The global virtual fitness app market is estimated to grow at a CAGR of 223 during the forecast period 20212027 As per the analysis the global fitness app market was valued at USD 343 billion in 2020 and is anticipated to reach USD 1891 billion by 2027 ID: 831719
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Global Virtual Fitness App Market
Slide2The Global Fitness App Market is estimated to grow at a CAGR of 26.2% during the forecast period 2020-2027. As per the analysis, the global virtual fitness app market was valued at $3.15 billion in 2019 and is anticipated to reach $15.96 billion by 2027.
The global virtual fitness app market mainly deals with fitness applications that deliver health services on mobile phones, tablets, and other mobile devices. These apps generally track the sleep pattern, calories burnt, and user activity. The availability of robust internet connectivity across developing and developed economies has enabled fast video streaming, positively impacting the online fitness market revenue. According to Dailywireless.org statistics, as of January 2019, there were around 4.4 billion active internet users, corresponding to 57% of the global population. This has led to increased market adoption of virtual fitness apps and platforms among fitness enthusiasts for a comfortable workout experience at home. Many fitness studios allow users to participate in real-time, download, or stream on-demand content on virtual platforms, surging the market demand
Slide3Rise
in Digitalization driving the market growth
The rise in digitalization along with the trend of connected fitness equipment that enables users to track health parameters, such as pulse rate and calories, will propel the virtual fitness app market expansion. Several companies are introducing virtual classes that allow users to integrate with their smart devices to enhance the fitness experience. For instance, in September 2020, Apple, Inc. unveiled Fitness Plus, a subscription service for online fitness classes, that integrates with iPads, iPhones, Apple TV, and Apple Watch. It allows users to monitor a variety of metrics regarding activities such as running, cycling, swimming, or rowing on their Apple devices. The availability of on-demand and live workout classes with a range of connected equipment enables users to undertake classes on built-in screens of their equipment. The availability of such innovative solutions will drive market growth.
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