Market Highlights
Global Fitness App Market is estimated to register a valuation of USD 156.82 Billion by 2030 with a 27.8% CAGR during the forecast period (2020–2030). The market research report predicts the Fitness App Market size with information on key vendor revenues, development, upcoming trends & forecast. The market is powered by increased use of mobile apps, increased use of sports and fitness applications for tracking activities and heart rate, and increased demand for wearable exercise equipment. Smartphones have become an essential part of human social security and physiological well-being. A mobile application is a software application designed to run on mobile devices like smartphones, wearable devices, and tablets. Such applications have arisen as a result of the convergence of media, the Internet, and advanced technologies. In last few years, people have changed the way they handle important aspects of their lives, including wellness, by using different health and fitness apps on their mobile devices.
Fitness App Market Leaders
- Samsung Electronics Co., Ltd (South Korea)
- Google LLC (US)
- TomTom International BV (The Netherlands)
- Nike, Inc. (US)
- Lenovo Group Limited (China)
- Adidas AG (Germany)
- Wahoo Fitness (US)
- Under Armour, Inc. (US)
- Azumio Inc. (US)
- Grand Apps (US)
- Asics Corporation (Japan)
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Fitness App Market Drivers
Growing Adoption of Smart & IoT Devices to Boost Market Growth
The need for fitness is on the rise among developing nations for the increasing adoption of smart & IoT devices like wearable devices, tablets, and smartphones. Besides, majority of fitness apps are being used through smartphones as this is a cost-effective alternative from costly gyms & fitness centers.
Opportunities
Rise in Health Issues to offer Robust Opportunities
The rise in health issues especially among the youth owing to a sedentary lifestyle will offer robust opportunities for the fitness app market in the said period.
Restraints
High Cost of Fitness Apps and Tracker Development to act as Market Restraint
The high cost involved in the fitness app and tracker development may act as market restraint over the forecast period. Besides, high initial investments needed for technology upgrades coupled with consumer preferences and techniques may also impact market growth.
Challenges
Concerns about Data Security to Remain as Market Challenge
The concerns about data security and stringent regulations may act as market challenge over the forecast period.
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Segmentation:
The global fitness app market is bifurcated based on type, platform, and device type.
By type, the global fitness app market is segmented into (Workout and Exercise Apps, Disease Management, Lifestyle Management {Sleep Tracker and Period & Ovulation Tracking}, Nutrition & Diet, Medication Adherence and Others {Meditation and Brain Training Apps}).
By platform, the Android segment will lead the market over the forecast period.
By device type, the smartphones segment will dominate the market over the forecast period.
Regional Analysis
North America to Spearhead Fitness App Market
North America will spearhead the fitness app market over the forecast period. Increasing awareness regarding health, vast base of fitness enthusiasts that boost the need for fitness app, the proliferation of wearable devices like smart rings, smart watches, fitness bands, and smartphones, the growing adoption of smartphones in the US, the presence of top fitness apps providers like FitBit, and the growing adoption of smartphone devices for activity tracking are adding to the global fitness app market growth in the region. The US has the utmost market share followed by China for the growing adoption of fitness apps among those with health concerns and fitness. Besides, the ongoing technological investments in the internet of things, cloud computing, machine learning, and artificial intelligence among others, increasing awareness regarding health & fitness, growing number of people affected by stress and anxiety, increasing demand for modernizing fitness systems, and the growing need for conducting risk-free and hassle-free fitness transformation among healthcare institutes are also adding market growth.
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COVID-19 Analysis
The COVID-19 pandemic has hit the fitness sector especially the brick and mortar gyms and fitness studios that has closed down several facilities and caused huge revenue losses to the industry across the world. Hence this has boosted the growth of the at-home fitness applications. During the onset of the opportunity, the fitness app developers have fostered their strategic initiatives with the technology company for developing more premium workout content. These developers have ramped up investments for developing innovative apps. Industry professionals assert that after COVID, even if gyms & fitness studios open, virtual workouts will remain a sizeable part of the routine. After the pandemic recedes, the use of a hybrid model of online/brick and mortar gyms are predicted to retain. Besides, the demand of products is likely to pick up following the uplift of the lockdown in countries across the globe.
Table Of Content
1 EXECUTIVE SUMMARY
1.1 GLOBAL FITNESS APP MARKET, BY TYPE 18
1.2 GLOBAL FITNESS APP MARKET, BY APPLICATION 19
1.3 GLOBAL FITNESS APP MARKET, BY DEVICE TYPE 20
1.4 GLOBAL FITNESS APP MARKET, BY REGION 21
2 MARKET INTRODUCTION
2.1 DEFINITION 22
2.2 SCOPE OF THE STUDY 22
2.3 RESEARCH OBJECTIVE 22
2.4 MARKET STRUCTURE 23
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS 24
3.2 PRIMARY RESEARCH 25
3.3 SECONDARY RESEARCH 26
3.4 MARKET SIZE ESTIMATION 27
3.5 FORECAST MODEL 28
3.6 LIST OF ASSUMPTIONS 29
Continued...
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