WASHINGTON, Oct. 26, 2022 (GLOBE NEWSWIRE) — Fitness App market was valued at USD 5.1 Billion in 2021 and is further estimated to reach USD 15.2 Billion by 2028, and is expected to grow at a CAGR of 17.6% during the forecast period of 2022 to 2028.
Recent study report released by Vantage Market research titled Fitness App Market (covering USA, Europe, China, Japan, India, South East Asia and etc) highlights opportunities, risk analysis, and leveraged with strategic and tactical decision-making support. When every business is competing to be the best, a market research analysis report is one of the key factors that will help them climb the ladder of success. The Fitness App market report gives details about market trends, future prospects, market restraints, leading market drivers, several market segments, key developments, key players in the market, and competitor strategies. Market research analysis is one of the best ways that answers business challenges more quickly and also saves a lot of time. The research work, market insights and analysis are carried out thoroughly in this Fitness App report that brings the marketplace clearly into the centre of attention.
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What is Fitness App? How Big is Fitness App Market Size?
Increasing Attention on Maintaining a Healthy Lifestyle
The outbreak of COVID-19 pandemic forced many consumers to transform themself to adopt healthy lifestyle. With this regards, various consumers are started using multiple fitness applications to track their physical record/condition. This will help consumer to make decisions & make changes in their daily activities as well as diet plans. In addition, due to the outbreak of pandemic & enforcement of strict regulations such as complete lockdown, many people started focusing on online apps instead of going for workout in gyms. Therefore, it creates huge demand for Fitness App Market and further, propels the growth of market.
Increasing Use of Smartphones, Tablets and Wearable Devices
Now a days, fitness trend is growing rapidly in various developing and under-developing countries. This is mainly occurred due to the huge development from smart and IoT devices such as, wearable devices, tablets and smartphones. Also, various fitness app operated via smartphones that would help people to monitor their physical record. Thus, increasing usage of wearable devices, smartphones and tablets are expected to augment the growth of Fitness App Market in coming years. In addition, these devices helped people to do workouts without going for gym and they can do their workouts at any time. This is also considered for fuelling the growth of Fitness App Market during projected time period.
List of Prominent Players in the Fitness App Market:
- Run Keeper
- Google LLC
- Runtastic (Adidas)
- JEFIT Workout Tracker
- Nike Run Club
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The Report on Fitness App Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Key Insights and Findings from the In-depth Report:
- Under the application segment, synthetic exercise & weight loss sub-segment is anticipated to dominate the segment for Fitness App Market and growing at a substantial Compound Annual Growth Rate (CAGR). The growth is attributed to rising instances of obesity across the globe leading to increase disease prevalence such as diabetes, cancer, and cardiovascular diseases among others.
- iOS sub-segment held a market significant share in 2021 of Platform segment for Fitness App Market. Rising adoption of iOS among consumers is propelling the market growth.
- North America is the largest regional segment. The market growth in the region is attributed to, high adoption rate of fitness apps, as well as presence of major players in region.
Asia Pacific Accounted Fastest Market Growth
Asia Pacific accounted fastest growth of Fitness App Market during the projected period. This surge is mainly attributed to the availability of more than 50% of the world’s population in this region. Various Asian countries such as, Japan, China and India, are majorly investing in the development of smart applications to provide quality product to consumers, which in turn, increases the Fitness App Market demand in this region. In addition, high usage of wearable devices, smartphones and tablets in this region is augmenting the growth of Fitness App Market during the projected time period.
Some of The Key Questions from Our Customers Are:
- Which are the top companies in the market?
- How will the market change in the next years?
- What are the drivers and restraints of the market?
- Which regional market will show the highest growth?
- What will be the CAGR and size of the market throughout the forecast period?
- Which area offers the most significant benefit for the world market?
- What are the threats to business and the impact of the current scenario on growth and market perception?
- What are the likely advanced scenarios and maximum incentive to see movement by application, type, and region?
Browse market data Tables and Figures spread through 150 Pages and in-depth TOC on Fitness App Market Forecast Report (2022-2028).
March, 2021: Fitbit Inc announced Fitbit Ace 3™, Next Generation Activity and Sleep Tracker for Kids that encourages a healthy lifestyle by making fitness fun.
April, 2021: Fitbit Inc. announced Luxe, a Fashion-Forward Fitness and Wellness Tracker Designed to Support Your Holistic Health.
Scope of the Report:
|Market Size in 2021||USD 5.1 Billion|
|Revenue Forecast by 2028||USD 15.2 Billion|
|CAGR||17.6% from 2022 to 2028|
|Forecast Year||2022 to 2028|
|Key Players||• RunKeeper
• Google LLC
• Runtastic (Adidas)
• JEFIT Workout Tracker
• Nike Run Club
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