Global Virtual Fitness Market Size, by Streaming Type (Live, and On-demand), Device Type (Smart TV, Smartphones, Laptops Desktops & Tablets, and Others), Session Type (Group and Solo), Revenue Model (Subscription, Advertisement, and Hybrid) and End User (Professional Gyms, Sports Institutes, Defense Institutes, Educational Institutions, Corporate Institutions, Individuals, and Others), By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa), Trend Analysis, Market Competition Scenario & Outlook, 2020-2026.

Published:
August 2020
Report Code:
BWC20129
Available Format:
PDF PDF Icon
Pages:
172

global virtual fitness market bwc20129

Global Virtual Fitness Market – Market Outlook & Trends 

 

The Global Virtual Fitness Market valued at USD 6046 million in 2019 and is expected to reach USD 44741 million by 2026, at a CAGR of 33.1 % during the projection period. The requirement for progressive fitness sessions, lack of time to join physical sessions and increased fitness-conscious populace drive the demand for Global Virtual Fitness Market. The virtual fitness market saw steady growth during the past few years and is expected to grow at an accelerated rate during the forthcoming period. The market has witnessed a sudden rise in 2020 as the more significant number of global populace has started regular workouts at their homes using virtual fitness stages during the lockdown period. Such development is attributed to the shutdown of gyms and fitness clubs across the world to avoid further transmission of the pandemic. The growing popularity of online fitness plans among the youth and people across all age groups is expected to offer tremendous growth prospects to the existing players and new entrants in the market. However, the inadequate attention by the key industry players on multiple online services is likely to restrain market development. 

 

Global Virtual Fitness Market – Overview 

 

A virtual workout allows online access to a trainer or instructor-led fitness program at home or place of the trainee. It is considered the next group-fitness revolution. The fitness training videos are provided on the online dashboards or fitness apps that are connected with the health instructor. Moreover, the virtual fitness sensors in smartphones and wearable allow sleep observation and running rhythm tracing to advance users for improving lifestyle and health. The different forms of online or virtual fitness offerings are available to everyone from shift workers to homemakers, and any person not able to visit the gym. The virtual on-request and live courses related to fitness provide benefits such as schedule flexibility, a wide variety of fitness arrangements such as yoga or meditation, and expert leadership at the home/office.

 

Key Drivers 

Increase in need for progressive fitness assemblies to achieve physical fitness

 

A growing number of people across the world wish to have a better lifestyle with stretchy workouts, stable diets, and better healthcare. The virtual fitness programs aid in the fulfilment of this objective with online progressive fitness programs. The virtual service providers adopt different strategies to meet the requirements of the customers. For instance, in April 2020, My Virtual Mission, one virtual fitness technology company, has launched its Race Host platform. The Race Host platform is designed with advanced features for tycoons, businesses, and charities, allowing them to host virtual aptness events to involve target viewers, generate income, and enlarge their global market reach.

 

The growing popularity of online or virtual fitness programs among the older age group 

 

Virtual or online fitness encourages regular exercises among people across all age group, including the elderly, to stay fit and prevent various health problems. Elderly individuals increasingly focus on a healthier lifestyle and follow the advice of qualified fitness specialists to attain wellness through training and dietary references. The adoption of virtual fitness is gaining momentum among the elderly due to time, place & trainer-selection flexibility and the correct implementation of fitness training procedures.

 

Global Virtual Fitness Market: Segmentation

 

The virtual fitness market is segmented based on streaming type, device type, session type, revenue model, end-user, and region. Based on the streaming type, it is segmented into Live and On-demand Virtual Fitness market. Based on device type, it is categorized into Smart TVs, Smartphones, Laptops desktops, and Tablets, Others (internet sticks, streaming blu ray player). By session type, it is split into Groups and Solo. Depending on the revenue model, it is divided into Subscription, Advertisement, and Hybrid. Based on End-user, the market is separated into Defense Institutes, Educational Institutions, Professional Gyms, Sports Institutes, Corporate Institutions, Individuals, and Others.

 

The on-demand streaming type segment captured the major online/virtual fitness market share in 2019 and is expected to retain its share during the projection period. 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 the fitness-freaks who want reliable fitness-program layout and schedule.

 

Based on the revenue model, the Subscriptions segment recorded the highest growth in the Virtual Fitness Market share in 2019 and is likely to preserve its supremacy in the forthcoming years due to the rising acceptance of subscription-based virtual fitness training sessions by customers. The clients increasingly prefer it due to its cost efficiency similar to signing up with a coach in-person.  

 

Based on region, Global Virtual Fitness Market is segmented by key regions— North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

 

Global Virtual Fitness Market: Regional Insights 



North America dominates the online fitness market due to the increasing number of health and wellness organizations and the increasing adoption of Augmented and Virtual reality (AR & VR) technology for workouts across this region and is expected to maintain its market share during the projected period. Besides, the requirement for precise medication and personalized care is also growing among the adult age groups in North America, which is further driving the development of the market. 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/online health solutions during the forthcoming period. 

 

The mobile devices-based health & wellness apps that provide on-demand and live streaming fitness classes appear to be cost-effective solutions in developing nations of Asia-Pacific and are expected to witness substantial growth. Moreover, several health tech startups' have introduced different apps and services to increase their reach in this region are providing numerous opportunities for the Online/virtual Fitness Market development.

 

Competitive Landscape

 

The leading companies in this market are Health Clubs & Gyms, Econofitness, Wellbeats, Fitness On Demand, GoodLife Fitness, Wexer, Reh-Fit Centre, Les Mills International Ltd., Fit n Fast, Charter Fitness Inc., and Fitness First Ltd. and others.


Recent Development

Ø  In March 2020, Les Mills and TVNZ partnered to offer workout sessions during the COVID-19 lockdown, particularly for the citizens in New Zealand. These workout classes include HIIT sessions and meditation, among many others.

Scope of the Report

 

By Streamline Type

Ø  Live

Ø  On-demand

By Device Type

Ø  Smart TV

Ø  Smartphones

Ø  Laptops, Desktops & Tablets

Ø  Others 

By Session Type

Ø  Group 

Ø  Solo 

By Revenue Model

Ø  Subscription

Ø  Advertisement

Ø  Hybrid 

By End-User

Ø  Professional Gyms

Ø  Sports Institutes

Ø  Defense Institutes

Ø  Educational Institutions

Ø  Corporate Institutions

Ø  Individuals

Ø  Others

By Region

Ø  North America

Ø  Europe 

Ø  Asia Pacific

Ø  South America

Ø  Middle East & Africa

 

The objective of the Study:

Ø  To analyze and estimate the Global Virtual Fitness Market size, in terms of value.

Ø  To examine the market segmentation carefully and estimate the market size, in terms of value, based on the region by segmenting the Global Virtual Fitness Market into five regions, namely, North America, Europe, Asia Pacific, Rest of the World and their leading countries.

Ø  To outline, categorize and project the Global Virtual Fitness Market based on the Streamline Type, Device Type, Session Type, Revenue Model, End-user and Region.

Ø  To examine competitive developments in Streamlining, devices used, revenue models, session types and diverse end-users within the Global Smart Dishwasher Market.

Ø  To highlight market dynamics such as drivers, restraints, opportunities, and challenges and their impact.

Ø  To provide a detailed competitive landscape, including major players, their strategic profiles, and market shares.

 

Business Questions Answered by the Report

 

Ø  How will the market drivers, restraints, and opportunities affect the market dynamics?

Ø  What will be the market size in terms of value and volume and market statistics with a detailed classification?

Ø  Which segment dominates the market or region, and which one will be the fastest-growing, and why?

Ø  Who are the key players in the market, and what is their share?

Ø  What is the strategy adopted by key players, and how does it affect the existing and new players?

 

Customization Scope for the Client

 

Client satisfaction is our first and last priority, and that is why BlueWeave Consulting offers customization as per client’s specific needs. The following customization options are available for the report:

Ø  Additional Company Information

Ø  Detail Analysis of five additional companies

Ø  Additional country analysis

Ø  Detailed segment analysis

 

 

Attribute

Details

Years Considered

Historical data – 2016-2019

Base Year – 2019

Forecast – 2020 – 2026

Facts Covered

Revenue in USD Million

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, South Korea UAE, South Africa, Saudi Arabia.

Product/Service Segmentation

By Streamline Type, By Device Type, By Session Type, By Revenue Model, BY End-user and By Region.

Key Players                          

Health Clubs & Gyms, Econofitness, Wellbeats, Fitness On Demand, GoodLife Fitness, Wexer, Reh-Fit Centre, Les Mills International Ltd., Fit n Fast, Charter Fitness Inc., and Fitness First Ltd. and others.












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