Fitness App Market: Current Analysis and Forecast (2021-2027)

Report Description

The global Fitness App Market reached more than 5 Bn in 2020 and is expected to display an elevated CAGR of ~25% over the forecast period (2021-2027)

A rise in smartphone end-users across the globe due to the rise in disposable income and the availability of smartphones at affordable prices is leading to the growth of the market. As per Gartner, After a steep decline in 2020, global smartphone sales to end users grew 26% in the first quarter of 2021. overall worldwide cell phone sales to end users grew 22% year over year. According to preliminary data from the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker, smartphone vendors shipped a total of 313.2 million devices during the 3rd quarter of 2021 which further proves this market is headed back toward future growth

the increasing obese population in the region and rising health concerns are some of the other significant factors are driving fitness app market. For instance, nearly 73% of US adults are overweight or obese. Out of these, 42% of American adults had obesity and 10% were severely obese, while another 30.7% were overweight.

Furthermore, with the presence of well-established players in the region and rising preventive healthcare measures many consumers are engaging in regular workout regimes to remain fit which in turn is also boosting the fitness app market in the region. Also, Most of the app developing companies are introducing new features such as health monitoring and smartwatch connectivity to cater to the rising demand of the end-users

Percentage of Urban Population, Worldwide, 2011-2020

Adidas, Fitbit, Inc., Appster, Azumio, Inc., MyFitnessPal Inc., Applico, FitnessKeeper, Aaptiv, Nike, and Noom, etc., are some of the prominent players operating in the Fitness App market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.

Insights Presented in the Report

“Amongst Type, Workout and Exercise Apps segment holds the major share”

Based on the type, the market is fragmented into Workout and Exercise Apps, Disease Management, Lifestyle Management, Nutrition and Diet, Medication Adherence, and Others. The Workout and Exercise Apps segment captured XX% market share in the Fitness App Market in 2020 and dominated the market. Moreover, the market would witness a sharp rise in the forthcoming years owing to the surging awareness among consumers. However, the lifestyle management segment would witness sky-rocked growth in the forecast period of 2021-2027F

“Amongst Platform, Android segment to dominate the market during the forecast period”

Based on the Platform, the market is fragmented into Android, iOS, and Windows. The android segment captured XX% market share in the Fitness App Market in 2020 and dominated the market. Moreover, the market would witness a sharp rise in the forthcoming years owing to the rising number of android shipments coupled with the availability of android phones at a reasonable price.

“Amongst Gender, Male segment to dominate the market during the forecast period”

Based on Gender, the market is fragmented into Male and females. The male segmented captured XX% market share in the Fitness App Market in 2020 and dominated the market. However, the female segment would witness a sharp rise in the forthcoming years owing to the rising awareness among females and the rising health issues to females.

“Amongst Device, Smartphone segment to dominate the market during the forecast period”

Based on the Device, the market is fragmented into Smartphones, Tablets, and Wearable Devices. The smartphones segment captured XX% market share in the Fitness App Market in 2020 and dominated the market. However, the wearable device segment would witness a sharp rise in the forthcoming years owing to the rising popularity among consumers and the launch of new smart wearables at an affordable price

“North America represents one of the largest markets of Fitness App market”

For a better understanding of the market dynamics of the Fitness App market, a detailed analysis was conducted for different regions across the globe including North America, Europe, Asia Pacific, and the Rest of the world. North America dominated the market and generated the leading revenue share in 2020 owing to the availability of Fitness App in abundance and new launches specifically for women are some of the factors that are contributing to the growth of the market.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Fitness App Market were the three major steps undertaken to create and analyze the demand for Fitness App across major regions. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Fitness App market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/ bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the Fitness App through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Fitness App market, we conducted a detailed secondary analysis to gather historical market insights and share for type, platform, gender, and device for major regions. Major segments included in the report are type and device. Further region and country-level analyses were conducted to evaluate the overall adoption of Fitness App across the globe.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Fitness App. Further, we conducted factor analysis using dependent and independent variables such as growth in smartphone users, rising aging population, and emerging number CVDs among consumers, etc., A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Fitness App industry across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Fitness App market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. bottom-up/ top-down approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of Fitness App across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Fitness App market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Fitness App market. Data was split into several segments sub-segments post studying various parameters and trends in the areas of type, platform, gender, and device of the Fitness App market.
Main Objective of the Fitness App Market Study

The current & future market trends of Fitness App were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of Fitness App in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of type, platform, gender, and device
• Define and analysis of the regulatory framework for the Fitness App industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Fitness App market for the major countries
• The major region studied in the report includes North America, Europe, Asia- Pacific, and the Rest of the World.
• Company profiles of the Fitness App market and the growth strategies adopted by the market players to sustain in the fast-growing market

Deep dive regional level analysis of the industry