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Nov-2021

Global Fitness App Market Size To Hit USD 17.66 Bn By 2026

Global Fitness App Market Size, Share, Trends, COVID-19 Impact and Growth Analysis Report – Segmented By Type, Platform, Device and Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) – Industry Forecast (2021 to 2026)

As per the research report published by Market Data Forecast, the size of the global fitness app market is predicted to be growing at a CAGR of 27.45% from 2021 to 2026 and worth USD 17.66 Bn By 2026.

COVID-19 impact on the global fitness app market:

In the wake of the Coronavirus pandemic, many businesses have endured a great deal of disruption. However, sectors such as fitness and healthcare are experiencing rapid growth during this timeframe, and their apps have positive effects.

Fitness industry players are looking for novel ways to reach their customers. Fitness centers and gyms offer online courses, live streams of fitness classes, and personal training sessions using video applications. Due to the COVID-19 outbreak, several brick-and-mortar fitness studios and gyms were closed, resulting in many revenue losses and closures for the fitness industry worldwide. As a result, fitness apps for at-home training have grown rapidly. Fitness app developers announced their plans to collaborate with technology companies to create more premium exercise content. In addition, they increased their investment to develop innovative apps. Industry analysts claim that even as some brick-and-mortar gyms and fitness studios open their doors post-COVID, virtual exercise is still a crucial part of routines. Hybrid gyms that combine online and brick-and-mortar are likely to persist after the pandemic ends. The uplift of the lockdown may lead to an increase in product demand throughout the world. Virtual fitness courses will be available to use Apple Watch metrics. During COVID-19, it would support people with a wide variety of physical activities at home.

KEY DRIVING FACTORS:

Global aging populations and chronic diseases such as diabetes & obesity are increasing the growth of the worldwide fitness app market. In addition, fitness app adoption is driving fitness app market growth due to high smartphone and tablet penetration across all ages. The Fitness application works on any mobile device, such as a smartphone or tablet. Typically, these applications are designed to assist users with exercise and other fitness-related activities, diet & nutrition, health tracking, or other fitness-related topics. In addition, the pandemic period could boost opportunities in the future due to the adoption of fitness apps among geriatrics.

RESTRAINING FACTORS:

Fitbit and other fitness apps and trackers are expected to be made at a high cost, limiting the market growth. Fitness app demand is expected to be impacted by high initial investments necessary to upgrade technology and change user preferences & techniques. In addition, online fitness programs rarely allow your instructor to see you, assess your form, and make corrections based on your results. In other words, it could unintentionally cause you to execute exercises improperly or even dangerously without understanding it.

In addition to the need for innovation, the fitness app market faces the challenge of attracting users. Apps provide a wide range of services but need a better user interface, physical activities that engage the user, and tips from well-known medical experts. The content of new apps must be improved to this level over time, and businesses struggle at the beginning. Having a gym membership or visiting a fitness center is also thought to be beneficial because people get motivated to exercise when they see others exercising.

KEY MARKET INSIGHTS FROM THE REPORT:

In 2020, more than 50% of the global fitness apps market was consumed by exercise and weight loss apps. Nowadays, people mostly use these apps because they can't go to gyms or fitness centers. As with the previous segment, it is expected to have a promising future during the forecast period.
Due to the increased adoption of Android devices, the Android segment is projected to grow at the highest rate in the forecast period, particularly in countries like Egypt, India, Brazil, Ireland, Portugal, Turkey, and South Africa. Since IOS-based devices are more expensive than Android-based devices, the IOS platform is more popular in the American and European regions. Since iOS users are still fewer than Android users, many popular apps are available on both platforms.
Smartphones are expected to grow at the fastest rate during the forecast period. An increase in smartphone usage is mainly responsible for this growth. Video conferencing and alarms are among the features now built into apps, which help users get a better user experience.
With a 30 percent market share in 2020, North America led the global fitness app market by geography. Fitness apps are attracting investment from companies in the USA and Canada, which have recognized their potential.
Appster, Motorola Mobility LLC, Azumio, WillowTree, Inc., Under Armour, Dom and Tom, Grandapps, Fitbit, ASICS, WillowTree, Inc., and MyFitnessPal Inc. are some of the major vendors that are dominating the global fitness app market.

MARKET SEGMENTATION:

By Type: