ID: MRFR/ICT/0896-CR | April 2020 | Region: Global | 128 pages
Global Fitness App Market is estimated to register a valuation of USD 298.30 Billion by 2026 with a 31.25% CAGR during the forecast period (2020–2026).
Fitness apps are garnering increasing market prominence worldwide. With brick-and-mortar gyms and fitness studios closed during the coronavirus pandemic, fitness enthusiasts had no choice but workout at their homes only this further accelerated the growth of at-home fitness apps.
Some fitness app market trends influencing the market growth include implementing features like virtual trainers, live workouts, AI personalized workouts & diet plans, use of machine learning & movement recognition technologies, daily progress tracking, and social sharing with geolocation.
The COVID-19 outbreak hit the fitness industry, particularly brick-and-mortar gyms and fitness studios, closing down several facilities and causing huge revenue losses to the industry across the globe. This, as a result, accelerated the growth of at-home fitness apps. At the onset of the opportunity, fitness app developers fostered their strategic initiatives with technology companies to develop more premium workout content.
They ramped up investments to develop innovative apps. Industry experts assert that post-COVID, even if some brick-and-mortar gyms and fitness studios open their doors, virtual workouts remain a sizeable part of routines. When the pandemic recedes, the adoption of a hybrid model of online/ brick-and-mortar gyms is likely to retain. Also, the product demand is expected to pick up following the uplift of the lockdown in countries worldwide.
Rising Health Awareness to Bolster Growth
Fitness apps are mobile-based software designed specifically to assist users with a fitness regime, such as various types of physical training & exercise, nutrition & diet, health tracking, and other fitness-related topics. Factors such as the increasing awareness for health and rising adoption of sports & fitness applications drive the fitness app market growth. Besides, the increased use of mobile applications and the growing demand for wearable fitness devices influence the fitness app market share.
The influence of media & advertising, alongside the penetration of the internet and advanced technologies, positively impact the fitness app market growth. Moreover, changing lifestyles, increasing disposable income of consumers, and the availability of various health & fitness applications are other key factors boosting the fitness app market size. Furthermore, evolving health and fitness measures due to busy schedules, alongside the ease of purchase, download, and use, increase the fitness app market demand.
Emerging Nations Present Robust Opportunities
Rapidly developing nations across the globe present untapped opportunities for the fitness app market. Due to the rapid economic growth, emerging countries such as India, Japan, China, Australia, and South Korea are witnessing a spurting rise in disposable income, changing lifestyles, and smartphone users. Moreover, the digitalization of the healthcare industry in developing countries is projected to offer a host of lucrative opportunities to industry players in the years to come.
Besides, various health benefits that these mobile apps offer at the user's comfort and convenience have led to increasing the adoption of various fitness apps for maintaining a healthy lifestyle. This trend is likely to continue in the future, offering significant growth opportunities.
High Costs to Restrain Market Growth
High cost involved in the fitness app and tracker development is a key factor estimated to restrict the market growth. Also, high initial investments required for technology upgrades and changing consumer preferences & techniques are major factors predicted to affect the growth of the fitness app market.
Inorganic Fitness App to Witness Significant Demand
The fitness app market is segmented into type, platform, device type, and region. The type segment is sub-segmented into workout & exercise apps, disease management, lifestyle management, nutrition & diet, medication adherence, and others. The lifestyle management segment is bifurcated into sleep tracker, period & ovulation tracking, meditation & brain training apps, and others.
The platform segment is sub-segmented into android, iOS, and windows. The device type segment is sub-segmented into smartphones, tablets, and wearable devices. By region, the market is bifurcated into the Americas (US, Canada, Mexico, Rest-of-North America) and South America, Europe (the UK, Germany, France, Italy, and Rest-of-Europe), Asia Pacific (China, Japan, India, South Korea, and Rest-of-the-APAC), and Rest-of-the-World.
North America to Maintain its Leading Position
North America is the leader in the global fitness app market and would maintain its leading position throughout the assessment period. In 2019, the fitness app market in North America reached a valuation of USD 16.82 billion, which is projected to grow further at 28.35% CAGR during the forecast period. Factors such as the increasing awareness regarding health and a vast base of fitness enthusiasts increase the fitness app market share of the region.
Besides, the proliferation of wearable devices, such as fitness bands, smartwatches, smart rings, etc., and smartphones positively impact the fitness app market growth in the region. The US is the largest market for fitness apps in North America. The US is one of the key smartphone markets in the world, having the highest percentage of smartphone penetration rate.
Besides, the presence of key fitness apps providers, such as Fitbit, and the increasing adoption of smartphone devices for activity tracking foster the market growth. The US fitness app market is expected to grow at a 27.56% CAGR during the review period.
Canada accounts for the second-largest market share due to the growing adoption of fitness apps among people with fitness and health concerns. The Canadian fitness app market is increasing steadily and is expected to grow at a 30.6% CAGR during the assessment period.
Europe Holds Second-Highest Share in Global Market
Europe accounts for the second-highest share in the global fitness app market. The market growth is led by the various government initiatives promoting health & wellness, growing digitalization, and the high cost of fitness centers. Moreover, increasing Internet connectivity and rising investments by the major players drive the market growth in this region. The UK is the major revenue contributor to the fitness app market in the region.
APAC is Rapidly Emerging as a Promising Market for Fitness Apps
Asia Pacific is rapidly emerging as a promising market for fitness apps and is expected to exhibit a sharp rise with a 33.46% CAGR during the forecast period. Factors such as the growing consumer demand for efficient tools that can support a healthier lifestyle and the continuously growing interest in a balanced diet boost the fitness app market size.
Furthermore, increased per capita disposable income in the region is driving the fitness app market growth. China, Japan, India, Singapore, Australia, and South Korea are the major markets for fitness apps. China dominates the regional market due to the high penetration of mobile phones and the increasing use of connected health devices.
The Indian fitness app market is expected to grow with the highest CAGR due to growing awareness towards fitness and the rising government initiatives to improve population health. The country also records high numbers of smartphone users across all age groups and the adoption of wearable fitness devices, which, in turn, create a vast fitness app market demand.
Players Focus on Product Development & Expansion
The fitness app market appears extremely fragmented, considering the presence of established manufacturers. Key fitness app market players seek opportunities to integrate across the extensive value chain while focusing on expanding production capacities, R&D investments, and M&A activities to gain additional impetus. They deliver reliable, leading-edge solutions and services, substantially investing in developing adept technologies and products.
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) are some of the affluent contenders holding sizeable fitness app market share.
Cure.fit Healthcare Pvt. Ltd. is an Indian holistic, integrated healthcare, aiming to address preventive healthcare. Cure.fit caters to physical fitness & wellness enthusiasts through a combination of engagement, coaching, and delivery using online and offline channels.
Cult.fit, the fitness category, focuses on physical strength through several offline group workout centers & gyms, offering app-based services available on android and iOS. Cure.fit had first entered the US market, earlier in July 2020, with its popular digital platforms, Cult.fit, the fitness app, and Mind.fit, the mindfulness and meditation app.
Jan. 21, 2021 – Andi Dorfman launched a new running app – Andorfins. The app is designed to challenge fitness enthusiasts to push themselves to the limit, featuring various challenges for every level of fitness and training plans. The mobile app is geared toward beginners and intermediate runners.
Jan. 20, 2021 – Oliver announced signing an agreement with telecommunications operator Hong Kong Broadband Network (HKBN) to advance its flagship Kara Smart Fitness app into the lucrative Asian market. Under the terms of the agreement, HKBN would initially purchase a minimum of 1,000 Kara units for its customers, offering them bundled rates for on-demand access to OliveX's immersive fitness content.
Jan. 18, 2021 – Indian fitness platform Cure.fit announced the acquisition of Onyx, a California-based digital trainer and workout app. In addition to building the world's smartest digital training experience, the acquisition would enable Cure.fit to accelerate towards building a hardware-agnostic AI-led platform that offers guided content on physical & mental wellness and nutrition all at the same place.
Jan. 13, 2021 – Vivendi SA, a French media conglomerate, announced signing an agreement with Equinox Media LLC, the world's most influential lifestyle brand, to add its largest music catalog to Equinox's various digital fitness app. The music industry is increasingly looking for new partners across the fitness industry, social media, and videogames, for revenue beyond streaming.
Jan. 11, 2021 – Kayala Itsinses, an Australian fitness influencer, launched a Sweat Lens on Snapchat utilizing the social media platform's interactive 3D technology and augmented reality (AR) features. The interactive 3D technology creates an AR experience that moves with the entire body and tracks body movements, supporting users to maintain correct technique and form.
The fitness app market analysis feature unique and relevant factors anticipated to significantly impact the market growth during the assessment period. The detailed fitness app market forecast report would help industry players to understand the market better. The report defines the historical and current fitness app market trends boosting the growth of the market.
Additionally, the COVID-19 impact on the fitness app industry is also included in the report. Regional assessment in this report and unlocks several untapped opportunities in regional and international markets. Detailed company profiling enables users to evaluate company shares, emerging product lines, pricing strategies, innovation possibilities, the scope in new markets, and much more. Alongside fitness app market statistics, the report also covers the analysis of fitness app market developments.
Frequently Asked Questions (FAQ) :
Android, iOS, Windows and others are the primary segments considered in the report, with respect to deployment.
Wearable devices refer to the technology devices that are generally worn by consumers and usually include tracking information that associated with the health as well as fitness. Its growing demand is leading to significant market growth across the globe.
Rising awareness about health among people, rising use of smartphones and the backing by the developed countries like the U.S and Canada establish North America’s dominance in the market.
Activity tracking apps, nutrition apps, exercise and workout apps are the different types of fitness apps.
Fitness apps benefit its user by motivating them, giving personalized routines, boosting competition between family and friends, and rewarding them once they achieve their targets.