Fitness App Market Revenue USD 298.30 Billion by 2026 with a 31.25% CAGR | Global Fitness Apps Market to Benefit from COVID-19 Pandemic – Yahoo…

Posted: February 9, 2021 at 6:53 pm

Global Fitness App market leaders are Google LLC (US), Samsung Electronics Co., Ltd (South Korea), Lenovo Group Limited (China), TomTom International BV (The Netherlands), Nike, Inc. (US), Adidas AG (Germany), Asics Corporation (Japan), Under Armour, Inc. (US), Wahoo Fitness (US), Azumio Inc. (US), and Grand Apps (US).

Pune, Feb. 08, 2021 (GLOBE NEWSWIRE) -- Market AnalysisGlobal Fitness App Market Size is estimated to register a valuation of USD 298.30 Billion by 2026 with a 31.25% CAGR during the forecast period (20202026). The market is powered by increased use of mobile apps, increased use of sports and fitness applications for tracking activities and heart rate, and increased demand for wearable exercise equipment. Smartphones have become an essential part of human social security and physiological well-being. A mobile application is a software application designed to run on mobile devices like smartphones, wearable devices, and tablets. Such applications have arisen as a result of the convergence of media, the Internet, and advanced technologies. In last few years, people have changed the way they handle important aspects of their lives, including wellness, by using different health and fitness apps on their mobile devices.

Mobile health apps are referred to as mHealth apps that run on Android, Windows, and iPhone operating systems (iOS). There are dozens of health and fitness apps available for download on Google Play, some of which are RockMyRun, MyFitnessPal, Kidfit, and FitWell. These days, due to busy schedules, changing health and wellness measures, and ease of use, fitness apps can be downloaded and used for a few dollars or free of charge. Such apps provide health benefits as they allow users to remain fit by maintaining their weight and guiding them through workouts on the basis of comfort and convenience. They also help users benefit from a variety of dietary plans to suit their body types. As a result, the rise in the use of mobile apps has resulted in an increase in the use of various fitness applications to maintain a healthier lifestyle. The digitization of the healthcare sector in developed countries creates growth opportunities for the global fitness app market during the forecast period.

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COVID-19 Impact on the Global Fitness App MarketA fitness application or app is a software solution used for its numerous health-oriented functionalities that allow individuals to set long-term fitness goals, track calorie intake, gather workout ideas, and evaluate their current health status. Fitness apps are designed to work exclusively on smartphones since they are the most commonly used handheld devices today. The number of patients infected with coronavirus is increasing rapidly across the globe, which, in turn, has prompted the government authorities to impose the lockdown to prevent further spread. This has culminated in the bulk of the human population remaining at home to protect themselves from the disease. In addition, the pandemic has resulted in serious losses to the companies that are part of verticals such as airlines, oil & gas, automobiles, tourism, food & beverage, and so on. However, this is also applicable to the fitness app industry. Fitness application companies have sought to innovate their apps by engaging consumers with training and fitness awareness programs. In the United States, the average time spent by a person on a fitness app has risen from approximately 15 hours a week in 2019 to 25 hours a week during this lockdown. The Aarogya Setu app introduced by the Government of India in April 2020 has registered some 98 million downloads. Approximately 1.4 lakh users have been alerted to possible risks of infection. Application development companies are introducing fitness applications that support users with their exercise routine without the use of gym equipment. In addition, both fitness and healthcare apps are now being offered to developers. For example, the 'Strava' fitness app offers guidance on improving heart rate-focused exercise sessions and cross-training, among other features, based on user experience with workouts. In addition, another fitness appRuntasticoffers users a 3-month free trial.

Several such initiatives and focused digital marketing strategies are expected to provide lucrative opportunities for the fitness app industry, taking into account current market conditions.

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Market SegmentationThe global fitness apps market is segmented into type, platform, and device type.

By type, the global fitness app market is segmented into workout and exercise apps, lifestyle management (sleep tracker and period & ovulation tracking), disease management, nutrition & diet, medication adherence, and others (meditation and brain training apps).

By platform, the global fitness app market is segmented into Android, iOS, and Windows.

By device type, the global fitness app market is smartphones, tablets, and wearable devices.

Regional AnalysisBy region, the global fitness app market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.

North America to lead the global market North America had the largest market share in 2019, with a market valuation of USD 16.82 billion; the regional market is projected to record a CAGR of 28.35% over the forecast period. The growth of the fitness app industry in the region can be attributed to the increasing demand for wearable devices, like smart bands, smartwatches, and smart rings, increased awareness of health conciseness, and increased penetration of smartphones.

COVID-19 Outbreak Impact on Fitness App Markethttps://www.marketresearchfuture.com/report/covid-19-impact-fitness-app-market

APAC to Register the Highest CAGR of 33.46%Asia Pacific is predicted to have the highest CAGR of 33.46% in the forecast period. Rising consumer demand for a healthier lifestyle and an ever-increasing interest in a nutritious diet, and demand for better healthcare across countries in the region are projected to make AsiaPacific the fastest-growing region in the market. In addition, increased personal per capita disposable income is also propelling the development of the fitness app market in AsiaPacific.

Competitive LandscapeWith the involvement of a large number of international and regional players, the global fitness app market is highly fragmented and competitive. Market players are actively engaged in technological innovation, global expansion, and mergers and acquisitions in order to maintain their footprint in the international market.

Notable Players in The Global Fitness App Market Are:

Google LLC (US),

Samsung Electronics Co., Ltd (South Korea),

Lenovo Group Limited (China),

TomTom International BV (The Netherlands),

Nike, Inc. (US), Adidas AG (Germany),

Asics Corporation (Japan),

Under Armour, Inc. (US),

Wahoo Fitness (US),

Azumio Inc. (US), and

Grand Apps (US).

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Industry NewsIn May 2019, Lenovo unveiled Lenovo EGO, the first budget smartwatch in India. The Smartwatch provides real-time monitoring of heart rate and sleep monitoring. For fitness, it helps to keep track of steps, distance traveled, calories burned, and other exercises, like cycling, running, and swimming.

In February 2019, Samsung Electronics released three new wearables, including Galaxy Watch Active, Galaxy Fit, and Galaxy Buds, to provide its users with a balanced and connected lifestyle. Galaxy Watch Active includes features like blood pressure monitoring and fitness monitoring, among others, to enhance the fitness and well-being of its users.

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Fitness App Market Revenue USD 298.30 Billion by 2026 with a 31.25% CAGR | Global Fitness Apps Market to Benefit from COVID-19 Pandemic - Yahoo...

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