LONDON–(BUSINESS WIRE)–The global fitness app market is expected to post a CAGR of almost 12% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
The market is witnessing an increase in the demand for wearable devices such as smartwatches, smart bands, and smart rings that have various features such as calling, messaging, and fitness tracking. These devices can be integrated with fitness apps to provide information on heartrate, exercise cognition, and issue movement reminders. To capitalize on the growing popularity of wearable devices, vendors are expanding their product portfolios by launching products equipped with advanced features such as LTE, music storage, built-in GPS, etc. Some vendors are also offering low-cost wearable products that are specifically designed for children. These factors are increasing the adoption of wearable devices, which is turn will positively influence the fitness app market.
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As per Technavio, the proliferation of fitness apps will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Global Fitness App Market: Proliferation of a variety of Fitness Apps
Vendors in the market are introducing various fitness apps for different purposes, workout routines, and exercises. For instance, some vendors are introducing fitness apps specifically for pregnant women, different age groups and gender. These apps enable customers to monitor their health and fitness by analyzing their calorie intake and provide guidance about proper nutrition to help them stay healthy and fit. The launch of such new and advanced fitness apps is enabling vendors to increase their market share and profitability. Therefore, the proliferation of different types of fitness apps is expected to boost the growth of the market during the forecast period.
“Increasing number of M&As and rising investments in fitness startups will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Fitness App Market: Segmentation Analysis
This market report segments the global fitness app market by geography (APAC, Europe, MEA, North America, and South America), gender (female and male), and application (lifestyle monitoring, health monitoring, and others).
The APAC region led the market in 2019, followed by North America, Europe, MEA, and South America respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to several factors such as improving standard of living, growing number of fitness enthusiasts, and increasing youth population in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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