To set up a small-scale industry to manufacture Health Tracking devices and fitness trackers.
Industry
IT-Hardware & Networking
Description
Marketscope:
According to ResearchAndMarket.com, The Global Fitness Trackers Market size was valued at $17,907 million in 2016 and is expected to reach $62,128 million by 2023...
Marketscope:
According to ResearchAndMarket.com, The Global Fitness Trackers Market size was valued at $17,907 million in 2016 and is expected to reach $62,128 million by 2023, registering a CAGR of 19.6% during the forecast period.
Few vehicles are deploying health trackers to...
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Marketscope:
According to ResearchAndMarket.com, The Global Fitness Trackers Market size was valued at $17,907 million in 2016 and is expected to reach $62,128 million by 2023, registering a CAGR of 19.6% during the forecast period.
Few vehicles are deploying health trackers to understand the real-time health condition of driving. It is now in experiment mode, in future they will become a must in vehicles and thus will have a high demand
In the future, health tracking devices may become default features of Smartphones
Description: Manufacturing of Health tracking devices and fitness trackers which tracks heart-rate, blood pressure, respiration rate, temperature, glucose rate, oxygen rate, etc. These are highly useful for patients suffering from BP, Diabetes, Thyroid, and other diseases. Health trackers/wearable fitness trackers market is categorized into wrist-wear, smart garments & body sensors, legwear and others. They have a wide range of sensors to track fitness and health levels.
Opportunities:
Good Demand
Great Profits
Risks:
Competition
Investment
Dos:
Study and understand how Fitness tracking devices work
Understand the market
Can manufacture various sensors of fitness devices and sell those sensors
Research where other fields trackers various can be used
Don’t:
Invest too much
Hire unskilled
Entrepreneurialskills:
Exploring the market
Knowledge of Sensors and other components required for Fitness tracking devices
Conclusion: You can make it either as B2B or enter the retail market. It is very new in this country. The demand will grow in the coming future. A good team of manufacturing and marketing is the key to become successful.
Pavan
Idea Title
To set up a small-scale industry to manufacture GPS tracking devices.
Industry
IT-Hardware & Networking
Description
Market Potential:
According to the new market research report “GPS Tracking Device Market is worth 2.89 Billion USD by 2023, at a CAGR of 12.91?tween 2017 and 2023.”
“Commercial...
Market Potential:
According to the new market research report “GPS Tracking Device Market is worth 2.89 Billion USD by 2023, at a CAGR of 12.91?tween 2017 and 2023.”
“Commercial vehicle deployment type is expected to hold the largest market share in 2023”
According to the new market research report “GPS Tracking Device Market is worth 2.89 Billion USD by 2023, at a CAGR of 12.91?tween 2017 and 2023.”
“Commercial vehicle deployment type is expected to hold the largest market share in 2023”
Most of the businesses will get benefit from this service
Description: To manufacture Global positioning tracking systems. GPS systems are used in Travel buses, trains, Goods carriers, and other application to know the location. GPS system plays a key role in Autonomous/driverless cars.
Opportunities:
Great demand
High profits
Commercial vehicles (cars, cargo vehicles) are the biggest market
Risks:
Competition
Entrepreneurial Qualities:
Creativity
Exploring new markets
Dos:
Study and understand another GPS providers’ weakness
Research where other areas trackers can be used and use it as a marketing tool
Can manufacture GPS chip or complete device
Don’ts:
Invest too much
Hire unskilled
Conclusion: As it is a B2B, there is a need for good network and great marketing techniques to get orders. The demand will rise in the coming future and so it is the right time to enter the market to capture that demand. An experienced team is must to become successful.