The onset of the pandemic has shown a gruelling usage of fitness apps. As people were stuck in their homes due to the lockdowns, fitness has become a rising concern for many, making a steep rise in the usage of fitness apps. Virtual workouts have taken the place of all outdoor activities that people were doing before the pandemic. The new normal has shown the new way of getting fit and fitness apps went synonymous with that.
Well, on the other hand, we can’t resonate with the pandemic for the rising usage of the fitness apps, as they were already on the rise before 2020’s pandemic skyrocketed the entire industry’s revenue numbers even more. The industry is well-placed to build on this momentum, as projections show sustained growth in the coming years. According to data presented by TradingPlatforms.com, global revenue from fitness apps is projected to experience a 34.4% growth in 2021 and reach $13.54B.
Awareness around health and fitness has grown tremendously in the last couple of decades with more and more people choosing to live a fit and active lifestyle. This has led to significant growth across the entire fitness industry and led to the emergence of the fitness app segment. In more recent times, fitness apps are one of the fastest-growing and most competitive categories in the app market.
In the year 2021, worldwide revenue from fitness apps is projected to reach $13.54B after growing by over 34% from 2020. From 2021-2025, revenue is expected to grow at a compound annual growth rate (CAGR) of 20.36%, reaching $28.42B by the end of the forecast period.
It has been observed that China generated the largest revenue from fitness apps in 2020, amounting to $10.1B while India had the second-largest with $6.07B. Only the United States and Indonesia recorded revenues from fitness apps worth more than $1B with $4.75B and $1.37B respectively.
In a comment, Rex Pascual, editor at TradingPlatforms.com, said, “The fitness industry as a whole has enjoyed sustained growth over the past couple of decades and fitness apps is one of the fastest-growing segments to come out of it. 2020’s pandemic only accelerated the fitness app segment’s growth and will serve as a great foundation for its projected 20% CAGR.”
The number of fitness app users is projected to cross the half a billion user mark sometime in 2021, even reaching just over 600M by the end of the year. A total of 61.5% of users are free fitness app users which amounted to 369.61M users while the remaining 38.5% are paid fitness app users which amounted to 231.83M users. Both free fitness app users and paid app users are set to cross important milestones themselves in 2021 when they are projected to cross the 300M and 200M user mark respectively.
Disclaimer:
The information contained in this article is for educational and informational purposes only and is not intended as a health advice. We would ask you to consult a qualified professional or medical expert to gain additional knowledge before you choose to consume any product or perform any exercise.
