![]() In fact, the latest trends pertaining to the wearable technology market show promising prospects of growth. Moreover, rising disposable income, the increasing popularity of these devices, the availability of smart devices in the market, and various other factors are also likely to influence the growth of the wearable technology market (Grandview, 2020). Along with this, the outbreak of COVID-19 has further influenced the demand for wearable technology in the healthcare sector as the use of these devices can provide a prompt warning on the indicators of infection. In addition to this, there is rising health concern among individuals which further is likely to influence the demand for health products and fitness items. In addition to this, wearable products such as Fitness devices can help to assess the health status of individuals which may include information on the oxygen level, calorie intake, steps walked, quality of sleep, cholesterol level, heartbeat rate, blood pressure, etc. Along with this, there is a rising demand for IoT-based products and services which further is expected to derive the growth of the wearable technology market. Further, the global wearable technology market was valued at USD 32.63 billion in 2019 which is expected to increase at the CAGR rate of 15.9 % by the end of 2027. The global wearable technology market is growing at a faster pace due to the rising use of IoT devices. Since Fitbit operates in the wearable technology market, it is a must to review the growth of the wearable technology market. Furthermore, now, in 2021, the company has been acquired by Google for $2.1 billion. Along with this, the company also announced its intention of partnering with Adidas in 2018 to launch the Adidas branded Fitbit ionic. The main reason behind such transformation was the use of wireless sensors and technology in its products and the provision of digital health tracking systems in consumer products and services. Also, in 2016, the company transformed from a consumer electronics company to a digital healthcare company. This initial public offer of the company was filed for $ 358 million. got public and the company also announced its initial public offer on the NYSE. Further, the company has a strong market image and global presence over the period of time due to uniqueness in its products and services. The major brands of the Fitbit include one, flex 2, zip, blaze, charge 2, surge, etc. The company is known for developing sensor-based wireless products and services such as tracking devices, watches, headphones, etc. The headquarters of this company is in San Francisco, California. ![]() The Fitbit Company is an American digital health and fitness brand company that was incorporated in 2007 by James Park and Eric Friedman (Crunchbase, 2021). The history of Fitbit is an inspiring tale of a vision turning into a pleasant reality. and to provide some recommendations to the company to further improve its competitive position in the market. ![]() This assessment aims to evaluate the overall market and financial performance of Fitbit Inc. include LG Electronics, Xiaomi, Apple, Jawbone health, etc. Further, the current revenue of this company is pegged around USD 1.42 billion with an employee base of 1700 employees. Moreover, this company was acquired by Google on January 14, 2021, for $ 2.1 billion after getting regulatory approval in the US and Europe. Further, the products of Fitbit range from $ 60 to $ 250, and in 2016, the company launched the Fitbit blaze which is an exercise tracking smart fitness watch (Fast Company, 2021). Also, the Fitbit products are either wearable on the wrist or tied onto the clothes or accessories depending on the features of the products. is to improve the physical activities and health outcomes of individuals by offering them a modern and healthy lifestyle. ![]() Further, the key aim of the products being offered by Fitbit Inc. The key products offered by this company include smartwatches, activity trackers, and other wearable devices that help its users to measure their fitness through features such as heart rate, number of steps walked, and quality of sleep. is an American consumer electronics company that was founded in 2007 in San Francisco, California. ![]()
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