Global Fitness App Market is Expected to Grow by USD 20.76 Billion Progressing at a CAGR of 21.4 % By Forecast 2027
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Global Fitness App Market is Expected to Grow by USD 20.76 Billion Progressing at a CAGR of 21.4 % By Forecast 2027

10/09/2022  |   286 Views

The Global Fitness App Market which was valued at USD 4.4 million in 2021, is expected to rise at a CAGR of 21.4 % percent to reach USD 20.76 million by 2027. The study examines the current market in-depth and projects its success in the coming years. MMR’s brief analysis examines the key aspects of the Fitness App industry to help you make more informed business decisions. The research provides an overview of the Fitness App industry, identifying prevalent challenges and offering data that may be updated as needed. MMR experts are delving into the intangible realities that lie behind the industry’s major restrictions, opportunities, and threats, all of which are projected to have an impact on its growth throughout the projection period.

Global Fitness App Market Dynamics:

The growth of a wealthier middle class has resulted in a considerable increase in demand for fitness Platforms. The fitness business has changed in a number of ways as a result of technological advancements. The emergence of fitness applications has been critical in bringing fitness into homes. Nutrition and diet apps make it easier to plan and implement good eating habits. The adoption of sports and fitness equipment for tracking activities and heart rates, as well as demand for wearable fitness devices, are some of the major reasons driving the global fitness app market forward.The increased use of smartphones is a crucial factor propelling the market forward. Smartphone penetration will rise to 77 percent by 2025, up from 57 percent in 2017, according to the Mobile Economy Survey 2018. Unique mobile consumers are predicted to reach 5.9 billion by 2025, according to the Mobile Economy 2018 study. Additionally, the rising popularity of wearable devices such as the Apple Watch and Fitbit is propelling the market growth.

Global Fitness App Market Insights:

The market is divided into three types: Because of the increased prevalence of obesity, the exercise and weight reduction segment accounted for 54.7 percent of the market in 2020. According to the World Health Organization, the incidence of obesity quadrupled between 1975 and 2016. Obesity claimed the lives of 8% of the world’s population in 2017, according to a study done by the Global Burden of Disease. Furthermore, rising public awareness of the unfavorable health consequences of obesity, such as diabetes, cancer, and cardiovascular disease, is expected to fuel segment growth.

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COVID-19 Impact Analysis on Global Fitness App Market:

Governments’ lockdown and social distancing practise stopping the spread of the COVID-19 virus have had a severe influence on gyms and fitness facilities throughout the world. Consumers, on the other hand, have moved their attention to online fitness programmes and applications.

Between the first and second quarters of 2020, the number of daily active users on fitness apps climbed by 24% in the Asia Pacific, 11% in Europe, 8% in the Americas. Furthermore, several fitness applications are seeing a rise in downloads and profitability. In April 2020, for example, HealthifyMe, an Indian fitness app, had a 30 per cent rise in visitors and a 40 per cent increase in income.

Global Fitness App Market Regional Insights:

In 2021, North America will account for 21.4 % percent of sales. This might be attributed to increased health awareness and the widespread use of fitness applications. During the COVID-19 epidemic, the usage of fitness apps increased dramatically. According to Frenetic, a provider of artificial intelligence-based fitness and lifestyle teaching, 74% of Americans utilized at least one fitness app during the COVID-19-related lockout. However, 60% of them plan to cancel their gym memberships.

Asia Pacific is predeicted to be the most profitable regional market over the forecast period. Key drivers driving the Asia Pacific market include increased smartphone penetration, rising health awareness, and an increase in the usage of fitness applications. Additionally, during the COVID-19 epidemic, the region saw a significant increase in fitness app downloads. According to a World Economic Forum survey, health and fitness app downloads in India increased by 157 percent, resulting in 58 million new users. Downloads of health and fitness applications increased by 47 percent in the Asia Pacific.

Global Fitness App Market is Expected to Grow by USD 20.76 Billion Progressing at a CAGR of 21.4 % By Forecast 2027

Global Fitness App Market Segmentation:

By Type

Exercise & Weight LossDiet & NutritionActivity TrackingBy Platform

AndroidiOSOthersBy Device

SmartphonesTabletsWearable DevicesBy Geography

North AmericaEuropeAsia PacificMiddle East & AfricaLatin America

Global Fitness App Market Key Players:

FooducateGoogleKayla ItsinesMyfitnesspal, Inc.NikeNoomAdidasAppsterAsics America CorporationAzumio, Inc.Fitbit, Inc.Fitness keeperPolar ElectroUnder Armour, Inc.Willowtree, Inc.APPLICO INC.Aaptiv IncAppinventivSamsung ElectronicsTom-tomLenovoGrand Apps

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