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Global Fitness App Market | Increasing Demand for Wearable Devices to Boost the Market Growth | Technavio

LONDON--(BUSINESS WIRE)--Oct 27, 2020--

The global fitness app market size is poised to grow by USD 1.68 billion during 2020-2024, progressing at a CAGR of almost 12% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

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Technavio has announced its latest market research report titled Global Fitness App Market 2020-2024 (Graphic: Business Wire)

The market is witnessing an increase in the demand for wearable devices such as smartwatches, smart bands, and smart rings that have various features such as calling, messaging, and fitness tracking. These devices can be integrated with fitness apps to provide information on heart rate, exercise cognition, and issue movement reminders. To capitalize on the growing popularity of wearable devices, vendors are expanding their product portfolios by launching products equipped with advanced features such as LTE, music storage, built-in GPS, etc. Some vendors are also offering low-cost wearable products that are specifically designed for children. These factors are increasing the adoption of wearable devices, which in turn will positively influence the fitness app market.

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Report Highlights:

  • The major fitness app market growth came from the lifestyle monitoring segment in 2019.
  • APAC was the largest fitness apps market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to the proliferation of a variety of fitness apps.
  • The global fitness app market is fragmented. adidas AG, ASICS Digital Inc., Azumio Inc., BetterME., FitNow Inc., Google LLC, Nike Inc., Samsung Electronics Co. Ltd., Under Armour Inc., and YAZIO GmbH. are some of the major market participants. To help clients improve their market position, this fitness app market forecast report provides a detailed analysis of the market leaders.
  • As the business impact of COVID-19 spreads, the global fitness app market 2020-2024 is expected to have positive growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

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Proliferation of a Variety of Fitness Apps will be a Key Market Trend

Vendors in the market are introducing various fitness apps for different purposes, workout routines, and exercises. For instance, some vendors are introducing fitness apps specifically for pregnant women, different age groups and gender. These apps enable customers to monitor their health and fitness by analyzing their calorie intake and provide guidance about proper nutrition to help them stay healthy and fit. The launch of such new and advanced fitness apps is enabling vendors to increase their market share and profitability. Therefore, the proliferation of different types of fitness apps is expected to boost the growth of the market during the forecast period.

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Fitness App Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist fitness app market growth during the next five years
  • Estimation of the fitness app market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the fitness app market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of fitness app market vendors

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View market snapshot before purchasing

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis
  • Value Chain Analysis

PART 04: MARKET SIZING

  • Market definition
  • Market outlook
  • Market sizing 2019
  • Market size and forecast 2019-2024

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

PART 06: MARKET SEGMENTATION BY APPLICATION

  • Market segmentation by application
  • Comparison by application
  • Lifestyle monitoring - Market size and forecast 2019-2024
  • Health monitoring - Market size and forecast 2019-2024
  • Others - Market size and forecast 2019-2024
  • Market opportunity by application

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2019-2024
  • North America - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity

PART 09: MARKET SEGMENTATION BY GENDER

  • Market segmentation by gender
  • Comparison by gender
  • Female - Market size and forecast 2019-2024
  • Male - Market size and forecast 2019-2024
  • Market opportunity by gender

PART 10: DECISION FRAMEWORK

PART 11: DRIVERS AND CHALLENGES

  • Market drivers
  • Market challenges

PART 12: MARKET TRENDS

  • Increasing number of M&A
  • Rising investments
  • Proliferation of fitness apps

PART 13: VENDOR LANDSCAPE

  • Overview
  • Landscape disruption
  • Competitive scenario

PART 14: VENDOR ANALYSIS

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • adidas AG
  • ASICS Digital Inc.
  • Azumio Inc.
  • BetterME.
  • FitNow Inc.
  • Google LLC
  • Nike Inc.
  • Samsung Electronics Co. Ltd.
  • Under Armour Inc.
  • YAZIO GmbH

PART 15: APPENDIX

  • Research methodology
  • List of abbreviations
  • Definition of market positioning of vendors

PART 16: EXPLORE TECHNAVIO

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com:https://www.businesswire.com/news/home/20201027005531/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:[email protected]

Website:www.technavio.com/

KEYWORD:

INDUSTRY KEYWORD: SOFTWARE SPORTS GENERAL HEALTH HEALTH CONSUMER ELECTRONICS TECHNOLOGY FITNESS & NUTRITION MOBILE/WIRELESS

SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 10/27/2020 08:30 AM/DISC: 10/27/2020 08:31 AM

http://www.businesswire.com/news/home/20201027005531/en

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