Fitness App Market Latest Innovations, Drivers and Industry Key Events 2021– 2028: Grand View Research Inc.
Fitness App Market Growth & Trends
The global fitness app market size is expected to reach USD 15.5 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 21.6% from 2021 to 2028. Rising health and fitness awareness and the growing prevalence of obesity are major factors driving the global market. According to the Centers for Disease Control and Prevention, the prevalence of obesity increased from 30.5% in 1999-2000 to 42.4% in 2017-2018. Moreover, awareness regarding obesity-related health conditions, including diabetes, stroke, heart diseases, and cancer, is increasing. This, in turn, is fueling the adoption of fitness apps to manage weight and aid weight loss.
The lockdown and social distancing norms by governments to control the spread of the COVID-19 virus have negatively impacted the gyms and fitness centers globally. However, consumers have shifted their focus to online fitness classes and apps. The total number of downloads and active users increased rapidly during the COVID-19 lockdown. For instance, the daily active users on fitness apps increased by 24% in Asia Pacific, 11% in Europe, 8% in Americas, and 28% in the Middle East and North Africa between quarter 1 and quarter 2 of 2020. Moreover, many fitness apps are witnessing an increase in their downloads and profits. For instance, HealthifyMe, an Indian fitness app, witnessed a 30% increase in traffic and a 40% increase in revenue in April 2020.
Moreover, a rise in the number of product launches, investments, collaborations, partnerships, and mergers & acquisitions is boosting the adoption of fitness apps in the market. For instance, in March 2020, Curefit, a health and fitness company, received USD 110 million in funding from Temasek Holdings Limited. In November 2020, Hong Kong Baptist University (HKBU) and The Chinese University of Hong Kong (CUHK) collaborated to launch MusFit Action Mobile App, which is focused on home-based exercises for elderly and middle-aged people. In December 2020, National Football League player DeMarcus Ware introduced his fitness app Driven to Win on Apple Store. The subscribers can work out with NBL players through this app. This app will be available for Android from 2021.
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Fitness App Market Report Highlights
- The exercise and weight loss segment emerged as the leading type segment in 2020 with a revenue share of 54.7%
- By platform, iOS accounted for the largest revenue share in 2020. The Android segment is projected to expand at the fastest CAGR during the forecast period
- Based on the device, smartphones accounted for the largest revenue share in 2020. Wearable devices are projected to expand at the fastest CAGR during the forecast period
- North America accounted for the largest share in 2020 due to the increasing awareness regarding health and wellness, high penetration of smartphones, and availability of a large number of fitness apps
Fitness App Market Segmentation
Grand View Research has segmented the global fitness app market on the basis of type, platform, device, and region:
Fitness App Type Outlook (Revenue, USD Million, 2016 - 2028)
- Exercise & Weight Loss
- Diet & Nutrition
- Activity Tracking
Fitness App Platform Outlook (Revenue, USD Million, 2016 - 2028)
Fitness App Device Outlook (Revenue, USD Million, 2016 - 2028)
- Wearable Devices
Fitness App Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- South Africa
List of Key Players of Fitness App Market
- Fitbit, Inc.
- Azumio, Inc.
- MyFitnessPal Inc.
- Under Armour, Inc.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.