Global Fitness App Market to Hit $120.37 Billion by 2030
A new study by Allied Market Research says activity tracking will experience significant growth
A recently published report by Allied Market Research titled “Fitness App Market by Device Type, Operating System and Type: Global Opportunity Analysis and Industry Forecast, 2021–2030,” revealed that the global fitness app market size is projected to hit $120.37 billion by 2030. In 2020, the market size was valued at $13.78 billion.
“Activity tracking segment is expected to experience significant growth in the coming years, as it plays a critical role in tracking the personal health and dietary habits of the user and also helps the user to lose weight by tracking their activity,” says Pramod Borasi, Senior Research Analyst at Allied Market Research.
Athletech News breaks down the study as we look ahead to the future of fitness apps.
The future of fitness apps
Allied Market Research says that fitness apps are harnessing AI and machine learning in order to provide the most personalized program to its customers. Apps are also providing personalized diet charts, health coaches, and offering workout routines for those without at-home gym equipment.
What is driving the market?
The recently published report says that the desire to maintain a healthy lifestyle along with the increased use of tech like smartphones, tablets, and wearables is impacting the growth of the market. Along with tech, the increasing awareness about diet-related diseases has helped the growth of the market, says Allied Market Research.
Here is what may limit fitness app growth
While Allied Market Research paints a rosy picture for the future of the global fitness app market, there are some factors that may limit growth. Tech issues in apps, the cost of in-app purchases, data security concerns, and regulations can pose some limitations. That aside, AMR says that tech advancements (like AI) and rising diseases like hypertension and obesity, can offer “remunerative opportunities for the expansion of the fitness app market.”
The device that’s dominating the fitness app market & the buzz over wearables
AMR says that the smartphone has dominated the fitness app market in 2020, reporting that it’s a more cost-friendly alternative over gyms and fitness facilities. Wearable devices are expected to grow significantly in the near future, as consumers seek connective capabilities and the “possibility of real-time communication” between the user and the fitness instructor. AMR reports that this is enabling fitness watches to add capabilities like music.
The region that will see the highest growth rate
North America dominated the fitness market size in 2020 and is on track to experience the highest growth rate, especially as younger populations use fitness apps. Asia-Pacific will also experience significant growth, says AMR. The future growth in Asia-Pacific is due to the rising application of data analytics in fitness.
The COVID-19 factor
While COVID has been detrimental to most businesses, particularly gyms, AMR says that COVID-19 is “anticipated to have a positive impact on the growth of the fitness app market.” The study finds that consumers have sought to improve their health and to help prevent the adverse effects of the infectious disease. The health and fitness app industry hit global records for downloads during March 2020.
