The fitness tracker industry is set to almost triple from one valued at $2 billion in 2014, to $5.4 billion by 2019.
That's according to Parks Associates, emerging consumer tech analyst, who also stated that "connected health devices" jumped from 24% adoption in the US in 2013, up to 30% by the end of last year.
"The most popular devices are exercise equipment with built-in app support and digital pedometers with wireless connectivity," read a statement promoting its latest report - Digitally Fit: Products and Services for Connected Consumers.
Back in August 2014, CCS Insight forecast the wearable device market would increase from 9.7 million device shipments in 2013 to 135 million in 2018.
However, its report pinned the hopes of a wearable tech boom on smartwatches rather than fitness trackers. It said that of the predicted 135 million sales, 68 million will be smartwatch devices compared to 50 million fitness trackers.
That would represent a huge swing from the genre that currently dominates the wearables market. According to analysts NPD Group, fitness trackers accounted for 72% of all "digital fitness device" sales in 2013.
With the Apple Watch set to raise awareness for the smartwatch form factor, we think CCS may be closer to the money with its prediction, although we wouldn't be surprised to see a big increase in activity band adoption as prices inevitably drop so they can compete with their more feature-rich wearable rivals.