Dublin, Aug. 02, 2022 (GLOBE NEWSWIRE) — The “Global Online/Virtual Fitness Market Report 2022, By End User, By Revenue Model” report has been added to from ResearchAndMarkets.com offer.
The global online/virtual fitness market is expected to grow from $11.39 billion in 2021 to $16.15 billion in 2022 at a compound annual growth rate (CAGR) of 41.84%. The market is expected to reach $79.87 billion in 2026 with a CAGR of 49.12%.
The major players in the online/virtual fitness market are ClassPass Inc., FITBIT, INC., Fitness On Demand, Les Mills International Ltd., Navigate Wellbeing Solutions, Reh-Fit Centre, Sworkit Company, Viva Leisure, Wellbeats Inc., Zwift, Peloton Interactive, Inc., health clubs and gyms, Fast Lean Fitness Center and Gym, Charter Fitness Inc. and MoveGB.
The online/virtual fitness market includes sales of online/virtual fitness services and related products by entities (organizations, independent marketers and partnerships) that provide online access to health and wellness to consumers fitness conscious or people who might not be keen or able to visit a gym.
Virtual or online fitness is a convenient fitness/wellness service that allows users to access a trainer online/virtually rather than visiting the fitness center. Usually, fitness workout videos are provided on web dashboards or fitness apps managed by the fitness trainer. Additionally, virtual fitness sensors in smartphones and wearables enable various virtual fitness applications such as sleep monitoring and running pace tracking to improve users’ lifestyle and health.
The main devices used to access online/virtual fitness services are smart TVs, smartphones, laptops, desktops and tablets. Smart TVs and smartphones allow consumers to access online fitness services through apps and track physical activity. Laptops, desktops and tablets allow consumers to access online fitness services through apps and websites.
Major end users of online/virtual fitness include professional gyms, sports institutions, defense institutes, educational institutions, businesses and individuals. Professional gyms include fitness facilities, weight reduction clubs, health clubs, and exercise lounges.
Sports institutions include arenas, stadiums and sports clubs. Defense institutes offer various self-defense training, including martial arts lessons, the use of pepper sprays and other self-defense weapons. Educational institutions are involved in educational training and development. Individuals are the primary end-users of online/virtual fitness services such as exercise classes, yoga classes, meditation classes, sports classes, etc.
North America was the largest region in the online/virtual fitness market in 2021. Asia-Pacific is expected to be the fastest growing region during the forecast period. Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growing penetration of smart devices is expected to propel the growth of the online/virtual fitness market. Smart devices are devices that are connected to other devices or networks through different wireless protocols such as Bluetooth, Zigbee, NFC, Wi-Fi, LiFi, and 5G and help track a person’s daily activities.
Smart devices allow users to access fitness content online. According to a survey conducted in Australia, Belgium, China, Greece, Ireland, Italy, Saudi Arabia, Netherlands, Spain, Sweden, UK and USA by OMD Worldwide, a US-based media communications agency, it was found that 61% of people own a smart device. Hence, the growing penetration of smart devices is driving the growth of the online virtual fitness market.
On-demand offerings are a key trend gaining popularity in the online virtual fitness market. Online on-demand fitness services allow consumers to access fitness sessions at their convenience with their choice of workout programs, exercise difficulty levels, and trainers.
For example, in December 2019, a US-based manufacturer and distributor of fitness equipment launched Life Fitness On Demand, which is a library of digital classes available on the touchscreens of high-end Life Fitness cardio machines. On-demand classes are accessible on treadmills, ellipticals, climbers, cross-trainers and exercise bikes through the digital library.
In October 2021, LifeSpeak Inc, a leading provider of mental health and total wellness platforms, acquired LIFT Digital Inc, an online wellness company. With this acquisition, LifeSpeak aims to capitalize on LIFT’s customer base, which includes many blue-chip organizations, and execute on its plan to accelerate growth through acquisitions.
Countries covered in the Online/Virtual Fitness market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea South, the United Kingdom and the United States.
Main topics covered:
2. Characteristics of the online/virtual fitness market
3. Online/Virtual Fitness Market Trends and Strategies
4. Impact of COVID-19 on online/virtual fitness
5. Online/Virtual Fitness Market Size and Growth
5.1. Global Online/Virtual Fitness Historic Market, 2016-2021, USD Billion
5.1.1. Market Drivers
5.1.2. Market Constraints
5.2. Global Online/Virtual Fitness Market Forecast, 2021-2026F, 2031F, Billion USD
5.2.1. Market Drivers
5.2.2. Market Constraints
6. Online/Virtual Fitness Market Segmentation
6.1. Global Online/Virtual Fitness Market, Segmentation by Device Type, Historical & Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion
- Laptops, desktops and tablets
6.2. Global Online/Virtual Fitness Market, Segmentation by End User, Historical & Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion
- Professional gyms
- Sports institutes
- Defense institutes
- Educational institutions
- Corporate Institutions
6.3. Global Online/Virtual Fitness Market, Segmentation by Revenue Model, History & Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion
7. Regional and Country Analysis of the Online/Virtual Fitness Market
7.1. Global Online/Virtual Fitness Market, Split by Region, Historical & Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion
7.2. Global Online/Virtual Fitness Market, Split by Country, Historical & Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion
- Class Pass Inc.
- FITBIT INC.
- Fitness on demand
- Les Mills International Ltd.
- Browse wellness solutions
- Reh-Fit Center
- Sworkit Company
- Viva Leisure
- Wellbeats Inc.
- Interactive Peloton Inc.
- Health clubs and gyms
- Fast Lean Fitness Center and Gym
- Charter Fitness Inc.
For more information on this report, visit https://www.researchandmarkets.com/r/xp6l9a