January 2021
bwc20235

180
global virtual fitness app market
Global
Virtual Fitness App Market – Industry Trends & Forecast Report 2027
The global virtual fitness app market
is estimated to grow at a CAGR of 22.3% during the forecast period 2021-2027.
As per the analysis, the global fitness app market was valued at USD 3.43 billion
in 2020 and is anticipated to reach USD 18.91 billion by 2027. Global virtual
fitness app market mostly deals in wellness applications such as smartphones,
smart watches, tablets, and others. These applications track calories consumed,
client action, heart rate, pulse rate as well as the blood pressure of the user in response to the actions
performed by them. The growing number of wellness-conscious people, the rising
demand for customized fitness sessions, and the increasing demand for AR/VR-enabled
fitness apps are a few factors driving the growth of the global virtual fitness
app market.
Source: BlueWeave Consulting
Global Virtual Fitness App Overview:
Virtual
workouts or connected workouts involve the use of technology to help you work
out in the comfort of your home. It provides individuals with the feel of being
present in a gym with an instructor. Lack
of time or interest, loss of motivation, or even fear often prevent individuals
from working out regularly. Guided virtual exercise using technology can now
help individuals break those common barriers and indulge in exercising more
efficiently. Virtual fitness routines are specifically beneficial for working
employees struggling with time management as they can stream the classes
flexibly during any time of the day. A large number of sportsmen and athletes prefer
solo virtual workout sessions as personalized training and perfection in
exercise routines is important for them. Moreover, individual workout sessions also
allow sportsmen to communicate their day-to-day progress to their physical
trainers. What’s more, it also enables them to share the fitness parameters on
their digitally-connected fitness equipment such as fitness trackers, bikes,
treadmills, etc., with their trainers virtually.
Global Virtual Fitness App Forecast
and Trend
The Major Growth Drivers
Increasing Demand for Wearable
Devices
The global virtual fitness app market is likely to witness substantial
growth owing to multiple factors, such as –
·
Increasing demand for wearable devices
·
Increased awareness about healthy lifestyles
·
High disposable income
·
Obesity-related health conditions;
The overall number of connected wearable devices worldwide increased from
325 billion in 2016 to 722 billion in 2019. The number is further expected to reach
over one billion by 2022, thus propelling the market growth. Moreover, the
availability of numerous growth opportunities due to easy internet access, smartphones,
and increased demand in developing economies will further propel the market
growth.
Fitness App Equipped with Sensors
During the first half of 2020, fitness apps grew by almost
50 percent. Over 37000 apps are currently accessible on iOS and Android
devices. Virtual fitness apps can be easily installed on sensor-equipped mobile
devices to monitor user activity 24/7. Sensors in phone and wearable devices accumulate
data and offer recommendations regarding training programs for virtual
workouts, proper nutrition, weight loss, and a healthy lifestyle. Additionally,
the penetration of smartphones in the rural, as well as urban areas, are helping
people to engage more in virtual fitness apps, thereby, driving the global
fitness app market.
Restraints
High Cost of Content Creation
The high cost of content
creation for solo sessions, live sessions, and on-demand sessions has hindered
the market growth. The high cost of hiring trainers, fitness experts, gym
trainers, yoga instructors, and others, in addition to the charges per hour of
shooting time, camera team, video editing, has cumulatively increased the price
of content creation. These factors are restraining the growth of the global
fitness app market.
Impact of COVID-19 in the Industry
As
soon as the World Health Organization (WHO) declared the novel coronavirus
(COVID-19) as a pandemic, governments across the world had enforced nationwide
lockdowns. This step has significantly impacted the manufacturing supply
chains, trade, and related services. Because most of these industries have been
impacted due to the lockdown, it is expected that the demand would also get
impacted going forward.
The
market has seen an abrupt ascent in 2020 as more people worldwide began working
out from their homes during the lockdown time frame. Such advancement can be attributed
to the closure of gyms and wellness clubs across the world to prevent the transmission of COVID-19. Daily Burn, Inc., a
leading health and virtual fitness company, has witnessed around 268%
year-over-year increase in membership signups, during the COVID-19 pandemic. In
September 2020, the U.S. based consumer electronics and fitness company, Fitbit, declared
a free trial of its innovative home workout service--‘Fitbit Premium’, in order
to motivate people to stay healthy during the COVID-19 crisis. Such commendable
initiatives prove that the global demand for virtual fitness platforms has augmented
during COVID-19 pandemic.
Global Virtual Fitness App Market: By Streaming
Type
Based
on streaming type, the virtual fitness app market is segmented into (i) live
streaming and (ii) on-demand streaming. Amidst the segmentation, the on-demand
streaming type segment captured the major virtual fitness app market share in
2020 and is expected to retain its share during the projection period
2021-2027.
On-demand
virtual fitness is popular among clients as it offers access to a variety of
workout classes at their suitability. However, the live-streaming segment is
anticipated to register the highest CAGR during the forecast period, due to its
preference amid routine-oriented exercisers and fitness-freaks who want
reliable fitness-program layout and schedule in a live session.
Global Virtual Fitness App Market: By Session Type
Based on session type, the global virtual app
market is segmented into (i) solo and (ii) group sessions.
Over the estimated timeframe, the solo virtual
fitness app market would witness a significant growth rate in the forecast period.
Solo virtual fitness app is best for pursuing personalized activities that help
meet individual health objectives. Moreover, solo virtual sessions also improve
the client-trainer relationship. Additionally, solo exercise routines offer the
advantage of attending live or pre-recorded sessions according to individual
convenience and timetable. For people struggling with time management, these
routines are especially useful as they can flexibly stream the fitness classes
at any time of the day. These are a few factors
fueling the overall market growth.
Global Virtual Fitness App Market: By Device Type
Based on device type, the global virtual fitness
app market is segmented into smart TV, smartphones, laptops desktops &
tablets, and others. The smartphone sub-segment for the virtual fitness market
holds the largest share in the market and is likely to dominate in the forecast
period. This growth is mainly due to the increasing popularity of the
pioneering fitness apps such as Apple HealthKit, Samsung Health, Google Fit,
and LG Health. In addition to this, increasing smartphone penetration in
developing countries like India may also create a positive opportunity for
sub-segment growth. The number of smartphone users in India is estimated to
reach over 760 billion in 2021 , with
the number of smartphone users worldwide forecasted to exceed 3.8 billion users
in the same year. The massive adoption of smartphones will increase the usage
of mobile apps, which may also create lucrative market opportunities for the
virtual fitness platform in the coming years.
Global Virtual Fitness App Market: By Revenue Model
Based
on the revenue model, the virtual fitness app market is bifurcated into (i) subscription,
(ii) advertisement, and (iii) hybrid revenue model.
The
subscription revenue model segment recorded maximum growth in the virtual
fitness app market share in 2020 and is expected to maintain its dominance in
the coming years due to the growing popularity of subscription-based virtual
fitness training programs among fitness-conscious customers. The popularity of subscription-based
virtual fitness training programs is on the rise due to its cost-efficiency,
such as signing up with a coach in-person. Subscription-based fitness sessions
also offer a wide range of plans and discounts which has been attracting more customers.
Global Virtual Fitness App Market: By End User
Based on end-user, the market is categorized into defense institutes, educational institutions, professional gyms, sports institutes, corporate institutions, individuals, among others. Amidst the segmentation, virtual fitness app market growth is majorly supported by the individual end-user segment. Growing health issues due to sedentary lifestyles are contributing to the growth in the size of the virtual fitness market. Moreover, ever-increasing rates of obesity and associated disorders, including Type 2 diabetes, heart attack. etc., enable individuals to take individual fitness lessons to cope with specific health problems.
Global Virtual Fitness App Market: Regional insights
Based on regional insights, the
global virtual fitness app market is categorized into North America, Europe, the
Asia-Pacific, Latin America, and the Middle East & Africa. North America
dominates the virtual fitness app market due to the increasing number of health
and wellness organizations as well as the ever-increasing adoption of Augmented
Reality and Virtual Reality (AR & VR) technology for virtual workouts
across this region. North America is expected to maintain its market share
during the projected period.
Followed by North America, the Asia-Pacific region is expected to register the highest growth rate due to the widespread use of mobile devices and pro-fitness government policies enabling the exponential rise of adoption of virtual health solutions during the forthcoming period 2021-2027.India witnessed the highest increase in fitness app downloads in 2020. The usage of fitness apps in the country went up by by 156%, translating to 58 billion new active users. Since there is increased awareness related to fitness, healthy eating habits, weight loss; all this is promoting the global fitness app market by an increase in the demand for related product.
Competitive landscape
Key
players for virtual fitness app market are:Dom and TomTom, Grandapps,
MyFitnessPal Inc., WillowTree, Inc., Appster, Under Armour, Fitbit, Azumio,
ASICS, Motorola Mobility LLC, Runtastic Results, Kayla Itsines Fitness, Calorie
Counter & Diet Tracker and Other Prominent Players. Industry players are coming
up with advanced virtual fitness app platforms or dedicated websites to offer
sophisticated training sessions by fitness experts.
Life Fitness, a fitness equipment
market player, launched Life Fitness on Demand, which is a library of digital
classes available on the screens of Life Fitness premium cardio products. The
digital library includes on-demand classes available on treadmills, exercise
bikes, ellipticals, climbers, and cross-trainers. Moreover, industry players
are introducing customer-oriented online fitness training solutions to drive industry
growth globally.
Recent Development
·
In
February 2021, Fitbit and Diabetes UK entered into a 3-year partnership to help
tackle diabetes. Together they aim to educate Brits on the significance of understanding
their own health and how leading a healthier and more active lifestyle can play
a critical role in the prevention and management of all types of diabetes,
including Type-2 diabetes.
·
·
In
March 2020, Les Mills and TVNZ entered into a partnership to offer virtual
fitness sessions during the COVID-19 lockdown, particularly for the citizens in
New Zealand. These online workout sessions consist of meditation, HIIT sessions,
among many others.
Scope of the Report
Attribute |
Details |
Years
Considered |
Historical data – 2017-2019 Base Year – 2020 Forecast
– 2021 – 2027 |
Facts
Covered |
Revenue
in USD Billion |
Market
Coverage |
U.S,
Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South
Korea, China, India, Argentina, AUAE, South Africa, Saudi Arabia |
Product/Service
Segmentation |
By product, component, applications and region |
Key Players |
Key
players for Virtual Fitness App market are:Dom
and TomTom, Grandapps, MyFitnessPal Inc., WillowTree, Inc., Appster, Under
Armour, Fitbit, Azumio, ASICS, Motorola Mobility LLC, Runtastic Results,
Kayla Itsines Fitness, Calorie Counter & Diet Tracker and Other Prominent
Players. |
Scope of the Report
By Type
Ø Live
Streaming
Ø On
Demand Streaming
By Session Type
Ø Solo
Ø Group
By Device Type
Ø Smart
TV
Ø Smartphone
Ø Laptops
Desktops & Tablets
Ø Others
By Revenue Model
Ø Subscription
Ø Advertisement
End-User Industry
Ø Professional
Ø Gyms
Ø Sports
Institutes
Ø Defense
Institutes
Ø Educational
Institutes
Ø Corporate
Institution
Ø Individuals
Ø Other
By Region
Ø The
Asia-Pacific
Ø North
America
Ø Europe
Ø Middle
East & Africa
Ø Latin
America
We've been tracking the direct impact of COVID-19 on this market, and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Contact our sales team for more details at
Contact NowWHY CHOOSE US
-
24/7 Research support
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
-
Coustom Research Service
Ask the Analyst to customize an exclusive study to serve your research needs.
-
Quality & Accuracy
offers best quality reports based on various authentic and accurate data findings.
-
Data Visualization
As the business world is changing dynamically every day. We need to stay pin point in relation to data management and optimum data utilization
-
Information security
We never share your personal and confidential information. Your personal information is safe and secure with us.