Selbyville, Delaware, Sept. 24, 2020 (GLOBE NEWSWIRE) --
According to latest report “Online Fitness Market by Streaming Type (Live, On-Demand), Session Type (Group, Solo), Device Type (Smart TVs, Smartphones, Laptops, Desktops & Tablets, Others), End-Use (Professional Gyms, Educational & Sports Institutes, Corporate Institutions, Individuals), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of online fitness will cross $30 billion by 2026. Rising health concerns coupled with the growing penetration of internet connectivity will boost the market growth.
Live streaming of fitness videos enables trainers to monitor performance in real-time. Companies, such as Blink Fitness and 305 Fitness, are leveraging digital platforms, such as Facebook and YouTube, to live stream their fitness sessions. Real-time videos are interactive, enabling exercisers to provide feedback and enquire fitness-related queries. Instant feedback and interactive sessions enhance the overall workout experience as trainers can provide personalized recommendations. Demand for customized workout experience in the comfort of office or home environments is driving the live online fitness market growth.
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The growing penetration of smart devices globally will fuel the online fitness market revenue. Smartphones are used to stream videos online due to their portability and easy use. Apps can be downloaded on smartphones and viewed as per user convenience. Players, such as Samsung Corporation and Sony Corporation, manufacturing high-quality smart TVs will also surge the demand for online fitness classes as users can watch HD videos for an enhanced audio-visual experience. Robust wireless infrastructure enables seamless streaming of videos online on smartphones and smart TVs.
Corporate institutions incorporating gyms in their infrastructure will augment the online fitness market demand. Companies including Google LLC, Microsoft Corporation, and Intel Corporation have well-equipped fitness centers. These companies integrate gyms in their campus to enhance employee productivity and ensure their health & wellbeing. Several health clubs collaborate with companies to enable the integration of gyms in the work environment to boost employee productivity.
Europe online fitness market is predicted to observe significant growth during the forecast periodowing to the increasing popularity of on-demand sessions for cardio exercises on climbers, treadmills, and exercise bikes. According to the European Heart Network (AISBL), cardiovascular diseases account for 45% of all the deaths in the region. Death rates due to Ischemic Heart Disease (IHD) and stroke are high in Central and Eastern Europe. Cardiovascular equipment aids in maintaining heart health and lowering blood pressure, indirectly boosting market demand in the region. The growing awareness of health & well-being will encourage consumers to incorporate cardio workouts in their routine to reduce heart diseases. The integration of online fitness sessions into the display of cardio equipment will propel the market expansion.
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Some of the prominent players operating in the online fitness market are FitnessOnDemand, ClassPass, Inc., Econofitness, Les Mills International Ltd., Peerfit, Inc., Sworkit, Navigate Wellbeing Solutions, Viva Leisure, Peloton, Zwift, Goodlife Fitness, Wexer, Charter Fitness, Inc., Fitness First, Fittr, and MoveGB.
Some major findings of the online fitness market report are:
- Growing health concerns due to sedentary lifestyles will surge demand for sophisticated online fitness classes. A rise in the number of obesity-related diseases, such as diabetes and cardiac problems, has encouraged people to incorporate fitness into their daily routines.
- The availability of robust internet connectivity globally will surge the adoption of online fitness sessions. Strong internet connectivity ensures seamless streaming of on-demand fitness videos. The roll-out of 5G in North America and Europe will also boost the online fitness market value.
- A rise in the number of gyms in Asia Pacific and Europe will spur the demand for virtual fitness classes from professional gym chains. Fitness facilities are adopting advanced techniques to expand their customer base.
- The rising adoption of digitally connected equipment, such as treadmills and exercise bikes, enables exercisers to monitor precise workout statistics with trainers. They can watch high-quality videos on the consoles of these machines. This enables trainers to visualize daily exercise routines and suggest a scope of improvement to sports players and athletes.
Table of Contents (ToC) of the report:
Chapter 3. Online Fitness Market Insights
3.1. Industry segmentation
3.2. Impact of coronavirus (COVID–19) pandemic
3.2.1. Global outlook
3.2.2. Regional outlook
3.2.3. Industry value chain
3.2.3.1. Suppliers
3.2.3.2. Content providers
3.2.3.3. Marketing & distribution channel
3.2.4. Competitive landscape
3.2.4.1. Strategy
3.2.4.2. Distribution network
3.2.4.3. Business growth
3.3. Industry ecosystem analysis
3.3.1. Software developers
3.3.2. Technology providers
3.3.3. Cloud providers
3.3.4. Content providers
3.3.5. Service providers
3.3.6. Distribution channel analysis
3.3.7. Vendor matrix
3.4. Technology & innovation landscape
3.4.1. Impact of IoT
3.4.2. AI & machine learning
3.4.3. Cloud computing
3.5. Regulatory landscape
3.6. Industry impact forces
3.6.2. Pitfalls and challenges
3.7. Growth potential analysis
3.8. Porter’s analysis
3.8.1. Threat of new entrants
3.8.2. Threat of substitutes
3.8.3. Bargaining power of buyers
3.8.4. Bargaining power of suppliers
3.8.5. Industry rivalry
3.9. PESTEL analysis
Browse Complete Table of Contents (ToC) @
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About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.