An increased usage of mobile applications, growing adoption of fitness and sports applications for monitoring health activities is driving the market demand.
New York, May 14, 2020 (GLOBE NEWSWIRE) -- The global Fitness App market is forecast to reach USD 14.64 Billion by 2027, according to a new report by Reports and Data. The market has witnessed an increase in demand in the past few years owing to the growing penetration of smartphones and the emergence of advanced technologies in the healthcare sector. Digital health has developed into a successful business, attracting several industries from the outside of healthcare.
Mobile apps are able to help people manage their own health, promote healthy living, and have access to necessary information when and where they need it. These tools are being adopted rapidly as they are being developed. Advanced technologies have revolutionized the healthcare industry.
The growing investment in health startups has gained momentum, which has further augmented the demand for the market. The newcomers are coming up with new ways of making these apps more user friendly and are trying to tap into more opportunistic areas of growth. A total of USD 7.5 billion was invested into various start-ups, attempting to digitalize the healthcare system of the U.S. The statistics from various health and fitness app shows that users are loyal to their favorite apps. Almost 96% use only one fitness app. Over 75% of active users open their apps at least two times a week. As well, 25% of the most engaged users open health or fitness apps more than ten times a week.
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The COVID-19 impact:
The COVID-19 virus pandemic has initiated a seismic wave of health anxiety and awareness, which is triggering a new category of virus-fighting tech. The lockdown to ensure social distancing has triggered the growth in subscribers on fitness apps. This industry is doing its best to keep the users entertained within the four walls and are witnessing a tremendous surge in subscribers. The industry’s demand is growing as people are trying to stay fit during the quarantine and social distancing will further limit human contact that will again boost the demand for the market after the lockdown has been lifted.
Further key findings from the report suggest
The usage of disease management apps has grown significantly in remote areas due to the lack of hospitals and clinics. Moreover, the shifting trend of the healthcare industry to value-based patient-centric care and outcomes is driving the segmental growth. There is a significant increase in the number of diabetes patients across the globe which, is also fostering the adoption of Glooko, a remote monitoring app for patients suffering from diabetes.
The android device held most of the market share in 2019 and is expected to grow in the coming years. As more Android devices are being shipped across the globe, such a large level of ownership has made an impact on the in-app ecosystems.
Fitbit manufactures smart wearable technologies to monitor health conditions. As of November 2019, the company had 28 million active users across the globe and has sold more than 100 million devices. Wearable devices are forecasted to grow with a CAGR of 23.2% during the forecast period.
Europe is expected to have promising growth over the forecast period due to the growing investments by the European companies in developing prototype solutions and systems in the areas of fitness apps with an increased potential to tap into the high-volume markets in the future.
Key participants include Appster, Adidas, Asics America Corporation, Fitbit, Inc., Azumio, Inc., Fitnesskeeper, Google, Fooducate, Kayla Itsines, and Nike, among others.
With coronavirus cases being detected on a daily basis, gyms are going virtual with online classes via Zoom. The positive effect can be seen through fitness company Beachbody that has gained over 200% growth in subscribers.
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For the purpose of this report, Reports and Data have segmented the global Fitness App market on the basis of type, platform, application, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
Workout & Exercise Apps
Nutrition & Diet
Platform Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/fitness-app-market
Regional Outlook (Revenue, USD Billion; 2017-2027)
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