Selbyville, Delaware, Nov. 24, 2020 (GLOBE NEWSWIRE) — As per reliable estimates, worldwide fitness app market size is predicted to reach USD 15.96 billion mark by 2026. Rising concerns associated with unhealthy habits, evolving consumer lifestyle, and growing obese population are some of the key factors propelling the market expansion.
The study elaborates on several market segmentations including app type, device type, OS platform type, and regional outlook. Additionally, the document conducts a thorough SWOT analysis of various companies operating in this business sphere.
The research report also analyzes the impact of COVID-19 outbreak on industry expansion graph and valuation in the ensuing years, further allowing for advanced decision-making during investment assessment.
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The surge in obese population coupled with rising adoption of sedentary lifestyle have resulted in increased pervasiveness of diseases such as hypertension and diabetes. In addition to this, rising per capita income along with increasing awareness pertaining to health and nutrition are stimulating the overall industry outlook.
According to industry analysts, the number of gym and health club memberships has significantly increased in the recent past. Additionally, rising smartphone penetration, widespread adoption of mobile devices, and easy accessibility to high-speed internet are positively impacting the remuneration scale of global fitness app market.
Availability of numerous types of fitness apps such as Sweat: Kayla Itsines Fitness and Runstatic coupled with high concentration of companies are also facilitating the business scenario. In 2015 for instance, Adidas acquired the Austrian company Runstatic in order to improve its overall market share. Thus, focus among major companies towards expanding their product portfolio through innovative launches and strategic collaborations are aiding the expansion of global fitness app market.
Highlighting the regional outlook
Global fitness app industry is bifurcated into North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa. According to authentic estimations, North America is expected to capture majority market share by the year 2026.
Growing population and surging disposable income are favoring the regional market outlook. Moreover, widespread adoption of sedentary lifestyle and rising health concerns have augmented the demand for fitness apps, which in turn is positively swaying the business dynamics in North America.
Meanwhile, Asia-Pacific fitness app market is set to record the highest CAGR through 2026. Factors such as growing purchasing power, rising health cognizance, high concentration of fitness centers, and increasing smartphone penetration have allowed Asia-Pacific to emerge as a major revenue generator for worldwide fitness app market.
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Global Fitness App Market by App Type (Revenue, USD Billion, 2015-2026)
- Medication Adherence
- Lifestyle Management
- Nutrition & Diet
- Disease Management
- Workout & Exercise Apps
Global Fitness App Market by Device Terrain (Revenue, USD Billion, 2015-2026)
- Wearable Devices
Global Fitness App Market by OS Platform (Revenue, USD Billion, 2015-2026)
Global Fitness App Market Regional Outlook (Revenue, USD Billion, 2015-2026)