The Asian market for wearable fitness technology has boomed, and investments in the industry have increased significantly as a result.
According to CB Insights, a venture capital research firm, “the proliferation of mobile, a burgeoning middle class and pro-fitness government policies are enabling the rise of fitness tech in China and India.
“For example, in June 2016, the Chinese State Council issued a plan to implement a national fitness strategy to improve the physical fitness and health levels of the entire country by 2020,” CB Insights’ report stated.
The report added that India’s National Skill Development Corporation is supporting a K11 Academy of Fitness Sciences to instruct new personal trainers as well.
Cb Insights intelligence analyst Anagha Hanumante explained: “Investors are realizing that there is a great opportunity to tap into the fitness category, because consumers are spending a lot of money on these services, along with associated products, such as apparel and adjacent services such as nutrition.”