Wearable tech giant Fitbit will float on the New York Stock Exchange later today (18 June) in one of the most highly-anticipated IPOs of the year.

Wall Street is awash with excitement for the listing, which has seen both the share count (now 34.5 million shares) and price range (now US$17 to US$19) increased due to demand. Analysts are forecasting full take-up on the shares, pointing to the tier one lead underwriting team of Morgan Stanley, Deutsche Bank, and BofA Merrill Lynch as an indication of the magnitude of the deal.

Fitbit, which produces six wearable health and fitness trackers, has become one of the standard-bearers for the booming wearable tech market.

In 2014 the company generated US$745.4m (€652m, £471.5m) in revenue, almost triple that of the previous year and the same pace has continued into 2015. In Q1 2015, revenue surged 210 per cent to US$336.8m (€295.7m, £211.6m), with the number of devices sold more than doubling year-on-year.

Wearable technology has to date been regarded by many as a threat to traditional gyms, however Fitbit believes its success can lead to a symbiotic relationship with the health club sector that will ultimately inspire consumers to become more active.

“Fitbit is an ideal fit for the health club industry, as both parties have the shared goal of encouraging people to lead healthier, more active lives,” Fitbit VP and general manager EMEA Gareth Jones recently told Health Club Management.

“Clubs offer the environment and facilities to help people make changes to their lifestyle, and Fitbit empowers users with the information and motivation they need to reach their fitness goals and make these lifestyle changes permanent ones.”

To read the full interview with Fitbit’s Gareth Jones about motivating people through challenges and rewards – from the latest edition of Health Club Management – click here.