The study led by researchers from the University of North Carolina and RTI International, a US based non-profit organisation, found that the trackers are better at measuring some metrics than others.
Lead author Kelly Evenson conducted a systematic review of 22 published articles researching the ability of Fitbit and Jawbone - two popular activity trackers - to measure steps, distance, physical activity, calories and sleep.
"Wearable devices that track physical activity, sleep and other behaviours are growing significantly in popularity," said co-author Robert Furberg, senior clinical informaticist at RTI International.
Several studies indicated that the step counting feature was accurate both in the lab and in the field.
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Only one study assessed distance tracking for the Fitbit, finding that the device tends to over-estimate at slower speeds and under-estimate at faster speeds.
Two field-based studies compared accelerometry-assessed physical activity to results from the trackers, with one study finding high correlation (in Fitbits) while another study noted a wide range in correlation (in both Fitbit and Jawbone brands).
Using several different comparison measures, other researchers found that both tracker brands over- and under-estimated calories used, and over-estimated total sleep time.
The study was published in the International Journal of Behavioural Nutrition and Physical Activity.