eServices fitness market to hit $22.5 billion in revenue by 2020 — Apple World Today

Everyone from beginners to committed exercisers can access studio-style workouts delivered by inspiring world-class trainers and underscored by motivating music from renowned artists.In 2017, the global eServices fitness industry generated $14.8 billion in revenue, revealed Statista Digital Market Outlook. In the next twelve months, this figure touched $16 billion and continued rising. By the end of 2019, revenues hit $17.2 billion, a 15% jump in two years. Statistics indicate the global eServices fitness industry surged by 51.5% since 2017.

Wearables represent the market’s largest segment, with a projected volume of nearly $19 billion in 2020, a 30.6% increase compared to 2019 figures. The fitness apps segment is expected to grow by almost 32% to over $3.5 billion in revenue this year.

Statista Digital Market Outlook data also showed the number of users in the global eServices fitness market is forecast to jump by 25% year-over-year to over 1.2 billion in 2020. Statistics indicate the number of people using fitness, and nutrition apps is set to rise to 825.7 million in 2020, a 26% increase in a year. The number of users in the wearables segment is forecast to grow 24% year-on-year to 441.5 million.

According to a Statista survey, Millennials (people between 25 to 34) and Gen X (between 40 and 55) represent the major user groups, with 35% and 41% share. The average revenue per user in the apps segment is projected to amount to $4.30 in 2020, compared to $4.17 last year. Statistics show the average revenue per user in the wearables segment will rise to $43 this year, up from $41.47 in 2019.

(Dennis Sellers has been covering the Apple industry since 1996. In addition to“Apple World Today,” he also runs his own freelance writing/editing service. If you want more info about the latter, email him at dennis.sellers@comcast.net.)