This morning, Fitbit released its latest fitness-tracking wearable, the Fitbit Charge 5. It's equipped with a host of health-related features and new premium content.

Dubbed its most advanced health-and-fitness tracker to date, the Charge 5 has tools for monitoring real-time activity, stress levels, heart health and sleep – all with a design that’s 10% slimmer and 200% brighter than its predecessor, the Charge 4.

The device’s standout feature is Fitbit Premium’s new Daily Readiness Score that takes into account users’ health metrics to guide them towards a workout geared to their body’s needs or to a day of rest. The new feature will soon be available in the Fitbit app for premium members with the Charge 5, as well as the Sense, Versa 3, Versa 2, Luxe and Inspire 2 devices.

Fitbit included many of the health-monitoring capabilities available in its other devices in the Charge 5, including measurements for heart rate, ECG, breathing rate, skin temperature variation, SpO2, sleep quality and VO2 Max. It provides recommendations for Active Zone Minutes, has a built-in GPS and comes with an EDA sensor used to give stress management scores.

All of these measurements and more can be viewed in the Health Metrics dashboard in the Fitbit app to help track progress over time.

Like its other wearables, when someone purchases the Charge 5, they will get six months of Fitbit Premium for free. Users get access to more than 500 workouts, mindfulness and nutrition sessions from brands like Daily Burn, barre3 and obé, as well as content from newly announced partnerships with Calm and LES MILLS.

The Charge 5 is available today for preorder and costs $179.95. It will launch with worldwide availability in the fall.

WHY THIS MATTERS

Even before the COVID-19 pandemic, fitness wearables were becoming a popular health tool for consumers, with roughly one in five U.S. adults saying they regularly wear a smartwatch or fitness tracker, according to a Pew Research Center survey from 2019.

But as the pandemic increased consumers’ awareness of their health, more people began adopting health-monitoring devices like fitness trackers and smartwatches. In fact, the fitness-tracker market grew by 19.5% in 2020, according to an article in Fortune Business Insights.

It predicts that the market will continue growing in the coming years, going from $36.34 billion in 2020 to $114.36 billion in 2028.

THE LARGER TREND

Fitbit is no stranger to product launches. It has already released several devices so far this year, including the Luxe, a stylized fitness tracker, and the Ace 3, a wearable for kids. The company also began offering blood-glucose tracking on its connected app.

Fitbit might also begin straying away from its traditional smartwatch form. A recent patent registration reveals it's working on a smart ring.

Other heavy hitters in the wearable space include Apple, Garmin and Samsung.