Fitness App Market Growth Is Expected To Rise As Of Increasing Penetration Of Smartphones Worldwide5/22/2022 Fitness App Industry Overview
The global fitness app market size was valued at USD 1.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 17.6% from 2022 to 2030. The spreading COVID-19 pandemic led to nationwide lockdowns followed by social distancing norms, thereby aiding the transition from traditional studios and gyms to virtual fitness. It, in turn, has led to increased downloads and subscriptions of fitness apps. As per a report published by the American College of Sports Medicine (ACSM), it has been stated that fitness apps were ranked at number 13 in accordance with the 2019 fitness trends. Gather more insights about the market drivers, restrains and growth of the Global Fitness App Market Tough competition has been witnessed between brick-and-mortar gyms against in-app fitness. Information technology has transformed the way the fitness industry works. According to an article published by World Economic Forum in September 2020, it is stated that downloads of fitness and health apps increased globally by 46.0% due to the growing trend of online fitness training, which is driving the market globally. The growing awareness regarding fitness and mental well-being is also driving the market. In addition, the COVID-19 pandemic has led to an increase in awareness concerning health and hygiene. As per a World Economic Forum article published in September 2020, the Daily Active Users (DAUs) of fitness apps have increased by 24.0% in quarter 2 over quarter 1 in 2020. Moreover, the expanding network of fitness studios and gyms through online platforms is further aiding the adoption of these apps. Owing to this, several consumers are significantly investing in in-home fitness equipment, thus boosting revenue growth. For instance, revenue generated by Peloton, a U.S.-based exercise equipment company, has been estimated to double in 2020. Browse through Grand View Research's Healthcare IT Industry Research Reports.
Fitness App Market Segmentation Grand View Research, Inc. has segmented the global fitness app market report on the basis of type, platform, device, and region:
Market Share Insights
Key Companies profiled: Some prominent players in the global fitness app market include:
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Jyoti WaghmareWorking at market research and consulting company as a "Team Lead of Web Marketing Team". It offers syndicated research studies, customized reports, and consulting services. Market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. |