Online/Virtual Fitness Market
According to the report, the global online or virtual fitness industry is projected to garner a revenue of $250.7 billion by 2032. The market accounted for $14.9 billion in 2022 and is predicted to rise at a CAGR of 32.7% over the analysis period from 2023 to 2032.
Online or virtual workouts represent the next generation of fitness revolution, offering convenience-based fitness and wellness services. Instead of visiting a physical fitness center, clients can access trainers or instructors online. Typically, training videos are made available through an online dashboard or fitness app, managed by the instructor.
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Smartphones and wearable devices equipped with sensors enhance virtual fitness experiences by enabling features like sleep monitoring and running rhythm tracking, helping users improve their health and lifestyle. The diverse range of virtual fitness options makes health and wellness accessible to everyone, from shift workers to homemakers, and individuals who may prefer or be unable to attend a gym in person.
The global online/virtual fitness market is poised for significant growth, driven by several key factors. The rising demand for healthy lifestyles, the increasing adoption of AR and VR-based fitness solutions, growing interest from health insurance providers in virtual fitness services to reduce insurance costs, and the need for advanced fitness sessions to improve physical health are among the primary drivers.
Additionally, the lack of time for in-person training sessions is further fueling market expansion. The growing popularity of virtual fitness programs among older adults is expected to create new growth opportunities over the forecast period. However, limitations such as the absence of real-time interaction with instructors and disruptions due to technical issues present challenges to market growth.
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In terms of streaming type, the on-demand segment accounted for nearly 60% of market revenue in 2022 and is anticipated to maintain its leadership during the forecast period. The preference for on-demand workouts stems from the flexibility to choose preferred exercise styles and intensity levels without adhering to fixed class schedules. Conversely, the live streaming segment is expected to witness a remarkable compound annual growth rate (CAGR) of 33.8% between 2023 and 2032, driven by the comfort and convenience it offers with less pressure to perform exercises perfectly.
By revenue model, the subscription-based segment dominated in 2022 and is projected to sustain its lead, primarily due to its cost-effectiveness compared to in-person training. Virtual subscriptions also provide access to renowned trainers regardless of geographic location. Meanwhile, the hybrid revenue model is predicted to achieve the highest growth, leveraging free trials, pay-per-view options, and ad-free subscription plans to attract a broad range of customers.
In terms of device usage, the laptops, desktops, and tablets segment captured the largest market share in 2022, contributing approximately 40% of total revenue. This dominance is attributed to superior video experience and storage capacity. However, the smartphone segment is forecasted to grow at an impressive CAGR of 34.3% from 2023 to 2032, reflecting the rising global penetration of smartphones.
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Regionally, North America led the market in 2022, driven by the increasing prevalence of chronic conditions such as cardiovascular disease, obesity, and diabetes, particularly in the U.S. and Canada. Asia-Pacific is expected to experience significant growth during the forecast period, influenced by supportive government regulations promoting fitness and the adoption of virtual fitness platforms.
The COVID-19 pandemic had a transformative impact on the online/virtual fitness market, accelerating its growth trajectory. Market size surged from $14.9 billion in 2022 to a projected $250.7 billion by 2032, surpassing pre-pandemic estimates. During the pandemic, many consumers embraced virtual fitness, with approximately 38% of U.S. users incorporating online workout services into their routines. Post-pandemic, the hybrid fitness model combining virtual and in-person sessions has gained traction, with gyms increasingly offering on-demand and live-streamed workouts. Major brands like Apple have capitalized on this trend, launching subscription-based platforms like Fitness+.
Prominent market players:
Wellbeats, Inc.
ClassPass Inc.
Viva Leisure
Fitbit, Inc.
Sworkit
FitnessOnDemand
Reh-Fit Centre
Les Mills International Ltd.
Peerfit, Inc.
Navigate Wellbeing Solutions
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Notable industry developments include:
GYMGUYZ introduced new online training sessions in November 2023 to meet soaring demand for at-home fitness.
UBX announced “Extended Access” in November 2023, revolutionizing flexible workout access.
Adidas and Les Mills partnered in February 2023 to fuse technology with live fitness experiences.
Fitness OnDemand collaborated with Marriott Bonvoy in February 2023 to offer virtual fitness content to hotel guests across Europe, the Middle East, and Africa.
FitXR, in April 2021, enhanced its VR/AR fitness platform with multiplayer features and a vast on-demand class library.
These developments highlight the dynamic evolution of the online/virtual fitness market, driven by innovation, partnerships, and increasing consumer demand for flexible, engaging fitness solutions.
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