Move to Earn Fitness Apps Global Market Report 2022: Increasing Use of Wearables Bolsters Sector Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Move to Earn Fitness Apps Market by Platform, by Device, and by Region – Global Forecast to 2023-2033” report has been added to ResearchAndMarkets.com’s offering.

The move to earn fitness apps market size is estimated to be USD 411.2 million in 2022 and is expected to witness a CAGR of 18.54% during the forecast period 2023-2033.

Growing usage of smartphones by consumers across all income classes, rising healthcare costs, increase in obesity rates, surge in the number of athletes, deployment of 3G and 4G network infrastructure and 5G networks in areas with a stronger economy are projected to drive the market growth in near future.

Furthermore, increase in usage of wearable devices and technological advancements is expected to fuel the market growth. However, lack of digital literacy and skills, network coverage, security, and trust issues related to data privacy are predicted to limit market growth are expected to restrain the market growth.

Increase in usage of wearable devices is projected to spur the market growth during the forecast period. The adoption of wearable technology is influenced by a variety of socioeconomic characteristics, including education, occupation, and income, similar to the adoption of the majority of digital technologies.

Global consumer spending on wearable technology is anticipated to rise 18.1% in 2021 over 2020, according to a report that featured in the Economic Times. In 2020, consumer expenditure on wearables such as smart watches and patches surged by 17.6% and 20.3%, respectively.

Technological advancements are predicted to propel the market growth during the forecast period. This industry is being transformed significantly by technology. The number of platforms available to fitness enthusiasts is anticipated to rise as a result of technological advances, supporting market expansion. The emergence of start-ups offering advanced technologies is a key driver of market penetration and consumer adoption.

Segmentation

By Platform

The market is categorized into android and iOS. In 2022, the iOS segment accounted for the highest revenue share due to rise in smartphone adoption worldwide. The rapid global adoption of iOS devices all through the previous few years can be credited with the segment’s expansion. For instance, the number of active Apple device users increased from over 1.4 billion in the first fiscal quarter of 2019 to more than 1.5 billion in the first fiscal quarter of 2020. However, the segment for Android is anticipated to grow at the highest pace throughout the projected period due to rising popularity of this platform, particularly in developing nations. Growing levels of disposable income are promoting the use of smartphones, which is further anticipated to substantially increase the use of these apps. According to a survey by Economics Times, India’s smartphone market is anticipated to rise to 820 million units, which will favorably affect the segment’s expansion.

By Devices

The market is segmented into tablets, smart phones, and wearable devices. In the global market, the smart phones segment accounted for the largest revenue share in 2022 owing to customers’ increased adoption of smartphones over the past few years. A factor in the segment’s expansion is the rise in smartphone internet usage. Numerous fitness trackers, including the Apple Watch, Fitbit, Polar watch, and Garmin, are used in combination with regular smart phones to track users’ locations and monitor their activities, such as running, calorie intake, calorie burn, workout reminders, and workout planner, in order to achieve the user’s overall fitness goal. However, wearable technology is expected to develop at the quickest CAGR during the projected period. The expansion can be attributed to technological advancements and the rising popularity of wearable fitness devices.

Key Topics Covered:

1. Research Methodology

2. Introduction: Move to Earn Fitness Apps

3. Executive Summary

4. Market Dynamics

5. Market Environment Analysis

6. COVID-19 Impact Analysis: Move to Earn Fitness Apps Market

7. Market Analysis by Platform

8. Market Analysis by Devices

8. Regional Market Analysis

9. North America Move to Earn Fitness Apps Market

10. Europe Move to Earn Fitness Apps Market

11. Asia Pacific Move to Earn Fitness Apps Market

12. Latin America Move to Earn Fitness Apps Market

13. MEA Move to Earn Fitness Apps Market

14. Competitor Analysis

15. Company Profiles

16. Conclusion & Recommendations

Companies Mentioned

• Charity Miles Higi
• Diet Bet Map My Fitness
• Healthy Wage
• Fit mint
• Sweat coin
• Vitality
• Evidation
• Win walk.

For more information about this report visit https://www.researchandmarkets.com/r/6f7bja

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