February 26, 2024

The Rising Popularity of Mobile Fitness Apps is Driving the Sports and Fitness Apps Market

 

The sports and fitness industry has witnessed tremendous growth in recent years owing to rising health awareness among people and growing preference for non-contact workouts. Mobile fitness apps have made exercise convenient by bringing gym classes and personal trainers to smartphones. Sports and fitness apps offer a variety of workout routines, exercise videos, dietary plans, progress tracking features and social connectivity options. Popular apps provide immersive experiences through motivational coaches, gamification of workouts and healthy competitions among users.

The global sports and fitness apps market is expected to exhibit exponential growth in the coming years. Mobile fitness apps are increasingly being used for bodybuilding, yoga, running, swimming and other recreational sports. They help users make exercise a daily habit and achieve their health goals effectively from any location. The apps also personalize workouts based on users’ abilities and preferences. Virtual personal trainers within apps monitor users’ performance and modify routines accordingly. The integration of advanced technologies like augmented reality, AI and wearable device connectivity is further enhancing the user experience.

The global Sports and Fitness Apps Market is estimated to be valued at US$ 1.53 Bn in 2024 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 key trends:

The rising adoption of wearable fitness devices is a major trend driving the sports and fitness apps market. Integrations allowing data sharing between popular apps and devices like Fitbit, Apple Watch and Garmin trackers are encouraging more users to monitor their activities. Real-time syncing of biometric data makes workouts more effective.

Gamification is another key trend as sports and fitness apps add elements of fun, rewards and social elements to encourage sustained engagement. Scoreboards, badges and leaderboards turn exercise into a competitive experience. Motivational push notifications, reminders and virtual coaching further make apps addictive.

Porter’s Analysis

Threat of new entrants: The sports and fitness apps market has moderate threat from new entrants due to high development costs of developing apps and need to acquire users.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternative apps and integration of fitness features in other apps.

Bargaining power of suppliers: App developers and platform providers have low to moderate bargaining power due to presence of many players.

Threat of new substitutes: Threat from substitutes is moderate due to integration of fitness features in social media and lifestyle apps.

Competitive rivalry: The market has high competitive rivalry due to presence of many global and local players offering similar functions.

Key Takeaways

The global sports and fitness apps market is expected to witness high growth. The global Sports and Fitness Apps Market is estimated to be valued at US$ 1.53 Bn in 2024 and is expected to exhibit a CAGR of 17% over the forecast period 2023 to 2030.

North America currently dominates the market due to high consumer healthcare expenditure and tech-savviness. However, Asia Pacific is expected to grow at the fastest pace due to growing health awareness in countries like India and China. Europe sports and fitness apps market is also projected to grow significantly during the forecast period. The growth can be attributed to rising health consciousness among consumers and increasing adoption of wearable devices in countries like UK, Germany and France.

Key players operating in the sports and fitness apps market include Adidas, Appster, Fitbit, Inc., FitnessKeeper and Azum. Fitbit and Adidas have captured major market share due to their premium offerings and strong brand awareness. Other players are focusing on developing personalized training and analytics features to stay competitive.

*Note:

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