Fitness App Market Size to Record 21.3% CAGR Through 2027

Fitness is one of the key segments in the IT industry, which is exhibiting immense growth for the past 10 years in the U.S. This can be attributed to a range of factors, including people spending more time online, increasing awareness regarding the benefits of wearable devices, and the growing spending power of middle-income households. An increase in the usage of smartphones by people of all income groups is also contributing to a rise in the adoption of fitness apps. This has been indicated by a change in the market share trend since 2013, wherein the Asia market outperformed the North American fitness apps market. This is majorly owing to a difference in the target population, wherein adoption was reported to be high in countries, such as China and India.

The COVID-19 pandemic has resulted in a transition of consumers from traditional gyms and fitness studios to virtual avenues. Moreover, the growing trend of online training and home exercise among various target groups has led to an increase in the usage of fitness apps, further contributing to the market growth. As per an article issued in the World Economic Forum in September 2020, the downloads of fitness apps have increased globally by 46%, and the market is expected to grow further owing to the increasing adoption of smart wearables, smart devices, and smartphones. Moreover, an increase of 48.0% in the revenue generated by fitness apps was witnessed in 2020 over 2019 owing to the growing adoption of these apps during the pandemic.

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Report Coverage

The report provides rational insights along with historical and forecast data to aid in better understanding of the Global Fitness App Market. The report provides a comprehensive analysis of key factors that are expected to drive the growth of the Fitness App market. This study also provides a detailed overview of the opportunities along with the current trends observed in the target market.

The report includes thorough compilation of the quantitative analysis of the industry for the period of 10 years in order to assist players to grow in the market. Insights on specific revenue figures generated are also given in the report, along with projected revenue at the end of the forecast period. This study includes a widespread analysis of the key segments of the industry. This analysis sheds light in the current trends and opportunities in the global Fitness App market.

Regional analysis:

In 2020, North America accounted for the largest revenue share of 34.7%. This is attributed to increasing awareness about health and the high adoption rate of fitness apps. The usage of fitness apps rapidly increased during the COVID-19 pandemic. During the COVID-19 related lockdown, 74.1% of the Americans used at least one fitness app, according to a survey conducted by Freeletics, a provider of artificial intelligence-based fitness and lifestyle training. Moreover, 60% of them are planning to cancel gym memberships.

Asia Pacific is anticipated to be the most lucrative regional market during the forecast period. Key factors such as growing smartphone penetration, rising health awareness, and an increase in the penetration of fitness apps are driving the market in Asia Pacific. Moreover, during the COVID-19 pandemic, the region saw a significant increase in the downloading of fitness apps. According to an article published in the World Economic Forum, the health and fitness app downloads increased by 157% in India, which is equivalent to 58 million new users. Health and fitness app downloads increased by 47% in Asia Pacific.

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Key Points of the Global Fitness AppMarket Report:

• The report provides a basic overview of the Fitness App industry including its definition, applications, and manufacturing technology.
• The report also explores the major international players in detail. In this part, the report presents the company profile, product specifications, capacity, and production value up to’2027 year’, along with the market shares for each company.
• Through the statistical analysis, the study depicts the global market for Fitness App including capacity, production, production value, cost/profit, and supply/demand from an international perspective.
• Considering segmentation, the market is divided in terms of product, end-use, company, region, and other important aspects. Each of these categories forms an important base point for the competitive landscape analysis.
• The report then estimates the market development and trends of the Fitness App industry up to 2027.
• The report hints at crucial information associated with new market developments being undertaken in the Fitness App industry before evaluating its feasibility.

Competitive Analysis

The report covers major players operating in the market along with the key strategies implemented to achieve a competitive edge against a majority of the vendors which provides a competitive outlook of the industry. The competitive landscape further includes details about different players and their position on a global and a local level is also explained in detail in this compiled study. These insights were prepared through mapping business strategies and products that offer high revenue generation capacities. Key players of the global Fitness App market are included as given below:

Some of the prominent players in the Fitness App market include:

Adidas; Appster; Fitbit, Inc.; FitnessKeeper; Azumio, Inc.; MyFitnessPal Inc.; Nike; Noom; Under Armour, Inc.; Applico; Aaptiv; Appinventiv

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:

• By Type

• • Exercise & Weight Loss
  • Diet & Nutrition
  • Activity Tracking
• By Platform
  • Android
  • iOS
  • Others
• By Device
  • Smartphones
  • Tablets
  • Wearable Devices

Reasons to Purchase this Report:

• Estimates Fitness App development trends with SWOT analysis
• Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players
• Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market’s expansion
• Market dynamics scenario, along with growth opportunities for players in the years to come
• Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the mentioned forecast period
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects

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