Fitness App Market Size
Increasing awareness about diet-related diseases boosts the growth of the fitness app market share across the globe.
PORTLAND, PORTLAND, OR, UNITED STATES, July 21, 2023/EINPresswire.com/ — As per the report, the global fitness app market accounted for $13.78 billion in 2020, and is expected to reach $120.37 billion by 2030, growing at a CAGR of 24.3% from 2021 to 2030.
Rise in emphasis on maintaining a healthy lifestyle, surge in awareness about diet-related diseases, and increase in use of smartphones, wearables, and tablets drive the global fitness apps market. However, technical issues in apps, the high cost of in-app purchases, and concerns regarding data security and strict regulation of data privacy hinder the market growth. On the contrary, technological advancements in AI and machine learning and increase disease prevalence of hypertension, cardiac problems, and obesity are expected to unlock new opportunities for the market players in the future.
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Covid-19 scenario:
• The Covid-19 pandemic favored the demand for fitness apps due to the increase in the implementation of lockdowns by the government in the majority of countries and the rise in the adoption of digital solutions by gyms and studios.
• The shift to remote work increased the demand for fitness apps to improve health and immune system to prevent Covid-19 infection.
By device type, the smartphone segment held the largest share in 2020, accounting for more than half of the global fitness apps market, due to ease-of-use, social influence, goal-setting, self-efficacy, and self-monitoring provided by smartphones. However, the wearable devices segment is expected to register the highest CAGR of 25.5% during the forecast period, owing to trend of wearable technology among the youth.
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By operating system, the Android segment would showcase the highest CAGR of 26.1% from 2021 to 2030, due to rapid adoption of android devices among the young generation of developing nations. However, the iOS segment held the largest share in 2020, contributing to more than half of the global fitness apps industry, as it offers better premium class plans.
By region, the market across North America held the largest share in 2020, accounting for more than one-third of the market, owing to the growth in popularity of fitness apps among the younger population. However, the global fitness apps market across Asia-Pacific is projected to manifest the highest CAGR of 26.3% during the forecast period, due to rise in the application of data analytics in fitness such as evaluating and developing fitness or yoga programs, detecting anomalies in scans, and predicting outbreaks.
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The key players profiled in the fitness app market analysis are Aaptiv Inc, Addias, Applico Inc., Azumio, Inc., Fitbit LLC., FitnessKeeper, MyfitnessPal, Inc., Nike, Inc., Noom Inc., and Under Armour, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the fitness app industry.
Key Benefits For Stakeholders:
• The study provides an in-depth analysis of the fitness app market forecast along with the current trends and future estimations to explain the imminent investment pockets.
• Information about key drivers, restraints, & opportunities and their impact analysis on the global market is provided in the report.
• Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
• The quantitative analysis of the fitness app market from 2021 to 2030 is provided to determine the market potential.
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