In 2020, the revenue is expected to stand at $3.55 billion while in 2024, the figure will be $5.72 billion. Over the next four years, notable growth will be recorded between 2020 and 2021 at 13.29%. In 2022, the revenue is projected to be $4.47 billion and later grow to $4.89 billion in 2023.

The research also overviewed the global user growth for fitness apps between 2020 and 2024. This year, the users will around 825.7 million while in the next four years, the figure will hit 1.03 billion, a growth of 25.14%.

By next year, the users will stand at 886.4 million and later grow by about 6.28% to 942.08 million in 2022. In the next three years, the users will be at around 990.7 million.

The research also delved into possible factors that will contribute to the growth. According to the report:

"Factors such as an increasingly obese population, changing lifestyle, rising health concerns are also playing a role in driving growth in the sector. Other factors include the increasing occurrence of diseases associated with obesity, increasing disposable income, and increasing awareness regarding health."

Different vendors in the space are putting more focus on apps that offer personalized health and fitness goals.