Market Size of Digital Fitness Apps Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 14.30 % |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Digital Fitness Apps Market Analysis
The Digital Fitness Apps Market is expected to grow at a CAGR of 14.3% for the next five years. This can be attributed to the increase in demand for in-app purchases and the dependence of global digital lifestyles on adopting mobile apps. The increased emphasis on maintaining a healthy lifestyle mainly generates the market for fitness apps.
- The market is expanding due to rising smartphone usage globally and rapid technological advancement. The industry is also being expanded by rising data usage, the widespread use of the internet, and a rise in promotional offerings such as subscription discounts. Due to information technology improvements, the fitness industry's operating model is about to change rapidly in the forecast period.
- The fitness apps use emerging technologies for artificial intelligence, machine learning, and several new innovative technologies that track the users' daily routine and provide them with a customized diet, workout, walking, and sleep cycle plans without any machine or equipment. The program keeps an eye on human activity 24/7. Thereby, it is the most effective way of tracking health conditions without much human intervention.
- A typical fitness app gathers information from many wearable gadget sensors. Some sensors are worn on the user's wrist, while others are portable and fit in their pocket. Additionally, the company that created the fitness app allows users to add data to the app manually. Hackers can acquire confidential information like credit or debit card numbers if they get access to the device.
- At present, people around the world have become much more health conscious, especially after the Covid-19 pandemic. Also, obesity and weight gain are causes of concern for the young generation due to improper eating habits, junk food intake, and adverse work-life stress. Newly developed fitness apps concentrate on weight loss tracking measures and provide mental health solutions. That is why fitness apps are largely adopted globally, and the market is expected to witness growth in the coming years.
- During the adverse phase of the pandemic, there was a global state of lockdown. gyms and fitness studios had no choice but to enhance their online presence while the building was under lockdown. COVID-19 enhanced users' transition from conventional studios and gyms to virtual training platforms, quickly increasing the number of fitness app downloads and subscriptions.
