Key Trends In Fitness Tech That Investors Need To Be Aware of In 2022
March 14, 2022 (Investorideas.com Newswire)
Healthy technology and fitness apps are both trendsetting as the latest craze in 2022! Partly because the pandemic pounds have many looking to find innovative ways to shed their undesired weight. More recent public health and safety concerns, combined with the importance of living a healthy lifestyle have been shining some serious light on overall fitness. It is no wonder savvy investors, both at the institutional and retail level, seem to be riding this surge of new opportunity.
SoftBank Group Corp.'s Vision fund led a $360 million funding round for China's most popular workout app Keep. And it has been buzzing like never before. With access to gyms limited and many left in need of creative workout motivation, the Keep app has skyrocketed in popularity. The app is now valued at about US$2 billion after investors poured in due to predictions for huge continued success. With over 38 million active users monthly, fitness apps are proving to be a valid new trend, and valuable at that. The trend is not only in China, but has hit the U.S. in a major way as well. Investors have poured $7.3 billion into the U.S.-based fitness apps and platforms over the last five years, a staggering growth. The World Economic Forum reports that fitness apps grew 50% in the first half of 2020.
With all of this insight, it is not at all a surprise that smaller fitness startups in the U.S. are taking advantage of the uptick in investment activities by launching all sorts of crowdfunding campaigns. One smart company that understands the trending investment and funding opportunities for fitness apps is Paid Workout. This new fitness motivation app is revolutionizing the way people workout by incentivizing fitness for pay, competition and sense of community so many have lacked during lockdown. People are getting paid to workout with Paid Workout, having already given away more than $75,000 in cash. Anyone and everyone can join fitness challenges from all over the world, compete to win cold hard cash, and be a part of a supportive community. Users can also choose challenges according to their personal fitness levels if so desired, or challenge themselves with competitors at higher levels.This unique fitness tech company recently launched their own campaign and has already secured some major financial support.
As investors plan their strategies for this New Year ahead, here are a few trends taking place in the health and wellness sector that they may want to be on the lookout for;
Mental health startups
Investors have poured over $1B into mental health and wellness startups in 2020 which is the most of any category. It's a trend we'll continue to see. Here's why. After the world shut down and many were in isolation for over a year, it left many mentally compromised.
Community fitness and online classes.
More than ever, people are looking for innovative ways to be a part of a supportive community while at home. Some are still skeptical about going to gyms and fitness classes amid the Covid-19 pandemic. However, the desire to be a part of a supportive community is still there. Therefore, online virtual fitness classes that allow those wanting to get fit with a group of like minded individuals will continue to be popular.
Fitness App Uptick with Gamification
Mobile apps for fitness are anticipated to continue to trend this year as many may still be working out from home. In fact, some people feel like the right app can actually serve like a personal trainer that can keep them on task and motivated towards their goals. Furthermore, when you add gamification to the app platform, not only does it provide fun and community engagement, but also the excitement of being able to cash in on your accomplishments.
Ultimately, every coach needs a coach! This couldn't be more true for many as we walk into 2022. The global shut down left many without a regular fitness regimen for over a year. Therefore, people are lost and need reminders on what to do. In addition, they need the extra motivation from a coach that won't let them quit or throw in the fitness towel.
Health and wellness is a critical topic in today's society. Countless Americans are searching for creative ways to make fitness a priority. The search is a successful one with many finding motivation at their fingertips. Thanks to investors that understand the value of innovative wellness, health tech and fitness Apps are able to bring help to those that need it.
With all the upcoming trends and new health tech and fitness apps on the horizon, 2022 will be a great year for investors. Just like the Peloton, we can expect to see new and upcoming platforms and apps gain momentum due to generous supporters.
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