Move to Earn Fitness Apps Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Platform (iOS, Android, and Others); Device (Smartphones, Tablets, and Wearable Device) and Region/Country
Global Move to Earn Fitness Apps Market is expected to grow at a significant rate of around 18.3% during the forecast period 2022-2028. Move to earn fitness apps is an ideal combination of GameFi and Fitness Apps that incentivizes a more healthy, active lifestyle with token rewards. In this, participants join a program organized by an M2E platform or sync personal fitness trackers with any participating app. The surge in the working population with busy lifestyle and therefore less time to pay attention to health and fitness, and the associated increase in the incidence of stress, anxiety, and depression are expected to drive the move to earn fitness apps market during the forecast period. Apart from this, governments all around the world are working on a variety of initiatives. Mobile network providers see a possible investment opportunity in fitness apps because of the growing popularity of smartphones and the public’s heightened awareness of fitness.
Fit mint, Evidation, Healthy Wage, Sweat coin, Diet Bet, Map My Fitness, Vitality, Charity Miles, Higi, and Win walk are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst platform, iOS category to hold a significant share in the market in 2020”
Based on platform, the market is segmented into iOS, android, and others. The iOS segment held the maximum share in the market. The huge adoption of iOS devices is propelling the market growth during the forecast period. For instance, active Apple device users increased from 1.4 billion in the first fiscal quarter of 2019 to 1.5 billion in the first fiscal quarter of 2020, according to Apple, Inc. The fitness apps designed for iOS devices can provide fitness coaching, activity tracking, streaming workout classes, inspiration & motivational videos for workouts, guided meditations, stretching, and others. Some of the major fitness apps designed for the iOS platform for iPhone, iPad, and Apple Watch include Centr, 7 Minute Workout, MyFitnessPal, Sworkit, Freeletics, Keelo, JEFIT, Strava, and PEAR.
“Amongst device, the wearable device to witness higher CAGR during the forecast period”
On the basis of device, the market is segmented into smartphones, tablets, and wearable devices. The wearable devices is anticipated to grow with high CAGR during the forecast period due to the growing adoption of wearable devices for maintaining fitness and healthy lifestyle. According to Pew Research Center, 2019, approximately 21% of individuals in the U.S. use a wearable device. The adoption of wearable devices, similar to most digital technologies, varies according to socioeconomic factors such as income, education, and occupation. The same study showed that 31% of individuals from the household income group of USD 75,000 or above per year use wearable fitness devices, which significantly drops down to 12% of users from the household income group of USD 30,000 or less per year. High adoption of wearable devices by people in the U.S. is expected to drive the market over the forecast period.
“North America to hold a significant share in the market”
In 2020, North America held a significant share of the global move to earn fitness apps market. Several factors, including surge in the prevalence of lifestyle-related disorders, increasing awareness among individuals regarding preventive healthcare, and the rise in research and development of move to earn fitness apps are driving the growth of the market in the region. Apart from this, the rise in the adoption of smartphones, presence of key players, surge in geriatric population, and technological advancements are also driving the growth of the market during the forecast period.
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 Process of the Move to Earn Fitness Apps Market
|Research Methodology of the Move to Earn Fitness Apps Market
|IMPACT OF COVID-19 ON THE MOVE TO EARN FITNESS APPS MARKET
|MOVE TO EARN FITNESS APPS MARKET REVENUE (USD BN), 2020-2028F
|Rest of North America
|Rest of Europe
|Rest of Asia-Pacific
|Rest of World
|MOVE TO EARN FITNESS APPS MARKET OPPORTUNITIES
|MOVE TO EARN FITNESS APPS MARKET TRENDS
|Demand Side Analysis
|Supply Side Analysis
|VALUE CHAIN ANALYSIS
|Porters Fiver Forces Analysis
|Map My Fitness
Research Methodology for the Move to Earn Fitness Apps Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global move to earn fitness apps market were the three major steps undertaken to create and analyze the adoption of move to earn fitness apps in major regions globally. 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 global move to earn fitness apps market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting 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 of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the move to earn fitness apps market 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 move to earn fitness apps market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type, application, disease, and distribution channel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
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 move to earn fitness apps market. Further, we conducted factor analysis using dependent and independent variables such as various product type, application, disease, and distribution channel of move to earn fitness apps. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the move to earn fitness apps market sector 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 global move to earn fitness apps 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, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the move to earn fitness apps market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global move to earn fitness apps market in terms of products 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, 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
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global move to earn fitness apps market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product type, application, disease, and distribution channel in the global move to earn fitness apps market.
The main objective of the Global Move to Earn Fitness Apps Market Study
The current & future market trends of the global move to earn fitness apps market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends 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 from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the move to earn fitness apps market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product type, application, disease, and distribution channel
- Define and analysis of the regulatory framework for the move to earn fitness apps 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 move to earn fitness apps market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the move to earn fitness apps 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