Health & Fitness - Serbia

Serbia

The Health & Fitness market in Serbia is expected to experience significant growth in the coming years.
According to projections, the total revenue in this market is estimated to reach €1.56m by 2022.
This reflects a promising outlook for the industry in the country.
Furthermore, the Health & Fitness market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 10.16% from 2022 to 2027.
As a result, the projected market volume is expected to reach €2.62m by 2027.
These figures demonstrate the potential for expansion and development in the industry withSerbia.
When considering the revenue breakdown within the Health & Fitness market, it is projected that in-app purchases (IAP) will contribute €1,276.00k in revenue by 2022.
Additionally, paid app revenue is expected to reach €178.80k, while advertising revenue is projected to amount to €100.50k.
These numbers highlight the various sources of income within the market.
In terms of user engagement, the number of downloads within the Health & Fitness market is anticipated to reach 8.55m downloads in 2022.
This indicates a growing interest in health and fitness-related applications among consumers in Serbia.
Moreover, the average revenue per download is currently estimated to be €0.18.
This figure reflects the average amount of revenue generated per individual download within the market.
In a global context, it is interesting to note that in China generates the highest revenue in the Health & Fitness market, with a projected revenue of €1,524.00m in 2022.
This serves as a benchmark for comparison and highlights the potential for growth within Serbia's Health & Fitness market.

Key regions: Europe, Germany, South Korea, Japan, Asia

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

Since the start of Apple, Inc.'s App Store in 2008 with around 500 apps, mobile apps have come to dominate the digital economy and have quickly outpaced the demand for desktop applications. As of 2021, the Apple App Store and Google Play Store had more than 5 million apps combined. Because many apps from the West are not available in China, many new app stores have emerged there. Digital lifestyles around the world now depend on adopting mobile apps, especially when it comes to social networking. The games industry has also been thoroughly transformed by the app revolution and is demonstrated by the fact that the games category is the largest and highest-grossing app category.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenue from in-app purchases, revenue from the purchase of apps, and revenue from advertising, as well as the number of downloads for each app category.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use market data from independent databases and third-party sources, current trends, and reported performance indicators of top market players. In addition, we use relevant key market indicators and data from country-specific associations, such as smartphone users and mobile broadband connections. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward apps.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year in case market dynamics change.