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.
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
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
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.
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.
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
Historical data – 2016-2019
Base Year – 2019
2020 – 2026
Revenue in USD Million
U.S, Canada, Germany, UK,
France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, South
Korea UAE, South Africa, Saudi Arabia.
By Streamline Type, By Device Type, By Session Type, By Revenue
Model, BY End-user and By Region.
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.
By Streamline Type
By Device Type
Ø Smart TV
Ø Laptops, Desktops & Tablets
By Session Type
By Revenue Model
Ø Professional Gyms
Ø Sports Institutes
Ø Defense Institutes
Ø Educational Institutions
Ø Corporate Institutions
Ø North America
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
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