Key Drivers of the Exercise and Weight Loss App Market
“The Business Research Company recently published a comprehensive report on the global Exercise and Weight Loss Apps market size and trend analysis with forecasts from 2024 to 2033. This latest market research report It provides a wealth of valuable insights and data, including size, regional share, and more.”It also covers current trends, future opportunities, and key data to succeed in the industry.
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According to The Business Research Company, the market size of exercise and weight loss apps has grown rapidly in recent years. It is expected to grow from $800 million in 2023 to $960 million in 2024, at a compound annual growth rate of 20.4%. Growth during this historic period can be attributed to increased smartphone penetration, increased health awareness, technological advances, the obesity epidemic, the shift to personalized fitness, and the influence of social media.
The market size of exercise and weight loss apps is expected to grow rapidly in the coming years. It is expected to grow to $2.03 billion by 2028 at a compound annual growth rate (CAGR) of 20.5%. Growth over the forecast period is driven by rising smartphone penetration, advances in wearable technology, increasing prevalence of lifestyle diseases, demand for personalized fitness plans, integration of AI and data analytics, remote and home-based workouts This is likely due to the transition to . Key trends over the forecast period include increasing integration with wearable technology, increasing AI-driven personalization, increasing virtual and live workout sessions, expanding holistic health features, and increasing gamified fitness experiences. These include increased popularity, increased emphasis on social community building, and proliferation. In corporate wellness partnerships.
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Market drivers and trends:
Rising awareness about oral health is expected to drive growth in the dental implant and prosthesis contract manufacturing market in the coming years. Oral health refers to the absence of chronic pain in the mouth and face. Increased awareness of oral health is due to several factors, including intensified public health campaigns, improved access to dental care, dissemination of information through digital media, and emphasis on preventive care and early detection of dental problems. is. Contract manufacturing of dental implants and prosthetics ensures the production of high-quality, customized dental solutions that improve functionality, esthetics, and overall oral health for patients. For example, in 2022, national dental spending increased 11% from $146 billion in 2020 to $162 billion in 2021, according to the American Dental Association, a U.S.-based professional organization. Therefore, increasing awareness about oral health is driving the growth of the dental implant and prosthesis contract manufacturing market.
Leading companies operating in the exercise and weight loss app market are focusing on developing workout tracking technology to diversify their product offerings and cater to health-conscious consumers. Workout tracking technology refers to tools and devices that monitor and record physical activity and exercise data and provide users with insights into their fitness routines and progress. For example, Insane AI, an India-based fitness technology company, launched an artificial intelligence (AI)-powered fitness training app in October 2022. AI-powered workout tracking technology is an AI-powered fitness training app. The app uses AI technology to accurately track your training, provide real-time feedback on your athletic performance, and help correct your posture. It offers a variety of guided workouts, including HIIT (high-intensity interval training), cardio, strength training, yoga, balance, and agility drills, and keeps users engaged with interactive visuals and live feedback.
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Major key players in the market:
Google LLC, Nike Inc., Adidas AG, Under Armor Inc., Garmin Ltd., ASICS Corporation, Fitbit Inc., Weight Watchers International Inc., Beachbody LLC, Noom Inc., Appinventiv Technologies Pvt. Ltd., FitOn Inc., Wahoo Fitness LLC, MyFitnessPal Inc., DailyBurn Inc., Jawbone, Lose It!, PlateJoy Inc., Cult.fit, Obe Fitness, Gymshark Ltd, Fittr, HealthifyMe Wellness Private Limited, Nexercise Inc., Stronglift
Key Insights of the Exercise and Weight Loss App Market in 2024:
• The market size of exercise and weight loss apps is expected to grow rapidly in the coming years. It is expected to grow to $2.03 billion by 2028 at a compound annual growth rate (CAGR) of 20.5%.
• Obesity drives a surge in the exercise and weight loss app market
• Advancements in workout tracking technology are transforming exercise and weight loss apps
• North America to be the largest region for exercise and weight loss apps market in 2023
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