May 28, 2024
Sports And Fitness Apps Market

The Increased Focus on Health and Wellness is anticipated to openup the new avanue for Sports And Fitness Apps Market

The Sports And Fitness Apps Market is estimated to be valued at US$ 1.53 Bn or Mn 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 Overview:

Sports and fitness apps offer a wide range of services such as exercise and workout tracking, heart rate and calorie monitoring, diet and nutrition tracking etc. These apps are available for both android and IOS based smartphones and other smart devices. Users can download these apps for free or paid subscription to track their daily activities, monitor vitals and follow customized workout regimes and diet plans from home or outdoors. Popular sports and fitness apps include apps like MyFitnessPal, Nike Training Club, Runkeeper etc.

Market Dynamics:

One of the key drivers for the sports and fitness apps market is growing health awareness among people. With increasing sedentary lifestyle and obesity rates, more individuals are focusing on fitness and adopting active lifestyles. Sports and fitness apps helps users keep a track of their activities and progress in a fun, engaging manner which motivates them to stay fit. Secondly, the pandemic has created a paradigm shift towards virtual connectivity. Gyms and fitness centers were shut during lockdowns forcing people to switch to online workout classes and video tutorials available through various apps. Even now, many prefer virtual workouts over offline classes due to safety concerns, increasing the demand of sports and fitness apps.

The increased focus on health and wellness is anticipated to openup the new avanue for Sports And Fitness Apps Market. The Sports And Fitness Apps Market is estimated to be valued at US$ 1.53 Bn or Mn in 2023 and is expected to exhibit a CAGR of 17.% over the forecast period 2023 to 2030. Sports and fitness apps offer a wide range of services such as exercise and workout tracking, heart rate and calorie monitoring, diet and nutrition tracking etc. Popular sports and fitness apps include apps like MyFitnessPal, Nike Training Club, Runkeeper etc. One of the key drivers for the sports and fitness apps market is growing health awareness among people. Secondly, the pandemic has created a paradigm shift towards virtual connectivity forcing people to switch to online workout classes and video tutorials available through various apps.

Segment Analysis

The sports and fitness apps market is dominated by the exercise and fitness segment, which accounts for over 40% share. This is because people are increasingly using various fitness apps to track their workouts, health statistics, set goals and follow fitness regiments. Apps in this segment allow users to find suitable exercises, follow along with video demonstrations and monitor their calorie intake and burn.

PEST Analysis

Political: There are no significant political factors impacting the sports and fitness apps market.
Economic: The rising health awareness and high disposable incomes are driving users to adopt various digital health solutions including sports and fitness apps for monitoring workouts and achieving fitness goals.
Social: Growing popularity of fitness trends like CrossFit and obsession with health and fitness among millennials is promoting the use of sports and fitness apps for tracking activities.
Technological: Emerging technologies like AI, VR and AR are enhancing the app experience and making workouts more engaging. Cloud computing is enabling platforms to store and analyze vast usage data.

Key Takeaways

The global Sports And Fitness Apps Market Share is expected to witness high growth, exhibiting CAGR of 17% over the forecast period, due to increasing health consciousness among users and rising popularity of athleisure trends.

The North American region dominates the market currently due to high smartphone and internet penetration and tech-savviness of consumers. However, Asia Pacific is expected to witness the fastest growth in the forecast period supported by growing middle class, increasing disposable incomes and emergence of local fitness startups in the region.

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 and Appinventiv. Major players are focusing on partnerships, product innovations and integration of advanced technologies to expand their customer base and strengthen market presence.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it