The rising demand for fitness apps owing to the increasing awareness among people for health development is expected to propel market growth in the future. Increasing Awareness for Health Development and Rising Degitaliztion to Anticipate the Market Growthįitness apps are highly anticipated applications used by different age groups and growing technological advancements. The Fitness App market is anticipated to grow with a CAGR of 21.3% over the forecast period of 2019-2028. Under Armour reported that its revenue was down 23% in Q1 2020, and attributed 15 of these percentage points to “the decline related to COVID-19 pandemic impacts in the quarter”.DUBLIN-( BUSINESS WIRE)-The "Global Fitness App Market Outlook 2020: Global Opportunity and Demand Analysis, Market Forecast to 2028" report has been added to 's offering. In its Q1 2020 earnings announcement, Under Armour did outline plans to reduce operating expenses and prioritising liquidity. In 2018 Under Armour confirmed that there had a been a data breach that affected as many as 150 million MyFitnessPal users, stating that usernames, passwords and email addresses tied to accounts were exposed in the breach. Under Armour purchased a number of fitness apps around that period, including MapMyFitness for $150 million and Endomondo $85 million. The sports apparel and wearables tech company purchased MyFitnessPal in 2015 for roughly $475 million. This represented a year-on-year increase of 1.3% compared to May 2019. According to The Information, Under Armour is seeking buyers for its health and nutrition app MyFitnessPal, as the company looks to save costs during the COVID-19 crisis.Īs of May 2020, MyFitnessPal was the second top grossing health and fitness app worldwide, with revenue totalling $6.5 million that month, according to Sensor Tower.
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