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

Fitness Apps Market 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 Market 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

Rise in emphasis on maintaining a healthy lifestyle, surge in awareness about diet-related diseases, and increase in use of smartphones, wearables, and tablets drive the global fitness apps market. However, technical issues in apps, the high cost of in-app purchases, and concerns regarding data security and strict regulation of data privacy hinder the market growth. On the contrary, technological advancements in AI and machine learning and increase disease prevalence of hypertension, cardiac problems, and obesity are expected to unlock new opportunities for the market players in the future.

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Covid-19 scenario:

  • The Covid-19 pandemic favored the demand for fitness apps due to increase in implementation of lockdown by the government in the majority of countries and rise in adoption of digital solutions by gyms and studios.
  • The shift to remote work increased the demand for fitness apps to improve health and immune system to prevent Covid-19 infection.

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The smartphone segment held the lion’s share

By device type, the smartphone segment held the largest share in 2020, accounting for more than half of the global fitness apps market, due to ease-of-use, social influence, goal-setting, self-efficacy, and self-monitoring provided by smartphones. However, the wearable devices segment is expected to register the highest CAGR of 25.5% during the forecast period, owing to trend of wearable technology among the youth.

The Android segment to manifest the highest CAGR through 2030

By operating system, the Android segment would showcase the highest CAGR of 26.1% from 2021 to 2030, due to rapid adoption of android devices among the young generation of developing nations. However, the iOS segment held the largest share in 2020, contributing to more than half of the global fitness apps industry, as it offfers a better premium class plans.

North America held the largest share

By region, the market across North America held the largest share in 2020, accounting for more than one-third of the market, owing to the growth in popularity of fitness apps among the younger population. However, the global fitness apps market across Asia-Pacific is projected to manifest the highest CAGR of 26.3% during the forecast period, due to rise in application of data analytics in fitness such as evaluating and developing fitness or yoga programs, detecting anomalies in scans, and predicting outbreaks.

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Major market players

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

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Similar Reports:

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Healthcare Analytics Market Expected to Reach $96.90 Billion by 2030

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