NEW YORK, Jan. 21, 2022 /PRNewswire/ -- The fitness app market report by Technavio infers that the increasing use of mobile apps is driving this market's growth, resulting in the market growth of USD 3.50 billion from 2020 to 2025.
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The fitness app market covers the following areas:
Fitness App Market Sizing
Fitness App Market Forecast
Fitness App Market Analysis
Vendor Landscape
The fitness app market is fragmented. Vendors are using various organic and inorganic growth strategies to compete in the market.
adidas AG, Alphabet Inc., ASICS Digital Inc., Azumio, BetterMe, Fiit Ltd., Jefit Inc., Nike Inc., Samsung Electronics Co. Ltd., and Under Armour Inc., among others., are some of the few key vendors competing to maintain their market position in the market.
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Key Market Segmentation
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Regional Market Outlook
APAC will contribute to 42% of the market growth during the forecast period. The growth of this region can be attributed to the significant growth of the telecommunication industry. If we look at the country-wise market growth, China and India are the key markets for fitness apps in APAC, which will contribute to the market growth.
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Latest Trends and Drivers in the Fitness Apps Market
Sports and fitness apps help consumers maintain healthy lifestyles and fitness routines by tracking their calories burnt, footsteps, and running distance. The growing use of smartphones has increased the adoption of mobile apps, and the growing penetration of the Internet has increased the number of downloads of mobile apps. Easy-to-use payment options for digital content subscription and access to health management tips are encouraging people to use fitness apps. Moreover, awareness regarding health and nutrition will increase the adoption of mobile fitness apps and drive the growth of the market during the forecast period.
There is intense competition between vendors in the global fitness app market. Hence, vendors are opting for collaborations, strategic partnerships, and acquisitions with market participants, such as software providers, technology providers, and platform providers. Collaborations and partnerships also lead to product development and geographical expansion and provide vendors access to technological expertise. Collaborations help in diversifying product portfolios by introducing new products and increasing the top-line revenue by expanding the market reach. Various companies have adopted such strategies to improve their presence in the market. Thus, the increasing number of M&A activities is a major trend in the market.
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Fitness App Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 15.34% |
Market growth 2021-2025 |
USD 3.50 billion |
Market structure |
Fragmented |
YoY growth (%) |
12.91 |
Regional analysis |
APAC, North America, Europe, MEA, and South America |
Performing market contribution |
APAC at 42% |
Key consumer countries |
US, China, India, UK, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
adidas AG, Alphabet Inc., ASICS Digital Inc., Azumio, BetterMe, Fiit Ltd., Jefit Inc., Nike Inc., Samsung Electronics Co. Ltd., and Under Armour Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Technavio Research
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SOURCE Technavio
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