Industry Background:
Many different kinds of technology have been emerged in the last years to help users keep up with the fitness. Apps have now become the most popular technological tool which people basically use to achieve a fit lifestyle. Fitness apps have been beneficial for people to keep them motivated by offering personalized routines, creating competition among friends and family, and offering things like rewards. The market of the fitness app is growing due to the awareness of the people towards a healthy lifestyle and also there is easy availability of cost-effective applications due to the technological advancements, while a lower number of skilled professionals may hinder the market
According to AMA, the market for Fitness APP is expected to register a CAGR of 23.1% during the forecast period to 2026. This growth is primarily driven by Awareness of the people towards health are increasing, Easy availability of cost-effective apps, Continuously changing lifestyle and Growing dependency on technology and the increasing use of apps.
Globally, a noticeable market trend is evident Rising number of product launches by major player like Nike is also entering the market
. The Health Care Technology sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Motorola Mobility LLC (United States), Grandapps (United States), Fitbit (United States), MyFitnessPal Inc. (United States), Azumio (United States), Under Armour (United States), ASICS (Japan), Appster (Australia), WillowTree, Inc. (United States) and Dom and Tom Tom (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
Fitbit announced today that it has acquired a small, Boston-based software startup called Twine Health for an undisclosed amount
Under Armour has admitted that around 150 million MyFitnessPal user accounts were hacked in February of 2018 year
Market Drivers
- Awareness of the people towards health are increasing
- Easy availability of cost-effective apps
- Continuously changing lifestyle
- Growing dependency on technology and the increasing use of apps
Market Trend
- Rising number of product launches by major player like Nike is also entering the market
- Continuous shift in business model of fitness devices
Restraints
- Lower number of skilled users
- Impersonal characteristics
Opportunities
Growing adoption of smartphones and increasing download of mobile applications and Numerous vendors are entering the fitness market with their advanced fitness apps
Challenges
Easy availability of numerous low-quality apps
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Fitness APP Study Sheds Light on
The Fitness APP Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Fitness APP industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Fitness APP industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.