The Global Fitness Apps Market- Growth, Trends, COVID-19 impact and Forecast (2021-2025)
The Fitness Apps Market is segmented by Type (Exercise and Weight Loss, Activity Tracking, Diet and Nutrition); Platform (iOS, Android and Windows); Device (Smartphones, Wearable Devices and Tablets); Geography (North America, Europe, APAC and ROW).
Introduction
mHealth is defined as a diverse branch of eHealth, which deals with the collection of patient data. This patient related data is collected through wireless electronic means such as mobiles, wearable devices, and other mHealth devices.
Fitness apps utilize artificial intelligence, machine learning, and other technologies to provide personalized fitness programs to their customers. They also offer no equipment workout routines, personalized diet charts, monitor diet, track footsteps, and also provide personalized health coaches.
The major factors that contribute toward the growth of the fitness apps market include growing adoption of smartphones, increasing penetration of 3G/4G networks, increasing utilization of connected devices, technological innovations.
As the coronavirus pandemic has disrupted the world, many industries are bearing the brunt of the pandemic. However, industries such as fitness and healthcare are gaining traction in this COVID-19 pandemics with positive impact through their apps.
Table of Contents
Market Overview
The global fitness apps market is expected to grow to $37 billion by 2025
Growth momentum is expected to accelerate during the forecast period with a 22.95% CAGR.
Growing penetration of smartphones and internet connectivity, growing awareness regarding health and wellness are boosting the market growth.
North America is dominating due to increasing awareness about health and the high adoption rate of fitness apps.
Key Trends
Growing application of cloud-based fitness app solutions across the healthcare ecosystem
Wearable health sensors and growing need for urgent care apps.
Evolving consumer trends and growing affinity toward adopting a healthier lifestyle
Growing number of startups and increasing investment in them is expected to drive the market in future
Key Market Players
Some of the key players in the market are Adidas, Fitbit, FitnessKeeper, Azumio, Appster, MyFitnessPal.
The market is highly competitive owing to the rise in demand for fitness app services coupled with technological advancements, which is likely to boost the entry of new companies. Mergers & acquisitions, strategic alliances, and extensive R&D in the area of mHealth technologies are some of the initiatives being undertaken by key companies to increase their market shares.
Growth Drivers and Challenges
Evolving industrialization in growing economies are resulting in the prevalence and early onset of chronic diseases. To overcome this situation, increasing utilization of connected devices and mHealth apps for the management of chronic diseases
Increasing penetration of smartphones, tablets, and other mobile platforms.
Robust penetration of 3G and 4G networks for uninterrupted healthcare services.
Data security and privacy concerns are some of the factors that may hinder the adoption of mHealth platforms, thereby limiting the market growth. Data breaches, configuration changes, or accessibility issues to sensitive information are impeding the growth of the market
High cost involved in the fitness app and tracker development