Virtual/Online Fitness Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Technology & Media Report Format : PDF Report Code: ZMR-5677 Status : Upcoming

Description

Global Virtual/Online Fitness Market: Overview

Online or virtual workout is the ultra-modern fitness evolution. It is a comfortable wellness solution or service for the customers to approach a health instructor or trainer virtually instead of physically visiting the site. These virtual/online fitness platforms allow the users to stay in shape without having to leave their homes. People living busy lifestyles usually choose this option because of its convenience. Virtual workout applications have witnessed an improved demand due to the growth in the number of people opting for such learning platforms.

Global Virtual/Online Fitness Market: Growth Factors

The accessibility of high speed network connectivity over the developed as well as developing nations has allowed the fast streaming of videos. This growth factor is expected to impact the global virtual/online fitness market expansion in a positive manner due to the rising demand for video streaming. Also, the widespread usage of internet has led to a surge in the adoption of internet fitness platforms and applications among health conscious people. These mobile applications provide a convenient workout experience anywhere, anytime.

The rapid digitalization coupled with the trending fitness devices such as activity trackers and other equipment has allowed the end-users to record health variables which include calorie consumption & output and pulse rate. This innovation in technology is attracting a larger base of customers, especially the younger population, towards the adoption of online or virtual fitness platforms and apps.   

The COVID-19 episode is expected to drive the demand for global virtual/online fitness market share because gym enthusiasts are exhibiting preference for internet classes and training sessions to maintain physical distancing to stop the spread of the deadly virus. The temporary shutdown of gymnasiums and fitness clubs due to the lockdown restrictions put forth by the government bodies of several COVID-19 affected countries has stimulated the establishments to provide and develop live or pre-recorded workout sessions or classes.

However, the lack of robust network connections across the various developing nations is anticipated to hamper the global virtual/online fitness market growth. The absence of good quality and high speed internet results in buffering of videos, interruptions during fitness sessions, and also demotivates the user to utilize such fitness platforms. Additionally, the high costs associated with creating video content due to extensive use of resources during recording a session will prove to slow down the market growth in the forthcoming years. Recording a fitness video or session requires a studio, a professional content team, cameramen & videographers, lighting, actors, and even a professional fitness coach. These factors add to the costs of developing content.

On the other hand, the rise in internet penetration across multiple underdeveloped and developing countries is expected to procure several growth opportunities for the global virtual/online fitness market during the forecast period.

Global Virtual/Online Fitness Market: Segmentation

The global virtual/online fitness market forecast has been differentiated on the basis of streaming type, by session type, by device type, by end-use, and by region. The global market, based on streaming type, can be bifurcated into live and on-demand.

In terms of session type, the global virtual/online fitness market is segregated into group and solo. By device type, the industry can be divided into smart TVs, laptops, desktops & tablets, smartphones, and others. On the basis of end-use, the global virtual/online fitness market has been categorized into individuals, educational & sports institutes, professional gyms, corporate institutions, and others.

Global Virtual/Online Fitness Market: Regional Analysis

The virtual/online fitness market in Asia Pacific is poised for exponential growth rate over the upcoming period due to the rising internet penetration, drastically increasing utilization of portable devices such as smartphones, tablets, & laptops, increasing disposable incomes, rising standard of living, growing preference for active lifestyles, surging awareness regarding health maintenance, and rising instances of lifestyle-related disorders such as diabetes, high or low blood pressure, obesity, congenital heart disease, and stroke. Additionally, several countries such as Japan, India, Malaysia, South Korea, Indonesia, and China are increasingly adopting virtual fitness platforms.

Global Virtual/Online Fitness Market: Competitive Players

The prominent companies leading the global virtual/online fitness market are launching fitness-related apps and platforms or even websites to provide seamless physical training experience through the means of digital media and health professionals.

A few of the notable industry participants operating in the global virtual/online fitness market comprise ClassPass Inc., Econofitness, Fitness First, Fittr, Les Mills International Ltd., Navigate Wellbeing Solutions, Peloton, Sworkit, Reh-Fit Center, Viva Leisure, Wexer, Charter Fitness Inc., Conofitness, Fit n Fast Health Clubs & Gyms, FitnessOnDemand, GoodLife Fitness, MoveGB, Peerfit, Inc., Zwift, and Wellbeats, Inc.

Global Virtual/Online Fitness Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

Table Of Content


Frequently Asked Questions

The accessibility of high speed network connectivity over the developed as well as developing nations has allowed the fast streaming of videos. This growth factor is expected to impact the global virtual/online fitness market expansion in a positive manner due to the rising demand for video streaming.

The virtual/online fitness market in Asia Pacific is poised for exponential growth rate over the upcoming period due to the rising internet penetration, drastically increasing utilization of portable devices such as smartphones, tablets, and laptops, increasing disposable incomes, rising standard of living, growing preference for active lifestyles, surging awareness regarding health maintenance, and rising instances of lifestyle related disorders such as diabetes, high or low blood pressure, obesity, congenital heart disease, and stroke

A few of the notable industry participants operating in the global virtual/online fitness market comprise of ClassPass Inc., Econofitness, Fitness First, Fittr, Les Mills International Ltd., Navigate Wellbeing Solutions, Peloton, Sworkit, Reh-Fit Center, Viva Leisure, Wexer, Charter Fitness Inc., Conofitness, Fit n Fast Health Clubs & Gyms, FitnessOnDemand, GoodLife Fitness, MoveGB, Peerfit, Inc., Zwift, and Wellbeats, Inc.

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