According to a recent report published by Allied Market Research, titled, “Fitness App Market by Device Type, Operating System and Type: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global fitness app market size was valued at $13.78 billion in 2020, and is projected to reach $120.37 billion by 2030, growing at a CAGR of 24.3% from 2021 to 2030.
Fitness apps are now utilizing artificial intelligence, machine learning, and other technologies to provide personalized fitness programs to their customers. They also offer no equipment workout routines, personalized diet charts, monitor diet, track footsteps, and also provide personalized health coaches, which in turn fuels the growth of the market. In addition, it provides solutions to automate the fitness guidance process and replace routine manual work. Furthermore, the key factor that drives the market includes increasing emphasis on maintaining a healthy lifestyle and increasing use of smartphones, tablets and wearable devices positively impacts the growth of the market. In addition, increasing awareness about diet-related diseases boost the growth of the market across the globe. However, factors such as technical issues in apps and the high cost of in app purchases and concerns regarding data security and stringent regulations are limiting the fitness app market growth. On the contrary, technological advancements in AI and machine learning and rising disease prevalence of hypertension, obesity, and cardiac problems are expected to offer remunerative opportunities for the expansion of the fitness app market during the forecast period.
Based on device type, the smartphone segment dominated the fitness app market share in 2020, owing to increase in penetration of smartphone users globally. In addition, fitness app is being used via smartphones as it is a cheap alternative from expensive gyms and fitness centers. However, the wearable devices segment is expected to witness significant growth during the forecast period, owing to increase in demand for connective capabilities and the possibility of real-time communication between the end user and fitness instructors. In addition, it is enabling fitness watches to substantially increase the exercise efficiency with added capabilities such as music.
Region wise, the fitness app market size was dominated by North America in 2020 and is expected to witness the highest growth rate during the forecast period, owing to growing popularity of fitness apps among the younger population. In addition, growing demand for rising health & fitness awareness and online fitness training is providing a lucrative opportunity for the market. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to rising application of data analytics in fitness such as evaluating and developing fitness or yoga programs, detecting anomalies in scans and predicting outbreaks are expected to boost the fitness app market.
The outbreak of COVID-19 is anticipated to have a positively impact on growth of fitness app market. This is attributed to rise in demand for fitness apps to improve their health and build up immune system to prevent the adverse effects of COVID19. Moreover, health and fitness app industry set global records for the highest level of both weekly downloads and consumer spend at 59 million and $36 million, respectively during the week of March 22, 2020. In addition, according to a study by MoEngage in 4th quarter of 2020, home fitness apps across five different regions, represented 1.5 billion mobile app users. Furthermore, the demand for fitness app industry increased significantly and majority of the population in developed countries have adopted fitness apps during the lockdown. For instance, according to a mid-2020 survey by OnePoll, 74% of Americans used at least one fitness app during quarantine, and 60% enjoyed their home workouts so much, they now plan on canceling their gym membership.
Key Findings Of The Study
- By application, the exercise and weight loss segment accounted for the largest fitness app market share in 2020.
- Region wise, North America generated highest revenue in 2020.
- Depending on platform, the iOS segment generated the highest revenue in 2020.
The key players profiled in the fitness app market analysis are Aaptiv Inc, Addias, Azumio, Inc., Fitbit LLC., FitnessKeeper, MyfitnessPal, Inc., Nike, Inc., Noom Inc., an Under Armour, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the fitness app industry.