The growth of the Fitness app market is primarily driven by the penetration of smartphones and wearable devices. Growing prevalence of obesity, the trend towards adopting a healthy lifestyle, rising disposable income of consumers, and easy availability of cost-effective apps are the major factors that are driving the demand for fitness apps.
The global Fitness app market was valued at USD XX million in 2018 and is expected to reach USD XX billion by 2026, growing at a CAGR of 24.2% during the forecast period.
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Fitness industry is one of the fastest-growing sectors in the IT-industry. Health and fitness have always been popular among consumers, but the evolution of apps and technology has changed the outlook of the fitness industry in the recent past. A fitness app is a software application designed to be installed in mobile devices to track your physical activity such as steps, calories burned, stairs climbed, hours slept, and others. These apps assist users in achieving their health and fitness goals.
Fitness app is experiencing tremendous growth owing to the penetration of smartphones and wearable devices. Growing prevalence of obesity, the trend towards adopting a healthy lifestyle, rising disposable income of consumers, and easy availability of cost-effective apps are the major factors contributing towards the growth of the market.
Consumers are gradually becoming concerned about weight loss, calorie intake, and proper nutrition, thus supplementing the growth of the fitness app market. Further, health & fitness apps have become a focal part of most fitness enthusiasts’ daily routine and a vital tool to make lives healthier. The market for fitness apps is evolving because more and more people are trying to adopt a healthy lifestyle. Users using such apps are promoting them, owing to the various advantages offered by these apps, such as activity monitoring, calculation of calorie intake, and others.
Key Findings:
• Based on App Type, the workout apps account for the largest share in the market and are expected to grow at a significant CAGR during the forecast period. The market is driven by the rising number of people using fitness apps to track their workout goals and activities.
• Based on Platform, the android segment accounts for the largest share in the market and is expected to grow at a steady CAGR during the forecast period. Majority of fitness apps are designed on android platform, owing to its advantages over IOS platform, such as its open system feature and the process of release on google play.
• Based on Device Type, the wearables segment is growing rapidly in the fitness app market with the highest CAGR during the forecast period. Wearables devices are worn by end-users for tracking and monitoring information related to health and fitness.
• North America accounted for the largest share in the global fitness app market in 2018 owing to the high consumption rate of smartphones and wearable devices.
Recent News:
• In July 2019, VAY Sports launched a new fitness app that uses artificial intelligence to motivate and correct the user on exercise execution in real time.
• In May 2019, Future launched a US$ 150 per month exercise app where it assigns you an actual trainer who prepares personalized workout plans and messages you throughout the day to make sure you’re doing them.
• In March 2019, Swiss army launched a new fitness app designed to get their recruits fit before they arrive at the recruit school.
• In December 2018, Freeletics raised US$ 45 million in Series A funding. This will expand its presence in the US and other international markets.
• In August 2018, WHOOP has raised a whopping US$ 25 million in a new round of funding from investment firms and individual investors including the Durant Company.
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