The implication of conserving health, and fitness, as well as the technology, assist in achieving the goals of the individual as well as organisation. It came to the forefront during the pandemic when people strumbled with the fear of Covid, says Shivjeet Ghatge, CEO & Co-founder, StepSetGo in a conversation with Elets Technomedia.
Q1: How is technology making healthcare affordable and accessible?
The modern healthcare system depends laboriously on technology. It is not only enhancing healthcare, but also fitness, and the lives of countless people. The significance of preserving health and fitness, as well as the technology that aids in reaching these goals, came to the forefront during the epidemic as people struggled with their fear of contracting the Covid virus. This was made possible by StepSetGo’s ground-breaking app, which rewards users for staying fit. The goal of this app is to encourage more people to maintain an active and healthy lifestyle. Affordable health care services are crucial in a large and diverse nation like India, and linking them with technology helps severely. The StepSetGo (SSG) app also intends to be a platform for individuals who wish to work toward fitness. Not only is the app free to use, but it also rewards you for your daily exercise. Users can earn an SSG coin for every 1000 steps they walk.
Q2: How have health start-ups changed the industry paradigm?
These days, startups are ushering in a period of tremendous change and innovation. India has the third largest startup environment in the world, according to NASSCOM. As per the Department for the promotion of Industry and Internal Trade, India has nearly 61,400 startups. Among these, are several active health IT startups, which help to bridge the gap between the demand for healthcare and the supply. Wearable devices monitor health by tracking health metrics, whereas the StepSetGo app rewards users for maintaining their fitness levels. It’s the implementation of these technologies that are bringing about a paradigm evolution in the healthcare sector, enhancing healthcare services.
Q3: The projected growth of the fitness app industry
According to a survey by Business Wire, the fitness app market is anticipated to reach USD 4.8 billion by 2030 and grow at a CAGR of 17.6% throughout that time. The health technology market in India is expanding at a CAGR of 39% and is expected to reach $5 billion by 2023, according to an IMAI Praxis analysis. Downloads of fitness applications have surged by 46%, according to a World Economic Forum survey, and this trend will continue to grow as more people use smart devices.
Q4: Factors fueling and influencing the growth of the fitness app industry
Fitness is a significant sector of the IT industry, which may be attributed to several reasons, including people’s increased online activity, awareness of the value of fitness, and the availability of apps like StepSetGo that make it simple to stay in shape. The use of smartphones has increased, and people are switching from traditional workouts to virtual ones – each of these factors contributes to the popularity of fitness applications.
Q5: How is Artificial Intelligence impacting healthcare?
AI is becoming more proficient at performing tasks that humans do, quicker, and more affordable. Maintaining people’s health and fitness is one of AI’s largest potential edges. With its inbuilt automated intelligence, the StepSetGo app tabs and tracks user motions and categorises them to incentivise users. AI increases the ability of healthcare professionals to better understand day-to-day patterns. Whereas, apps for technology such as StepSetGo urges people to act in healthy ways. Altogether, these aid in proactive lifestyle and health management while assisting users in taking charge of their well-being.