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Fitness App Industry to Garner $120.37 Bn, Globally, by 2030 at 24.3% CAGR: Allied Market Research
Growing emphasis toward maintaining healthy lifestyle, increase in awareness about diet-related diseases, and surge in use of smartphones, wearables, and tablets drive the global fitness apps market. On the other hand, technical issues in apps, high cost of in-app purchases, and concerns regarding data security and strict regulation of data privacy hinder the market growth. However, technological advancements in AI and machine learning and increase in the prevalence of hypertension, cardiac problems, and obesity are projected to create lucrative opportunities in the industry.
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Based on device type, the smartphone segment held the major share in 2020, generating more than half of the global fitness apps market, owing to self-efficacy and self-monitoring solutions provided by smartphones. The wearable devices segment, on the other hand, is projected to cite the fastest CAGR of 25.5% during the forecast period. This is attributed to growing trend of wearable technology among the youth.
Based on operating system, the iOS segment held the highest share in 2020, generating more than half of the global fitness apps industry. This is because it offers better premium class plans. The Android segment, however, would cite the fastest CAGR of 26.1% from 2021 to 2030. This is due to growing adoption of android devices in the majority of countries.
Based on region, the market across North America accounted for the highest share in 2020, contributing more than one-third of the global fitness app industry, due to rise in popularity of fitness apps among the younger race. On the other hand, the global fitness apps market across Asia-Pacific is expected to cite the fastest CAGR of 26.3% throughout the forecast period. This is owing to rise in application of data analytics in fitness apps such as assessing and developing yoga programs, spotting anomalies in scans, and so on.
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