Fitness App Market to Reach USD 3.50 billion during 2021-2025 | Increasing Use of Mobile Apps to Boost Growth | Technavio

NEW YORK, April 7, 2021 /PRNewswire/ --

The fitness app market is expected to grow by USD 3.50 billion during 2021-2025, expanding at a CAGR of almost 15%. The report also throws light on the impact of the COVID-19 pandemic on the market and the new opportunities and challenges market players can expect. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.

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Fitness App Market: Increasing use of mobile apps to drive growth.
Apps that are developed for digital health and fitness enable people to make quick decisions about their health. The rising use of smartphones has increased the adoption of mobile apps, and the rising penetration of the Internet has increased the number of downloads of mobile apps. Health and fitness mobile apps are mainly classified into three different categories based on the data they manage. These include workout apps, nutrition, and diet apps, and fitness activity tracking apps. All-round apps cover different functions of fitness programs. Awareness among people about health and nutrition will increase the adoption of mobile fitness apps and drive the growth of the market during the forecast period.

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As per Technavio, the growing adoption of wearable devices will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025.

Fitness App Market: Growing adoption of wearable devices.
Several wearable electronic devices, such as smartwatches, smart bands, and smart rings, have various features, such as calling, messaging, and fitness tracking. These devices integrate fitness applications to connect with smartphones for several activities, such as heart rate monitoring, GPS tracking, and sleep monitoring. The proliferation of low-cost wearable devices is increasing the adoption of such devices across the world. To capitalize on the growing demand for wearable devices, the manufacturers of wearable devices are expanding their product portfolios. Sony announced the launch of its new smart band, which was called Sony Wena. The device was capable of cardless transactions and contactless payments and had an inbuilt GPS and heart rate tracker.

"The significant growth of the telecommunication industry and factors such as hectic lifestyles, unhealthy eating habits, and a rise in the number of obese people will further boost market growth during the forecast period", says a senior analyst at Technavio.

Fitness App Market: Major Vendors

• adidas AG
• Alphabet Inc.
• ASICS Digital Inc.
• Azumio
• BetterMe

Fitness App Market: Segmentation Analysis
This market research report segments the fitness app market by application (Lifestyle monitoring, Health Monitoring, and Others) and geography (APAC, North America, Europe, MEA, and South America).

The APAC region led the fitness app market in 2021, followed by North America, Europe, MEA, and South America respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the rising penetration of the internet.

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Some of the key topics covered in the report include:
Market Challenges

Market Drivers

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
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Website: www.technavio.com/
Report Page: https://www.technavio.com/report/fitness-app-market-industry-analysis

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SOURCE Technavio