Fitness App Market to Grow at 31.35% CAGR to 2020 Driven by Smartphones and Internet Penetration

Key trends driving fitness apps market growth during the review period of 2016 – 2020 include dipping cost of paid mobile apps and an increasing number of free apps according to this new report available with ReportsnReports.com.

An analyst of Global Fitness App Market 2016-2020 said "Mergers and acquisitions, strategic alliances, and partnerships are corporate strategies that help an enterprise sustain its growth. They enable companies to diversify their product portfolios by introducing new products and variants for various industry verticals. They also increase the market reach of products, increasing the top-line revenue of companies."

Complete report on fitness app market spread across 32 pages, analyzing 5 major companies and provides 12 data exhibits is now available at http://www.reportsnreports.com/reports/495300-global-fitness-app-market-2016-2020.html .

The report covers the present scenario and the growth prospects of the global fitness app market for 2016-2020. To calculate the market size, the report considers the revenue generated from sports-related fitness apps from the following regions: Americas, EMEA, APAC. According to the report, the growing penetration rate of smartphones is expanding the fitness app market. The availability of high-speed Internet connectivity has also increased the frequency of apps installed by individuals.

The analysts forecast global fitness app market to grow at a CAGR of 31.35% during the period 2016-2020. Advanced mobile apps with featured enhancements carry a premium price. However, the cost of such apps is likely to decline with its growing demand, and this will increase its rate of installation among the price-sensitive customers. Factors such as the dipping cost of paid mobile apps and an increasing number of free apps are the key trends that will bring about growth in the global market for fitness apps during the estimated period.

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In terms of geography, the Americas dominated the global market for fitness apps during 2015. One of the primary reasons for the growth of the market in this region is the presence of multiple fitness app providers in the Americas. In the Americas, the US is the largest revenue contributing region as the populace in this region continually strives for a healthier lifestyle. The growing adoption of wearable devices such as smartwatches and fitness bands will also aid in the growth of this market in the Americas.

The global fitness apps market is heavily influenced by a combination of global economic momentum, major sporting events, and a strong focus on health and well-being. This market is highly competitive due to the presence of many big and small players. Technological innovations among leading vendors play a significant role in driving market growth. The competition among market vendors is intense in terms of pricing, portfolio, and user-friendly interface.

Further, the report states that the difficulty in navigating app stores for quality apps is one of the major challenges faced by users.

Main players in the Global Fitness App Market are Azumio, Fitbit, Jawbone, Runkeeper and Under Armour. Other Prominent Vendors in the market are: Adidas, Daily Workouts, Google Fit, Nike, Noom, Polar Electro, Runtastic, Samsung Electronics, Sports Tracking Technologies and Wahoo Fitness.

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Website: http://www.reportsnreports.com/reports/495300-global-fitness-app-market-2016-2020.html

Release ID: 106811