United States, Rockville MD, June 16, 2022 (GLOBE NEWSWIRE) — According to a recently published analysis by Fact.MR, the demand for Fitness Applications market revenue reached US$ 1.1 Billion in 2021 and is predicted to reach US$ 8.1 Billion by the end of 2032, by growing at a CAGR of nearly 20% during the next 10 years. The global market is likely to offer an absolute dollar opportunity of around US$ 6.8 Billion, where Exercise and Weight Loss category commands the largest share of 49%.
Fitness Applications market surged rapidly with the onset of global pandemic which abstained people from going to traditional gyms. The Covid induced nationwide lockdowns and social distancing encouraged people in switching to virtual training platforms. With the increased subscriptions, the market is expected to grow at a rate of nearly 20% as compared to historical average of 14.6% CAGR.
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The Fitness Applications market is likely to rise as people become more aware of their physical and mental health. Consumers have begun to track their health issues, and based on this data, have begun to make lifestyle modifications for the greater good. Additionally, the developing online network of fitness studios and gyms have been aiding the adoption of these apps.
Furthermore, providing fitness updates on social media sites encourages people to compete in a friendly manner. As a result, the demand for fitness applications will increase. The UK and Japan are predicted to offer the most lucrative outcomes throughout the forecast period of 2022-2032, expanding at a CAGR of 26% and 24.4% respectively.
Which Factors are driving the growth of Fitness Applications Market?
The increased competition between brick and mortar gyms and Fitness Applications has compelled app-based platforms to adopt AI, machine learning, and other advanced technologies to build a compelling platform for their users. These platforms provide them with tailored diet plans, step tracking, diet monitoring, health expert advice, etc.
The industry is also being driven by growing awareness for physical and mental well-being. Consumers have begun to track their health conditions and based on that information, have started making lifestyle changes. Furthermore, the growing online network of fitness studios and gyms has been assisting in increasing the adoption rate of mental fitness apps.
The advent of COVID-19 aided people in switching from the traditional studios and gyms to virtual training platforms resulting in rapid increase in the number of fitness app downloads and subscriptions. This has aided the demand for sports fitness trackers and sports fitness apps worldwide, such as yoga apps.
To learn more about Fitness Applications Market, you can get in touch with our Analyst at https://www.factmr.com/connectus/sample?flag=AE&rep_id=7431
Key Segments Covered in the Fitness Applications Industry Survey
- By Type :
- Exercise & Weight Loss Apps
- Diet & Nutrition Apps
- Fitness Tracker Apps/ Workout Apps
- By Platform :
- Android Based Fitness Apps
- iOS Based Fitness Apps
- Other Platform based Based Fitness Apps
- By Device Type :