Press release
Online/Virtual Fitness Market 2024-2033: Trends, Analysis & Growth Forecast
The online/virtual fitness market size is expected to see exponential growth in the next few years. It will grow to $81.47 billion in 2028 at a compound annual growth rate (CAGR) of 29.6%. The growth in the forecast period can be attributed to increasing government support, rising penetration of smart devices and growing popularity of online fitness programs among the elderly population. Major trends in the forecast period include focus on artificial intelligence for virtual fitness, focus on virtual fitness stations, focus on innovative fitness apps and focus on strategic partnerships and collaborations.
Market Overview -
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.
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Smart Device Penetration Driving Growth In The Online Fitness Market
During the forecast period, the rising penetration of smart devices is expected to increase the growth of the online or virtual fitness market. Smart gadgets keep track of a person's daily activities, by connecting to other devices or networks via various wireless protocols, including Bluetooth, Zigbee, NFC, Wi-Fi, LiFi, and 5G. For example, in 2022, according to policy advice, 57% of US users of smart home devices report daily time savings, according to data from surveys and the linked home market size. They claim that these gadgets help them save an average of roughly 30 minutes each day. Therefore, the rising penetration of smart devices is expected to propel the growth of the online or virtual fitness market during the forecast period.
Competitive Landscape -
Major companies operating in the online/virtual fitness market report are Peloton, Les Mills International Ltd., Fitness First, ClassPass Inc., Core Health & Fitness, Econofitness, Sworkit Company, Daily Burn, Viva Leisure, Reh-Fit Centre, Cult.fit, StepSetGo, Move Technologies Group Ltd., MoveGB, VIXY BV, Wexer Virtual, ClassPass, Fitbit Inc., Planet Fitness Franchising LLC, GOLD'S GYM, Anytime Fitness LLC, OX Fitness Club, AYO Fitness Club, Academia Bio Ritmo, Bodytech Sports Medicine, Erada Center, Vogue Fitness, Dr. Amina Al Amiri Clinic, Sporter.com, Body and Soul Health Club, Lifeline Wellness, FitRepublik, Life Diagnostics, esadore international, Planet Fitness, Nutreats, Karien CSN Diet, Express Fitness, Matrix Fitness South Africa, MAKROSAFE Holdings (Pty) Ltd, IPS: Health and Wellness, Camelot Spa Group
Surging Popularity Of On-Demand Services Drives Innovation In The Online 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.
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Key Segments -
The online/virtual fitness market covered in this report is segmented -
1) By Device Type: Smart TV, Smartphones, Laptops Desktops and Tablets, Other Device Types
2) By Revenue Model: Subscription, Advertisement, Hybrid
3) By End User: Professional Gyms, Sports Institutes, Defense Institutes, Educational Institutions, Corporate Institutions, Individuals
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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