Fitness apps 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 revenuee from fitness apps is projected to experience a 34,4% growth in 2021 and reach $13,54-billion.
Awareness around health and fitness has gown 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 2021, worldwide revenue from fitness apps is projected to reach $13,54-billion 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 $28,42-billion by the end of the forecast period.
China generated the largest revenue from fitness apps in 2020, amounting to $10,1-billion while India had the second-largest with $6,07-billion Only the US and Indonesia recorded revenues from fitness apps worth more than $1-billion with $4,75-billion and $1,37-billion respectively.
The number of fitness app users is projected to cross the half a billion user mark sometime in 2021, even reaching just over 600-million by the end of the year. A massive 61,5% of this total number of users are free fitness app users which amounted to 369,61-million users while the remaining 38,5% are paid fitness app users which amounted to 231,83-million 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 300-million and 200-million user mark respectively.
Rex Pascual, editor at TradingPlatforms.com, comments: “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.”