Global Fitness Apps Market
Number of pages: 100 | Report Format: PDF | Published date: February 14, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 5.5 billion |
|
Revenue Forecast in 2030 |
US$ 28.7 billion |
|
CAGR |
20.10% |
|
Base Year for Estimation |
2021 |
|
Forecast Period |
2022-2030 |
|
Historical Year |
2020 |
|
Segments Covered |
Type, Platform, Device, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global fitness apps market was valued at US$ 5.5 billion in 2021 and is expected to register a revenue CAGR of 20.10% to reach US$ 28.7 billion by 2030.
Fitness Apps Market Fundamentals
A fitness app is an application available on a mobile device or any other smart device that helps maintain or augment general fitness. They can be easily downloaded on smartphones, tablets, or laptops. These apps are specially designed to help with exercise, nutrition or diet, and other fitness-related stuff. The variable functionality of fitness apps includes step count, heart rate monitoring, blood pressure count, calorie counter and diet monitoring, workout guidance, and activity tracker. The awareness and adoption of fitness apps have increased in the recent few years due to busy lifestyles, increased stress levels, and depression among people across developed and developing countries.
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Fitness Apps Market Dynamics
The increasing prevalence of depression, anxiety, and diseases such as diabetes is the major driving factor of the fitness app market revenue growth. Along with this, rising obesity, unhealthy lifestyle, and lack of physical activity are also supporting the growing demand for fitness apps. Moreover, the demand for fitness apps is expected to rise in the next few years owing to the growing geriatric population, which requires continuous monitoring of blood pressure, heart rate, and other diseases. Additionally, the application of AI has improved consumer counseling and increased the market simultaneously.
However, these apps require a lot of personal data, and there have been increased cases of data breaches. Thus, data privacy becomes a key constraint in the fitness app industry. Increasing competition from the competitors is also expected to hamper the revenue growth of the market to some extent.
Fitness Apps Market Ecosystem
The global fitness apps market has been analyzed from four perspectives: type, platform, device, and region.
Fitness Apps Market by Type
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Based on the type, the global fitness apps market is segmented into workout & exercise, diet & nutrition, and activity tracking.
The workout & exercise segment dominates the market with the largest market revenue share. The large market revenue share can be attributed to the increase in the awareness of fitness, mostly due to obesity, which remains the primary cause as it eventually leads to various diseases, such as cancer, heart-related problems, bone diseases, gout, and diabetes. According to the June 2021 WHO report, around 2.8 million people die annually due to obesity and being overweight. Additionally, the ease of getting top-notch fitness-related consultations from the best instructors in the industry worldwide is also the reason behind the revenue growth of this segment.
Fitness Apps Market by Platform
Based on the platform, the global fitness apps market is segmented into Android, iOS, and others.
The iOS platform dominates the market with the largest revenue share. Widespread usage of iOS devices is boosting the platform market for iOS. Continuous improvement in the apps with new features, tasks, goals, and workouts attracts consumers. Apple claims that its devices have strong data encryption features, protect the user data, and regularly update security features, making the consumer feel more protected from data breaches. Moreover, seamless connectivity across the iOS ecosystem increases consumer convenience, and thus leads to market revenue growth.
Fitness Apps Market by Device
Based on device, the global fitness apps market is segmented into smartphones, wearables, and tablets.
The smartphone segment dominates the market with a large revenue share. This is attributed to the increase in the usage of smartphones on a global scale. Smartphones are used in the fitness business for home workouts, diet, or health consultation, and the smartphone market is growing as a result of consistently developing technology. On top of this, the cost of high-priced gym memberships can be easily avoided by using smartphones.
Fitness Apps Market by Region
Based on region, the global fitness apps market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominates the global fitness apps market due to the rising awareness among people about fitness. Along with being a technology giant, North America has the largest consumer base using fitness apps around the globe. Moreover, improved network connectivity, intelligent wearables, and a rise in initiatives by the regional governments to spread awareness of diseases and fitness is the major factor behind the revenue growth of the North America market.
The fitness apps market in Europe is expected to grow significantly in the coming years, driven by the increasing popularity of digital fitness solutions and the rising connected fitness trend. The growing trend of using mobile devices and the increasing availability of wearable fitness devices are also expected to fuel revenue growth in the market. Countries in Europe, such as the U.K., Germany, and France, are expected to be major contributors to the revenue growth of the market. In the U.K., the increasing number of fitness enthusiasts and the growing popularity of wearable fitness devices are expected to drive market revenue growth. In Germany, the rising focus on health and wellness and the growing adoption of digital fitness solutions are expected to fuel the revenue growth of the market. In France, the growing popularity of digital fitness solutions and the increasing number of health-conscious individuals are expected to drive market revenue growth. The growth of the fitness apps market in Europe is also driven by the increasing number of partnerships between fitness app developers and fitness equipment manufacturers, as well as the growing investment in research and development to improve the functionality and features of fitness apps.
The fitness apps market in Europe is expected to offer significant growth opportunities for market players due to the growth in popularity of digital fitness solutions, rise of the connected fitness trend, and the increase in the availability of wearable fitness devices.
Fitness Apps Market Competitive Landscape
The key players operating in the global fitness apps market are:
Fitness Apps Market Strategic Developments
The global fitness apps market is estimated to reach US$ 4.66 billion by 2030.
The increasing prevalence of depression, anxiety, and diseases; rising obesity, unhealthy lifestyle, and lack of physical activity and a growing geriatric population that requires continuous monitoring of blood pressure, heart rate, and other diseases are some of the factors driving the market growth.
Nike. Inc, Google LLC, Adidas AG, Under Armour, Inc, ASICS, Applico, LLC, Garmin Ltd., Nexercise, Inc., Aaptiv Inc., Azumio Inc., and Noom, Inc. are among the top market players.
North America accounts for the largest market revenue share followed by Europe, and Asia Pacific is the fastest-growing regional market for fitness apps.
Data privacy and rising competition from competitors are some of the restraining factors in the global fitness apps market.
*Insights on financial performance are subject to the availability of information in the public domain