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Sports and fitness apps are applications designed for mobile devices to track health and fitness related metrics such as calorie intake, weight loss progress, running routes, and exercise routines. They provide a wide range of functionalities including tracking daily activities, recording workouts, setting goals, nutrition tracking, and sharing progress on social media. Popular sports and fitness apps include Fitbit, Nike Run Club, Peloton, Centr, Sweat, and MyFitnessPal.
The Sports and Fitness Apps Market is estimated to be valued at US$ 1.53 Bn in 2023 and is expected to exhibit a CAGR of 17% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The growth of the global Sports and Fitness Apps Market is driven by rising health awareness among consumers and surge in smartphone and internet penetration. According to Statista, the number of smartphone users worldwide is expected to increase from 3.8 billion users in 2021 to 5.5 billion users by 2030. Moreover, availability of affordable and advanced mobile devices has led majority of consumers to rely on their smartphones for fitness activities. For example, Google PlayStore offers more than 30,000 sports and fitness apps and Apple AppStore has over 20,000 fitness apps. This wide availability of various sports and fitness apps on mobile app stores has further fueled the market growth over the forecast period.
Additionally, shift in lifestyle towards health consciousness is another major driver. Sedentary lifestyle and unhealthy dietary habits have contributed significantly to the growing prevalence of lifestyle diseases such as obesity, diabetes, cardiovascular diseases etc. Sports and fitness apps aim to encourage users to adopt a healthy lifestyle by assisting them in daily fitness activities such as running, cycling, yoga etc. as well as monitoring calorie intake and nutrition. This has boosted their demand in recent years.
Segment Analysis
The sports and fitness apps market is dominated by the health and fitness segment. This segment accounts for over 60% of the total market share owing to the growing concerns over health issues and increasing obesity rates globally. The fitness segment has seen an unprecedented growth over the past few years as people are adopting digital means to track their workouts and stay fit.
PEST Analysis
Political: The governments across nations are promoting fitness activities and encouraging use of health apps to monitor vitals. This is boosting adoption of sports and fitness apps.
Economic: Rising disposable incomes and growing health expenditure is fueling the demand for technologically advanced apps in the market. Developed economies dominate the spending.
Social: Increased health awareness among younger population and growing popularity of wearable devices is driving demand. Social media further accelerates adoption through engagement.
Technological: Advancements in AI, AR/VR, and sensors are enhancing user experience. Cloud support and reduced costs are also beneficial.
Key players operating in the sports and fitness apps market are Adidas, Appster, Fitbit, Inc., FitnessKeeper, Azumio, Inc., MyFitnessPal Inc., Nike, Noom, Under Armour, Inc., Applico, Aaptiv, Appinventiv. Major players are focusing on product innovations and integrating advanced technologies like AI for customized experiences and raising user engagement. Partnerships with device manufacturers is another key strategy.
Key Takeaways
The global Sports and Fitness Apps Market is expected to witness high growth, exhibiting CAGR of 17% over the forecast period, due to increasing health awareness among people. North America dominates currently due to higher spending on fitness activities and apps. However, Asia Pacific is witnessing fastest adoption due to growing middle class and presence of major local players.
The United States accounts for over 30% share of the global market. Growing obesity concerns and efforts to promote active lifestyle are driving demand higher in the country. China and Japan also offer lucrative opportunities for players owing to preventive healthcare approach and increasing health expenditures.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
