According to a new report Global Fitness App Market, published by KBV research, The Global Fitness App Market size is expected to reach $10.5 billion by 2026, rising at a market growth of 26.5% CAGR during the forecast period.
The exercise and weight loss segment garnered the maximum revenue share. This is due to the rising cases of obesity. According to the World Health Organization, obesity cases increased to three times between 1975 and 2016. As per an article published by the Global Burden of Disease in 2017, 8% of the world’s population died because of obesity. In addition, growing awareness about the health impacts of obesity, including cardiovascular diseases, cancer, and diabetes, would support the growth of the segment. The activity tracking segment would exhibit the largest growth rate during the forecast period. This is due to the increasing demand for wearable health-tracking devices and the introduction of new activity tracking devices.
The wearable devices segment would display a prominent growth rate throughout the forecast period. The demand for wearables would be increased by the increasing consumer health awareness and rising occurrences of lifestyle diseases, like obesity and diabetes. Wearable devices provide functionalities like wireless connection, long battery life, and mobile phone integration. Organizations are launching wearable devices for monitoring and maintaining health and wellness, which, as a result, is propelling the segment.
North America is among the top region in the market in 2019. The Asia Pacific would emerge as the most promising region of the global fitness app market over the forecast years. The regional market would be propelled by the increasing smartphone penetration, growing health consciousness, and a surge in the penetration of fitness apps. In addition, during the COVID-19 pandemic, the region witnessed a major increment in downloads of fitness apps.
Full Report: https://www.kbvresearch.com/fitness-app-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Samsung Electronics Co., Ltd. (Samsung Group), Google, Inc., Adidas AG, TomTom N.V., Lenovo Group Limited, Nike, Inc., Under Armour, Inc., Azumio, Inc., WillowTree, LLC, and Grandapps LLP.
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