Fitness App Market: $13,016.77M by 2025, 25.61% CAGR
The Global Fitness App market is expected to grow from USD 3,312.58 Million in 2019 to USD 13,016.77 million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 25.61%.
Based on the region, North America is expected to witness the highest growth during the forecast period. North America’s dominance is attributed to the growing demand for wearable devices such as smart bands, smartwatches, and smart rings, increasing awareness about diet-related diseases, and growing smartphone penetration.
Major factors driving the growth of fitness app market are demand for real-time data, increasing emphasis on maintaining a healthy lifestyle, the emerging trend of wearable fitness equipment, increasing acceptance of sports & fitness apps for tracking activities & heart rates, and the widespread penetration of the internet.
Based on the health and fitness apps statistics for 2019, several private companies are analyzing the market to launch new fitness apps that offer various types of training modules. These fitness apps also provide users with diet maps, allowing them to improve their wellbeing.
TRENDS INFLUENCING THE FITNESS APP MARKET SIZE
The rising penetration of smartphones and tablets is expected to drive the growth of the fitness app market. Some apps provide personalized services based on specifications and body physiology, while others are fitted with sensors to target general body function and movement.
The growing demand for real-time data and increasing people’s emphasis on maintaining a healthy lifestyle is expected to increase the fitness app market size.
Due to the outbreak of the COVID-19 pandemic, individuals were unable to attend gyms and wellness facilities to do physical activity. This, in turn, has contributed to a huge rise in the fitness app market.
The rising incidence of obesity and the increasing number of related diseases are fueling the fitness-app market. This market’s growth has been supported by the growing need for consumers to lose weight and remain healthy while sustaining their lifestyles. The rising obese population, the sedentary lifestyle of the population and the rise in disposable income are other factors that drive the health and fitness app market size.
Another factor that is expected to increase the fitness app market size is the increasing investment by key players in the production of advanced fitness apps and successful acquisitions & mergers between businesses. However, the availability of low-cost alternative apps with similar features could impede market growth.
FITNESS APPS MARKET SHARE
During the forecast period, Asia-Pacific is anticipated to record the highest CAGR. Asia-Pacific is projected to be the fastest-growing region on the market due to the rising consumer demand for a healthy lifestyle, the continuously growing interest in a nutritious diet and the demand for better healthcare across countries in the region. In addition, increased disposable income is also driving the growth of the Asia-Pacific fitness app industry. (ValueReports)
