Fitness App Market Size To Reach USD 156.82 Billion, With a 27.8% CAGR by 2030 - Report by Market Research Future (MRFR)
Fitness Apps Market is Growing Due to The Rising Health Awareness to Bolster Growth
New York, US, Sept. 29, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Fitness Apps Market Research Report: Information by Device Type, Type, Platform, and Region - Forecast till 2030, the market is anticipated to acquire a valuation of approximately USD 156.82 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 27.8% during the assessment timeframe.
Fitness App Market Overview:
Fitness apps are gaining growing market prominence across the globe. With fitness studios and brick-and-mortar gyms closed during the coronavirus pandemic, fitness fanatics had no option but to work out in their homes, and only this further boosted the growth of at-home fitness apps.
Fitness App Market Competitive Analysis
The listing of renowned participants throughout the global Fitness App Market consist of players such as:
- Asics Corporation (Japan)
- Samsung Electronics Co., Ltd (South Korea)
- Adidas AG (Germany)
- Google LLC (US)
- Wahoo Fitness (US)
- TomTom International BV (The Netherlands)
- Under Armour, Inc. (US)
- Nike, Inc. (US)
- Azumio Inc. (US)
- Lenovo Group Limited (China)
- Grand Apps (US)
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Fitness App Market Report Scope:
|Revenue forecast in 2030||USD 156.82 Billion|
|Growth Rate||CAGR of 27.8% from 2022 to 2030|
|Key Market Opportunities||Emerging Nations Present Robust Opportunities|
|Key Market Drivers||Rising Health Awareness to Bolster Growth|
Market USP Covered
The global fitness apps market has overgrown in the last few years owing to the rising adoption of sports & fitness applications, increasing health awareness, growing demand for wearable fitness devices, and increased use of mobile applications.
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On the other hand, the high cost involved in the fitness app may restrict the market's growth.
The global health crisis in the form of COVID-19 has recently impacted most industry sectors severely. Unlike other market areas, the global market for fitness apps has witnessed massive growth during the pandemic. With partial or complete lockdowns worldwide, people chose to stay home, and the market witnessed a massive surge in demand. With people getting more & more aware of their health and fitness, the global market for fitness apps is anticipated to increase over the coming years.
Fitness App Market Segment Analysis
Among all the types, the exercise and weight loss segment will dominate the global fitness app market over the review timeframe. These apps motivate users to exercise frequently with the help of scheduled notifications. The prime aspect supporting the segment's growth is the rising adoption of exercise and weight loss apps across a large consumer group. On the other hand, the activity tracking segment is predicted to register the maximum CAGR over the assessment timeframe. The market is led by major brands such as Nike, Fitbit, and Jawbone.
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Among all the platforms, the iOS segment is predicted to secure the top position across the global market for fitness apps over the coming years. the main parameter supporting the segment's growth is the high adoption of iOS devices in the last few years. The fitness apps developed for iOS devices can offer inspiration & motivational videos for workouts, streaming workout classes, activity tracking, fitness coaching and stretching, guided meditations, and others. Some primary fitness apps developed for the iOS platform include PEAR, Strava, Centr, JEFIT, Keelo, 7 Minute Workout, Freeletics, MyFitnessPal, and Sworkit. However, the Android segment will exhibit the maximum growth over the review timeframe. The segment's growth is credited to the aspects such as the rising number of Android users at a rapid rate and the increasing adoption of smartphones across the globe.
Among all the devices, the smartphone segment is anticipated to dominate the global market for fitness apps over the assessment era. A rise in the penetration of smartphones across the globe is the prime parameter supporting the segment's growth. On the other hand, the wearable devices segment is anticipated to exhibit the maximum CAGR over the review timeframe.
Fitness App Market Regional Analysis
The global market for fitness apps is analyzed across five major regions: Europe, North America, Latin America, Asia-Pacific, and the Middle East & Africa.
According to the research reports by MRFR, the North American region led the global market for fitness apps in 2019 by accounting for the maximum contribution of around USD 16.82 billion. The regional market is anticipated to flourish substantially during the assessment timeframe at a healthy CAGR of approximately 28.35%. The primary aspect causing an upsurge in the regional market's growth is the growing awareness related to health and a massive base of fitness enthusiasts. Furthermore, the proliferation of wearable devices like smart rings, smartwatches, fitness bands, etc., and smartphones substantially influence the fitness app market's growth over the assessment era. The region has the US as the leading growth contributor. The country is known to have the maximum percentage of smartphone penetration rate. Apart from that, the presence of crucial fitness app providers, like Fitbit, and the growing implementation of smartphone device activity tracking are predicted to influence the growth over the assessment era. The nation is anticipated to overgrow at a healthy CAGR of approximately 27.56% during the review period.
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The fitness app market for the European region is expected to expand considerably during the assessment timeframe. Furthermore, the growing digitalization is another crucial parameter supporting regional market growth. Moreover, the aspects such as the high cost of fitness centers, growing investments by the major players, and increasing Internet connectivity are predicted to catalyze the growth of the regional market over the upcoming years. the region has the UK as the leading growth contributor.
The Asia-Pacific regional market for fitness apps is predicted to exhibit the highest CAGR of approximately 33.46% during the assessment timeframe. The primary parameter supporting the regional market's growth is the rising consumer demand for efficient tools supporting a healthier lifestyle. Furthermore, the consistently rising interest in a balanced diet is predicted to catalyze the regional market's growth over the review era. Moreover, the aspects such as increased per capita disposable income, increasing use of connected health devices, and high penetration of mobile phones are also predicted to influence the growth of the regional market over the coming years. In addition, the growing population across the region is anticipated to catalyze market growth.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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