Fitness App Market Size, Share & Trends Analysis Report By Type (Exercise & Weight Loss, Diet & Nutrition, Activity Tracking), By Platform (Android, iOS, Others), By Device (Smartphones, Tablets), By Region, And Segment Forecasts, 2024 - 2030

Research Methodology

A three-pronged approach was followed for deducing the fitness app market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for fitness app market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of fitness app market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Fitness App Market Categorization:

The fitness app market was categorized into four segments, namely type (Exercise & Weight Loss, Diet & Nutrition, Activity Tracking), platform (Android, iOS), device (Smartphones, Tablets, Wearable Devices), and region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).

Segment Market Methodology:

The fitness app market was segmented into type, platform, device, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The fitness app market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; the UK; Germany; France; Spain; Italy; Norway; Denmark; Sweden; Japan; China; Australia; India; South Korea; Thailand; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Kuwait.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Fitness app market companies & financials:

The fitness app market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• ADIDAS - Adidas, a renowned sportswear manufacturer, is a global leader in designing and producing clothing, shoes, and accessories. The company's extensive and diverse portfolio spans major global sports, regional grassroots events, and local sneaker culture, encompassing both Sport Inspired and Sport Performance categories. This versatility has propelled Adidas to transcend cultural boundaries, establishing itself as one of the most credible, recognized, and iconic brands on and off the sports field. In a strategic move, Adidas acquired Runtastic for USD 240.0 million in August 2015, enhancing its presence in the fitness and digital health sector. However, signaling a shift in focus, in October 2020, Adidas revealed plans to divest and sell Reebok. The company announced its intentions to report Reebok as a discontinued operation starting from the first quarter of 2021, highlighting Adidas's commitment to refining its brand portfolio and strategic direction.

• APPSTER (OUT OF BUSINESS) - Appster, a prominent app development company, gained recognition for its creation of web, mobile, and wearable apps catering to public figures, startups, and enterprises. Boasting substantial growth with a revenue surpassing USD 20 million and a workforce of 400 employees, Appster earned the label of the "next Apple" according to analysts. However, in November 2018, the company opted for liquidation, citing reasons such as unsuccessful projects and a notable downturn in business over the preceding six months.

• ASICS CORPORATION - ASICS Corporation offers sports equipment designed for a wide range of sports. The products manufactured as well as marketed by the company include footwear (sandals, sneakers), clothing (t-shirts, hoodies, jackets, pants, shorts, compression garment, socks), and accessories (caps, backpacks, bags). The company’s mission in the past, present, as well as in the future is to contribute to a sustainable and healthy society as well as to bring joy to the people across the world through sports. In February 2016, ASICS Corporation acquired 100% shares of FitnessKeeper, Inc., operator of fitness tracking app "Runkeeper" for USD 85.0 million and converted it into its subsidiary. Asics is also the Olympic and Paralympic Games Tokyo 2020 Gold Partner.

• AZUMIO, INC. - Azumio, a venture-backed company whose investors include Accel Partners, Founders Fund, and Felicis Ventures, is a mobile health company specializing in biometric mobile technology. The company’s mission is to accelerate people’s transition into digital health and is uilizing artificial intelligence & innovative mobile applications to influence behavior to improve customers’ health and wellness. It works closely with research scientists from academic institutions, including UCSF Stanford University, as well as collaborates with established industry heavyweights for development of next-generation technologies in mobile health.

• FITBIT, INC. - Fitbit develops innovative wearable devices to offer immersive wellness experiences to a growing community of over 29.0 million active members. Its product range includes smartwatches, activity trackers, and wearable technology devices that are wireless-enabled and enables measuring of data such as heart rate, steps climbed, quality of sleep, number of steps walked, and other personal health-related metrics involved in fitness. The mission of the company is to empower and inspire users to live a healthier and more active life. In addition, the products and experiences designed by the company fit seamlessly into the customer’s life to achieve their health and fitness goals. Fitbit was acquired by Google for USD 2.1 billion in January 2021.

• FITNESSKEEPER - FitnessKeeper offers innovative exercise programs that are aimed to motivate clients while they work toward their health and fitness goals. Exercise Physiology was also incorporated into the company's service portfolio to offer optimum exercise sessions to people with chronic diseases or injuries. In addition, it also delivers guided and evidencebased programs led by ESSA-accredited Exercise Physiologists (AEPs) for people with a number of health conditions. In February 2016, FitnessKeeper, Inc.’s 100% shares were acquired by ASICS Corporation for USD 85.0 million and was converted into its subsidiary.

• FOODUCATE LTD. - Fooducate, a mobile application developer, simplifies weight loss for individuals through its innovative app. The application facilitates healthier grocery shopping by allowing users to scan product barcodes, analyze items, receive alternative suggestions, and access comprehensive nutritional information. This user-friendly approach empowers consumers to make informed choices, promoting a healthier lifestyle. Notably, Fooducate goes beyond general nutrition guidance, extending its impact to individuals with diabetes or prediabetes. The app offers specialized nutrition evaluations and recommendations tailored to the specific needs of those managing diabetes, covering over 200,000 commonly found foods and beverages in supermarkets. By providing personalized insights, Fooducate contributes to the health and well-being of its users, aligning with the broader trend of leveraging technology to enhance dietary awareness and support healthier living. The company's commitment to simplicity and effectiveness positions it as a valuable tool in the journey toward improved nutrition and overall wellness.

• GOOGLE (ALPHABET INC.) - Google, a technology giant, specializes in a diverse range of Internet-related products and services, encompassing a powerful search engine, cloud computing solutions, online advertising technologies, software development, and hardware manufacturing. The company's overarching mission is to organize the world's information, making it universally accessible and beneficial. Google is dedicated to enhancing the lives of individuals by prioritizing responsible data practices, incorporating industry-leading security measures, and providing easily navigable privacy controls. Beyond technological innovation, Google is committed to fostering inclusivity by expanding opportunities and ensuring diverse voices are heard. The company demonstrates its commitment to social responsibility by responding to crises and contributing to global sustainability efforts. This multifaceted approach underscores Google's broader goal of positively impacting as many people as possible through its technological advancements and ethical business practices, aligning with its mission to make information universally useful and accessible.

• MYFITNESSPAL INC. - MyFitnessPal, a smartphone app and website designed for diet and exercise tracking, incorporates gamification elements to motivate users in achieving their fitness goals. The app boasts a comprehensive pre-existing database and a barcode scanning feature, enabling users to manually input and scan food items to track nutrients and calories effectively. In a notable development, Under Armour acquired MyFitnessPal in February 2015 for USD 475.0 million. However, a shift in ownership occurred in December 2020, when the platform was sold to Francisco Partners, a venture capital firm, for USD 345.0 million. This change in ownership signifies a strategic move in the dynamic landscape of health and fitness applications, reflecting the evolving priorities and strategies within the industry.

• NIKE, INC. - Nike, Inc. is a global powerhouse engaged in the comprehensive spectrum of designing, developing, manufacturing, and worldwide sales and marketing of footwear, equipment, apparel, accessories, and services. The company's diverse product offerings span across six key categories, namely NIKE Basketball, Running, Training, Football (Soccer), the Jordan Brand, and Sportswear. Beyond catering to adult consumers, Nike also extends its product line to include offerings tailored for children and various athletic and recreational pursuits such as baseball, American football, cricket, golf, skateboarding, lacrosse, volleyball, walking, wrestling, tennis, and other outdoor activities. At the core of Nike's strategy is the cultivation of robust and personalized customer relationships, the continuous development of innovative and coveted products, and the delivery of compelling consumer experiences across both retail and digital platforms. This strategic approach positions Nike to drive sustained revenue growth over the long term, showcasing its commitment to staying at the forefront of the dynamic and competitive sportswear market.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Fitness App Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2022, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Fitness App Market Report Assumptions:

• The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.