Online/Virtual Fitness Market Grow with 26.7% of CAGR, Industry Analysis and Forecast to 2027

The global online/virtual fitness market, in terms of revenue, is anticipated to progress at a CAGR of 26.7% during the forecast period, 2021-2027.

Overview

A virtual fitness class is a great way to get a full workout from any fitness instructor. These classes are often facilitated by a trainer, who will guide users through exercises and provide motivation. It is a great way to stay fit while on a busy schedule. Achieving fitness goals is an important part of living an active lifestyle. Users can set realistic goals and keep track of them. In addition, they can also set up recurring memberships on online fitness platforms, accepting drop-in payments or offering a limited number of classes for a fixed fee. Unlike traditional classes, a virtual fitness class is not only convenient, but also fun to use. Oftentimes, it is a great way to stay fit, and a virtual fitness instructor will guide clients through the workout.

Purchase Online/Virtual Fitness Market Report at https://www.worldwidemarketreports.com/buy/754101

Competitive Landscape

The global online/virtual fitness market is dominated by only a few participants including ClassPass Inc., Fitbit, Inc., Viva Leisure Group, among others.
Drivers

The growing prominence of health tracking applications among the working population to stay fit amidst hectic lifestyles is expected to propel the growth of the global online/virtual fitness market throughout the forecast period. For instance, in March 2022, GOQii, an Indian start-up providing online fitness classes, raised around US$ 10 million in a Series C funding round led by Animoca Brands to improve its health metaverse.

By streaming type:
- live
- on-demand streaming

By device type:
- laptops, desktops, and tablets
- smart TV
- smartphone
- others

By end user:
- corporate institution
- defense institutes
- educational institutes
- individuals
- professional gyms
- sports institutes
- others

Furthermore, increasing penetration of smartphones in parallel to the advent of the 5G infrastructure across the telecommunication sector is expected to supplement the growth of the global online/virtual fitness market over the forecast period.

Restraints

Poor adoption in developing countries and increasing Internet costs are expected to limit the growth of the global online/virtual fitness market.

Opportunities

Increasing membership of online workout classes, combined with the emergence of IoT (Internet of Things) technology, is expected to provide lucrative growth opportunities for players in the global online/virtual fitness market.

Buy Online/Virtual Fitness Market Report at https://www.worldwidemarketreports.com/buy/754101

Regional Analysis

North America is expected to experience robust growth over the forecast period in the global online/virtual fitness market. The growing client-base of online fitness platforms and the presence of major market players are driving the growth of the online/virtual fitness market in this region.

The Asia Pacific region is expected to witness significant growth during the forecast period in the global online/virtual fitness market. Increasing awareness of fitness among the millennial population in the wake of increasing cases of stroke and hypertension is propelling the growth of the online/virtual fitness market in this region.

Key Developments

In March 2022, FlexIt, a virtual fitness platform, partnered with the Florida Panthers, a popular franchise in the National Hockey League (NHL), to provide fitness classes on game days and in-person activations.

In March 2022, bim, an online fitness solutions provider, launched a Fintech platform to support online fitness trainers in monitoring and increasing their business through mobile applications.

Contact Us:
Worldwide Market Reports,
Tel: U.S. +1-415-871-0703
U.K. +44-203-289-4040
Japan +81-50-5539-1737
Email: sales@worldwidemarketreports.com 
Website: https://www.worldwidemarketreports.com/ 

About WMR
Worldwide Market Reports is your one-stop repository of detailed and in-depth market research reports compiled by an extensive list of publishers from across the globe. We offer reports across virtually all domains and an exhaustive list of sub-domains under the sun. The in-depth market analysis by some of the most vastly experienced analysts provides our diverse range of clients from across all industries with vital decision-making insights to plan and align their market strategies in line with current market trends.

This release was published on openPR.