Fitness App Market To Observe Highest Growth of USD 7.03 Billion and Growing at a CAGR of 26.1% by 2029
The global Fitness App Market is expected to witness significant growth during the forecast period. The global fitness app market is growing tremendously due to rising inclination towards fitness and weight reduction, increasing the prevalence of chronic diseases including diabetes. The rising popularity of using smartwatches and bands is also driving market growth. Fitness apps provide synced series of songs, each having the same beat when doing workouts such as running and fitness classes.
The expected CAGR of global fitness app market is tend to be around 26.1% in the mentioned forecast period. The market was valued at USD 1.10 billion in 2021, and it would grow upto USD 7.03 billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
A fitness app is defined as an application that can be downloaded on smart devices including laptops, phones, and tablets among others. According to the online public health resource (Health Works Collective), more than 97,000 fitness and health apps are available on tablet and mobile devices. Moreover, approximately 52% of the smartphone users achieve health-associated information through their devices and approximately 15% of the users are between the age of 18-29 years old who have installed health apps. There are several types of fitness app available including care management apps, vital sign monitoring apps, health and wellness apps, women health apps, medication management apps, consultancy apps among others.
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Global Fitness App Market Dynamics
Drivers
- Rising Demand for Subscription Based Plans
Subscription based segment is projected to dominate the market as it provides the people with customized plans, diet charts and workout routines. Such advantageous factors are boosting the growth potential of the subscription-based segment.
- Increased Indulgence of Smartphones
Increased use of smartphones has led to the growth of the global fitness app market. According to the Mobile Economy Survey 2018, smartphone involvement is set to rise from 57.0% in 2017 to 77.0% by 2025. In addition to this, unique mobile subscribers are anticipated to reach 5.9 billion by 2025 according to the Mobile Economy 2018 survey. Moreover, the increasing adoption of wearable devices including Fitbit and Apple Watch will further aid the market growth.
Opportunities
- Emerging Functionalities in the apps
New functions and advanced features of the fitness apps are further added to upgrade the consumer experience. For instance, in June 2020, HealthifyMe which is a health and nutrition app launched HealthifyMe Studio, which provides live streaming interactive workouts.
- Increased Funding and Investment Ventures
The effectiveness and adoption of these fitness apps have led to the rising investments in the fitness app sector. For instance, Future Fitness announced that it has received USD 8.5 million in Series A funding led by Kleiner Perkins in May 2019. Other investors in the company are Caffeinated Capital, Khosla Ventures, Founders Fund, and Instagram co-founder Mike Krieger. In addition, Fittr raised USD 2.0 million in April 2020. This is expected to positively impact the market growth.
Restraints/Challenges
- Lack of skilled professionals
The lack of qualified personnel who are unable to use these devices could curb the growth of the global fitness app market over a forecast period.
- High Cost
The huge expenditure required for setting up or develop the apps surely hamper the market growth. Several market players make huge investments in installing new and advanced apps to faster the process; in return, the cost is increased.
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Global Fitness App Market Scope
The global fitness app market is segmented on the basis of product, type, application, therapeutic area , mode of purchase, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Care Management Apps
- Vital Sign Monitoring Apps
- Health And Wellness Apps
- Women Health Apps
- Medication Management Apps
- Consultancy Apps
- Others
Type
- Connected Apps
- In-Built Devices Apps
Application
- Training
- Tracking
- Fitness Games
- Others
Therapeutic Area
- Cardiovascular
- Dermatology & Skin Cancer
- Ophthalmology
- Diabetes
- Respiratory
- Audiology
- Sleep Disorders
- Nutrition
- Others
Mode Of Purchase
- Subscription Based
- Non-Subscription Based
End-User
- Providers
- Home Healthcare
- Others
Distribution Channel
- Direct Tenders
- Third Party Distributors
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Regional Analysis for Fitness App Market:
- APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
- North America (U.S., Canada, and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, UAE, South Africa)
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