The global fitness app market is expected to reach US$ 15.59 billion by 2028
The growth in fitness app is attributed to the rising awareness among the consumers pertaining to leading a healthy lifestyle owing to the outbreak of the COVID-19 pandemic, increasing smartphone penetration rate, and busy lifestyles causing people to look for connected healthcare.
Moreover, positive investment scenario for start-ups, diversification among products and services by key players, innovative promotional strategies, and social media influence also created growth prospects for fitness apps.
The global market for fitness app is fragmented based on type, OS platform, device type, and region. In terms of type, the market is segmented into workout & exercise apps, disease management, lifestyle management, nutrition & diet, and medication adherence.
Based on the OS platform, the global market for fitness app is further bifurcated into android, iOS, and windows. Based on device type, the global market for fitness app is further bifurcated into smartphones, tablets, and wearable devices.
- The workout & exercise app segment accounted for the largest revenue share in 2020 owing to the increasing obesity among youth and adults. The segment held over 30% of the global share in 2020.
- Based on device type, the smartphone segment is projected to constitute over 60% of the market share by 2028. The increasing penetration of fitness apps with smartphones is primarily responsible for such a high revenue share.
- North American region is dominating the global market for fitness app holding over one-third of the market share throughout the forecast period. Positive funding scenario and increasing awareness among consumers is favoring market growth.
- The players including Fitbit, HealthifyMe, and MyFitnessPal Inc. together held a significant market share in 2020 owing to their regional presence and several product offerings across the operating systems.
Source: Yahoo Finance