Then I had to realize that this is not exactly a golf club fitting tool, rather a gadget for golf instructors. It utilizes bluetooth technology as you will see below in the video. I have already found 2 similar training aid: SkyPro and SwingSmart.
Swingbyte provides teachers and students with instant feedback about the golfer's swing path, plane, speed, club rotation and various impact conditions, including golf club face relative to path and relative to address.
So Swingbyte is rather a decision support tool, an aid for golf instructors. Swingbyte tells you more about what the students ARE doing.
Swingbyte is similar to golf club fitting tools in the following areas, it provides speed, tempo, and acceleration data throughout the swing.
The big question is how accurate this tool can be. May be it would be advisable to cooperate with shaft manufacturers or in general with golf equipment manufacturers to ensure higher level of accuracy.
Unfortunately, I have not come across with Swingbyte in pro-shops, just in their webshop.