The global Sports And Fitness Apps Market is estimated to be valued at US$ 1.53 Bn 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 applications are mobile applications that help users track their workouts, monitor vital health statistics, learn proper exercise form and technique and find suitable workout programs. These applications provide an easy and affordable way for users to improve and monitor their health and fitness anytime and anywhere.
Market key trends:
The increasing popularity of wearable fitness devices integrated with mobile applications is a major trend driving the growth of the sports and fitness apps market. Many wearable bands and smartwatches now have in-built fitness apps that can track an individual’s activity, calories burned, heart rate etc. and sync the data to their smartphone. This allows users to monitor their health stats on the go and also stay connected to their fitness routine and programs even without having their phone around. The connectivity between wearable devices and mobile apps has made tracking fitness simple and effortless, promoting enhanced adoption of sports and fitness applications.
Market key trends:
The sports and fitness apps market has seen immense growth in the number of downloads and users over the past few years. One of the key trends driving this growth has been the increasing popularity of wearable devices that can track fitness metrics and connect with various exercise and health apps. Many popular smartwatches and fitness bands now come pre-installed with apps that can count steps, measure heart rate, track workouts and link with other services. This has made tracking fitness more convenient for users and boosted app usage.
SWOT Analysis
Strengths: The large and growing user base of smart devices provides a big potential market for sports and fitness apps. Existing apps from major brands also have strong customer loyalty.
Weaknesses: Developing high quality, engaging apps require substantial investment which small players may lack. Technical issues and bugs can impact user experience negatively.
Opportunities: Integration of AR/VR and other new technologies can enhance workout experiences. Further expansion in developing countries offers a large untapped market.
Threats: Intense competition from other apps and wearable manufacturers. Customers may switch to newer alternatives quickly. Rising customer expectations pose challenges to sustained innovation.
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 popularity of smart wearable devices that can integrate with various fitness apps.
North America captured the largest share of the global sports and fitness market in 2023 owing to high consumer health awareness and growing obesity issues in the region. However, Asia Pacific is expected to grow at the fastest pace during the forecast period, due to rising health consciousness and increasing disposable income in developing countries such as China and India.
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, Appinventiv. Major players are focusing on adding new features like augmented reality workouts, personalized training programs and syncing data across devices to gain more users.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it