Sports and Fitness Apps Market to Reach US$ 17,436.4 Million by 2027

Published On : Jul 10, 2019

The global sports and fitness apps market was valued at US$ 2,700.0 million in 2017, and is projected to reach US$ 17,436.4 million by 2027, exhibiting a CAGR of 20.4% over the forecast period (2019-2027), according to Global Sports and Fitness Apps Market Report, by Application (Health Monitoring and Activity Tracking & Monitoring), by Platform Type (iOS, Android, and Windows), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa), published by Coherent Market Insights.

Major factors for growth of the global sports and fitness apps market are increase in adoption of wearable devices among individuals such as fitness trackers, smartwatch and other devices that assist in activity tracking and monitoring. Moreover, increase in smartphone and internet penetration are factors boosting growth of the global sports and fitness apps market. Furthermore, rising occurrence of health disorders such as diabetes, heart disease, obesity, and depression, has led to increasing health awareness among the population regarding health and fitness, which in turn, is driving growth of the global sports and fitness apps market. However, lack of proper integration of apps with wearable devices can have a negative impact on growth of the global sports and fitness apps market.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/sports-and-fitness-apps-market-2817

Browse 60 market data tables* and 40 figures* on "Global Sports and Fitness Apps Market” - Global forecast to 2027

Key Trends and Analysis of the Global Sports and Fitness Apps Market:

  • One major trend in the global sports and fitness apps market is increase in number of product launches by key players. The sports and fitness apps market is highly competitive as there is presence of several local and international players that are competing in the market. Sportswear and equipment manufacturers such as Adidas and Nike are also entering the global sports and fitness apps market, owing to increasing demand for fitness apps. For instance, in August 2017, Azumio Inc. released a new version of its Calorie Mama AI app called ‘Calorie Mama AI: DNA Weight Loss Assistant’, which allows users to make well-informed fitness and nutrition decisions based on genetic predispositions such as potential food intolerances and injury risk factors.
  • The activity tracking and monitoring segment is expected to show attractive growth in the global sports and fitness apps market, owing to increase in activity monitoring such as workout and other exercises among individuals in health clubs and gyms. Activity tracking apps can note users’ physical activity throughout the day and collect users’ information about the number of steps taken, hours slept, stairs climbed, distance and speed of run, and calories burned. For instance, Google Fit manages data about body measurement, number of steps travelled, calories burned, and favorite type of activity/sports, exercise duration, and heartbeat rate.

Key Takeaways of the Market:

  • According to Coherent Market Insights’ research, North America lead the global sports and fitness apps market, owing to presence of number of fitness apps developers and rise in health awareness among population in the region. Furthermore, most of the health conscious individuals use wearable devices to monitor their health. Hence, increasing adoption of wearable devices such as smart watches for fitness tracking is propelling growth of the global sports and fitness apps market in North America. Companies such as Fitbit Inc., Apple Inc. and Garmin Ltd. offer sports and fitness apps for mobiles and wearable devices. For instance, Fitbit Inc. offers wearables such as watches, trackers, and other products with sports and fitness apps.
  • According to Coherent Market Insights’ research, Asia Pacific is expected to account as a major contributor in global sports and fitness apps market over the forecast period, owing to increase in smartphone penetration among individuals in emerging economies in the region. Moreover, increasing use of internet and wearable devices in countries such as India and China is driving growth of the global sports and fitness apps market in Asia Pacific region. India and China are countries with a significant number of young-adult population, which has led to an increase in demand for wearable devices, and sports and fitness apps in the region. For instance, according to Youth in India (2017), Central Statistics Office Ministry of Statistics and Program Implementation Government of India (Social Statistics Division), by 2020, individuals between the ages 15-34 years are supposed to comprise 34.46% of the total population in India.
  • Some of the major players operating in the global sports and fitness apps market include ASICS Digital, Inc. (The ASICS Run keeper), Azumio Inc., Fitbit, Inc., Freeletics, Garmin Ltd., Jefit, Inc., Nike, Inc., Runtastic GmbH, Polar Electro, Under Armor, Inc., Wahoo Fitness, and others.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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