Fitness Apps Market Size – $3.61 billion 2020 Industry Growth – at a CAGR of 23.5% Industry Trends – Increasing number of health conscious people worldwide
NEW YORK, NY, UNITED STATES, April 13, 2022 /EINPresswire.com/ — The globe Fitness App Market According to the latest report published by Reports and Data, the size is expected to reach US$18.08 billion in 2028, registering a steady revenue CAGR of 23.5% during the forecast period. The key factors driving revenue growth of the global market include the fast-growing e-commerce sector, increasing use of smartphones and tablets, changing lifestyles, and rising number of lifestyle-related diseases.
People around the world suffer from anxiety, depression and stress as well as diseases like cancer, diabetes, cancer and obesity due to the increasing adoption of hectic lifestyles and busy schedules. To stay healthy, people focus on staying fit and memorizing good eating habits. This is leading to an increasing use of various fitness apps that can help track health and daily essentials and activities as they are easily affordable compared to gym and fitness center memberships.
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These fitness apps are specially designed to guide users to stay on top of and maintain their health through different types of physical exercise, workout, health tracking, nutrition and diet, among others. Key factors behind the revenue growth of the global market are increasing per capita income, rising investments in home exercise equipment and a growing propensity for online exercise sessions. In addition, increasing focus by healthcare professionals and companies on developing technologically enhanced fitness apps, government initiatives to encourage the use of fitness apps to improve and maintain people’s health, and increasing demand for various wearable devices such as smartwatches and smartbands are expected to be factors drive market growth.
However, high initial investments for fitness app development, high subscription fees for certain exercise and health apps, and increasing data security concerns are some key factors that might hamper the revenue growth of fitness apps market share to some extent during the forecast period.
Some key highlights of the report:
Among types, the workout and exercise apps segment is expected to account for the largest revenue share between 2021 and 2028, reflecting the increasing number of health-conscious individuals worldwide, the high prevalence of various chronic diseases and disorders such as obesity and diabetes, and the rising Awareness is due to a healthy lifestyle. In addition, there is a shift in preferences for home workouts, the availability of various fitness plans, increased internet penetration and the advent of 5G, and increasing adoption of smartphones and laptops.
Based on the application, the iOS segment is expected to register a significantly fast revenue growth rate during the forecast period. This growth is attributed to the increasing number of iOS users in various countries including the US, UK, Germany and Japan, the availability of various fitness and health applications, and increasing research and development of improved applications for iOS devices.
Among the platform segments, the wearable segment is expected to witness rapid growth during the forecast period. The increasing prevalence of cardiovascular disease, diabetes, obesity coupled with rapid advances in wearable tracker technology, increasing disposable income and an increasing focus on maintaining good health are some key drivers of the segment’s revenue growth.
North America is expected to account for the largest revenue share in the global market between 2021 and 2028 due to factors such as an increasing number of health-conscious people, increasing awareness of various fitness applications, high internet penetration, a rapidly increasing number of smartphone users and wearables Tracker, presence of key players. In addition, increasing investments to develop new applications with enhanced features are expected to drive the growth of the North American market in the coming years.
The Asia-Pacific region is expected to become a major region during the forecast period owing to factors such as increasing health awareness, rising internet penetration, rising incidence of lifestyle-related diseases, high adoption of smartphones and wearable devices, and rising investments for the development of improved connected health fast sales CAGR record devices.
Adidas AG, Fitbit, Inc., Appster, Azumio, Inc., MyFitnessPal Inc., Applico, FitnessKeeper, Aaptiv, Nike, Inc., Noom, Under Armour, Inc., Appinventiv, Grand Fitness, Curefit Healthcare Private Limited, Google LLC , Wahoo Fitness, Grand Apps, Asics Corporation, TomTom International BV, Lenovo Group Limited and Samsung Electronics Co. Ltd. are key companies that are profiled in the global market report.
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The report also provides detailed insights into the market segmentation by type, application, and regional breakdowns:
Fitness Apps Market Segmentation:
Type Outlook (Revenue, $Bn; 2018-2028)
Training and exercise apps
Nutrition & Diet
Brain Training Apps
Platform Outlook (Revenue, $Bn; 2018-2028)
Bid Outlook (Revenue, $Bn; 2018-2028)
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rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
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