Virtual Fitness Market Will Reach $40 billion, Globally, around 40% CAGR by 2030 - Wellbeats, Inc., Wexer, FitnessOnDemand, Flexlt Inc., Curtis Health, VFit Studio, LLC

Market Insights
The global virtual fitness market revenue size is expected to cross $40 billion by 2030 at a CAGR of around 40% from 2022. This can be attributed to the rise in the fitness enthusiast population group due to increased awareness during and post-COVID-19 pandemic. In addition, the easy availability of On-demand and live fitness programs coupled with higher penetration of smartphones, computers, and high-speed internet is one of the major drivers, especially in developing nations. Whereas, incentives for physical workouts or fitness activities, by fitness applications such as SWEATCOIN, are also expected to boost the adoption of the virtual fitness market.

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More, affordable programs with virtual reality (VR), and augmented reality (AR)that can be quickly adopted by fitness enthusiasts may serve one of the largest needs of the market. Also, addressing the need for the controlling rising number of overweight kids and obesity can be another large opportunity in the virtual fitness market.

Major Drivers of the Virtual Fitness Market

Increased Fitness Enthusiast Population Coupled with Adoption of Virtual Fitness Material Post-COVID-19 Pandemic

Fitness enthusiasts experienced a challenging period as they weren't able to visit fitness centers due to the COVID-19 pandemic. Owing to this, the majority of individuals preferred continuing fitness training at home through smartphone web-based online fitness applications and programs. According to the RunRepeate article, downloads of fitness apps grew 46% during the first half of 2020 globally.

Further, the COVID-19 pandemic has also boosted the adoption of daily fitness routines. , McKinsey's 2020 survey of 7,500 consumers in six countries (Brazil, China, Germany, Japan, the United Kingdom, and the United States) shows that consumers deeply care about wellness and that their interest is growing.

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Virtual Fitness Market Opportunity

Integration of Virtual Reality (VR) and Augmented Reality (AR)Advancement in Virtual Fitness

Globally many individuals lack fitness activities. For instance, according to various studies reveal that more than 25% of adults in America do not engage in any physical activity at all, and more than 60% of American adults do not meet the recommended levels of physical activity. These large numbers are due to the population's perception of fitness activities are being a more painful process than enjoyment. According to an Onix article, 44% of inactive people in the world don't exercise because it is not fun. Repetitive tasks rapidly get monotonous for people.

This challenge can be addressed through tech advancements using virtual reality (VR) and Augmented reality (AR). According to the Virtual reality institute of health and exercise, it is estimated 15% of virtual reality games burn enough calories during typical play to qualify as medium to intense exercise. The most intense video games, including Thrill of the Fight, Knockout League, Beat Saber, Audio Trip, and others, have been proven in metabolic testing at the VR Institute of Health and Exercise to burn more calories per minute than the majority of specially designed exercise equipment at the gym.

Currently, VR and AR technologies are both being adopted by gyms and health clubs to make workouts more entertaining, effective, and safe. Thus, the integration of AR and VR in virtual fitness can be a huge opportunity for virtual fitness providers in the future.

Major Market Players Covered in The Virtual Fitness Market Are:

A few of the major competitors currently working in the global Virtual Fitness market are Wellbeats, Inc., Wexer, FitnessOnDemand, Flexlt Inc., Curtis Health, VFit Studio, LLC, The Active Workplace, Virtual-Fitness, Curtis Health, FitPros, LLC., Healthworks Fitness, and Other Companies.

Global Virtual Fitness Market Scope and Segments

Offerings of Virtual Fitness Market - Workout Sessions, Nutritional Advice, Courses, and Others.

By Purchases Model of Virtual Fitness Market - Transactional Model, Subscription Model

Based on regions, the Virtual Fitness Market is classified into North America,
Europe, Asia- Pacific, Middle East & Africa, and Latin America

Middle East and Africa (GCC Countries and Egypt)
North America (United States, Mexico, and Canada)
South America (Brazil, Argentina, etc.)
Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)

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