The Evolving Landscape of Online/Virtual Fitness Market: Expected to Reach $250.7 Billion by 2032

As per the report published by Allied Market Research, the global online/virtual fitness market was valued at $14.9 billion in 2022, and is projected to reach $250.7 billion by 2032, growing at a CAGR of 32.7% from 2023 to 2032. The in-depth study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.

Key Takeaways:

• Based on device types, the online or virtual fitness market is categorized into smart TVs, smartphones, laptops, desktops, and tablets.
• In terms of streaming types, the live segment held the highest market share in 2022.
• Regionally, the Asia-Pacific region is expected to manifest the highest growth rate during the forecast period.

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Latest Trends in Online/Virtual Fitness Market:

• Fitness Gadgets: In today’s digital era, the rise of variable technologies such as smartwatches and fitness bands have gained huge traction. These days, people are more inclined to know how many calories they have burnt and how many steps they have covered every day. This has increased the reliance on fitness gadgets, helping individuals to monitor their health more conveniently.
• Weight Training and Strength Building: Post the Covid-19 pandemic people have become more health conscious. In online fitness platforms several trainers are emphasizing weight managing and strength building exercises. These exercises help people to reduce muscle mass and increase their bone density.
• Home Gym: Several online fitness programs motivate people to build a home gym to save time and perform exercises at ease. This concept has gained huge popularity these days as people struggle to go out for gyming while meeting their daily chores.
• Technological Integration: These days, many trainers are incorporating Internet of Things (IoT) technologies and AI-driven technology to offer personalized training to individuals for better results. For instance, SmartRun is an intelligent application for runners that helps them maximize the effectiveness of their training sessions and analyze their average step length by examining real-time heart rate data.

Prime Determinants of the Market:

The global online/virtual fitness market is experiencing remarkable growth due to the increase in focus of consumers toward healthier lifestyle and the growing popularity of flexible workouts and balanced diets among individuals. Furthermore, the increased healthcare expenses and limited access to costlier health treatments are further expected to increase the need for cost-effective fitness apps & websites that are easily accessible and affordable. Additionally, the increase in adoption of digital capabilities such as smart home gym equipment, wearable devices, smart scales, and apps are expected to create massive growth opportunities for the market during the forecast period.

Major Segments of the Market:

The global online or virtual fitness market is classified by streaming type, device type, session type, end-user, and revenue model. Based on streaming type, the market is further categorized into Live and On-Demand. Further, based on device type, it is segmented into smart TVs, smartphones, laptops, desktops, tablets, and others.  Depending on revenue model, it is divided into subscription, advertisement, and hybrid. By session type, it is bifurcated into group and solo. Based on end-user, the market is classified as professional gyms, sports institutes, defense institutes, educational institutions, corporate institutions, individuals, and others.

Regional Landscape:

The global online/virtual fitness market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The North America region is expected to hold the dominant market share during the forecast period, owing to the robust presence of numerous health and wellness organizations across the region. However, Asia-Pacific is predicted to grow at a noteworthy CAGR due to the rise in adoption of various technological advancements such as AR & VR and bio-sensing wearable devices to make exercises interesting and effective.

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Competitive Landscape:

• MINDBODY, inc.
• FitnessOnDemand
• Viva Leisure
• LES MILLS INTERNATIONAL LTD,
• Navigate Wellbeing Solutions
• Sworkit
• ClassPass
• Wellbeats, Inc.
• Fitbit
• REH-FIT

Important Questions Answered in the Study

• What factors are estimated to drive and restrain the market’s growth?
• What are the key companies operating in the market?
• Which region or sub-segment is expected to drive the market in the forecast period?
• What is the market size and growth rate of the global and regional market by various segments?
• Which company accounted for the highest market share?

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