GLOBAL FITNESS APP MARKET (2023 - 2030)
Global Fitness App Market was estimated to be worth USD 21.29 Billion in 2023 and is projected to reach a value of USD 121.32 Billion by 2030, growing at a CAGR of 24.3% during the forecast period 2023-2030.
The outbreak of the COVID-19 pandemic substantially impacted the global fitness app market. The implementation of strict lockdowns, traveling restrictions, and social distancing measures across several nations hindered many companies' manufacturing capacities and caused a shortage of skilled workforce. The pandemic caused disruptions in supply chains and distribution of goods and services, which highly affected the deployment of fitness applications on smartphones and wearable devices. These factors negatively impacted the growth of the global fitness app market. However, the pandemic led to individuals becoming more health-conscious owing to the protection from COVID-19 disease, which resulted in increased adoption of fitness applications related to exercise and weight loss, activity tracking, and nutrition in their daily routines. These factors positively impacted the market's growth. Therefore, the global fitness app market experienced both challenges and opportunities during the difficult time of the COVID-19 pandemic.
The rising emphasis on maintaining a healthy lifestyle is propelling the growth of the global fitness app market. With the easy availability and high convenience of using smartphones and wearable devices, numerous individuals have started to adopt fitness apps in their everyday routine to do exercise, such as cardiovascular training, resistance training, high-intensity training, etc., maintain a close eye on their diet, and monitor their health progression, in order to stay healthy and energetic. Hence, this factor drives the demand for fitness applications. The increasing prevalence of chronic diseases is another factor contributing to the growth of the global fitness app market. The incidence of chronic illnesses, including diabetes, high blood pressure, obesity, cardiovascular diseases, etc., is rising at a fast rate owing to stressful routines, poor diet, and minimal physical activity. Fitness apps act as a means for individuals to stay healthy and fit and prevent the onset of these diseases. Therefore, this factor also drives the demand for fitness apps.
The global fitness app market is encountering challenges, primarily in terms of a lack of technological awareness among the geriatric population and the cost associated with in-app purchases. The elderly population may not be as familiar with technology as the younger population or may be hesitant to adopt new technologies, which can restrict the use of fitness applications. Moreover, top fitness apps that provide subscription-based personalized workouts, diet charts, and personal coaching, can be costly to individuals with lower incomes. Thus, these challenges inhibit the growth of the global fitness app market.
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