Fitness App Market to Surpass Market Valuation of USD 4.80 Billion by 2031 | SkyQuest Technology
Westford, USA, Oct. 10, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Global Fitness App Market size was valued at USD 1.54 billion in 2023 and is poised to grow from USD 1.81 billion in 2024 to USD 4.80 billion by 2031, growing at a CAGR of 17.7% in the forecast period (2024-2031). The growing online network of gyms and fitness center’s is encouraging more people to use these apps. Consequently, a large number of clients are spending exorbitant amounts of money on in-house workout apparatus thus increasing revenue. For instance, the case of the United States fitness equipment company known as Peloton whose revenue is predicted to grow threefold within the year 2020. Even virtual app providers are focusing more on creating state of the art solutions and expanding their reach through multiple strategic approaches such as partnerships, collaborations, licensing and product launches.
Browse in-depth TOC on the " Fitness App Market"
Pages – 219
Tables – 149
Figures – 78
Explore Comprehensive Insights into The Fitness App Market with A Detailed Sample PDF Report Free: https://www.skyquestt.com/sample-request/fitness-app-market
Fitness App Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 1.54 Billion |
| Estimated Value by 2031 | USD 4.80 Billion |
| Growth Rate | Poised to grow at a CAGR of 17.7% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Device, Platform, Gender and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Community features fostering engagement |
| Key Market Opportunities | Expanding offerings to cater to specialized fitness niches |
| Key Market Drivers | People recognize the importance of healthy nutrition |
Market Segmental Analysis
The global fitness app market is segmented by type, platform, gender, devices and region.
Based on type, the market can be segmented into workout and exercise apps, and diet and nutrition apps.
Based on application, the market is segmented into smartphones, and tablets.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Workout and Exercise Apps to Hold Significant Growth due to Increasing Interest in Personalized Fitness Solutions
Irrespective of the region, it is observed that in the global fitness apps market, the highest proportion consists of workout and exercise applications as customers prefer more individualized fitness solutions, have framed workout schedules available at their disposal and they can work out from the comfort of their homes. This surge is further fueled by factors such as improving health standards among the populace, improved technology regarding mobile devices and the current trend of fitness gamification, which encourages users to engage and stick to fitness activities.
To establish the important thing traits, Ask Our Experts: https://www.skyquestt.com/speak-with-analyst/fitness-app-market
Smartphones Device to Lead the Market due to Fitness Tracking Features
Smartphones dominate the global fitness app market due to their widespread use, portability, and integration with fitness tracking features. Such supremacy can be attributed to the presence of several fitness applications, the constant use of sensors that provide health data in real time, and easy to use systems. Besides, being able to work out or check one’s health information on the move enhances the use of smartphones for fitness.
North America to Dominate the Market due to High Smartphone Penetration
North America's dominance in the global fitness app market is driven by high smartphone penetration, rising health awareness, and an established fitness culture. Factors such as advanced healthcare infrastructure, increased adoption of wearable fitness technology, and strong consumer demand for personalized fitness solutions further support the region’s leading position in the market.
Fitness App Market Insight
Drivers:
- Rising Illnesses Associated with Lifestyle Choices
- General Shift in Culture to Healthy Living
- Real-Time Aata that is Linked Directly to Fitness Applications
Restraints:
- Available Alternatives to Fitness Apps
- Competitive Market Calls for Unique Features
- Fitness App Market Faces High Attrition Rates
Prominent Players in Fitness App Market
- Fitbit (US)
- MyFitnessPal (US)
- Under Armour (US)
- Nike (US)
- Adidas (Germany)
- ASICS (Japan)
- Azumio (US)
- FatSecret (US)
- FitnessKeeper (US)
- HealthifyMe (India)
- Jefit (US)
- Keelo (US)
- Lose It! (US)
- MapMyFitness (US)
- Runtastic (Austria)
- Samsung Electronics (South Korea)
- Sports Tracker (Finland)
- Strava (US)
- Sworkit (US)
- Withings (France)
Take Action Now: Secure Your Fitness App Market Today - https://www.skyquestt.com/buy-now/fitness-app-market
Key Questions Answered in Global Fitness App Market Report
- What is the projected value of the Global Fitness App Market by 2031, and what is the expected growth rate during the forecast period?
- Which factors are driving the dominance of smartphones in the global fitness app market?
- Why is North America expected to dominate the global fitness app market?
This report provides the following insights:
Analysis of key drivers (Widespread smartphone use & advancements in mobile technology, growing demand for customized workout plans, shift towards at-home workouts), restraints (High subscription costs for premium fitness content, limited access to the latest workout solution, dependence on additional devices such as smartwatches), opportunities (Growing interest in integrating fitness apps with telemedicine, creating apps catering to specific fitness, expanding offerings employee wellness programs), and challenges (Continues usage fitness apps over time, addressing growing concerns over data breaches) influencing the growth of fitness app market.
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the fitness app market.
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the fitness app market.
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
Read Your Fitness App Market Insights Report Today - https://www.skyquestt.com/report/fitness-app-market
Related Reports:
Hi-Tech Medical Devices Market is growing at a CAGR of 26.01% in the forecast period (2024-2031)
Fitness Ball Market is growing at a CAGR of 8.2% in the forecast period (2024-2031)
Sports and Fitness Nutrition Foods and Beverages Market is growing at a CAGR of 7.40% in the forecast period (2024-2031)
Consumer Healthcare Market is growing at a CAGR of 7.60% in the forecast period (2024-2031)
Dietary Supplements Market is growing at a CAGR of 7.4% in the forecast period (2024-2031)
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact Us:
Mr. Jagraj Singh
SkyQuest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/
© Copyright Globe Newswire, Inc. All rights reserved. The information contained in this news report may not be published, broadcast or otherwise distributed without the prior written authority of Globe Newswire, Inc.
