Sports And Fitness Apps Market Estimated To Witness High Growth Owing To Rising Health Awareness And Increasing Internet Penetration
The Sports and fitness apps market is estimated to be valued at US$ 9.02 Bn in 2024, exhibiting a CAGR of 14.2% over the forecast period (2024-2031). The growing awareness about health and fitness along with an increasing number of health clubs and gyms are fueling the demand for sports and fitness apps. Furthermore, better access to smartphones and internet is also supporting the growth of the sports and fitness apps market.
Market Dynamics:
The global sports and fitness apps market is primarily driven by the rising health awareness among consumers and growing internet penetration. With the growing prevalence of obesity and lifestyle diseases, people are becoming more conscious about their health and fitness. Sports and fitness apps help users monitor their daily activities, track calories burned, and other fitness metrics easily. Furthermore, the widespread availability of smartphones and lower data charges have enhanced internet accessibility. This has increased the adoption of various sports and fitness apps for workout routines, diet tracking, and others. Advanced features of these apps such as push notifications, syncing with external devices, and social features for competition and motivation are further propelling their popularity. The growing digitization in the healthcare industry is also expected to support the market growth during the forecast period.
Major Market Driver: Growing Popularity of Fitness Tracking among Consumers
One of the major drivers for the growth of the global sports and fitness apps market is the growing popularity of fitness tracking among consumers across the world. With busy lifestyles and increasing health concerns, people are becoming more conscious about their fitness levels and health. Sports and fitness apps allow users to easily track their daily activities like steps, distance covered, calories burned etc. using their smartphones. Some apps also integrate with wearable devices like smartwatches to get more accurate activity and sleep tracking. This focus on self-monitoring and quantifying daily activities through apps is encouraging more people to adopt a healthy lifestyle. As the health benefits of tracking fitness are widely acknowledged, the demand for feature-rich sports and fitness apps is on the rise.
Major Market Driver: Increased Availability of Customized Workout and Training Plans
Another key driver is the availability of customized workout and training plans offered by various sports and fitness apps. Earlier, people had limited access to personalized workout routines and exercises based on their fitness goals, skill levels, etc. But now, most popular apps study users’ profiles and activity history to recommend tailored workout schedules, exercises, meal plans and more. They also allow users to select specific fitness goals like weight loss, muscle building, yoga etc. and provide plan accordingly. This personalization is highly valuable for users and keeps them engaged with the apps. Whether a beginner or professional athlete, anyone can find suitable customized training on sports and fitness apps as per their needs. The option to get personal guidance virtually is fueling the market growth.
Major Market Restraint: Lack of Proper Guidance and Coaching
One major challenge in the global sports and fitness apps market is the lack of proper physical guidance and coaching. While the apps offer virtual personalized plans, exercises and tutorials, they cannot replace an actual trainer or coach who can correct posture, form and technique in real-time. Doing exercises incorrectly without adjustments can lead to injuries or limit gains. Most app users self-monitor their progress without expert supervision. This poses the risk of developing bad habits or hitting a plateau in results. The absence of a human element doesn’t meet the training needs of some users who want tailored one-on-one feedback during their workout routines. Unless apps integrate advanced AR/VR to provide real-feel coaching, this restraint will continue to impact their overall effectiveness for users.
Major Market Restraint: Concerns Around Data Privacy and Security
Data privacy and security concerns act as another major restraint. Sports and fitness apps collect a huge amount of personal data like location, physical activity levels, biometric readings, health conditions, etc. from users on a daily basis. This sensitive data if breached can expose users to identity theft and health-related frauds. Many users remain wary of sharing extensive personal information with such apps due to the lack of trust in data management policies. High-profile data breaches involving major sports and fitness apps have only aggravated privacy worries. To gain users' confidence, companies must ensure stringent security protocols, transparent data policies and adhere to government regulations for handling consumer data. Unless proper security safeguards are implemented, unresolved privacy issues will restrain the market expansion capabilities.
Major Market Opportunity: Integration with Wearable Devices
The increasing popularity of smart wearable devices like smartwatches, wristbands, headphones, etc. presents a big opportunity for sports and fitness apps market. Many users already own compatible wearables that can seamlessly sync data with sports tracking mobile apps. By optimizing integrations, apps can access real-time biometric data from devices for precise activity and health monitoring. This removes the hassle of manual data entry and improves the overall user experience. The apps can also leverage wearables' in-built sensors, mics and more to offer innovative coaching, assistant and AR/VR experiences. Seamless third-party integration of popular wearables provides an opportunity to gain more active users and cement their positions as essential training and tracking partners in users' daily routines.
Major Market Opportunity: Augmented and Virtual Reality Capabilities
Augmented reality (AR) and virtual reality (VR) present a huge growth opportunity for the sports and fitness apps market. Using AR/VR capabilities, the apps can simulate real-life training environments and coach users in interactive 3D spaces. For example, apps can project virtual opponents in tennis or opponents teams through AR overlays as part of training. VR features can transport users to virtual yoga studios or outdoor trails for exercising. Such immersive experiences motivate users to stick to their goals. AR functions like form correction, 3D anatomy modelling and spatial guidance during exercises can further improve coaching effectiveness.
Link: https://www.coherentmarketinsights.com/market-insight/sports-and-fitness-apps-market-2817
Key Development:
- In June 2023, ASICS Corporation announced that its investment subsidiary, ASICS Ventures Corporation, has invested in Valkyrie Industries Limited, a fast-growing tech startup that has developed innovative technology. This includes a hardware and software platform aimed at delivering immersive, muscle-based haptic experiences in sports and fitness applications.
- In November 2022, Headspace Health, a leading provider of digital mental health solutions, unveiled a groundbreaking new product that seamlessly integrates Ginger's premier coaching, psychiatry, and therapy services with Headspace's renowned meditation and mindfulness content.
- In June 2022, Flo Health, the period and ovulation tracking app, launched Flo for Business - a comprehensive corporate wellness solution designed to educate and empower employees across 20 languages and 245 countries. This new offering provides employees with science-backed content, personalized health insights, and a supportive community to better understand and manage their menstrual cycles, fertility, and overall reproductive health.
- In November 2021, Chennaiyin FC, an Indian Super League (ISL) football club, announced a renewed partnership with Fitbit, the prominent fitness tracking brand, for the 2021-22 ISL season. As part of this collaboration, Chennaiyin FC players will utilize Fitbit devices, such as the Fitbit Charge 5, to monitor key health metrics like oxygen levels, heart rate variability, and sleep patterns. The data collected from these Fitbit wearables will enable the team's coaching staff to optimize the players' training regimens and recovery, ultimately enhancing their on-field performance throughout the season.
Key Players:
Adidas AG, Appster, Azumio Inc., Fitbit Inc., FitnessKeeper (RunKeeper), Fooducate, Google LLC, JEFIT Workout Tracker, Kayla Itsines, MyFitnessPal Inc., Nike, Inc., Noom Inc., Polar Electro, Sworkit, and Under Armour, Inc.
