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Fitness Apps - Canada

Canada

The Fitness Apps market in Canada is expected to witness significant growth in the coming years.
According to projections, the market's revenue is estimated to reach US$164.20m Canadian dollars by 2024.
Furthermore, the market is anticipated to achieve a compound annual growth rate (CAGR) of 10.26% between 2024 and 2028, resulting in a projected market volume of US$242.70m Canadian dollars by 2028.
In terms of user penetration, the number of users is expected to reach 29,067,373.16% in 2024 and is projected to increase to 31,234,357.46% by 2028.
This indicates a growing interest and adoption of fitness apps among the Canadian population.
Looking at the average revenue per user (ARPU), it is anticipated to amount to US$21.31 Canadian dollars.
This figure provides insights into the average amount of revenue generated from each user of fitness apps in Canada.
When comparing the global market, in the United States is expected to generate the highest revenue in the Fitness Apps market.
Projections indicate that in the United States will generate approximately US$2,061.00m Canadian dollars in revenue in 2024.
This highlights the dominance of the United States in the global Fitness Apps market.
Overall, the Fitness Apps market in Canada is poised for growth, with increasing revenue, user penetration, and average revenue per user.
As the market continues to expand, it will be interesting to see how Canadian consumers embrace and benefit from these digital fitness solutions.
Canada's fitness app market is booming, with a wide range of apps catering to diverse fitness preferences and offering personalized workout plans.

Key regions: India, China, Japan, South Korea, Europe

Market

Region

Region comparison

Currency

Analyst Opinion

The Fitness Apps market is experiencing significant growth due to the increasing preference for fitness and wellness activities among customers. Customer preferences: Customers are increasingly looking for convenient and personalized ways to stay fit and healthy. They are turning to fitness apps as a convenient solution to track their workouts, set goals, and access personalized training programs. The ability to access workout routines and nutrition plans anytime, anywhere, is a key factor driving the popularity of fitness apps. Trends in the market: One major trend in the fitness app market is the integration of wearable devices. Fitness apps are increasingly being designed to work in conjunction with wearable devices such as smartwatches and fitness trackers. This integration allows users to track their fitness activities and monitor their progress more accurately. Additionally, fitness apps are incorporating social features, such as the ability to connect with friends and share workout achievements, to enhance user engagement and motivation. Local special circumstances: In certain countries, there are specific factors that contribute to the growth of the fitness app market. For example, in countries with high smartphone penetration rates, such as the United States and China, there is a larger customer base for fitness apps. Additionally, in countries with a strong fitness culture, such as Australia and Sweden, there is a high demand for fitness apps that offer a wide range of workout options and training programs. Underlying macroeconomic factors: The growth of the fitness app market is also influenced by underlying macroeconomic factors. For instance, the increasing disposable income in emerging economies is enabling more individuals to afford smartphones and access fitness apps. Additionally, the rising awareness of the importance of health and wellness is driving the demand for fitness apps. Moreover, the COVID-19 pandemic has further accelerated the adoption of fitness apps as people seek alternative ways to stay active and maintain their fitness routines while gyms and fitness centers are closed or operating at limited capacity.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenues and user data of relevant mobile applications and consumer electronics companies.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market market. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, population, internet penetration, smartphone penetration, consumer spending, and healthcare spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.