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Membership Management Software Market Size, Latest Trends, Growth Status, Top Major Players And Forecast To 2033
Membership Management Software Market Size
According to The Business Research Company's, The membership management software market size has grown rapidly in recent years. It will grow from $6.82 billion in 2023 to $7.63 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to a rise in demand for gym software, increased demand for streamlined gym management, digitization of gym operations, increased health consciousness, optimization of fitness center operations, and a growing number of mobile subscribers.
The membership management software market size is expected to see rapid growth in the next few years. It will grow to $12.04 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The growth in the forecast period can be attributed to high penetration of the internet, rising demand for software platforms, growth in the number of fitness centers and health clubs, growing awareness related to membership management software, growing demand from non-profit organizations. Major trends in the forecast period include high penetration of the internet, rising demand for software platforms, growth in the number of fitness centers and health clubs, growing awareness related to membership management software, and growing demand from non-profit organizations.
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Market Drivers and Trends:
The growing fitness centers and health clubs are expected to propel the growth of the membership management software market going forward. Fitness centers and health clubs offer various services and amenities related to physical fitness and overall wellness. The combination of shifting attitudes towards health, urban lifestyles, social dynamics, and corporate initiatives contributes to the ongoing growth and expansion of fitness centers and health clubs. Membership management software enables fitness centers to expedite the registration of new members by providing online registration portals or self-service kiosks, simplifying the sign-up process, inputting personal details, and completing paperwork to lessen administrative tasks and decrease wait times. For instance, in September 2023, according to a report published by the International Health, Racquet, and Sportsclub Association (IHRSA), a US-based health and fitness association, approximately 80% of health and fitness industry leaders anticipate that membership and revenue will increase by over 5% in 2023 compared to 2022. Therefore, the growing fitness centers and health clubs are driving the growth of the membership management software market.
Major companies operating in the membership management software market are centralizing personalization and member engagement through collaboration tools such as multi-program management systems, to enhance member experiences and improve overall satisfaction and retention rates. A multi-program management system facilitates the management of multiple membership initiatives, such as programs, subscription plans, tiered memberships, and promotional campaigns, all within a single integrated platform. For instance, in April 2022, TeamSnap, a US-based provider of membership management software, launched an all-in-one multi-program management system for youth sports organizations. The unique feature of the multi-program management system is that it enables clubs and leagues to seamlessly register players and utilize advanced scheduling and team management tools. This enhanced platform encompasses functionalities for member management, registration, payments, and integration with mobile apps and websites. It simplifies the initiation of new seasons or club offerings without the need to start from scratch while also facilitating the management of multiple players from the same family. Furthermore, the system offers customization options tailored to the organization's requirements, including support for various bank accounts.
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Major Key Players of the Market:
Stripe Inc., Active Network LLC, Mailchimp, Zapier Inc., Daxko LLC, ACS Technologies, GrowthZone Inc., YourMembership.com Inc., EventBank Corp, Wild Apricot Inc., Zen Planner LLC, MemberClicks Inc., Member Planet LLC, Perfect Gym Solutions Pty Ltd., NationBuilder, Wodify Technologies LLC, Star Chapter LLC, Regpack Inc., Softwood Technology Inc., VeryConnect Ltd., DonorView, Reservio, WordPress, Club Express, Member365
Membership Management Software Market 2024 Key Insights:
• The membership management software market size is expected to see rapid growth in the next few years. It will grow to $12.04 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%.
• Fitness Center And Health Club Expansion Fueling Membership Management Software Market Growth
• Innovative Developments In Membership Management Software Market
• North America was the largest region in the membership management software market in 2023
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