Problem
While physical activity is a massive $264.6 billion commercial segment in the US, there is a major divide because the US ranks 20th in physical activity participation comprising only 58 percent of Americans.Inaccessibility, time constraints, privacy, etc. are major hurdles against the desire to maintain fitness and general health among the people.Current fitness applications pose a problem of inconvenience in real-time posture tracking and feedback. Also, the on-demand video content doesn’t actually give you a personalized experience and the online trainer costs are quite expensive.The need for an affordable, remote, and intelligent fitness application seems to be very eminent.
Available Market and Research
The global fitness apps industry was accounted for $13.78 billion in 2020 and is expected to reach $120.37 billion by 2030,growing at a CAGR of 24.3% from 2021 to 2030.Approximately 213 million adults in the United States do not visit fitness facilities. Ironically 6.1 million American adults spent $397 million on unused gym memberships.We intend to address the young adult population of 56 million initially. Considering the initial segment as the people aged between 18-24 not visiting the fitness facilities there would be 5 Million users.
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