fitness-app-industry-to-garner-$12037-bn,-globally,-by-2030-at-24.3%-cagr:-allied-market-research

Fitness App Industry to Garner $120.37 Bn, Globally, by 2030 at 24.3% CAGR: Allied Market Research

 

Allied Market Research recently published a report, titled, “Fitness App Industry by Device Type (Smartphone, Tablets, and Wearable Devices), Operating System (iOS and Android), and Type (Exercise & Weight Loss, Diet & Nutrition, Activity Tracking, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030″. As per the report, the global fitness apps industry was accounted for $13.78 billion in 2020, and is expected to reach $120.37 billion by 2030, growing at a CAGR of 24.3% from 2021 to 2030.

Drivers, restraints, and opportunities

Growing emphasis toward maintaining healthy lifestyle, increase in awareness about diet-related diseases, and surge in use of smartphones, wearables, and tablets drive the global fitness apps market. On the other hand, technical issues in apps, high cost of in-app purchases, and concerns regarding data security and strict regulation of data privacy hinder the market growth. However, technological advancements in AI and machine learning and increase in the prevalence of hypertension, cardiac problems, and obesity are projected to create lucrative opportunities in the industry.

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Covid-19 scenario:

  • The outbreak of the pandemic led to increase in adoption of digital solutions by gyms and studios, which has impacted the global fitness app market positively.
  • Also, there’s been a steep incline in demand for fitness apps among individuals to perk up their health and immune system.

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The smartphone segment held the lion’s share

Based on device type, the smartphone segment held the major share in 2020, generating more than half of the global fitness apps market, owing to self-efficacy and self-monitoring solutions provided by smartphones. The wearable devices segment, on the other hand, is projected to cite the fastest CAGR of 25.5% during the forecast period. This is attributed to growing trend of wearable technology among the youth.

The iOS segment held the highest share in 2020

Based on operating system, the iOS segment held the highest share in 2020, generating more than half of the global fitness apps industry. This is because it offers better premium class plans. The Android segment, however, would cite the fastest CAGR of 26.1% from 2021 to 2030.  This is due to growing adoption of android devices in the majority of countries.

North America held the major share

Based on region, the market across North America accounted for the highest share in 2020, contributing more than one-third of the global fitness app industry, due to rise in popularity of fitness apps among the younger race. On the other hand, the global fitness apps market across Asia-Pacific is expected to cite the fastest CAGR of 26.3% throughout the forecast period. This is owing to rise in application of data analytics in fitness apps such as assessing and developing yoga programs, spotting anomalies in scans, and so on.

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Prominent market players

  • Addias
  • Applico Inc.
  • Azumio, Inc.
  • Aaptiv Inc.
  • Fitbit LLC.
  • MyfitnessPal, Inc.
  • FitnessKeeper
  • Noom Inc.
  • Nike, Inc.
  • Under Armour, Inc.

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