Fitness apps Market Trends
Fitness apps market size was valued at USD 22.2 billion in 2021. The Fitness apps market industry is projected to grow from USD 28.3716 billion in 2022 to USD 157.9791617 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 27.80% during the forecast period (2022 – 2030). Rising inclination towards healthy lifestyle and advancements in technologies like AI driven fitness apps are the key market drivers enhancing the Fitness apps market growth. Virtual exercise facilities have become more popular due to the COVID-19 epidemic, which caused widespread lockdowns and social isolation norms. The download and subscription rates for fitness apps have consequently grown.
Fitness apps Type Insights
The Fitness apps market segmentation based on type, includes Workout and Exercise Apps, Disease Management, Lifestyle Management, and Nutrition & diet. The Workout and Exercise Apps segment held the majority share in 2021, contributing to the market revenue. The increased popularity of workout and exercise applications among a sizable user base is promoting the segment’s expansion. Additionally, exercise and workout apps simplify the measuring and monitoring of daily caloric intake at the level of macronutrients like fats and carbohydrates and offer a personalized lifestyle plan based on user feed data. So, these apps have been in great demand throughout the past few years due to their usability and ease of use.
Fitness apps Key Market Players & Competitive Insights
Major market players are spending a lot of capitals on R&D to enhance their product lines, which will aid the Fitness apps market expand. Market players are also taking a range of strategic measures to expand their worldwide footprint, with prime market developments such as new product innovations & launches, contracts & agreements, mergers and acquisitions, better investments, and collaboration & strategic partnerships with other organizations in the market. Competitors in the Fitness apps industry must offer cost-effective items to extend and survive in an increasingly high competitive and expanding market environment.
To learn more about this, connect with us today!