VALUE SHARE: Global Fitness Band Revenue and ASP by Vendor by Price Tier: Q4 2023
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Global fitness band industry revenues plummeted by 44% in Q4 2023. This marks the fifteenth consecutive quarter of year-over-year (YoY) fitness band revenue declines amid macroeconomic weakness and geopolitical uncertainty. Prices have reversed course back to ASP declines due to commoditization at the low-end, and shrinking volumes at the high-end, after briefly ticking upward slightly in 2022 due to unrelenting inflation. 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 2023.
