Digital Fitness & Well-Being - Estonia

The Digital Fitness & Well-Being market in Estonia is projected to reach a revenue of US$21.55m in 2024.
It is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 7.77%, resulting in a projected market volume of US$31.33m by 2029.
The user penetration is expected to be 39.16% in 2024 and is projected to increase to 50.70% by 2029.
The average revenue per user (ARPU) is expected to be US$41.71.
In a global comparison, United States is forecasted to generate the most revenue with US$14.82bn in 2024.
Estonia is a pioneer in the digital health market, with a growing number of innovative digital fitness and well-being solutions being developed and adopted by its tech-savvy population.

Definition:

The Digital Fitness & Well-Being market includes the Fitness Trackers and Health & Wellness Coaching markets. The Fitness Trackers market covers devices that are explicitly intended for fitness and motion tracking. The Health & Wellness Coaching market includes fitness apps for detecting/tracking/analyzing and sharing vitality and fitness achievements. It also covers nutrition and diet apps, which help users analyze their nutrition behaviors and keep a record of their eating patterns with the purpose of improving their health.

Structure:

The Digital Fitness & Well-Being market consists of two product categories: fitness trackers, such as smartwatches, smart scales, and activity trackers; and health and wellness coaching, which includes fitness apps for detecting/tracking/analyzing and sharing vitality and fitness achievements, as well as nutrition and diet apps.

Additional Information:

The market data comprises revenue, average revenue per user, users, and user penetration rates.

The data only reflects B2C revenues; B2B and C2C revenues are not covered.

Smartwatches
Fitness/activity tracking wristwear
Smart scales
Fitness apps that track fitness achievements
Nutrition apps (e.g., calorie counters)
Meditation apps
Mindfulness apps

Smart clothing
Smart shoes
Smart eyewear
Health tracking apps
Parameter-specific biosensors that measure blood pressure, temperature, blood glucose, etc.
Apps that focus on specific physical diseases

The Digital Fitness & Well-Being market in Estonia is experiencing significant growth and transformation.

Customer preferences: In Estonia, customers are increasingly turning to digital fitness and well-being solutions due to the convenience and flexibility they offer. Online doctor consultations are becoming more popular as people seek quick and accessible healthcare services. Additionally, digital treatment and care options are gaining traction as individuals look for personalized and efficient medical solutions.

Trends in the market: One notable trend in the Estonian market is the rise of virtual fitness classes and wellness apps that cater to the growing demand for at-home workout options. Online doctor consultation platforms are also seeing a surge in usage, especially in remote areas where access to healthcare facilities may be limited. Moreover, digital treatment and care services are evolving to provide virtual monitoring and follow-up care for patients with chronic conditions.

Local special circumstances: Estonia's relatively small population and high internet penetration rate create a conducive environment for the growth of the Digital Fitness & Well-Being market. The tech-savvy population in Estonia is quick to adopt digital solutions, making it easier for companies in the sector to penetrate the market. Additionally, the country's focus on innovation and digitalization in healthcare is driving the development of advanced digital health services.

Underlying macroeconomic factors: The Estonian government's support for digital health initiatives and investments in healthcare technology infrastructure are key macroeconomic factors influencing the growth of the market. The increasing healthcare expenditures and shifting demographics towards an aging population are also driving the demand for digital fitness and well-being solutions in Estonia. Moreover, the changing consumer behavior towards prioritizing health and wellness is fueling the adoption of digital health services in the country.

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenues and user data of relevant mobile applications and consumer electronics companies.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, population, internet penetration, smartphone penetration, consumer spending, and healthcare spending. 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.

Additional notes:

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

This report presents a comprehensive analysis and additional information on the Digital market, in a PDF format.