A new report shows the projected health and fitness software market growth is fueled by interest in personalized health solutions, M&As and virtual offerings
The health and fitness software market is on track for significant growth, projected to expand by 13.83% from 2024 to 2031, reaching a staggering $19.1 billion, according to a recent report from Market Research Intellect.
What’s expected to drive the surge? Unsurprisingly, growing consumer focus on personal health and wellness, with many seeking digital solutions to set fitness goals, track progress and personalize their workout plans. Virtual fitness classes, online coaching, wearable devices, and mobile apps are also contributing to the promising health and fitness software landscape.
However, one of the most noteworthy insights from the report is the pivotal role that mergers and acquisitions (M&A) play in the market’s expansion. As Market Research Intellect points out, M&A activities address challenges and support companies in penetrating new markets, driving overall growth.
Indeed, the fitness industry witnessed one of the biggest deals this year with Orangetheory and Anytime Fitness parent Self Esteem Brands in a merger of equals. The two are now housed under Purpose Brands, a new name given to the holding company.
The report also dives into tech advancements in the health and fitness software space, which, in turn, offer improved solutions to streamline operations and enhance product quality. Market Research Intellect finds that several regions (such as North America, Europe and Asia-Pacific) have favorable policies and incentives that support investment and growth, further advancing the market.
This year has seen several software-related deals, especially in the business space— PushPress secured $20 million to advance its platform for gym owners, while Daxko teamed with Edge to boost member engagement, streamline operations and elevate fitness club staff performance.
While North America is projected to hold a significant share of the health and fitness software space, the report finds that Europe is poised to experience steady growth, led by Germany, France and the U.K., in part because of supportive government policies. Still, Asia-Pacific is projected to be the fastest-growing region due to its rapid industrialization and urbanization, with China, India and Japan driving demand. Those expected to show moderate growth include Latin America, the Middle East and Africa.
Market Research Intellect’s report can be found here.
