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Worldwide revenue from fitness apps to reach almost US$30 billion by 2025
Newly released data from online education provide TradingPlatforms suggests that global revenue from fitness apps is experiencing a 34.4% growth during 2021 and will reach US$13.54 billion, before further expanding the US$30 billion in revenue by 2025.
With the growth of usage of fitness apps already on the rise before the Coronavirus pandemic, the last 16 months has seen, according to TradingPlatforms, the entire industry’s revenue numbers “skyrocket” even more, with projections showing sustained growth in the coming years.
TradingPlatforms, an education and comparison platform for online traders, see that “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.”
China generated the largest revenue from fitness apps in 2020, amounting to US$10.1 billion while India had the second-largest with US$6.07 billion. Only the United States and Indonesia recorded revenues from fitness apps worth more than US$1 billion with US$4.75 billion and US$1.37 billion respectively.
Fitness Apps users to pass half a billion users in 2021
The number of fitness app users is projected to cross the 500 million user mark sometime in 2021.
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.
Commenting on the findings, Rex Pascual, Editor at TradingPlatforms advised “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.”
Click here for more information on the Trading Platforms website.
Image courtesy of Technogym.
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