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By 2030, the fitness app industry could be worth a total of $120.37 billion, according to a study by Allied Market Research.
North America held the largest market share in 2020, with one-third of the global market. But the report projects that the market in the “Asia-Pacific” will grow at the fastest rate worldwide.
The study suggested that an increased awareness of “a healthy lifestyle” and “diet-related diseases,” as well as an increased use of devices carrying these apps, will all contribute to the boom.
But it also put a major emphasis on how the global pandemic — and a movement toward working remotely — has pushed consumer interest toward at-home fitness solutions.
The study found that smartphones accounted for the largest share of devices used for fitness apps in 2020, but suggested that fitness wearables would see the largest growth of all devices.
Meanwhile, brands are getting creative with their fitness interfaces. When Facebook rebranded as Meta, CEO Mark Zuckerberg unveiled several workout options using the brand’s Quest VR headset.
Nike reported $11.4 billion in second-quarter earnings on Monday, beating analysts’ estimates of $11.25 billion.
Connected fitness company Echelon is ramping up its rivalry with Peloton with the release of a new bike.
Trainiac is now Trainiac by Gympass. The latter announced its acquisition of the one-on-one fitness platform on Wednesday.
Peloton is looking to turn its fortunes around, starting with an ad that responds to the company’s surprising role in a new HBO show.
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