Global Fitness Apps Market– Description
There has been a tough competition going on between brick-and-mortar gyms against in-app fitness. Information technology has changed the way the fitness industry works. According to an article released in 2020, downloads of fitness and health apps increased throughout the world, due to the growing trend of online fitness training.
The growing awareness towards the fitness and mental well-being is also thriving the market of fitness apps globally. These apps are utilizing artificial intelligence and computer learning along with other technologies to offer some customised fitness plans to their customers. They also offer personalized diet charts, track footsteps, monitor diet and no-equipment workout routine. They also offer personalized fitness and health coaches.
Such advantages over brick and mortars are expected to increase the potential growth of the market.
Global Fitness App Market- Overview
The Global Fitness App Market size was evaluated at USD 1.1 Billion in 2021 and will expand with a CAGR of 17.6% from 2022 to 2030, reaching an estimated revenue of $4.8 Billion. The pandemic led to nationwide lockdowns followed by social distancing norms, which hence, aided the transition from traditional studios and gyms to virtual fitness.
For now it has led to excessive downloads and subscriptions of fitness apps. Another important factor contributing for the market growth is the increasing infiltration of smartphones.
A Mobile Economy Survey that took place in 2018, shows that smartphone infiltration is estimated to increase from 57.0% in 2017 to 77.0% by 2025. Also, Unique mobile subscribers are anticipated to reach 5.9 Billion by 2025.
Moreover, the growing dependency of wearable devices including Fitbit and Apple Watch will further hike the market growth. For example, MyFitnessPal offers customised activity tracking and dieting routine to its users, that generates about USD 6.7 Million on an average.
Therefore, wearable technology has always remained the leading fitness trend. Health and fitness apps show the highest possession value through all the categories with 96.0% of users using one of these apps.
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Global Fitness Apps Market- Key Trends
Increasing emphasis on maintaining a healthy lifestyle
Consumer behaviour has the potential to change various aspects of the health care system. The consumers have started taking charge of their health, for living a better life in their busy schedule. Customers are now more confident and willing to communicate with their doctor about how they agree or don’t with their medical issues, which helps in the growth of the market. Customers are now tracking their health conditions and later using that data to make decisions about their medical records, so as to change their lifestyle for the better good.
Increasing use of Smartphones, Wearable Devices and Tablets
Being fit is now a growing trend among the developing nations to increase the adoption of smart and IoT devices such as smartphones, wearable devices, and tablets. Majority of the fitness apps are being used through smartphones as it is a cheap substitution from expensive gyms and fitness centres. Furthermore, rise in the need for functional flexibility and processes is accelerating innovation and disruptions in fitness app market. This commonness of devices with connective capabilities and the possibility of real-time communication between them is enabling fitness apps to increase the capabilities and efficiency.
The data collected from IoT devices is helping users doing suitable exercise much faster, without any help from a person or joining the gym. So, the fitness app providers offer quality products more quickly.
The COVID-19 outbreak led to an increase in awareness of health and hygiene. As per a World Economic Forum article, the Daily Active Users (DAUs) of fitness apps had increased by 24.0% in quarter 2 over quarter 1 in 2020. As the pandemic brough along social distancing and nationwide lockdown also helped in expanding network of fitness studios and gyms through online platforms, thus, increasing the demands for such apps. Also several consumers are investing in in-home fitness equipment, thus boosting revenue growth.
Global Fitness Apps Market Segmentation
Segmentation on the basis of Type
- Diet and Nutrition
- Activity Tracking
The exercise and weight loss segment was the largest revenue share holder. Exercise and weight loss apps motivate the users to exercise with the help of scheduled notifications. These workout apps are installed with audio cues, video demos, and fitness tracking tools, which can help in maintaining an exercise routine.
Segmentation on the basis of Platform
The iOS segment accounts for the largest revenue share of over 50.0% . High acceptance of iOS devices has been increasing the segment growth over the years. For instance, active Apple device users increased from 1.4 Billion in the first fiscal quarter.
The Android segment is also expected to grow at the fastest rate of 18.6% over the predicted period. Android smartphones have become popular in tracking health and fitness activity.
Segmentation on the basis of Devices
Smartphones form the largest revenue share of over 65.0%. An increase in the penetration of smartphones globally is a key factor for the growth of the fitness app market. With the changing technology in the fitness industry, majority of people choose to switch to their smartphones instead of going to gyms for their regular routine workout.
Segmentation on the basis of Region
- North America, Asia Pacific, MEA, Europe and Latin America
North America has been accounted for the largest revenue share of over 35.0%. Various factors such as rapid growth in the usage of smartphones, a rise in the existence of chronic diseases, growth in coverage networks, the ongoing COVID-19 pandemic and increase in geriatric population, are increasing the downloading of fitness apps in North America.
Asia Pacific is expected to be the most lucrative regional market.
- Scope of the Report
- Base Year- 2021
- History Period- 2018-2021
- Forecast Period- 2022-2030
- CAGR- 17.6%
- Market Value in 2022- USD 1.3 Billion
- Market Value in 2030- USD 4.8 Billion
- Segments Covered- Type, Platform, Region and Device
- Applico Inc
- Fitbit LLC
- Myfitness Pal, Inc.
- Nike Inc.
- North America
- Asia Pacific
- Latin America
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Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Fitness App Market?
- How will the Fitness App Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Fitness App Market?
- What is the Fitness App market drivers and restrictions?
- What will be the CAGR and size of the Fitness App Market throughout the forecast period?
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