TechInsights: global fitness bracelet revenue will continue to decline in 2023

CTOnews.com, February 7 (Xinhua)-- TechInsights (formerly Strategy Analytics) released a report today that global fitness bracelet revenue will fall 15% in 2023 compared with the same period last year. For comparison, global fitness bracelet revenue fell 20% year-on-year in 2022 and 29% in 2021.

According to the report, the reasons for the year-on-year decline in earnings include falling sales, increased competitive price pressures in some regions, competition from low-cost functional watches and smartwatches, as well as the global COVID-19 epidemic, the conflict between Russia and Ukraine and high inflation brought about by the overall economic uncertainty.

According to TechInsights, the average selling price of fitness bracelets is relatively flat in 2022 (- 1 per cent), and the average selling price will also fall from 2023. Unit sales of fitness bracelets are expected to recover after 2024, with income falling more slowly than the average selling price.

CTOnews.com learned that although global fitness bracelet earnings have continued to decline since 2020, there are still opportunities for income growth in parts of the Middle East and Africa, Central Latin America and Central and Eastern Europe.