Entertainment & Media Market Research Report - Global Forecast till 2030

 Market Analysis 

The entertainment & media market is likely to develop at a healthy 10.40% CAGR between 2020 - 2030, states the recent Market Research Future (MRFR) analysis. The entertainment & media market includes every form of broadcasting medium, including TV, radio, magazines, newspapers, and also books, music, and film. 

Various factors are propelling the global entertainment and media market growth share. According to the recent MRFR report, such factors include the advances in digital technologies, the emergence of 5G network connectivity services, the impact of artificial intelligence on the gaming sector with increasing demand from consumers for an enhanced gaming experience, the proliferation of connected and smart devices like smart TVs, gaming consoles, smart speakers, tablets, and smartphones, and growing adoption of the internet. 

On the contrary, challenges of controlling piracy, proper enforcement of copyright laws, development of new media content, the emergence of a new culture, and the impact of the on-going COVID-19 pandemic are factors that may impede the global entertainment and media market growth over the forecast period. 

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Market Segmentation

The MRFR report highlights an inclusive segmental analysis of the global entertainment and media market based on application and type. 

By type, the global entertainment and media market is segmented into outdoor advertising, toys, book and magazines, radio and broadcasting, amusement park/facilities, art, sports, video games, animation, social media, music, and films and theatrical. Of these, books and magazines segment is predicted to lead the market over the forecast period. 

By application, the entertainment & media market is segmented into wireless and wired. Of these, the wired segment will dominate the market over the forecast period. 

Regional Analysis

Based on the region, the global entertainment and media market report covers the recent trends and growth opportunities across the Asia Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Of these, North America will dominate the market over the forecast period. A major contribution from the US film & media enterprises and gaming & music industry, demand to access media and entertainment live by consumers on smartphones, presence of large and small media & entertainment conglomerates like cable & magazine subscriptions, newspaper, music services, video and streaming services, movie theatres, films, and television, excellent video distribution network is adding to the global entertainment and media market growth in the region. The United States holds the maximum share in the market for the presence of the world’s largest publishing sector that publishes e-books and content in educational and professional sectors and increasing demand of consumers for an enhanced reading experience. The US is followed by Canada and Mexico. 

The global entertainment and media market in Europe is predicted to hold the second-largest share over the forecast period. Rising internet penetration, the huge contribution from the media sector, presence of leading radio broadcasters in Western Europe comprising France, Spain, Germany, and the UK, and increasing internet access in Sweden, Italy, Denmark, and Russia are adding to the global entertainment and media market growth in the region. 

The global entertainment and media market in the APAC region is predicted to grow at a fast pace over the forecast period. Presence of a large population in India and China that demands high-quality media content, presence of leading media providers, growing adoption of tablets and smartphones in Japan and China, rapid growth in the entertainment & media industry in China, the advent of digital media, increasing digitalization, increasing adoption of media & entertainment services and products like films, video games, advertisements, and videos, and heavy investments made by the Chinese government enabling foreign companies to invest in local newspapers and magazines are adding to the global entertainment and media market growth in the region. 

The global entertainment and media market in the RoW is predicted to have steady growth over the forecast period. 

Key Players

Key players profiled in the global entertainment and media market report include The Walt Disney Company (US), CBS Corporation (US), Viacom, Inc (US), Bertelsmann SE & Co. KGaA (Bertelsmann) (Germany), Facebook, Inc. (US), Comcast Corporation (US), Alphabet Inc. (US), Verizon Communications Inc (US), Warner Media, LLC (US), Grupo Globo (Brazil), Discovery, Communication Inc (US), iHeartMedia, Inc. (US), Advance Publications, Inc. (US), News Corporation (US), and Baidu Inc. (China). 

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Industrial Design Market Research Report Global Forecast to 2027

 Global Industrial Design Market Research Report: by Type (Product Design, Model Design and Fabrication, User Interface and Interaction Design, Other Industrial Design), by Application (Transportation, Electronic, Household, Machinery & Equipment, Others), and Region - Forecast to 2027

Overview

The industrial design market is anticipated to grow by US$61,786.7 million by 2027 rapidly growing at a CAGR of 5.85% during the forecast period. The global industrial design market is driven by environmental viability of manufacturing processes and use of environmentally feasible, renewable energy sources. These factors have helped shape the industrial design market and are expected to boost the growth. Companies in the industrial design market could also face challenges such as lack of skilled manpower and poor economic policies. The details covered in the industrial design market report cover all the aspects of the industry. Industrial design market analysts have also shared growth projections in the report and have suggested industrial design market players to plan growth strategies accordingly.

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Market Segmentation

The global industrial design market has been segmented based on types and applications. On the basis of types, the market for industrial design is segmented based on user interface and interaction design, model design, product design, and fabrication, other industrial design. Additionally, the market on the basis of applications, is segmented into electronic, transportation, machinery & equipment, household, and others.

Factors like environmentally oriented manufacturing processes and incorporation of more advanced tools and mechanisms support the industrial design market growth. The performance of the industrial design market has also been studied for the past and current years. Additionally, the industrial design market report provides analysis of these segments. The industrial design market segmental analysis provided in the report offers major details about the industrial design market performance and future.

Regional Overview

Companies in the industrial design market are spread across the world. The industrial design market report provides major information about regional markets of North America, Europe, Asia-Pacific (APAC), and the rest of the world. The North American industrial design market has many companies across the United States, Canada, and Mexico. Europe has companies in the industrial design market across Germany, France, Spain, Italy, and the United Kingdom. A detailed analysis of the industrial design market across India, China, and Japan in the Asia-Pacific region is also presented in the report. The industrial design market of the Middle East, Africa, and other regions has also been studied by analysts. The regional analysis of the industrial design market can be found in the market research report.

Competitive Landscape

The industrial design market is supported by the rising IoT trend enabling automation of industrial processes. The population growth around the world and increasing demand of industrial design market based services and products also support the market growth. However, the industrial design market growth can be affected due to poor operational environment and high cost of design and development solutions. The report covers all such details which will help companies in the industrial design market to strengthen their business plan and improve their product portfolio. The industrial design market research report also provides company profiles of major companies. The company profile of organizations operating in the industrial design market discusses strategies, growth plans, size, revenue, and mergers and acquisition details of top companies in the industrial design market. New entrants and established players can plan their strategies based on this data provided in the industrial design market research report.

Industry News

The acquisition of Quatro Design Pty Ltd by the affiliate, The AMES Companies, Inc. was announced by Griffon Corporation. The transaction's financial details were not published.  Centered in Australia, Quatro Concept produces and distributes reinforced concrete goods for glass fibre landscaping. It has a strong base of clients in the public, residential and industry sectors.

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A2P Messaging Market Research Report - Global Forecast till 2027

 An increase in the mobile subscriber base and rising demand for A2P messaging platform in the enterprise sector are driving the growth of the global A2P messaging market: MRFR

Overview

The global A2P messaging market is projected to grow at a CAGR of 4.2 % % during the forecast period (2020-2027)

A2P messaging platforms provide an opportunity for enterprises to strengthen their customer engagement and reach. The ability of A2P platforms to strengthen business strategies is expected to offer opportunities for players operating in the global A2P messaging market during the forecast period.

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Regional Analysis

The geographic analysis of the A2P messaging market has been conducted for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

By country, the Asia-Pacific A2P messaging market has been segmented into China, India, Japan, and the rest of Asia-Pacific. For analysis, we have considered the impact of the COVID-19 outbreak on the Asia-Pacific A2P messaging market. 

According to MRFR analysis, the impact of the pandemic is expected to last for the next two years, and it will gradually start recovering after that. China has the largest population globally; various enterprises prefer messaging over the WeChat application for promotional messages and transactional messages. The number of digital payment transactions is also growing exponentially in the country and, hence, the use of OTP, 2FA, and single-factor authentication messages is very high in the country. In Japan, messaging has become a marketing tool for enterprises and a means of sending authentication codes as it is not easily susceptible to identity fraud. The Indian government is moving towards digitalization, and hence the messages are sent directly to residents by messaging. For the scope of the study, the rest of the Asia-Pacific includes countries such as Indonesia, Australia, South Korea, Vietnam, the Philippines, Thailand, Malaysia, and Singapore. The number of mobile subscriptions in these countries is continuously increasing

The North American A2P messaging market is divided into the US, Canada, and Mexico. The increasing mobile internet subscriber base, surging digital advertising, rising demand for advanced products, emerging IoT technologies, increasing ICT spending, and rising adoption of mobile technologies across various industry verticals are expected to boost the regional market's growth throughout the study period. A2P messaging has helped brands in the region digitally improve their brand image by sending notifications, alerts, advertisements, and other promotional activities to customers.

The Europe A2P messaging market is categorized into Germany, the UK, France, Spain, and the rest of Europe. The regional market is expected to grow at a 2.6% CAGR during the forecast period. The market is projected to be valued at USD 8,489.4 million by 2027. The market in Europe is primarily driven by the growing use of A2P messaging communication solutions among enterprises. Furthermore, the continuous growth in mobile subscribers and the region's overall population is expected to further stimulate the European market.

The South America A2P messaging market is expected to reach a valuation of USD 6,246.4 million by 2027. The regional market is driven by the growing use of A2P messaging services among enterprises of all sizes. Some of the key benefits of A2P messaging services driving their adoption in the region include security, efficiency, reachability, and better customer communication. Countries considered in the scope of the study are Brazil, Chile, and Argentina.

The Middle East & Africa (MEA) A2P messaging market is expected to grow at a 4.7% CAGR during the forecast period. The regional market is expected to be valued at USD 5,042.7 million by 2027. The MEA A2P messaging market is driven by the growing demand for these direct to consumer marketing solutions from enterprises of all sizes across the region. Furthermore, mobile users have also surged in the region, thereby impacting the market growth. For the purpose of analysis, we have considered GCC, South Africa, Israel, Iran, and Nigeria as part of the MEA.

Competitive Analysis

The key players operating in the global A2P messaging market include Bharti Airtel Limited (India), China Unicom (Hong Kong) Limited, Tata Communications Limited (India), Sap Se (Germany), Orange Business Services (France), Vodafone Group Plc. (UK), Monty Mobile (UK), ARPUPLUS (Giza), Clickatell(US), Giga Waves (UAE), SMSGLOBAL (Australia), Zen Interactive Technologies (UAE), Global Message Services (Switzerland), Infobip Ltd.(UK), and MGAGE (US).

Segmental Analysis

Based on service type, the A2P messaging market has been segmented into transactional services, promotional services, and interactive services. The transactional services segment is further divided into unstructured supplementary service data (USSD), one time password (OTP) interactive services, and two factor authentication (2FA). The promotional services segment is divided into promotional campaign services, pushed content services, and inquiry & search services.

Based on vertical, the A2P messaging market has been segmented into BFSI, media & entertainment, healthcare, education & research, retail and e-commerce, government, utilities & logistics, IT & telecommunications, and others.

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Data as a Service (DaaS) Market Research Report Forecast to 2027

 Market Overview

According to Market Research Future (MRFR), the global data as a service (DaaS) market is projected to achieve USD 12 billion at a CAGR of 39% from 2020 to 2027 (forecast period). The study offers a complete assessment of the global situation, the economic situation, and the COVID-19 analysis of the overall industry.

Data as a service (DaaS) is a model that offers on-demand data to users regardless of the geography or organization of the provider and the consumer. DaaS is a cost-effective responsive service that enables companies to concentrate on selling their products rather than sourcing, managing, and activating data.

Businesses need new capabilities to support themselves in the market and to build a competitive edge for themselves. Due to rapid technological change, companies are turning to cloud-based services to help their businesses minimize the costs of building, running, and protecting applications, thereby accelerating business agility.

Market Dynamics

The factors responsible for driving the market are the increasing adoption of big data analytics across various industry verticals and the increasing demand for real-time data analytics. In addition, the industry is also driven by the increased adoption of cloud-based services in enterprises. Initiatives like Bring Your Own Device (BYOD) and Enterprise Mobility are critical opportunities in the data as a service (DaaS) industry. The industry also faces a variety of obstacles, including data theft and cyber-attacks, and a lack of technological knowledge in data as a service (DaaS) that could potentially impede the market growth.

Cloudera has extended its Altus Data Science platform as a service offering to the Azure cloud. This development will preserve business metadata and security and governance policies so that they can be implemented through data processing and data analytics workloads in the cloud.

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Market Segmentation

The global data as a service market has been segmented into deployment, organization size, end-user, pricing model, solution, and professional services. 

By deployment, the global data as a service market has been segmented into public cloud, private cloud, and hybrid cloud.

By organization size, the global data as a service market has been segmented into small and medium enterprises and large enterprises.

By the end-user, the global data as a service market has been segmented into BFSI, healthcare, retail, manufacturing, media & entertainment, transportation, IT & telecom, and others.

By pricing model, the global data as a service market has been segmented into volume-based pricing model and data type-based pricing model. The volume-based pricing model includes quantity-based pricing and pay per use pricing.

By solution, the global data as a service market has been segmented into disaster recovery and backup solutions, test data management, data warehousing, data migration, and others.

By professional services, the global data as a service market has been segmented into implementation & deployment, support & maintenance, and consulting.

Regional Analysis

The geographical analysis of the global data as a service market is studied for North America, Europe, Asia Pacific, and the rest of the world.

North America is expected to lead the data as a service (DaaS) market during the forecast period. North America has a large amount of unstructured data gathering due to the digital revolution in the commercial and industrial sectors. Furthermore, the early adoption of cloud-based deployment services in North America has made it easier for industrial verticals to opt for big data analytics to re-structure business functions and strategies.

With rapid advances in data as a service, Asia Pacific is expected to expand at a significant pace during the forecast period. With the growing acceptance of cloud-based services and tremendous opportunities across companies in Asia Pacific countries, there is greater scope for advancement in the data as a service (DaaS) market.

Key Players

The industry giants in the data as a service are Microsoft Corporation (U.S.), IBM Corporation (U.S.), Alibaba Group Holding Limited (China), Facebook, Inc. (U.S.), Fair Isaac Corporation (U.S.), Google Inc. (U.S.), Oracle Corporation (U.S.), Salesforce.com, Inc. (U.S.), Bloomberg Finance L.P. (U.S.), Mastercard Advisors LLC (U.S.), LinkedIn Corporation (U.S.), and LexisNexis Corporation (U.S.).

Other participants in the market include comScore, Inc. (U.S.), Dow Jones & Company, Inc. (U.S.), FirstRain, Inc. (U.S.), Equifax, Inc. (Canada), Experian plc (Ireland), Twitter, Inc. (U.S.), Verizon Communications, Inc. (U.S.), SAS Institute Inc. (U.S.), Acxiom Corporation (U.S.), and EMC Corporation (U.S.).

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Mobile Value-Added Services (MVAS) Market Research Report - Global Forecast till 2027

 Overview 

The mobile value-added services (MVAS) market is anticipated to witness healthy growth from 2020 to 2027, a research report suggests. Growing at a CAGR of 15.3%, the market is projected to reach US$309.1 billion by 2027. The rising numbers of various MVAS subscribers is expected to support the market growth along with the growing market landscape. As predicted by analysts, the lack of technical expertise will negatively affect the market’s performance from 2020 to 2027. During the forecast period, the market will be supported by the need for customized value-added services and innovative customized mobile apps.

The lack of skilled human resource on the other hand will challenge telecom services sector based organizations functioning in the global mobile value-added services (MVAS) market. Analysts have split the market into product, regions, store, type, and vertical segments based on products and services. Telecom services based companies have been profiled. Demand and supply gaps is set to affect the global market during the forecast period 2020 to 2027. The report also provides the market’s performance forecasts till 2027. Strategies of telecom services based companies are studied. The telecom services sector itself is supported by the growing urbanization as well as technological advancements. During the forecast period 2020 to 2027, the mobile value-added services (MVAS) market is set to witness a health growth across product, regions, store, type, and vertical segments as well as regional markets.

COVID-19 Analysis

Despite the COVID-19 disruption, the mobile value-added services (MVAS) are still garnering significant market prominence. Pre pandemic, the MVA services were already having a big impact on the telecom industry. The pandemic accelerated digitization and increased remote activities, and impacted corporate spending on ICT networks and services. This, as a result, has increased investments in the mobile value-added services industry. 

The COVID-19 crisis brought a dramatic shift in consumer behavior from public spaces and physical meetings to digital interactions. The transition in the healthcare sector is even more pronounced, with 245% surges in telemedicine usages. It is expected that these changes would outlast the pandemic, marking a permanent shift in health-seeking behavior. The pandemic has also highlighted the crucial need for mobile value-added services in public health messaging.

Industry players worldwide are efficiently providing digital communications infrastructure to governments and health authorities. The MVAS messaging ecosystem empowers healthcare providers to send out real-time public health notifications and enables citizens to use different mobile channels to make appointments for COVID-19 tests and other services. Resultantly, the global mobile value-added services market has begun to garner traction, witnessing continually increasing investments.

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Market Segmentation

The telecom services sector has seen growth across product, regions, store, type, and vertical segments owing to the presence of untapped market opportunities and favorable government policies. To study the market, analysts have further segmented product, regions, store, type, and vertical into data, short message service (SMS), voice, and other value-added services on the basis of type. The market is further segmented into product sub segment which is split into email and IM, mobile advertising, mobile commerce, mobile games, mobile music, mobile wallet, and others. Additionally, the mobile value-added services (MVAS) market on the basis of store is segmented into Google Play, App Store, and others. Based on industry verticals, the market is further segmented into banking, BFSI, government, healthcare, IT & telecommunication, media & entertainment, retail, and others.

The segmental analysis presented in the report provides telecom services field based organizations insights into key growth factors such as the increasing awareness among consumers as well as challenges such as the lack of investments in R&D the market will face from 2020 to 2027. Technological developments and the rising numbers of various MVAS subscribers are some of the key factors having an influence on telecom services industry based companies, suggest analysts as per the mobile value-added services (MVAS) market report. But the report also identifies the lack of investments in research and development and the shifting preference for cheaper alternatives as major threats companies in telecom services will face till 2027.

Regional Overview

Telecom services market based companies in the mobile value-added services (MVAS) market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. A rise in the disposable income will be a key growth driver for regional markets. However, the growing penetration of alternatives in the market will turn out to be a threat. For the forecast period 2020 to 2027. Each of these regional markets are studied in the report. Starting from North America, the regional market and telecom services vertical based companies are spread across the United States, Mexico, and Canada.

The lack of developed infrastructure will turn out to be a major challenge from 2019 to 2025. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by the increasing preference of consumers as well as the growth of communication channels, suggests the report. Similarly, the telecom services sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the mobile value-added services (MVAS) market covers the Middle East and Africa. The global mobile value-added services (MVAS) market forecasts based on the findings are presented for the forecast period till 2027.

Competitive Landscape

The global mobile value-added services (MVAS) market research report brings a comprehensive study of product, regions, store, type, and vertical market segments, regional analysis, and telecom services vertical based company details of key players. As the forecast period 2020 to 2027 will bring new opportunities for the market owing to the rising industrialization and the surging usage across different industries, the market is set to grow at a compound annual growth rate of 15.3% and is predicted to reach a value of US$309.1 billion by 2027. With SWOT analysis of telecom services sector based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as dynamic policies and regulations and the high cost deployment and maintenance, companies in the telecom services sector can change the way business is done.

Industry News

SINA Corporation, a major online media platform and value-added information service provider for Chinese and global Chinese populations, reported today that it has reached an agreement to buy Crillion Corp, one of China's leading mobile value-added service providers. SINA would acquire two million paid subscribers as a result of the deal, solidifying its leading position in China's mobile value-added content segment. Crillion, based in Shenzhen, collaborates with job centres across China to provide job referrals to a large number of job seekers through wireless short messaging service ("SMS").

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Security Operations Center (SOC) Market Research Report - Global Forecast till 2027

 Several enterprises have taken up the objective of regularly monitoring security; this development is estimated to contribute positively to the security operations centre market 2020. The IT security reports are made by Market Research Future, which includes market options for progress. A CAGR of 10.31% is estimated to further the growth of the market in the forecast period.

The operative discovery of cyber threats and the relationship of the prevailing susceptibilities in the system are projected to increase the security operations centre market size further. Moreover, the bring-your-own-access (BYOA) to intensify employee productivity and satisfaction is predicted to enhance the security operations centre market in the forecast period.

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Segmental Analysis 

The segmental investigation of the security operations centre market has been conducted based on organization size, model, vertical, service,  and region. Based on the service, the security operations center market has been segmented into information security incident response service, security monitoring service, digital forensics and malware analysis service, threat & vulnerability identification, risk reporting & analytics service, and others. On the basis of the model, the security operations center market has been segmented into outsourced SOC and in-house SOC. Based on the organization size, the security operations center market has been segmented into large enterprises and SMEs. Based on the vertical, the security operations center market has been segmented into government, BFSI, oil & gas, IT & telecom, healthcare, retail, travel & tourism, aerospace and defense and others. On the basis of regions, the security operations center market has been segmented into namely North America, Europe, Middle East, Asia-Pacific and Africa. 

Detailed Regional Analysis 

The regional investigation of the security operations center market has been segmented into North America, Europe, Middle East, Asia-Pacific and Africa. The North American region was accountable for the leading segment in the global security operation center market. It is estimated to control the market for the duration of the forecast period. The collective need to screen, notice, explore, and counter cyber threats is the significant encouraging factor for the progress of the security operations center market in North America. 

Competitive Analysis 

The trends prevalent in the market are contributing substantially to the market’s progress. The market contenders are estimated to support the growth enabling factors and thus are estimated to pull the market out of the depression due to the ongoing global pandemic. The focus on accelerating growth is estimated to take the main stage in the forecast period. The need to effectively engage customers in all of their geographical markets is estimated to help the market overcome the hindrances being faced currently. The market is predicted to guide its future growth with the inclusion of a balance of innovation and continual product enhancement. Besides, the need to ensure that the long-term sustainable growth goals are not comprised due to the current difficulties is foreseen to be extremely important for the market stakeholders. The need to establish a unique advantage in the market is reviewed to have a substantial influence on the global market.

The eminent contenders in the security operations center market are Symantec Corporation (US), Alertlogic (US), Raytheon Company (US), Dark Matters Inc. (UAE), Capgemini SE (France), Cisco Systems Inc. (US), Secureworks Inc. (US), Digital Guardian (US), Fortinet Inc. (US), AT&T (US), Netmagic Solutions (India), Rapid7 (US) and F5 Networks Inc.

Industry Updates:

Jan 2020 Cygilant, a supplier of Cybersecurity-as-a-Service to mid-sized organizations, pronounced that it has joined with the Modern SIEM, LogPoint, and UEBA Company. The mixture of LogPoint’s market-major Security Information Event Management (SIEM) solution with Cygilant’s Cybersecurity Advisors (CSAs), computerized tools, fully-staffed Security Operations Center (SOC), and SOCVue Platform can directly help increase a company’s security position by offering access to real-time data analysis, collection, and remediation recommendations.

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Fitness App Market Worldwide Analysis, Top Manufacturers, Business Growth, Future Scope, Market Trends, Industry Size, Competitive Landscape, Development, Business Outlook And Global Analysis To 2027

 Market Overview

The global fitness app market is expected to exhibit a strong 31.25% CAGR over the forecast period from 2020 to 2027, according to the latest research report from Market Research Future (MRFR). The global fitness apps market is studied in great detail in the latest report from Market Research Future (MRFR), which includes a detailed analysis of the market’s historical growth trajectory and present condition. Major trends operating in the global fitness apps market are examined in the report. Based on this information, accurate and reliable projections for the market’s likely growth trajectory over the forecast period till 2022 are presented in the report. Leading drivers and restraints operating on the global fitness apps market are examined in the report. The impact of these major drivers and restraints on the global fitness apps market is examined in detail in the report. Thus, the major factors enabling the market’s growth are enlisted and profiled in the report. Leading players operating in the global fitness apps market are also profiled in the research report. The competitive landscape of the global fitness apps market is thus examined in detail in the report. The report also examines the impact of the COVID-19 pandemic on the global fitness apps market.

A fitness app is a software application that can be downloaded on any mobile device, such as a smartphone or a tablet. These apps are designed specifically to assist users with exercise and other types of physical training, nutrition and diet, health tracking, or any other related fitness concerns. The fitness apps market is driven by the increased use of mobile applications, rising adoption of sports and fitness applications for monitoring activities and fitness parameters such as the heart rate, and the growing demand for wearable fitness devices. Smartphones have become an essential aspect of a human’s social security and physiological wellbeing. A mobile application is a software application that is designed to run on mobile devices, such as smartphones, wearable devices, and tablet computers. Such applications have emerged due to the convergence of media, the Internet, and advanced technologies.

In recent years, people have changed the way of managing important elements of their life, including health, by using various health and fitness applications on their mobiles. Mobile health apps are referred to as mHealth apps. These apps operate on Android, Windows, and iPhone operating systems (iOS). There are thousands of health and fitness apps available for download on the Google Play Store. Nowadays, due to busy schedules, evolving health and fitness measures, and the ease of use, fitness apps can be downloaded and used either for a few dollars or for free. Such apps offer health benefits as they enable users to stay fit by maintaining their weight and guiding them through exercises as per their comfort and convenience. They also help users benefit from the range of diet plans to suit their body types. Hence, an increase in the use of mobile applications has led to a rise in the adoption of various fitness apps for maintaining a healthy lifestyle. However, the high cost of fitness apps is expected to hamper the market growth. The digitalization of the healthcare industry in developing countries creates growth opportunities for the global fitness app market during the forecast period.

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Competitive Leaderboard: 

Leading players in the fitness apps market include Grand Apps, Asics Corporation, Azumio Inc., Wahoo Fitness, Under Armour Inc., Adidas AG, Nike Inc., Lenovo Group Ltd., TomTom International BV, Samsung Electronics Co. Ltd., and Google LLC. 

Segmentation:

The global fitness apps market is segmented on the basis of type, platform, device, type, and region. 

By type, the global fitness apps market is segmented into workout and exercise apps, disease management, lifestyle management, nutrition and diet, medication adherence, and others. 

By platform, the global fitness apps market is segmented into Android, iOS, and Windows. 

By device type, the global fitness apps market is segmented into smartphones, tablets, and wearable devices. 

Regional Analysis:

North America held a dominant 38% share in the global fitness apps market in 2018. The market was valued at USD 16.82 billion and is expected to exhibit a strong 28.35% CAGR over the forecast period. 

Covid-19 Impact:

A fitness application or app is a software solution used for its various health-oriented functionalities that help individuals in setting up duration-bound fitness goals, monitoring calorie consumption, collecting workout ideas, and the determining the individuals’ current health status. Fitness apps are designed to work specifically on smartphones since they are the most commonly used handheld devices today.

The number of coronavirus infected patients is rising rapidly across the globe, which, in turn, has forced the government authorities to enforce lockdown to prevent further spread. This has resulted in the majority of the human population staying at home to protect themselves from the disease. Moreover, the pandemic has resulted in severe losses to the companies that are part of verticals such as airlines, oil & gas, automobiles, tourism, food & beverage, and so on. But this is conversely applicable to the fitness app market. Fitness app companies have been trying to innovate their applications by user engagement through workout and fitness awareness programs. In the United States, the average time spent by an individual on a fitness app has gone up from approximately 15 hours a week in 2019 to 25 hours a week during this lockdown. The Aarogya Setu app launched by the government of India in April 2020 has recorded about 98 million downloads. About 1.4 lakh users have been alerted about potential infection risks.

Application development companies are launching fitness apps that help users in their workout regime without the use of gym equipment. Also, the developers are now offering fitness as well as healthcare applications. For instance, the fitness app ‘Strava’ provides advice on optimization of heart rate-focused workout sessions and cross-training, among other functionalities, based on the users’ experience of workouts. Furthermore, another fitness app—Runtastic, is offering its users a 3-month free trial.

Several such initiatives and focused digital marketing strategies are expected to bring lucrative opportunities to the fitness app market, considering the current market conditions.

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