New York, October 19, 2021 – Reports and Data published its latest report titled “Fitness Apps Market By type (lifestyle management, training and exercise apps), by platform (smartphones, tablets and portable devices) and by app (Android, Windows, iOS, others), forecast to 2028 “
Technological advancements, increasing government digitization initiatives, and growing public awareness of health and fitness are some of the key factors driving the growth of the market
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According to Reports and Data, the global fitness applications market size is expected to reach USD 18.08 billion in 2028, from USD 3.61 billion in 2020 and is expected to register a CAGR of 23.5% during the forecast period 2021 -2028.
Drivers, constraints and opportunities
Fitness apps are created to help with exercise, other forms of physical training, nutrition and diet, and other fitness related topics. These apps also offer a variety of healthy and balanced eating plans to help you meet user’s fitness goals. Fitness apps have proven to be beneficial for the general public as they successfully track fitness goals and include workout schedules and step tracking tools in their busy schedules. Hence, a growing awareness of the benefits of fitness app is expected to positively impact the revenue growth of the market.
Ongoing R&D activities and technological advancements in AI and government initiatives on digitization in developing countries in the healthcare sector are some of the factors contributing to the market revenue growth. The increasing prevalence of diseases such as hypertension, obesity and heart problems is expected to drive demand for wearable medical devices. For example, in the case of diabetic patients, daily blood sugar monitoring and follow-ups should lead to an increase in the use of fitness apps. The market is driven by strong growth, changing lifestyles and increasing health concerns. Other contributing factors include increased disposable income, widespread use of cell phones, and the availability of high speed Internet access. However, concerns over data security and strict regulations are factors that are expected to restrain the market during the forecast period.
COVID-19 impact assessment
- Social distancing and restrictions have severely disrupted businesses and operations
- The closures have caused disruption in transportation and logistics
- Global Manufacturing and Mining Operations Affected
- Took a toll on the economy of various countries
- Caused a sudden and drastic slowdown in economic activity
- Agriculture, fishing, dairy and other disrupted sectors
- Caused job loss and financial crisis
- The impacts on supply have worsened further due to the drop in disposable income
- The emergence of variants continues to cause concern and impact normal routines
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Android segment to dominate other application segments:
Android segment is expected to dominate other app segments during the forecast period. Apple sold 217.72 million iOS handsets in 2018, compared to 1.3 billion Android smartphones sold in 2017. The total number of downloads from the Google Play Store and the Apple App Store in 2018 was 28.4 billion, Google Play alone representing 20 billion. There are roughly 12,000 different Android smartphones in people’s hands, with a wide variety of screen processors, sizes and versions of Android software still in use.
North America will represent a significant share of revenues:
North America is expected to account for a significantly significant share of revenue over the forecast period due to ongoing technology investments in artificial intelligence (AI), machine learning (ML), cloud computing, Internet of Things (IoT), etc. In addition, the growing health and fitness awareness and the increase in cases of people suffering from anxiety and stress are some of the factors which are boosting the market growth in countries in the region.
Asia-Pacific leads in terms of revenue CAGR:
Asia-Pacific market revenue is expected to increase at a robust revenue CAGR during the forecast period attributed to the increasing penetration of smartphones, government initiatives on the development of healthcare services and the growing number patients with obesity, diabetes and other chronic diseases. In addition, technological advancements and increasing government investments in digitization in emerging economies such as China and India are driving the revenue growth of the APAC market.
The main companies in the market include:
- Asics America Corporation
- Fitbit, Inc.
- Azumio, Inc.
- Kayla itsines
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Market segmentation :
For the purpose of this report, Reports and Data has segmented the global fitness application market by type, platform, application, and region:
Type Outlook (Revenue USD Billion; 2018-2028)
- Lifestyle management
- Training and exercise apps
- Nutrition and diet
- Disease management
- Adherence to medication
Platform Outlook (Revenue Billion USD; 2018-2028)
- Smart phones
- Portable devices
Application Outlook (Revenue in Billions of Dollars; 2018-2028)
- the Windows
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- The rest of europe
- Asia Pacific
- South Korea
- Rest of the APAC
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of the MEA
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Some points on how the report benefits stakeholders:
- Reports include historical (2018-2020) and forecast (2021-2028) data points, revenue and CAGR in tabular, figure and graph form, with detailed and qualitative written information supporting each. .
- The revenue breakdown is provided for each segment in these formats for the world, region and for each country in the respective region for each year between 2018 and 2028.
- The report contains information on growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, suppliers / distributors, and other players and the global market.
- Market research analysis is vital for all crucial business strategies and can help in many ways and provide a better understanding of the strategies deployed by competitors, product launches, competitive analysis, technological advancements and various other factors. that improve a company’s sales or can provide ideas for focusing on merger and acquisition as a strategy or entering into strategic agreements or joint ventures, etc.
- The report contains the profiles of the major companies operating in the market along with their respective revenue and operating segments, geographic scope, market footprint, corporate headquarters, growth rate, recent developments, product / service. , their expansion strategies, their investments in expansion, etc.
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