PUBLISHER: Grand View Research | PRODUCT CODE: 1363314
PUBLISHER: Grand View Research | PRODUCT CODE: 1363314
The global exercise and weight loss apps market size is expected to reach USD 2.55 billion by 2030, registering a CAGR of 17.3 % from 2023 to 2030, according to a new study by Grand View Research, Inc.. The remarkable growth is primarily fueled by a surge in demand and technological advancements. The market continuously evolves and expands as companies and consumers recognize its benefits. In response to this trend, various companies and businesses actively invest in innovation, introduce new products and services, and explore untapped opportunities to increase their presence in the market.
The exercise and weight loss apps utilize machine learning, artificial intelligence, and various other innovative technologies to provide individualized fitness programs to their users. They deliver personalized dietary recommendations and exercise routines that require track steps, oversee dietary habits, no equipment, and offer personalized health and fitness coaching. Compared to traditional physical fitness establishments, these unique offerings and advantages are anticipated to enhance the market's growth prospects significantly
The COVID-19 pandemic has significantly impacted the market. With lockdowns and restrictions limiting access to gyms and fitness facilities, individuals turned to alternative methods to maintain their health and fitness. This shift accelerated the adoption of virtual fitness platforms and mobile apps, driving demand for home-based workout solutions. The pandemic heightened awareness about the importance of a healthy lifestyle, increasing interest in weight loss programs and dietary guidance. As a result, the exercise and weight loss market witnessed a transformation, with a stronger emphasis on digital fitness offerings, online coaching, and health-focused products, and this shift is expected to continue influencing consumer preferences even as restrictions ease.
The market is witnessing higher competition as these apps gain greater traction and acceptance among healthcare providers and patients. In addition, the market's competitive landscape is being shaped by the key players' strategic moves, including mergers, partnerships, and acquisitions, which are anticipated to intensify the competitive dynamics. Moreover, government bodies are increasingly collaborating with private players, which is expected to drive the growth.
For instance, in collaboration with the FIFA World Cup Qatar 2022, the World Health Organization, and the Ministry of Public Health of Qatar, FIFA announced the launch of a new digital application, GenMove, to promote physical activity and enhance the well-being of young individuals. This gaming application utilizes sophisticated motion tracking technology and artificial intelligence to deliver an energetic gaming experience for youngsters aged 8 to 15. The games incorporated within the app encompass a variety of movements that foster diverse physical skills, catering to children of all fitness levels. The WHO recommends that all children and adolescents engage in an average of 60 minutes of moderate-intensity aerobic physical activity daily, including exercises that strengthen muscles and bones at least thrice weekly.