In 2021, the market for fitness apps was estimated to be worth USD 157.9791617 billion. From 2022 to 2030, the market is expected to increase at a CAGR of 27.80%. Virtual exercise facilities have become more popular because of the COVID-19 epidemic, which caused widespread lockdowns and social isolation norms. The download and subscription rates for fitness apps have consequently grown.
Between brick-and-mortar gyms and in-app training, there has been fierce competition. The way the fitness industry operates has changed because of information technology. According to a World Economic Forum article from September 2020, the growing trend of online fitness training is pushing the market worldwide. It has caused a 46.0% increase in downloads of fitness and health apps worldwide.
Regional Analysis
North America currently leads the global fitness app market and will continue to hold this position throughout the evaluation period. The North American fitness app industry, valued at USD 16.82 billion in 2019, is anticipated to expand at a CAGR of 28.35% over the next five years. The region's market share for fitness apps is growing because of factors like rising health consciousness and a large population of fitness lovers.
Europe holds the second-largest market share for fitness apps globally. Many government initiatives promoting health & wellness, expanding digitization, and the high cost of exercise facilities are driving the market expansion. Additionally, rising big players' investments and increased Internet connectivity fuel this region's industrial growth. The region's fitness app market's largest source of revenue is from the UK.
Asia-Pacific is quickly establishing itself as a promising market for fitness apps and is anticipated to grow significantly with a 33.46% CAGR during the forecast period. The market size for fitness apps is increased by rising consumer desire for practical solutions supporting a healthier way of life and growing interest in a healthy diet.
Due to expanding government measures to enhance population health and growing fitness awareness, the Indian fitness app market is anticipated to develop at the highest CAGR. A great demand for fitness apps is created by the nation's high smartphone usage rates across all age groups and the uptake of wearable fitness gadgets.
Market Segmentation The global fitness app market is further segmented depending on the type, platform, and device type. Regarding bifurcation according to type, workout and exercise apps, disease management apps, lifestyle management, nutrition and diet apps, medication adherence apps, and brain training apps are considered under this category. Sub-segmentation of the market according to the platform varies from android to iOS to windows. While coming to the device types, it's segmented into smartphones, wearable devices, and tablets.
Key Players Some of the wealthy competitors with sizable fitness app market shares include Samsung Electronics Co. Ltd. (South Korea), Google LLC (US), TomTom International BV (The Netherlands), Nike Inc. (US), Lenovo Group Limited (China), Adidas AG (Germany), Wahoo Fitness (US), Under Armour Inc. (US), Azumio Inc. (US), Grand Apps (US), and Asics Corporation (Japan).