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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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3rd July 2021 - Fitness Australia invites input on industry trends survey
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16th February 2021 - NZREPS share research insights into top exercise trends for 2021
22nd January 2021 - Body Fit Training founder shares insights into top fitness trends for 2021
15th October 2020 - Asia’s wellness market set to be world’s largest by 2023
5th August 2020 - Jonas Leisure’s Visitance contact tracing App records 150,000th visitor
11th February 2020 - Fitness marketing expert Steve Jensen releases new sales app
6th January 2020 - Les Mills suggests the top 10 fitness trends for 2020
2nd November 2019 - Google acquires Fitbit in US$2.1 billion deal
30th September 2019 - New App to change the face of member interactions in the gym
14th September 2019 - World-first sees Fitbit integration into Singapore’s public health program
9th September 2019 - Evolt launches new mobile app offering personalised body composition information
8th August 2019 - Viva Leisure launches new app to offer keyless entry into clubs
10th March 2019 - Fitbit adds new products to its wearable technology portfolio
8th November 2018 - Aaptiv audio fitness app now available in Australia
12th March 2018 - Australian fitness industry revenues to grow to $2.4 billion by 2022/23
14th June 2017 - Technogym introduces Apple Watch compatibility
2nd November 2014 - Google launches fitness app to take on Apple and Samsung
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