A new market research report finds that global AI in fitness and wellness is projected to reach $34.73 billion by 2031, with a compound annual growth rate of 19.5% during the forecast period.
Beyond the eye-watering numbers, the report—conducted by InsightAce—explores several key areas where artificial intelligence is enhancing the fitness and wellness space, including its ability to help consumers interact, compete and collaborate in virtual fitness communities worldwide.
AI also promotes accountability, according to InsightAce’s findings, with demand driven by businesses looking to support employee productivity and well-being through wellness coaching, health mentoring and AI-based workout challenges.
The report highlights major players in the AI fitness and wellness market, including Apple, Google, Samsung, Garmin, MyFitnessPal, Nike, Viome, Technogym, Tonal, Orangetheory, Zwift and Peloton.
Apple Fitness+ has already hit the ground running this year, with a new Fitness+ experience available for fitness enthusiasts via iPhone, iPad and Apple TV. The tech giant has launched several programs tapping into the most popular trends: progressive strength training, pickleball training, meditation and dance fitness. Meanwhile, Garmin recently teamed with wellness tech leader Therabody to advise users on personalized recovery reccomendations using the health and activty data collected by Garmin smartwatches and other paltgorms, such as Apple, Google and Strava.
InsightAce also notes that advancements in augmented reality and virtual reality are creating more opportunities for health and wellness, such as dynamic training experiences.
One challenge is growing privacy concerns, particularly with AI systems collecting personal health and fitness data amid rising breaches and misuse. Nevertheless, North America is expected to see a major market share in revenue, according to InsightAce.
InsightAce’s report can be found here.
