LONDON--(BUSINESS WIRE)--The global fitness app market size is poised to grow by USD 1.68 billion during 2020-2024, progressing at a CAGR of almost 12% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The market is witnessing an increase in the demand for wearable devices such as smartwatches, smart bands, and smart rings that have various features such as calling, messaging, and fitness tracking. These devices can be integrated with fitness apps to provide information on heart rate, exercise cognition, and issue movement reminders. To capitalize on the growing popularity of wearable devices, vendors are expanding their product portfolios by launching products equipped with advanced features such as LTE, music storage, built-in GPS, etc. Some vendors are also offering low-cost wearable products that are specifically designed for children. These factors are increasing the adoption of wearable devices, which in turn will positively influence the fitness app market.
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Report Highlights:
- The major fitness app market growth came from the lifestyle monitoring segment in 2019.
- APAC was the largest fitness apps market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to the proliferation of a variety of fitness apps.
- The global fitness app market is fragmented. adidas AG, ASICS Digital Inc., Azumio Inc., BetterME., FitNow Inc., Google LLC, Nike Inc., Samsung Electronics Co. Ltd., Under Armour Inc., and YAZIO GmbH. are some of the major market participants. To help clients improve their market position, this fitness app market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global fitness app market 2020-2024 is expected to have positive growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Proliferation of a Variety of Fitness Apps will be a Key Market Trend
Vendors in the market are introducing various fitness apps for different purposes, workout routines, and exercises. For instance, some vendors are introducing fitness apps specifically for pregnant women, different age groups and gender. These apps enable customers to monitor their health and fitness by analyzing their calorie intake and provide guidance about proper nutrition to help them stay healthy and fit. The launch of such new and advanced fitness apps is enabling vendors to increase their market share and profitability. Therefore, the proliferation of different types of fitness apps is expected to boost the growth of the market during the forecast period.
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Fitness App Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist fitness app market growth during the next five years
- Estimation of the fitness app market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the fitness app market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of fitness app market vendors
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Value Chain Analysis
PART 04: MARKET SIZING
- Market definition
- Market outlook
- Market sizing 2019
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY APPLICATION
- Market segmentation by application
- Comparison by application
- Lifestyle monitoring - Market size and forecast 2019-2024
- Health monitoring - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by application
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 09: MARKET SEGMENTATION BY GENDER
- Market segmentation by gender
- Comparison by gender
- Female - Market size and forecast 2019-2024
- Male - Market size and forecast 2019-2024
- Market opportunity by gender
PART 10: DECISION FRAMEWORK
PART 11: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 12: MARKET TRENDS
- Increasing number of M&A
- Rising investments
- Proliferation of fitness apps
PART 13: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 14: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- adidas AG
- ASICS Digital Inc.
- Azumio Inc.
- BetterME.
- FitNow Inc.
- Google LLC
- Nike Inc.
- Samsung Electronics Co. Ltd.
- Under Armour Inc.
- YAZIO GmbH
PART 15: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 16: EXPLORE TECHNAVIO
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