Fitness App Market Size to Reach USD 13,016.77 Million by 2025 | CAGR of 25.61% - Valuates Reports
BANGALORE, India, Nov. 5, 2020 /PRNewswire/ -- A new Fitness App Market Research Report published on Valuates Reports in Beauty & Fitness Category. The report contains segmentation Based on Function (Activity Tracking, Diet and Nutrition, Workout or Exercise), Based on Type(Altruistic Fitness Apps, Competitive Fitness Apps, Fitness-Tracking Apps, Social Fitness Apps, Workout Fitness Apps). It also covers Global Opportunity Analysis and Industry Forecast to 2025.
The Global Fitness App Market size 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 size 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 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.
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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 size. Some apps provide personalized services based on specifications and body physiology, while others are fitted with sensors to target the 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 size.
The rising incidence of obesity and the increasing number of related diseases are fueling the fitness app market size. 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 for the production of advanced fitness apps and successful acquisition & merger between businesses. However, the availability of low-cost alternative apps with similar features could impede market growth.
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FITNESS APP 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.
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FITNESS APP MARKET SEGMENTATION & COVERAGE:
This research report categorizes the Fitness App to forecast the revenues and analyze the trends in each of the following sub-markets:
Based on Function, the Fitness App Market studied across
- Activity Tracking,
- Diet and Nutrition,
- Workout or Exercise.
Based on Type, the Fitness App Market studied across
- Altruistic Fitness Apps,
- Competitive Fitness Apps,
- Fitness-Tracking Apps,
- Social Fitness Apps,
- Workout Fitness Apps.
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SIMILAR REPORTS :
The Fitness App users Statistics reveal that the Chinese fitness apps are majorly utilized by young individuals in Tier 1 and Tier 2 cities. Owing to their demanding daily jobs and erratic lifestyle, they are more vulnerable to a strong willingness to work out.
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● Online/Virtual Fitness Market
The global Online Fitness Market size was valued at USD 6,046 Million in 2019 and is projected to reach at USD 59,231 Million by 2027, growing at a CAGR of 33.1% from 2020 to 2027.
Major factors driving the growth of virtual fitness market size are the need for specialized fitness sessions to achieve physical fitness, growing demand for fitness based on AR or VR, and rising demand for healthy food.
The COVID-19 pandemic has disrupted people's lives and forced fitness centers such as gyms and other fitness clubs to remain closed, leading to the rapid adoption of virtual fitness solutions as individuals have begun workouts at their homes. This, in turn, is expected to drive the online fitness market size.
Thanks to the significant presence of multiple health and wellness organizations across this country, North America dominates the online/virtual fitness market. In North America, the emphasis on precision medicine and personalized treatment is growing rapidly. In addition, the increasing adoption of Augmented and Virtual Reality ( AR & VR) technology in this region for workouts further contributes to market development.
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