Global Fitness App Market 2016-2020
Outlook of the global fitness app market
Technavio’s market research analyst has estimated that the global market for fitness apps will grow at a profound CAGR of around 31% until the end of 2020. The widespread availability of cost-effective fitness apps will aid in the growth of this market during the forecast period. The rising demand for fitness apps among women is a critical factor that will impel the prospects for growth in this market. Recently, it has been observed that women are becoming more conscious about health and fitness owing to lifestyle changes. Consequently, a large number of women are adopting fitness apps to stay healthy, making them one of the leading adopters of fitness apps in the global fitness app market.
In this market study, analysts have estimated eminent factors, such as the decreasing cost of mobile apps, to spur market growth during the forecast period. Advanced mobile apps with featured enhancements carry a premium price. However, the cost of such apps is likely to decline with its growing demand, and this will increase its rate of installation among the price-sensitive customers. Factors such as the dipping cost of paid mobile apps and an increasing number of free apps are the key trends that will bring about growth in the global market for fitness apps during the estimated period.
Geographical segmentation of the fitness app market
In terms of geography, the Americas dominated the global market for fitness apps during 2015. One of the primary reasons for the growth of the market in this region is the presence of multiple fitness app providers in the Americas. In the Americas, the US is the largest revenue contributing region as the populace in this region continually strives for a healthier lifestyle. The growing adoption of wearable devices such as smartwatches and fitness bands will also aid in the growth of this market in the Americas.
Competitive landscape and key vendors
The global fitness apps market is heavily influenced by a combination of global economic momentum, major sporting events, and a strong focus on health and well-being. This market is highly competitive due to the presence of many big and small players. Technological innovations among leading vendors play a significant role in driving market growth. The competition among market vendors is intense in terms of pricing, portfolio, and user-friendly interface.
Top vendors in this market are -
- Under Armour
Other prominent vendors analyzed in this market study are Adidas, Daily Workouts, Google Fit, Nike, Noom, Polar Electro, Runtastic, Samsung Electronics, Sports Tracking Technologies, and Wahoo Fitness.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global fitness app market?
- What are the key market trends impacting the growth of the global fitness app market?
- What are the challenges to market growth?
- Who are the key vendors in the global fitness app market?
- What are the market opportunities and threats faced by the vendors in the global fitness app market?
- What are the trending factors affecting the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global die grinder market?
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