Are There Cheaper Alternatives To The Peloton?

The global home fitness equipment market size is projected to grow from USD 10.73 billion in 2021 to USD 14.74 billion in 2028.

In February 2021, for instance, Milt and Devon Linn announced their plan to open their 'smart fitness studio’ in West Chester next week.

It is called The Exercise Coach and relies on robotics and computers instead of dumbbells and treadmills.

Fortune Business Insights™ published this information in a new study, titled, “Home Fitness Equipment Market, 2021-2028.” As per the study, the market stood at USD 10.18 billion in 2020.

It will help the company to compete with the best-seller Peloton model.

The launch was supported by 1Rebel, a London-based boutique fitness studio.

As a founder, entrepreneur, or business owner you should know how to make a fitness app.For some, fitness is a way of life, while others want to be fit to fit in.Whatever the reason may be, today, it only takes one mobile application for anyone to start, continue, or speed up your fitness regimen.But how to create a fitness app?That is what we will discuss in this guide.For every sort of app development, there are two things to consider:The marketThe productThe market comprises the people who will use the product.The product is the fitness app itself.It is essential to understand both these domains for fitness application development.We will begin by first talking about a few reasons to create a market-ready fitness app.Moving on, you will get to understand:The business part of application developmentTypes of fitness applicationsIdea validationProduct DiscoveryTechnical Aspects of developmentTeam compositionTech stackCost to build an appWell, don’t be overwhelmed by the process.

We are here to help you understand everything.Plus, as it is said in the fitness world, “you must expect great things of yourself before you can do them.”So, sit back, read through our experience, and understand how to create the best fitness app.The Reasons to Launch a Fitness AppOne of the most important and incredible reasons to launch an app is pandemic.We empathize with the situation, but hear us out.Before the pandemic people used to go to the gym before or after work.But the global lockdown forced the people to arrest themselves inside their homes.This led to a surge in taking subscriptions of the existing online fitness applications.The World Economic Forum finds that there was a 46% increase in health and fitness apps downloaded in the pandemic across the globe.Although there were a lot of attempts towards fitness app development before the pandemic, the lockdown gave it a push.Now because the people were demanding a commodity, the supply has to be increased.One of the fitness applications, Myfitnesspal bagged $6.7 million in a single month (June).Isn’t that great?We can see another trend here.Before the people went to fitness applications, meditation applications also saw mass adoption.Case in point:Calm meditation application earned $8.5 million in April and $7.7 million in May.Not only this, when the lockdown shut the gym’s doors the owners went virtual.The International Health, Racquet, and Sportsclub Association (IHRSA) states that fitness is a $34 billion industry.This includes application, physical, and dietary organizations.And 20% of the American people have a fitness club membership.This is one of the reasons bigger fitness clubs went virtual.They understood how to make a great fitness app or hired fitness app developers for the same.This brings us to the second reason to know how to create a proficient fitness app.Market Growth Forecast and PotentialAs per MarketWatch, the global fitness application industry will grow to $15.96 billion by 2026.According to the report, three key drivers will contribute to this growth:Obesity in peopleChanging LifestylesPrioritizing the healthAnother market analysis platform predicts that between 2020 and 2027, the fitness app market will see a development of 21.30%.The gym owners-turned entrepreneurs are heavily investing in fitness application development to provide virtual classes.Virtual gym classes represent a successful business model.Case in point:ClassPass entered the Unicorn Club ($1 Billion) after their recent $285 million funding round.ClassPass is a studio-based fitness and wellness platform.So, there are two things we can deduce here:The existing gym owners, entrepreneurs, and businessmen are looking for ways to address their audience.Investors are also looking for similar products to invest in because the market is bright and under demand now.Another outstanding example is the Peloton fitness app.Just a few days in the lockdown and the Peloton recorded a 245% increase in its memberships.On the Business of Apps, you can see the Peloton App graph.It went uphill like a rocket.Within four days in March, the users of the Peloton App increased from 4000 to close to 20,000.There is a lot of growth potential in understanding how to build an efficient fitness app.But you should know the right method and stream ahead with a solid foundational idea.SpdLoad comprises a team of efficient and authoritative fitness app developers.Our flawless fitness or workout app development process is specifically curated to help you succeed.Let’s take up the business part first before moving on to the technical aspects of how to create a profitable fitness app.Interested to read more about the development tips?

Check out the guide on how to create a fitness app.