Sports and Fitness Apps Market Size, Share, Growth Analysis Forecast to 2027 | Azumio Inc., Fitbit Inc., Freeletics, Garmin Ltd., Jefit Inc., Nike Inc., Polar Electro, Runtastic GmbH
New Research Study "Sports and Fitness Apps Market 2021 analysis by Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges and Investment Opportunities), Size, Share and Outlook" has been added to Coherent Market insight
The global Sports and Fitness Apps is estimated to account for US$ 17,436.4 Million by 2027
The increased adoption of wearable devices among individuals, such as fitness trackers, smartwatches, and other devices that aid in activity tracking and monitoring, is a major factor driving growth in the global sports and fitness apps market. Furthermore, rising smartphone and internet penetration are driving growth in the global sports and fitness apps market. Furthermore, the rising prevalence of health disorders such as diabetes, heart disease, obesity, and depression has increased population health awareness about health and fitness, which is driving growth in the global sports and fitness apps market. However, a lack of proper app integration with wearable devices may have a negative impact on the global sports and fitness apps market's growth.
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This report includes information on the industry's market growth as well as key segmentation variables that help the global Sports and Fitness Apps Market prosper in today's environment. The report also emphasises the importance of regional classification in the global Sports and Fitness Apps Market. Due to growing demand, the worldwide Sports and Fitness Apps Market will eventually create more revenue and have a higher market size than the previous projected period.
Major Key players in this Market:
· ASICS Digital (The ASICS Run keeper) Inc.
· Azumio Inc.
· Fitbit Inc.
· Garmin Ltd.
· Jefit Inc.
· Nike Inc.
· Polar Electro
· Runtastic GmbH
· Under Armour Inc.
· Wahoo Fitness
Drivers & Trends
The market forecasts in the Sports and Fitness Apps industry are based on established research and assumptions based on current drivers and trends. As a result, the research report serves as a repository of analysis and data for every aspect of the market, including applications, SWOT analysis, future potential, new developments, and more. To acquire a firm grasp on the total market, several possible growth factors and hazards are assessed.
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The Sports and Fitness Apps market is divided into five areas, each with its own development possibilities and current trends: Latin America, North America, Asia Pacific (APAC), Europe, and the Middle East and Africa. The report was created through extensive research and analysis, as well as examination of numerous elements that may influence regional growth, such as each region's economic, political, environmental, technical, and social condition. It also includes a complete analysis of each region's recognised manufacturers, production, and revenue, as well as the top influencing elements, critical data, and data segmented both regionally and globally.
Method of Research
The purpose of this section's research is to examine the Sports and Fitness Apps market over the course of the review period using several validated metrics based on Porter's Five Force Model. As a result, a thorough examination of the market aids in identifying and emphasising the market's primary strengths and weaknesses as it progresses. Furthermore, the study was created using a combination of primary and secondary research, including interviews, surveys, and observations from seasoned analysts, as well as reliable paid sources, trade magazines, and industry body databases. Beyond important points in the industry's value chain, the study includes a complete qualitative and quantitative assessment based on data gathered from industry analysts and market players.
Key Takeaways of the Market:
· According to ’ research, North America lead the global sports and fitness apps market, owing to presence of number of fitness apps developers and rise in health awareness among population in the region. Furthermore, most of the health conscious individuals use wearable devices to monitor their health. Hence, increasing adoption of wearable devices such as smart watches for fitness tracking is propelling growth of the global sports and fitness apps market in North America. Companies such as Fitbit Inc., Apple Inc. and Garmin Ltd. offer sports and fitness apps for mobiles and wearable devices. For instance, Fitbit Inc. offers wearables such as watches, trackers, and other products with sports and fitness apps.
· According to ’ research, Asia Pacific is expected to account as a major contributor in global sports and fitness apps market over the forecast period, owing to increase in smartphone penetration among individuals in emerging economies in the region. Moreover, increasing use of internet and wearable devices in countries such as India and China is driving growth of the global sports and fitness apps market in Asia Pacific region. India and China are countries with a significant number of young-adult population, which has led to an increase in demand for wearable devices, and sports and fitness apps in the region. For instance, according to Youth in India (2017), Central Statistics Office Ministry of Statistics and Program Implementation Government of India (Social Statistics Division), by 2020, individuals between the ages 15-34 years are supposed to comprise 34.46% of the total population in India.
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