of many individuals in Angola.

Trends in the market: In Angola, the Fitness Trackers market is witnessing a surge in demand for digital fitness and well-being products. Consumers are showing a preference for wearable fitness trackers that offer features such as heart rate monitoring, step counting, and sleep tracking. The online doctor consultation segment is also gaining traction as people seek convenient ways to access healthcare services remotely. Additionally, the digital treatment and care sub-market is evolving with the introduction of telemedicine platforms and health monitoring apps.

Local special circumstances: Angola's healthcare system faces challenges such as limited access to quality healthcare services in remote areas. As a result, the adoption of digital health solutions like Fitness Trackers is bridging the gap by providing virtual access to medical professionals and personalized wellness programs. The increasing smartphone penetration in Angola further facilitates the uptake of digital health technologies among the population.

Underlying macroeconomic factors: The growing middle-class population in Angola, coupled with rising disposable incomes, is fueling the demand for Fitness Trackers in the market. As urbanization continues and lifestyles become more sedentary, there is a greater awareness of the importance of health and fitness, driving the adoption of digital solutions for well-being. Moreover, government initiatives to promote healthcare digitization and improve access to medical services are creating a conducive environment for the expansion of the Fitness Trackers market in Angola.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenues and user data of relevant mobile applications and consumer electronics companies.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, population, internet penetration, smartphone penetration, consumer spending, and healthcare spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.