The AI in Fitness and Wellness Market Size is valued at USD 8.60 billion in 2023 and is predicted to reach USD 34.73 billion by the year 2031 at a 19.5% CAGR during the forecast period for 2024-2031.
AI is changing the way people think about their health by giving them personalized workout plans, feedback in real time, and more advanced health tracking. Apps and gadgets that are powered by AI, like fitness trackers and smartwatches, look at information like heart rate, activity levels, and sleep habits to help people get more out of their workouts and feel better overall. Virtual personal trainers and workout platforms driven by AI can make training plans just for each person based on their goals, progress, and personal tastes. AI also improves tracking nutrition, dealing with stress, and avoiding injuries. This makes exercise and wellness easier to access, more effective, and more tailored to each user.
Market growth is propelled by number of factors, including technological advancements, increasing demand for personalization, increasing health awareness, advancement in wearable technology, growth of digital wellness platforms, and many others. However, high costs of AI implementation and privacy and security concerns are likely to hinder market growth during the forecast period.
Competitive Landscape
Some Major Key Players In The AI in Fitness and Wellness Market:
- Fitbit
- Apple Inc.
- Google LLC
- Samsung Electronics Co., Ltd.
- Garmin Ltd.
- MyFitnessPal
- Nike, Inc.
- Adidas AG
- Under Armour, Inc.
- com, Inc.
- Microsoft Corporation
- IBM Corporation
- Xiaomi Corporation
- Polar Electro Oy
- Wahoo Fitness
- Orangetheory Fitness
- ClassPass Inc.
- Tonal Systems, Inc.
- Virtuagym
- Zwift, Inc.
- Technogym S.p.A.
- Asana Rebel GmbH
- Viome Inc.
- Mirror (Lululemon Athletica Inc.)
- Peloton Interactive, Inc
- Other Market Players
Market Segmentation:
The AI in the fitness and wellness market is segmented into type, application, and end user. As per the type segment, the market is segmented into AI-enabled fitness apps, AI-integrated wearable devices, virtual personnel trainers, and AI-powered smart gym equipment. By application, the market is segmented into personalized fitness recommendations, health monitoring and tracking, virtual coaching and training and smart nutrition and diet planning. Based on end users, the industry is bifurcated into individuals, fitness centres and gyms, healthcare facilities, sports teams and athletes.
Based On Type, The AI-Enabled Fitness Apps Segment Accounts For A Major Contributor To AI In The Fitness And Wellness Market.
The AI-enabled fitness Apps category is expected to hold a major share of the global AI in the fitness and wellness market. Demand for fitness apps that offer individualized training schedules, dietary guidance, and mental wellness support—all of which can be improved by AI—is rising as more and more individuals place a high priority on their health and wellness. Additionally, these apps are now more efficient and user-friendly due to ongoing advancements in AI technology, such as enhanced machine learning algorithms and natural language processing, which have increased adoption and retention rates. Additionally, the COVID-19 epidemic hastened the adoption of digital fitness solutions considerably. Because AI-enabled workout applications are flexible and convenient, many customers are sticking with them even after clubs reopen, which drives revenue growth.
The Personalized Fitness Recommendations Segment Witnessed Growth At A Rapid Rate.
Personalized fitness recommendations are projected to rapid growth in the global AI in the fitness and wellness market. One of the primary sources of revenue is the advancement of complex AI algorithms that can evaluate massive datasets and offer individualized, highly accurate recommendations. To provide individualized regimens, these algorithms take into account several variables, including the user's fitness levels, preferences, historical performance, and health data. Furthermore, customers may conveniently access customized fitness guidance at any time and from any location with the help of AI-powered personalized recommendations. Due to its accessibility, the market has grown, drawing in more people and raising potential sales.
In The Region, North American AI In The Fitness And Wellness Market Holds A Significant Revenue Share.
The North American AI in the fitness and wellness market is predicted to register the highest market share in the near future. One of the main factors in the region is the extensive use of wearables like fitness trackers and smartwatches. Strong market presences include Fitbit, Apple, and Garmin, among others, which offer AI-enhanced features that measure health indicators, offer individualized insights and inspire consumers. Furthermore, corporate wellness is becoming more and more important in North America. AI-driven wellness initiatives are becoming popular among businesses as a way to boost productivity, lower medical expenses, and improve employee health. The market is expanding as a result of this tendency. In addition, Europe is likely to grow rapidly in the global AI in the fitness and wellness market due to rapid digital transformation and rising awareness regarding fitness apps.
Recent Developments:
- In March 2024, Google integrated artificial intelligence into the Fitbit application to provide significant and personalized health insights. The AI functionalities of the Fitbit app, available via Fitbit Labs, are designed to analyze diverse health metrics obtained from smartphones and wearables.
AI in Fitness and Wellness Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 8.60 Bn |
|
Revenue Forecast In 2031 |
USD 34.73 Bn |
|
Growth Rate CAGR |
CAGR of 19.5% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Type, Application, End-User |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
Fitbit, Apple Inc., Google LLC, Samsung Electronics Co., Ltd., Garmin Ltd., MyFitnessPal, Nike, Inc., Adidas AG, Under Armour, Inc., Amazon.com, Inc., Microsoft Corporation, IBM Corporation, Xiaomi Corporation, Polar Electro Oy, Wahoo Fitness, Orangetheory Fitness, ClassPass Inc., Tonal Systems, Inc., Virtuagym, Zwift, Inc., Technogym S.p.A., Asana Rebel GmbH, Viome Inc., Mirror (Lululemon Athletica Inc.), Peloton Interactive, Inc. |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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