Global Virtual Fitness Market Forecast, Trend Analysis And Competition Tracking - Global Market insights 2015 to 2031

Virtual Fitness Market Introduction:

The Global Virtual Fitness Market was estimated to be valued at US$ 8.1 Bn in 2020 and is also projected to register а САGR of 30.5% by 2031.

Virtual fitness is an interactive exercise that does not require any equipment. Additional exercises with equipment often supplement it to achieve complete fitness. Virtual fitness can be performed anytime, anywhere, and the individual fully controls their workout.

Some virtual fitness programs are designed to help lose weight, while others are designed to improve overall physical condition.

There is a surge in the number of internet and smartphone users in developed and developing countries. In addition, the fitness industry knows the importance of courses for building a community and committing to regular exercise.

Several companies are focusing on transferring at least some courses online, and customers are also ready to register. Between March and August 2020, Uscreen’s own data showed that the streaming of health and fitness content increased by 1,300%.

Sona Online hosted a series of fitness classes in their online library and through live streams including aerobics, core, HIIT, etc. Sona’s team also launched the Apple Watch app to capitalize on the growth of wearable fitness trackers.

Virtual fitness is a way of getting exercise at home or on the go without ever needing to leave your house. The North American region in the global virtual fitness market is expected to dominate the owing to its high adoption rates and high population density.

The increasing awareness of individual health and high penetration of smartphones and the internet is expected to have a positive effect on the target market

The increased demand for virtual fitness exercises results from the modernization of society and the growing awareness of the health benefits. The user base for these programs has been steadily increasing with time because it provides a convenient and accessible way to exercise from home.

It also offers a more interactive experience than alternatively offers traditional gyms. Such factors are expected to propel the demand for virtual fitness and have a positive impact on this target market.

More and more people choose on-demand streaming media workouts instead of on-site gyms because this allows them to choose the exercise style and intensity level that suits their specific needs, regardless of the course schedule.

In addition, the live streaming programs are expected to witness the highest growth as it is popular among daily exercisers and individuals willing to be consistent and responsible for the format and schedule of fitness programs.

COVID-19 Impact Analysis on Virtual Fitness Market

The COVID-19 pandemic has disrupted people's lives, leading to further closures of fitness centers such as gyms and other health clubs. As people start exercising at home, the rapid adoption of virtual fitness solutions will support the market.

Virtual fitness becomes an excellent alternative to regular exercise while maintaining social distancing. Due to the sudden outbreak of the COVID-19 pandemic, the growth rate of the global virtual fitness market has accelerated for several years.

Many countries have implemented blockades to curb the spread of the virus and restrict people's movement and physical activity. Due to lockdown restrictions, the gym was also closed. This has a serious impact on people's physical and mental health.

Factors affecting the demand for Virtual Fitness

The interruption of the course flow due to technical failures and the lack of real interaction with the coaches may hinder the adoption and revenue growth of the online/virtual fitness market to a certain extent.

Global Virtual Fitness Market Regional Analysis

The growth in North America is mainly due to the increasing prevalence of chronic diseases such as diabetes, obesity, and cardiovascular diseases, and the increasing demand for innovative fitness platforms. In addition, type 2 diabetes is the most common disease in the United States, and approximately 85% of cases are caused by a sedentary lifestyle and obesity.

In addition, according to the 2019 Youth Risk Behavior Monitoring System (YRBSS), 15.5% of high school students in the United States are obese and 16.1% are overweight. The above figures show the necessity of innovative fitness platforms and health awareness programs. Especially in educational institutions, it is expected to increase significantly, which may further create favorable conditions for the virtual fitness industry in the region.

The healthcare industry is another key adopter of virtual fitness programs, as this form of exercise can benefit individuals with mobility issues or chronic conditions.

More and more people tend towards physical health, the existence of several large companies and more and more people realize the importance of health and wellness. Among the American people, the existence of several health and wellness organizations impacts personalization.

The focus on nursing and precision medicine and the increasing use of AR and VR technologies in exercise contribute to the growth of the global virtual fitness market in this region.

Some notable developments in the market include:

• American digital fitness solution FlexIt announced the launch of FlexIt’s Connected Training product, a new and most advanced tool that allows trainers to design interactive and personalized exercises.
• LifeSpeak Inc. acquires LIFT Digital Inc. to capitalize on the rapidly growing global demand for corporate health solutions.
• Fit India is the flagship fitness sport of the Indian government. It cooperates with India's Central Committee of Secondary Education (CBSE) to provide on-site fitness courses for school students by expert trainers during the pandemic.

Competitive Landscape For Virtual Fitness Market

The Virtual Fitness landscape appears highly consolidated, with a major chunk of it being dominated by below players.

• Fitbit, Inc
• FitnessOnDemand
• Wellbeats, Inc
• REH-FIT
• Sworkit
• ClassPass, Inc
• Peloton
• SWIFT, Inc
• Les Mills International, Ltd
• Navigate Wellbeing Solutions.
• Other Key Industry Players

Report Scope

• Forecast Period: 2022-2031
• Actual Year: 2021
• Historical Data Available for: 2015-2020

Key Regions Covered

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Segments Covered

Global Virtual Fitness Market, By Session Type

• Solo
• Group

Global Virtual Fitness Market, By Streaming Type

• Live
• On-demand

Global Virtual Fitness Market, By Device Type

• Smart TV
• Smartphones
• Laptops Desktops & Tablets
• Other Device Types

Global Virtual Fitness Market, By End User

• Professional Gyms
• Sports Institutes
• Defense Institutes
• Educational Institutions
• Individuals
• Other End-Users

Global Virtual Fitness Market, By Revenue Model

• Subscription
• Advertisement
• Hybrid