Tracker: VALUE SHARE: Global Fitness Band Revenue and ASP by Vendor by Price Tier: 2024 Q1
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Global fitness band industry revenues slowed their decline in Q1 2024, falling just 10% YoY after an average quarterly decline of 35% over the past 3 years. This marks the sixteenth consecutive quarter of fitness band revenue declines. Wholesale average selling prices (ASPs) rose in Q1 due to shrinking volumes in the entry price tier as demand for the once dominant Xiaomi Mi Band line wanes. Consumers are trending toward more fully featured wrist-based devices like smartwatches and feature watches over fitness bands. Leading fitness band vendors include Fitbit, Garmin, Honor, Huawei, and Xiaomi. This report tracks quarterly global fitness band shipments, wholesale pricing, PRICE-TIERS, and revenues for all major vendors from 2016 to 2024.
