North America Poised to Dominate Revenue Share in Global AI Fitness and Wellness Market: New Market Report
The global AI in fitness and wellness market is set to skyrocket to $34.73 billion by 2031, with North America poised to dominate revenue share, according to a new market report by InsightAce. The report highlights the significant growth potential in the industry, with a compound annual growth rate of 19.5% projected during the forecast period.
One key area where artificial intelligence is making a significant impact is in virtual fitness communities, where consumers can interact, compete, and collaborate on their fitness goals. AI is also driving accountability in the industry, with businesses utilizing wellness coaching, health mentoring, and AI-based workout challenges to support employee productivity and well-being.
Major players in the AI fitness and wellness market, such as Apple, Google, Samsung, Garmin, MyFitnessPal, Nike, Viome, Technogym, Tonal, Orangetheory, Zwift, and Peloton, are already making waves with innovative products and services. For example, Apple Fitness+ has launched new programs focusing on popular trends like progressive strength training, pickleball training, meditation, and dance fitness.
Despite the exciting growth prospects, there are challenges ahead, particularly around privacy concerns as AI systems collect personal health and fitness data. However, North America is expected to lead the way in revenue share, according to InsightAce’s report.
Advancements in augmented reality and virtual reality are also creating new opportunities for health and wellness, offering dynamic training experiences for consumers. The full report by InsightAce can be found on their website.
Overall, the future looks bright for the AI in fitness and wellness market, with North America at the forefront of driving innovation and growth in the industry.
