Fitness App Market Is Likely To Reach a Valuation of Around USD 120.37 Billion | Aaptiv Inc, Addias, Applico Inc., Azumio, Inc.

Fitness apps are now utilizing artificial intelligence, machine learning, and other technologies to provide personalized fitness programs to their customers. They also offer no equipment workout routines, personalized diet charts, monitor diet, track footsteps, and also provide personalized health coaches, which in turn fuels the growth of the market. Activity tracking segment is expected to experience significant growth in the coming years, as it plays a critical role in tracking the personal health and dietary habits of the user and also helps the user to lose weight by tracking their activity.

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Rise in emphasis on maintaining a healthy lifestyle, surge in awareness about diet-related diseases, and increase in use of smartphones, wearables, and tablets drive the global fitness apps market. However, technical issues in apps, the high cost of in-app purchases, and concerns regarding data security and strict regulation of data privacy hinder the market growth. On the contrary, technological advancements in AI and machine learning and increase disease prevalence of hypertension, cardiac problems, and obesity are expected to unlock new opportunities for the market players in the future.

As per the report, the global fitness apps industry was accounted for $13.78 billion in 2020, and is expected to reach $120.37 billion by 2030, growing at a CAGR of 24.3% from 2021 to 2030.

In the context of the Covid-19 situation:

• The Covid-19 pandemic led to a surge in the popularity of fitness apps, primarily driven by widespread lockdown measures enforced by governments in many countries and the growing acceptance of digital solutions by fitness centers and studios.

• The transition to remote work contributed to a heightened demand for fitness apps, as people sought ways to enhance their overall health and boost their immune systems as a preventive measure against Covid-19.

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The fitness app market in 2020 was primarily dominated by the smartphone segment, driven by the increasing number of smartphone users worldwide. People turned to fitness apps on their smartphones as a cost-effective alternative to pricey gyms and fitness centers. However, there is an anticipated significant growth in the wearable devices segment in the coming years. This growth is attributed to the rising demand for connectivity features and the potential for real-time communication between users and fitness instructors. Wearable devices, like fitness watches, also enhance exercise efficiency by offering additional capabilities such as music integration.

Regarding the choice of operating systems, the Android segment is expected to experience the highest Compound Annual Growth Rate (CAGR) of 26.1% from 2021 to 2030. This growth is fueled by the rapid adoption of Android devices among the younger generation in developing nations. On the other hand, in 2020, the iOS segment held the largest market share, contributing to over half of the global fitness app industry. This is primarily due to iOS offering superior premium class plans.

Major market players:

• Aaptiv Inc.
• Addias
• Applico Inc.
• Fitbit LLC.
• Azumio, Inc.
• MyfitnessPal, Inc.
• FitnessKeeper
• Noom Inc.
• Nike, Inc.
• Under Armour, Inc.

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Region wise, the fitness app market size was dominated by North America in 2020 and is expected to witness the highest growth rate during the forecast period, owing to growing popularity of fitness apps among the younger population. In addition, growing demand for rising health & fitness awareness and online fitness training is providing a lucrative opportunity for the market. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to rising application of data analytics in fitness such as evaluating and developing fitness or yoga programs, detecting anomalies in scans and predicting outbreaks are expected to boost the fitness app market.

Major Contributing Factors of Fitness App Market:

Health and Wellness Trends:

The growing awareness of health and wellness, particularly during the COVID-19 pandemic, has led to an increased interest in fitness apps. People are more focused on maintaining their physical and mental health, which has driven the demand for fitness apps.

Smartphone Penetration:

The widespread availability of smartphones and mobile devices has made it easier for people to access and use fitness apps. This has expanded the potential user base for fitness apps.

Wearable Technology:

The integration of fitness apps with wearable devices like smartwatches and fitness trackers has become increasingly popular. These devices can track various health metrics and sync with fitness apps, enhancing the overall user experience.

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