According to Future Market Insights recently released Fitness Apps Market analysis report, the worldwide fitness app market is worth US$ 1.1 billion in 2021, with a CAGR of 19.7% anticipated from 2022 to 2032. Between 2022 and 2032, the global market is estimated to offer an absolute dollar opportunity of US$ 6.8 billion.
With the emergence of a global pandemic that prevented people from visiting regular gyms, the fitness App market exploded. People were encouraged to move to virtual training platforms after Covid caused widespread lockdowns and social alienation. The market is predicted to grow at a rate of roughly 20% due to increased subscriptions, compared to the historical average of 14.6% CAGR.
As people become more mindful of their physical and mental health, the fitness app market is expected to grow. Consumers have begun to track their health difficulties and, based on this information, have begun to adopt lifestyle changes for the better. Furthermore, the growing online network of fitness studios and gyms has aided in the adoption of these apps.
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Furthermore, posting fitness updates on social networking sites stimulates friendly competition. As a result, the demand for fitness apps will rise. The United Kingdom and Japan are expected to provide the most lucrative outcomes over the projected period of 2022-2032, expanding at a CAGR of 26% and 24.4%, respectively.
Key Takeaways from the Market Study
- The Global Fitness App market is expected to reach a market size of US$ 8.1 Billion by 2032.
- The market is expected to offer an absolute dollar opportunity of US$ 6.8 Billion in the coming 10 years by growing at a CAGR of nearly 20%.
- The exercise & weight loss category is expected to remain the dominant segment, with an estimated growth of 19.4% during the forecast period.
- Japan and UK are anticipated to provide the highest growth opportunity in terms of CAGR of 24.4% and 26% respectively.
Competitive Landscape
The Fitness Apps market is dominated by several national and international players. They compete on product innovation, quality, brand recognition, trustworthiness, and market presence to offer their services across multiple sectors. Market competitors are improving their goods with modern features to improve functionality and reliability in order to provide a better consumer experience.
In addition, the market expansion is expected to be aided by the big corporation’s fundamental mergers, collaborations, and acquisitions strategies.
Key developments in the market are:
- In October 2021, PEAR Sports acquired Aaptiv to expand its personalized approach to fitness and wellness programming for consumers and employers. The company plans to integrate Aaptiv’s offerings with PEAR Training Intelligence and make it a competitive fitness program service in the market.
- In April 2021, Adidas Runtastic collaborated with Tooz Technologies to develop a new immersive running experience for those athletes using smart glasses. This marked the start of research on the next-gen wearable technology.
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Get Valuable Insights into Fitness Apps Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global Fitness Apps market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
Market Segments Covered in Fitness Apps Market Analysis
By Type:
- Exercise & Weight Loss
- Diet & Nutrition
- Activity Tracking
By Platform:
- Android
- iOS
- Others
By Device Type:
- Smartphones
- Tablets
- Wearable Devices
By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
Table of Content
1. Executive Summary | Fitness Apps Market
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. Future Market Insights Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Fitness App
3.1.2. COVID-19 Impact Benchmark with Previous Crisis
3.1.3. Impact on Market Value (US$ Million)
3.1.4. Assessment by Key Countries
3.1.5. Assessment by Key Market Segments
3.1.6. Action Points and Recommendation for Suppliers
3.2. Key Trends Impacting the Market
3.3. Formulation and Product Development Trends
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Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10-years.
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