Market Synopsis
As per the research by Market Research Future Reports (MRFR), the Global Fitness App Market is estimated to record a CAGR of 31.25% during the review period from 2019 to 2026. Increased use of mobile applications is the primary reason driving the global fitness app market 2020. Apps like these have come into existence due to the intersection of the internet, media, and the latest technologies. The market is majorly influenced by the increasing inclination towards sports and fitness applications for regulating activities and heart rates, and the increasing demand for wearable fitness equipment. The digitalization of the healthcare sector in developing nations presents opportunities for expansion for the worldwide fitness app market during the review period. A rise in the usage of mobile applications has resulted in a growth in the adoption of several fitness apps to adapt to a healthy lifestyle. However, the tracker development and expensive cost of the fitness app is estimated to obstruct the market growth.
Due to the sudden outbreak of novel coronavirus, there has been an immense change in the market dynamics. Several regions have been affected due to the pandemic. We will provide COVID-19 impact analysis with the report.
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Key Players
The forefront players of the global Fitness App Market are Asics Corporation (Japan), Samsung Electronics Co., Ltd (South Korea), Google LLC (US), TomTom International BV (The Netherlands), Nike, Inc. (the US), Lenovo Group Limited (China), Adidas AG (Germany), Wahoo Fitness (US), Under Armour, Inc. (US), Azumio Inc. (US), and Grand Apps (US).
Market Segmentation
The Global Fitness App Market can be segregated on the basis of platform, deployment, type, and region.
On the basis of the platform, the global fitness app market can be segregated into smartphones, Wearable Devices, and Tablets.
On the basis of deployment, the global fitness app market can be segregated into Windows, Android, and Ios.
On the basis of type, the global fitness app market can be segregated into Activity tracking apps, Workout and exercise apps, and Nutrition Apps.
On the basis of region, the global fitness app market can be segregated into Asia Pacific, North America, Europe, and the Rest of the World (RoW).
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Regional Analysis
The geographical analysis of Asia Pacific, North America, Europe, and the Rest of the World (RoW) has been conducted. As per the analysis, the North American region dominates the global market. North America also acquired the largest market share in 2019, with a market value of approximately USD 16.82 billion. As per the analysis, the regional market is estimated to record a CAGR of 28.35% during the review period. The increasing demand for wearable devices such as smart rings, smartwatches, and smart bands is a primary reason for market expansion in the region. Besides, the increasing inclination of people towards being fit and healthy and the growing penetration of smartphones is another significant reason for market expansion.
on the other hand, the Asia-Pacific region is estimated to record the highest CAGR of 33.46% during the forecast period. The increasing inclination towards living a healthy life has played a major role in expanding the market in the region. Besides, the demand for better healthcare across the countries in the region is another factor that is likely to expand the APAC market and will make the APAC region as the fastest-growing region in the market. In addition to it, the increased disposable income is another reason which is driving the fitness app market in the APAC region.
However, due to the outbreak of pandemic coronavirus, several regions have been affected. The dynamics of the market are changed significantly.
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