Fitness App Market: Activity Tracking Is Anticipated To Register The Fastest Growth Rate Of 18.7%

 Fitness App Industry Overview

The global fitness app market size was valued at USD 1.3 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 17.6% from 2023 to 2030. The spreading COVID-19 pandemic led to nationwide lockdowns followed by social distancing norms, thereby aiding the transition from traditional studios and gyms to virtual fitness. It, in turn, has led to increased downloads and subscriptions of fitness apps. As per a report published by the American College of Sports Medicine (ACSM), it has been stated that fitness apps were ranked at number 13 in accordance with the 2019 fitness trends.

Tough competition has been witnessed between brick-and-mortar gyms against in-app fitness. Information technology has transformed the way the fitness industry works. According to an article published by World Economic Forum in September 2020, it is stated that downloads of fitness and health apps increased globally by 46.0% due to the growing trend of online fitness training, which is driving the market globally. The growing awareness regarding fitness and mental well-being is also driving the market.

Gather more insights about the market drivers, restrains and growth of the Global Fitness App market

 

In addition, the COVID-19 pandemic has led to an increase in awareness concerning health and hygiene. As per a World Economic Forum article published in September 2020, the Daily Active Users (DAUs) of fitness apps have increased by 24.0% in quarter 2 over quarter 1 in 2020. Moreover, the expanding network of fitness studios and gyms through online platforms is further aiding the adoption of these apps. Owing to this, several consumers are significantly investing in in-home fitness equipment, thus boosting revenue growth. For instance, revenue generated by Peloton, a U.S.-based exercise equipment company, has been estimated to double in 2020.

These apps are utilizing machine learning, artificial intelligence, and other technologies to offer personalized fitness plans to their customers. They also offer personalized diet charts, no equipment workout routines, track footsteps, monitor diet, and also provide personalized health and fitness coaches. Such offerings and advantages over brick and mortars are expected to increase the growth potential of the market. For instance, MyFitnessPal offers personalized diet and activity tracking to its users, generating a revenue of USD 6.7 million in June 2020. In addition, wearable technology has remained the leading fitness trend for 2019. Health and fitness apps show the highest retention rates across all categories with 96.0% of users using only one of these apps.

Another major factor aiding the market growth is the increasing penetration of smartphones worldwide. As per the Mobile Economy Survey 2018, smartphone penetration is projected to increase from 57.0% in 2017 to 77.0% by 2025. In addition, as per the Mobile Economy 2018 survey, unique mobile subscribers are anticipated to reach 5.9 billion by 2025. Moreover, the growing adoption of wearable devices including Fitbit and Apple Watch will further aid the market growth.

Key players operating in the market are introducing innovative fitness apps to meet the growing consumer demand, thereby projected to drive the market globally. Moreover, new functions and advanced features are further added to upgrade the consumer experience. For instance, in June 2020, HealthifyMe - a health and nutrition app launched HealthifyMe Studio, which provides live streaming interactive workouts. Moreover, the entry of new market players was comparatively easy 5 years ago, owing to the gap in demand and supply in terms of functionality. Simple Design and Leap Fitness Group held approximately 19.17% and 10.44% share, respectively, of five hundred best-performing apps in Apple Store and Google Play. Running apps have also witnessed significant growth. This can be attributed to the growing mergers & acquisitions in the market. For instance, five fitness apps including Runtastic and Runkeeper were acquired by sports apparel brands in 2015-2016.

Several investment firms and capital ventures are investing in the fitness app industry. The effectiveness and adoption of these apps have led to increased investments in the fitness app sector. In May 2019, Future Fitness announced that it has received USD 8.5 million in Series A funding led by Kleiner Perkins, an American venture capital firm. Other investors in the company include Khosla Ventures, Caffeinated Capital, Founders Fund, and Instagram co-founder Mike Krieger. In addition, Fittr raised USD 2.0 million in April 2020. It, in turn, is expected to positively impact the market growth.


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Fitness App Market Segmentation

Grand View Research has segmented the global fitness app market on the basis of type, platform, device, and region:

Fitness App Type Outlook (Revenue, USD Million, 2016 - 2030)

  • Exercise & Weight Loss
  • Diet & Nutrition
  • Activity Tracking

Fitness App Platform Outlook (Revenue, USD Million, 2016 - 2030)

  • Android
  • iOS
  • Others

Fitness App Device Outlook (Revenue, USD Million, 2016 - 2030)

  • Smartphones
  • Tablets
  • Wearable Devices

Fitness App Regional Outlook (Revenue, USD Million, 2016 - 2030)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)


Market Share Insights

  • June 2020: HealthifyMe, a health and nutrition app, launched HealthifyMe Studio to provide live and interactive workouts. In addition, competitive rivalry in the market is high as this industry is highly fragmented, which leads to prolonged market competition, with innovations often used to influence buyers.

 

Key Companies profiled:

Some prominent players in the global fitness app market include:

  • Adidas
  • Appster
  • FitnessKeeper
  • Fitbit, Inc.
  • Azumio, Inc.
  • MyFitnessPal Inc.
  • Noom
  • Nike
  • Under Armour, Inc.
  • WillowTree, Inc.
  • Polar Electro
  • Kayla Itsines
  • Google
  • Fooducate
  • ASICS America Corporation


Order a free sample PDF of the Fitness App Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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