July 24, 2024

Plant-Based Protein Foods is fastest growing segment fueling the growth of the Sports and Fitness Apps Market

 

Sports and fitness apps provide virtual coaching and training programs to users for various activities like running, cycling, yoga etc. These apps help users track their exercises, monitor their progress and stay motivated through leaderboards and achievements.

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 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends in the sports and fitness apps market is the integration of wearable devices. Many apps now allow syncing of data from devices like smartwatches, fitness trackers etc to provide a more holistic view of users’ activity, diet, sleep and vital stats. This collected data is then analyzed by algorithms within the apps to provide customized workout routines and metrics to drive performance improvements over time. Some apps also share selective data with doctors, physical therapists or nutritionists for a more comprehensive health and wellness support.

Segment Analysis
The global sports and fitness apps market is segmented by type, platform, device and region. Based on type, the market is segmented into workout and exercise apps, disease management, lifestyle management (nutrition & diet, meditation, and sleep tracking), and medication management and monitoring apps. Workout and exercise apps held the largest share of the market in 2023 and the segment is expected to remain dominant over the forecast period. These apps provide customized workout plans according to the users’ fitness goals which is driving their high demand.

Key players
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. Fitbit dominated the market in 2023 owing to its wide range of smartwatches and fitness trackers integrated with apps. However, other players are focusing on product innovations to gain market share.

Regional analysis
North America dominated the global sports and fitness apps market in 2023 and is expected to maintain its dominance over the forecast period. Growing awareness regarding health benefits and rising obese population are stimulating the adoption of sports and fitness apps in the region.

Key Takeaways
The global Sports and Fitness Apps Market is expected to witness high growth, exhibiting a CAGR of 17% over the forecast period, due to increasing health consciousness among people and growing adoption of smart devices.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it