Global Fitness app Market Report

Market Insights

The Fitness app market was estimated to grow from USD 1.2 billion in 2021 to USD 3.71 billion by 2028 at a CAGR of over 17.52% during the forecast period.

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What is Fitness app?

The fitness app industry consists of small, specialized programmes designed to keep users motivated while running, walking, cycling, or participating in any other physical activity. Furthermore, most fitness apps are used to count calories, while others keep statistical records on workouts or collect data on walks, runs, and bike rides.

Key Players

The key players operating in the market are-

• Adidas
• Appster
• FitnessKeeper
• Fitbit, Inc.
• Azumio, Inc.
• MyFitnessPal Inc.
• Noom
• Nike
• Under Armour, Inc.
• WillowTree, Inc.

Market Drivers

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• The growing emphasis on maintaining a healthy lifestyle, as well as the increased use of smartphones, tablets, and wearable devices, has a positive impact on the size of the market.
• Furthermore, rising awareness of diet-related diseases propels the market share to new heights around the world.
• However, factors such as technical issues in apps and the high cost of in-app purchases, as well as concerns about data security and stringent regulations, are limiting the growth of the market.

Segment Analysis

By Type

The market has been classified into Exercise & Weight Loss, Diet & Nutrition, and Activity Tracking. Under these, the exercise & weight loss segment held a significant market share of more than 49.5% in 2021.

Platform Trends

The market has been classified into Android, iOS, and others. Under these, the iOS segment held a significant market share of more than 49.9% in 2021.

Device Trends

The market has been classified into Smartphones, Tablets, and Wearable Devices. Under these, the Smartphone segment held a significant market share of more than 65.1% in 2021. An increase in smartphone penetration globally is a key factor driving the segment's growth.

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Regional Trends

The North American market held the highest market share of more than 34.5% in 2021 and is projected to grow at a fastest CAGR in the coming years. The presence of major R&D investors such as IBM Corporation, Amazon.com, and Oracle Corporation expands the regional market size.

• Furthermore, the availability of established IT infrastructure and high investments are expected to drive market growth in North America.
• For example, the United States' Defense Advanced Research Projects Agency (DARPA) invested USD 2 billion to develop AI technologies such as machine learning (ML), among others.

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COVID-19 Impact

The COVID-19 outbreak has had a significant impact on the growth of the fitness app market, owing primarily to the implementation of lockdown by governments in the majority of countries, as well as the implementation of work-from-home and online education around the world. Furthermore, in order to remain competitive, businesses have shifted toward digitalization in order to provide online services, allowing customers to compare prices with other competitors, select the best options, and carry out fitness planning processes online.

Critical Questions Answered in the Report

• What are the key trends in the market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
• What is the impact of COVID-19 on the market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Target Audience

The target audience the Market includes-

• Fitness app companies
• Fitness app distributors

Report Features

This report provides intelligence in the most comprehensive way & the structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision-making for the existing players as well as those willing to enter the market.

The following are the key features of the report:

• Overview, industry life cycle analysis, supply chain analysis
• Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Trend and forecast analysis
• Segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, Technology launches, etc.
• Attractive segments and associated growth opportunities
• Emerging trends
• Strategic opportunities for the existing and new players
• Key success factor

Research Methodology

• This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

• More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

• We conducted more than 10 detailed primary interviews with the companies across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Customization Option

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Technology portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.