Fitness App Market High-End Demand Across Major Geographies During 2020 to 2030
The global fitness app market is expected to witness significant growth during the forecast period.
PORTLAND, PORTLAND, OR, UNITED STATE, September 28, 2022 /EINPresswire.com/ — According to a recent report published by Allied Market Research, the global fitness app market size was valued at $13.78 billion in 2020, and is projected to reach $120.37 billion by 2030, growing at a CAGR of 24.3% from 2021 to 2030.
Fitness apps are now utilizing artificial intelligence, machine learning, and other technologies to provide personalized fitness programs to their customers. They also offer no equipment workout routines, personalized diet charts, monitor diet, track footsteps, and also provide personalized health coaches, which in turn fuels the growth of the market.
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The key factor that drives the market includes increasing emphasis on maintaining a healthy lifestyle and increasing use of smartphones, tablets and wearable devices positively impacts the growth of the market. In addition, increasing awareness about diet-related diseases boosts the growth of the market across the globe.
However, factors such as technical issues in apps and the high cost of in-app purchases and concerns regarding data security and stringent regulations are limiting the fitness app market growth. On the contrary, technological advancements in AI and machine learning and the rising disease prevalence of hypertension, obesity, and cardiac problems are expected to offer remunerative opportunities for the expansion of the fitness app market during the forecast period.
Based on device type, the smartphone segment dominated the fitness app market share in 2020, owing to the increase in penetration of smartphone users globally. In addition, fitness app is being used via smartphones as it is a cheap alternative to expensive gyms and fitness centers.
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However, the wearable devices segment is expected to witness significant growth during the forecast period, owing to an increase in demand for connective capabilities and the possibility of real-time communication between the end user and fitness instructors. In addition, it is enabling fitness watches to substantially increase exercise efficiency with added capabilities such as music.
Region-wise, the fitness app market size was dominated by North America in 2020 and is expected to witness the highest growth rate during the forecast period, owing to the growing popularity of fitness apps among the younger population. In addition, the growing demand for rising health & fitness awareness and online fitness training is providing a lucrative opportunity for the market.
However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to the rising application of data analytics in fitness such as evaluating and developing fitness or yoga programs, detecting anomalies in scans, and predicting outbreaks are expected to boost the fitness app market.
The key players profiled in the fitness app market analysis are Aaptiv Inc, Addias, Azumio, Inc., Fitbit LLC., FitnessKeeper, MyfitnessPal, Inc., Nike, Inc., Noom Inc., an Under Armour, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the fitness app industry.
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