Dublin, April 07, 2023 (GLOBE NEWSWIRE) -- The "Online/Virtual Fitness Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the market.
The global online/virtual fitness market grew from $15.65 billion in 2022 to $21.82 billion in 2023 at a compound annual growth rate (CAGR) of 39.4%. The online/virtual fitness market is expected to grow to $76.57 billion in 2027 at a CAGR of 36.9%.
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 & Gyms, Fast Lean Fitness centre and Gym, Charter Fitness Inc., and MoveGB.
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The online/virtual fitness market includes revenues earned by entities by providing services, which can be used for the online accessibility of health and wellness to fitness-conscious consumers or persons who might not be keen or able to visit a gym. Virtual or online fitness is a convenience-based fitness/wellness service to the users to access a trainer online/virtually rather than visiting the fitness facility. Usually, the fitness training videos are provided on the web dashboards or fitness apps that are managed by the fitness trainer.
In addition, virtual fitness sensors in smartphones and wearable enable various virtual fitness applications like sleep monitoring and running rhythm tracking to enhance users' lifestyles and health. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Online or virtual fitness is the fusion of fitness with technology. Online fitness is when a coach or personal trainer provides people with fitness coaching through the internet. Online or virtual fitness is provided through training videos offered through an app or online dashboard run by the coach.
North America was the largest region in the online/virtual fitness market in 2022. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the online/virtual fitness market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main devices used to access online/virtual fitness services include smart TVs, smartphones, laptops, desktops, and tablets. Smart TVs and smartphones enable consumers to access online fitness services through apps and track physical activity. Laptops, desktops, and tablets enable consumers to access online fitness services through apps and websites.
Major end-user of online/virtual fitness include professional gyms, sports institutions, defense institutes, educational institutions, corporate institutions, and individuals. Professional gyms include physical fitness facilities, weight-reducing clubs, health clubs, and exercise salons.
Sports institutions include arenas, stadiums, and sports clubs. Defense institutes provide various self-defense training, including martial arts classes, the use of pepper sprays, and other self-defense weapons. Educational institutions are involved in providing educational training and development. Individuals are a major end-user of online/virtual fitness services such as exercise classes, yoga sessions, meditation classes, sports classes, and others.
The rising 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 via different wireless protocols such as Bluetooth, Zigbee, NFC, Wi-Fi, LiFi, and 5G and help in keeping track of a person's day-to-day activities.
Smart devices enable users to access online fitness content. According to a survey conducted across Australia, Belgium, China, Greece, Ireland, Italy, KSA, Netherlands, Spain, Sweden, the U.K., and the U.S. by OMD Worldwide, a US-based media communications agency, it has been found that 61% of people own a smart device. Therefore, the rising penetration of smart devices is driving the growth of the online-virtual fitness market.
The on-demand offering is a key trend gaining popularity in the online-virtual fitness market. On-demand online fitness services enable consumers to access fitness sessions at their convenience with their choice of workout programs, exercise difficulty levels, and trainers.
For instance, in May 2022, Johnson Health Technology Company, a US-based online fitness services company, launched Matrix Connected solutions through which gyms and fitness owners can create digital experiences for their members and people can take on-demand exclusive training cycles.
The countries covered in the online/virtual fitness market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $21.82 billion |
| Forecasted Market Value (USD) by 2027 | $76.57 billion |
| Compound Annual Growth Rate | 36.9% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Online/Virtual Fitness Market Characteristics
3. Online/Virtual Fitness Market Trends And Strategies
4. Online/Virtual Fitness Market - Macro Economic Scenario
4.1 COVID-19 Impact On Online/Virtual Fitness Market
4.2 Ukraine-Russia War Impact On Online/Virtual Fitness Market
4.3 Impact Of High Inflation On Online/Virtual Fitness Market
5. Online/Virtual Fitness Market Size And Growth
5.1. Global Online/Virtual Fitness Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Online/Virtual Fitness Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Online/Virtual Fitness Market Segmentation
6.1. Global Online/Virtual Fitness Market, Segmentation By Device Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Smart TV
- Smartphones
- Laptops, Desktops, and Tablets
6.2. Global Online/Virtual Fitness Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Professional Gyms
- Sports Institutes
- Defense Institutes
- Educational Institutions
- Corporate Institutions
- Individuals
6.3. Global Online/Virtual Fitness Market, Segmentation By Revenue Model, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Subscription
- Advertisement
- Hybrid
7. Online/Virtual Fitness Market Regional And Country Analysis
7.1. Global Online/Virtual Fitness Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Online/Virtual Fitness Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/ihhvhu
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