Worldwide revenue from fitness apps to grow by 34.4%
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 revenue from fitness apps is projected to experience a 34.4% growth in 2021 and reach $13.54bn.
Revenue from fitness apps to reach $13.5bn
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 2021, worldwide revenue from fitness apps is projected to reach $13.54bn 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 $28.42bn by the end of the forecast period.
China generated the largest revenue from fitness apps in 2020, amounting to $10.1bn while India had the second-largest with $6.07bn. Only the United States and Indonesia recorded revenues from fitness apps worth more than $1bn with $4.75bn and $1.37bn respectively.
Fitness apps users to pass half a billion
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. 61.5% of this total number 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.
Rex Pascual, Editor at TradingPlatforms.com, commented: “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.”