Growth in the health and fitness software market is expected to be driven by interest in personalized health solutions, mergers and acquisitions, and virtual offerings, according to a new report
According to a recent report from Market Research Intellect, the health and fitness software market is poised to grow significantly, with an expected growth rate of 13.83% from 2024 to 2031, reaching a staggering $19.1 billion.
What is expected to drive this surge? Not surprisingly, more consumers are focusing on personal health and wellness, with many seeking digital solutions to set fitness goals, track progress and personalize their exercise plans. Virtual fitness classes, online coaching, wearables, and mobile apps are also contributing to the outlook for the health and fitness software space.
However, one of the report’s most noteworthy insights is the critical role played by mergers and acquisitions (M&A) in market expansion. As market research intelligence points out, M&A activity can address challenges and support companies in penetrating new markets, thereby driving overall growth.
In fact, the fitness industry saw one of the biggest deals this year in the merger of equals between Orangetheory and Anytime Fitness parent company Self Esteem Brands. Both companies are now part of Purpose Brands, which is the new name of the holding company.
The report also provides an in-depth look at technological advancements in the health and fitness software space, which in turn provide improved solutions to streamline operations and enhance product quality. Market Research Intellect found that some regions such as North America, Europe, and Asia-Pacific have favorable policies and incentives to support investment and growth, further driving the market.
There have been several software-related deals this year, especially in the commerce space—PushPress secured $20 million to promote its platform for gym owners, while Daxko partnered with Edge to increase member engagement, streamline operations, and improve health club staffing performance.
While North America is expected to hold a large share of the health and fitness software space, the report found that Europe is expected to post steady growth, led by Germany, France and the United Kingdom, in part due to supportive government policies. Nonetheless, Asia-Pacific is expected to be the fastest growing region due to rapid industrialization and urbanization, with China, India and Japan driving demand. Regions expected to experience moderate growth include Latin America, the Middle East and Africa.
Reports from Market Research Intellect can be found here.
