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Fitness App Market 2021 Segmentation along with Regional Outlook, Competitive Strategies, Factors Contributing to Growth | Google LLC, Samsung Electronics, TomTom International BV

Fitness App Market

Global Fitness App Market is expected to register at a CAGR of 31.25% during the forecast period, 2020–2027.

The Fitness App Market research report thoroughly explains each and every aspect related to the Global Fitness App Market, which facilitates the report’s reader to study and evaluate the upcoming market trend and execute the analytical data to promote the business.

A large-scale Fitness App Market document offers an all-inclusive study about production capacity, consumption, import, and export for all the major regions across the world. Furthermore, the statistical and numerical data such as facts and figures are represented very neatly in the report by using charts, tables, or graphs. This market report also involves strategic profiling of the major players in the market, comprehensive analysis of their basic competencies, and thereby keeping the competitive landscape of the market in front of the client. The winning Fitness App report covers all the market shares and approaches of the major competitors or the key players in the market.

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Scroll down 100s of data Tables, charts and graphs spread through Pages and in-depth Table of Content on “Fitness App Market, By Function (Activity Tracking, Diet and Nutrition, Workout or Exercise), Type (Altruistic Fitness Apps, Competitive Fitness Apps, Fitness-Tracking Apps, Social Fitness Apps, Workout Fitness Apps), Platform (Android, iOS), Device (Smartphones, Tablets, Wearable Devices) and Geography – Global Forecast to 2026”. Early buyers will get 10% customization on study.

To Avail deep insights of Fitness App Market Size, competition landscape is provided i.e. Revenue Analysis (M $US) by Company (2018-2020), Segment Revenue Market Share (%) by Players (2018-2020) and further a qualitative analysis is made towards market concentration rate, product/service differences, new entrants and the technological trends in future.

Unlock new opportunities in Fitness App Market; the latest release from MarketDigits highlights the key market trends significant to the growth prospects, Let us know if any specific players or list of players needs to consider to gain better insights.

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Global Fitness App Market is expected to register at a CAGR of 31.25% during the forecast period, 2020–2027.

A fitness app is a software application that can be downloaded on any mobile device, such as a smartphone or a tablet. These apps are designed specifically to assist users with exercise and other types of physical training, nutrition and diet, health tracking, or any other related fitness topics.

The market is driven by the increased use of mobile applications, rising adoption of sports and fitness applications for monitoring activities and heart rates, and the growing demand for wearable fitness devices. Smartphones have become an essential aspect of a human’s social security and physiological wellbeing. A mobile application is a software application that is designed to run on mobile devices, such as smartphones, wearable devices, and tablet computers.

Such applications have emerged due to the convergence of media, the Internet, and advanced technologies. In recent years, people have changed the way of managing important elements of their life, including health by using various health and fitness applications on their mobiles. Mobile health apps are referred to as mHealth apps that operate on Android, Windows, and iPhone operating systems (iOS) There are thousands of health and fitness apps available for download on Google Play, some of them are RockMyRun, MyFitnessPal, Kidfit, and FitWell.

Nowadays, due to busy schedules, evolving health and fitness measures, and the ease of use, fitness apps can be downloaded and used either for a few dollars or for free. Such apps offer health benefits as they enable users to stay fit by maintaining their weight and guiding them through exercises as per their comfort and convenience. They also help users benefit from the range of diet plans to suit their body types. Hence, an increase in the use of mobile applications has led to a rise in the adoption of various fitness apps for maintaining a healthy lifestyle. However, the high cost of fitness app and tracker development is expected to hamper the market growth. The digitalization of the healthcare industry in developing countries creates growth opportunities for the global fitness app market during the forecast period.

Source: MarketDigits Analysis

The Fitness App Market, by region, has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America held the largest share of the market in 2019, with a market value of USD 16.82 billion; the regional market is expected to register a CAGR of 28.35% during the forecast period. The growth of the fitness app market in the region can be attributed to the growing demand for wearable devices such as smart bands, smartwatches, and smart rings, the increasing awareness regarding the health conciseness, and the rising penetration of smartphones.

Asia-Pacific is expected to register the highest CAGR of 33.46% during the forecast period. The growing consumer demand for a healthier lifestyle and the continuous growing interest in a balanced diet and the demand for improved healthcare across countries in the region is expected to make Asia-pacific the fastest-growing region in the market. Furthermore, the increased personal per capita disposable income is also driving the fitness app market growth in Asia-Pacific.

Companies Covered

The Key Players in the Global Fitness App Market are Google LLC (US), Samsung Electronics Co., Ltd (South Korea), TomTom International BV (The Netherlands), Lenovo Group Limited (China), Nike, Inc. (US), Adidas AG (Germany), Under Armour, Inc. (US), Wahoo Fitness (US), Azumio Inc. (US), Asics Corporation (Japan), and Grand Apps (US).

According to MarketDigits analysis, Google LLC is currently leading the global fitness app market in terms of market share. Google Fit by Google enables its users to track workout routines in real-time. The company is innovating its product offerings to serve a wide application area and consumer base. It has worked with the WHO to develop activity goals named Move Minutes and Heart Points, which are based on physical activity recommendations shown to impact health.

Furthermore, the company is also focused on strategic mergers and acquisitions, which broadens its product portfolio to serve a wide application area and consumer base. For instance, in 2019, Google acquired Fitbit, which helps the company strengthen its position in the fitness wearables and fitness app market. The company also emphasizes building and strengthening its relationship with channel partners, which enhances its distribution capabilities to boost its consumer base. Furthermore, its strong geographical footprint helps the company strengthen its position in the fitness app market.

Key Developments

  • In May 2019, Lenovo launched the Lenovo EGO, the first budget smartwatch in India. The smartwatch offers real-time heart rate monitoring and sleep tracking. For fitness, it helps in tracking steps, distance covered, calories burned, and other exercises such as cycling, running and swimming.
  • In February 2019, Samsung Electronics launched three new wearables, which include Galaxy Watch Active, Galaxy Fit, and Galaxy Buds, to provide a balanced and connected living to its users. Galaxy Watch Active includes features such as blood pressure monitoring and fitness tracking, among others, to provide improved fitness and wellbeing to its users.
  • In September 2018, Samsung Electronics launched new updates to its Samsung Health application to offer interactive and personalized health and wellness experience to the users. The new version of the application includes updated health and fitness tools, a new UI, and increased personalization.

Market Segmentation

  • By Type– Workout and Exercise Apps, Disease Management, Lifestyle Management {Sleep Tracker and Period & Ovulation Tracking}, Nutrition & Diet, Medication Adherence, and Others {Meditation and Brain Training Apps}
  • By Platform– Android, iOS, and Windows
  • By Device Type– Smartphones, Tablets, and Wearable Devices

What Porter’s Five Forces of Competitive Analysis Provides?

Competitive rivalry:- The main driver is the number and capability of competitors in the market. Many competitors, offering undifferentiated products and services, will reduce market attractiveness.

Threat of substitution:-  Where close substitute products exist in a market, it increases the likelihood of customers switching to alternatives in response to price increases. This reduces both the power of suppliers and the attractiveness of the market.

Threat of new entry:- Profitable markets attract new entrants, which erodes profitability. Unless incumbents have strong and durable barriers to entry, for example, patents, economies of scale, capital requirements or government policies, then profitability will decline to a competitive rate.

Supplier power:- An assessment of how easy it is for suppliers to drive up prices. This is driven by the: number of suppliers of each essential input; uniqueness of their product or service; relative size and strength of the supplier; and cost of switching from one supplier to another.

Buyer power:- An assessment of how easy it is for buyers to drive prices down. This is driven by the: number of buyers in the market; importance of each individual buyer to the organisation; and cost to the buyer of switching from one supplier to another. If a business has just a few powerful buyers, they are often able to dictate terms.

Five forces analysis helps organizations to understand the factors affecting profitability in a specific industry, and can help to inform decisions relating to: whether to enter a specific industry; whether to increase capacity in a specific industry; and developing competitive strategies.

The country section of the report also provides individual market impacting factors & changes in regulation in the market domestically that impacts the current & future trends of the market. Data points such as consumption volumes, production sites & volumes, import export analysis, price trend analysis, cost of raw materials, down-stream & upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence & availability of global brands & their challenges faced due to large or scarce competition from local & domestic brands, impact of domestic tariffs & trade routes are considered while providing forecast analysis of the country data.

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