Global Virtual Fitness Market Bwc20129
Virtual Fitness Market- Global Industry Size, Share, Trend Analysis, Outlook, Growth, Opportunity and Forecast, 2017-2027, Segmented By Streaming Type (Live, On-demand), By Device Type (Smart TV, Smartphones, Laptops Desktops & Tablets, Others), By Session Type (Group, Solo), By Revenue Model (Subscription, Advertisement, Hybrid), By End User (Professional Gyms, Sports Institutes, Defense Institutes, Educational Institutions, Corporate Institutions, Individuals, Others), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)
- Published Date: October 2021
- Report ID: BWC20129
- Available Format: PDF
- Page: 189
Report Overview
The global virtual fitness market is growing because of the driving factors such as growing need for progressive fitness sessions, lack of time to join physical sessions and increased fitness-conscious populace.Global Virtual Fitness Market- Industry Trends & Forecast Report 2027
The global virtual fitness market was worth USD 8.1 billion in 2020 and is further projected to reach USD 59.6 billion by the year 2027, growing at a CAGR of 33.1% in the forecast period. The growing need for progressive fitness sessions, shortage of time to join physical sessions and increased fitness-conscious populace is expected to drive the demand for the global virtual fitness market. Furthermore, growing acceptance of remote working culture is estimated to emerge as the major driving factor for the global virtual fitness market.
Source: BlueWeave Consulting
Global Virtual Fitness Market- Overview
Virtual fitness is a growing trend wherein physical training sessions are delivered in groups remotely via the Internet. Such workouts provide trainees with access to trainer-led fitness programs at home or anywhere else they choose. Virtual fitness is considered the next group-fitness revolution. The fitness training videos are provided online or via fitness apps that are connected to the health instructor. Additionally, virtual fitness sensors on smartphones and wearable devices can track users' sleep patterns and running patterns to improve their lifestyle and health. There is a wide range of online or virtual fitness services available to everyone, from shift workers to homemakers and anyone unable to go to the gym.
Global Virtual Fitness Market Forecast and Trends
Growth Drivers
Increase in Need for Progressive Fitness Assemblies to Achieve Physical Fitness
A growing number of people across the world are adopting improved lifestyles with stretchy workouts, healthy diet regimes, and better healthcare. Virtual fitness programs aid in the fulfillment of this objective with online progressive fitness programs. The virtual service providers adopt different strategies to meet the requirements of the customers. For instance, in April 2020, My Virtual Mission, one virtual fitness technology company, launched its Race Host platform. Race Host is a platform designed for tycoons, businesses, and charities that host virtual aptness events to engage viewers, generate income, and reach a wider global audience.
Growing Popularity of Online or Virtual Fitness Programs Among the Older Age Group
The use of virtual or online fitness encourages regular exercise among people of all ages, including the elderly, to stay fit and prevent various health issues. As individuals grow older, they seek a healthier lifestyle and follow fitness specialists’ advice to reach wellness through exercise and diet. The adoption of virtual fitness is gaining momentum among the elderly due to the flexibility of time, place, and trainer selection and the correct implementation of fitness training procedures.
Restraints
High Chances of Incorrect Forms or Technique and Physical Injuries
Virtual fitness is gaining huge popularity, especially among the working class, due to its time flexibility. However, one of its major drawbacks is the unavailability of the instructor or the trainer physically. As a result, the mistakes made when exercising or using the incorrect form or technique cannot be corrected due to the absence of the trainer. This may prevent the body from reaching its limits and result in minor or serious harm, rendering the virtual exercise services useless. This is a significant impediment to market growth.
Impact of COVID-19 on Global Virtual Fitness Market
Global virtual fitness market growth was accelerated by several years by the sudden outbreak of the COVID-19 pandemic. Multiple countries imposed a lockdown to curb the spread of the virus, restricting people's movement and physical activity. The gyms were also closed due to the lockdown restrictions. This had a severe impact on both the physical and mental health of the people. Virtual fitness emerged as a great alternative for regular exercising while maintaining social distancing protocols.
Global Virtual Fitness Market - By Device Type
Based on device types, the global virtual fitness market is segmented into smart TVs, smartphones, laptops, desktops & tablets, and others. Among these, the smartphone segment accounts for the largest share in the market because of its growing penetration among all age groups. The emergence of various fitness apps such as Google Fit, MyFitnessPal, Strava, etc., and its fusion with the fitness trackers such as Fitbit, Amazfit, Garmin Forerunner, etc., are contributing to the adoption of virtual fitness in smartphones.
Global Virtual Fitness Market - By Session Type
Based on session types, the global virtual fitness market is segmented into group and solo. The group sessions hold the largest market share and are projected to witness a high growth rate during the forecast period as well. Group activities that fuel interaction as well as boosts healthy competition among the users prove to have positive effects on their overall health. However, as a result of the disparity in workout timing caused by people's busy schedules, solo sessions are also on the rise at a substantial rate.
Global Virtual Fitness Market - Regional Insights
Geographically, the global virtual fitness market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among all these regions, North America holds the largest market share. The virtual fitness market in North America is booming due to the growing number of health and wellness organizations and the growing use of virtual and augmented reality (AR & VR) technology in workouts. Additionally, the need for precise medication and personalized care is also growing among the adult population in North America, further driving the market.
Source: BlueWeave Consulting
Competitive Landscape
The leading players in the global virtual fitness market are Health Clubs & Gyms, Econofitness, WELLBEATS, Fitness On Demand, GoodLife Fitness, Wexer, Reh-Fit Centre, LES MILLS INTERNATIONAL LTD., Fit n Fast, Charter Fitness Inc., Fitness First Ltd., Fitbit, Inc., Peerfit, Inc., Viva Leisure, Sworkit, Navigate Wellbeing Solution, Peloton, Zwift Inc, Fittr, and other prominent players.
The global virtual fitness market is flourishing, with several industry players entering the virtual fitness market. Several market players offer subscription plans and customized programs to meet consumer needs, such as time flexibility. A lot of effort is put into creating user-friendly websites and programs, particularly for the elderly. They also concentrate on creating appealing websites and programs that are user-friendly, particularly for the elderly. Additionally, this industry employs a number of competitive strategies, such as mergers, acquisitions, partnerships, joint ventures, etc.
Recent Developments
- In October 2021, FlexIt, a United States digital fitness solution, announced the launch of FlexIt’s Connected Training offering, a new state-of-the-art tool that allows trainers to design interactive, personalized workouts.
- In October 2021, LifeSpeak, Inc., a Canadian mental health and wellbeing platform, announced the acquisition of LIFT Digital Inc., a digital fitness platform.
Scope of the Report
Attributes |
Details |
Years Considered |
Historical data – 2017-2020 Base Year – 2020 Forecast – 2021 – 2027 |
Facts Covered |
Revenue in USD Billion |
Market Coverage |
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia |
Product Service/Segmentation |
By Streaming Type, By Device Type, By Session Type, By Revenue Model, By End-User, By Region |
Key Players |
Health Clubs & Gyms, Econofitness, WELLBEATS, Fitness On Demand, GoodLife Fitness, Wexer, Reh-Fit Centre, LES MILLS INTERNATIONAL LTD., Fit n Fast, Charter Fitness Inc., Fitness First Ltd., Fitbit, Inc., Peerfit, Inc., Viva Leisure, Sworkit, Navigate Wellbeing Solution, Peloton, Zwift Inc, Fittr, and other prominent players. |
By Streaming Type
- Live
- On-Demand
By Device Type
- Smart TV
- Smartphones
- Laptops
- Desktops & Tablets
- Others
By Session Type
- Group
- Solo
By Revenue Model
- Subscription
- Advertisement
- Hybrid
By End-User
- Professional Gyms
- Sports Institutes
- Defense Institutes
- Educational Institutions
- Corporate Institutions
- Individuals
- Others
By Region
- North America
- Europe
- Asia-Pacific (APAC)
- Latin America (LATAM)
- Middle-East & Africa (MEA)
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Research Methodology
- Qualitative Research
- Methodology
- Regional Split of Primary & Secondary Research
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Breakdown of Primary Research Respondents, By Industry Participants
- Market Size Estimation
- Assumptions for the Study
- Market Breakdown & Data Triangulation
- Executive Summary
- Industry Insight and Growth Strategy
- Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Increase In Need For Progressive Fitness Assemblies To Achieve Physical Fitness
- Growing Popularity Of Online Or Virtual Fitness Programs Among The Older Age Group
- Restraints
- High Chances Of Incorrect Forms Or Technique And Physical Injuries
- Opportunities
- Growing On-Demand Fitness Services
- Expanding Hybrid Revenue Model
- Challenges
- Lack of Digitization in Low-Income Countries
- Growth Drivers
- Recent Developments
- Porter’s Five Forces Analysis
- Bargaining Power of Buyers
- Bargaining Power of Suppliers
- Intensity of Rivalry
- Threat of New Entrants
- Threat of Substitutes
- Global Virtual Fitness Market Overview
- Market Estimates & Forecast by Value, 2017-2027
- Market Share & Forecast, by Segment
- By Streaming Type
- Live
- On-Demand
- By Device Type
- Smart TV
- Smartphones
- Laptops
- Desktops & Tablets
- Others
- By Session Type
- Group
- Solo
- By Revenue Model
- Subscription
- Advertisement
- Hybrid
- By End-User
- Professional Gyms
- Sports Institutes
- Defense Institutes
- Educational Institutions
- Corporate Institutions
- Individuals
- Others
- By Region
- North America
- Europe
- Asia-Pacific (APAC)
- Latin America (LATAM)
- Middle-East & Africa (MEA)
- By Streaming Type
- North America Virtual Fitness Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2017-2027
- Market Share and Forecast
- By Streaming Type
- By Device Type
- By Session Type
- By Revenue Model
- By End-User
- By Country
- U.S.
- Canada
- Market Size and Forecast
- Europe Virtual Fitness Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2017-2027
- Market Share and Forecast
- By Streaming Type
- By Device Type
- By Session Type
- By Revenue Model
- By End-User
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Market Size and Forecast
- APAC Virtual Fitness Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2017-2027
- Market Share and Forecast
- By Streaming Type
- By Device Type
- By Session Type
- By Revenue Model
- By End-User
- By Country
- China
- India
- Japan
- South Korea
- Rest of APAC
- Market Size and Forecast
- LATAM Virtual Fitness Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2017-2027
- Market Share and Forecast
- By Streaming Type
- By Device Type
- By Session Type
- By Revenue Model
- By End-User
- By Country
- Mexico
- Brazil
- Rest of LATAM
- Market Size and Forecast
- MEA Virtual Fitness Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2017-2027
- Market Share and Forecast
- By Streaming Type
- By Device Type
- By Session Type
- By Revenue Model
- By End-User
- By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- Market Size and Forecast
- Competitive Landscape
- List of Key Players and Their Offerings
- Market Share / Ranking Analysis (2020)
- Competitive Benchmarking, By Operating Parameters
- Impact of COVID-19 on Global Virtual Fitness Market
- Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
- Health Clubs & Gyms
- Econofitness
- WELLBEATS
- Fitness On Demand
- GoodLife Fitness
- Wexer
- Reh-Fit Centre
- LES MILLS INTERNATIONAL LTD.
- Fit n Fast
- Charter Fitness Inc.
- Fitness First Ltd.
- Fitbit, Inc.
- Peerfit, Inc.
- Viva Leisure
- Sworkit
- Navigate Wellbeing Solution
- Peloton
- Zwift Inc
- Fittr
- Other Prominent Players
- Key Strategic Recommendations
List of Figures
Figure 1: Global Virtual Fitness Segmentation
Figure 2: Global Virtual Fitness Market Value Chain Analysis,
Figure 3: Company Market Share Analysis, 2020
Figure 4: Global Virtual Fitness Market Size, By Value (USD Billion), 2017-2027
Figure 5: Global Virtual Fitness Market Share (%), By Streaming Type, By Value, 2017-2027
Figure 6: Global Virtual Fitness Market Share (%), By Device Type, By Value, 2017-2027
Figure 7: Global Virtual Fitness Market Share (%), By Session Type, By Value, 2017-2027
Figure 8: Global Virtual Fitness Market Share (%), By Revenue Model, By Value, 2017-2027
Figure 9: Global Virtual Fitness Market Share (%), By End-User, By Value, 2017-2027
Figure 10: Global Virtual Fitness Market Share (%), By Region, By Value, 2017-2027
Figure 11: North America Virtual Fitness Market Size, By Value (USD Billion), 2017-2027
Figure 12: North America Virtual Fitness Market Share (%), By Streaming Type, By Value, 2017-2027
Figure 13: North America Virtual Fitness Market Share (%), By Device Type, By Value, 2017-2027
Figure 14: North America Virtual Fitness Market Share (%), By Session Type, By Value, 2017-2027
Figure 15: North America Virtual Fitness Market Share (%), By Revenue Model, By Value, 2017-2027
Figure 16: North America Virtual Fitness Market Share (%), By End-User, By Value, 2017-2027
Figure 17: North America Virtual Fitness Market Share (%), By Country, By Value, 2017-2027
Figure 18: Europe Virtual Fitness Market Size, By Value (USD Billion), 2017-2027
Figure 19: Europe Virtual Fitness Market Share (%), By Streaming Type, By Value, 2017-2027
Figure 20: Europe Virtual Fitness Market Share (%), By Device Type, By Value, 2017-2027
Figure 21: Europe Virtual Fitness Market Share (%), By Session Type, By Value, 2017-2027
Figure 22: Europe Virtual Fitness Market Share (%), By Revenue Model, By Value, 2017-2027
Figure 23: Europe Virtual Fitness Market Share (%), by End-User, By Value, 2017-2027
Figure 24: Europe Virtual Fitness Market Share (%), By Country, By Value, 2017-2027
Figure 25: Asia-Pacific Virtual Fitness Market Size, By Value (USD Billion), 2017-2027
Figure 26: Asia-Pacific Virtual Fitness Market Share (%), By Streaming Type, By Value, 2017-2027
Figure 27: Asia-Pacific Virtual Fitness Market Share (%), By Device Type, By Value, 2017-2027
Figure 28: Asia-Pacific Virtual Fitness Market Share (%), By Session Type, By Value, 2017-2027
Figure 29: Asia-Pacific Virtual Fitness Market Share (%), By Revenue Model, By Value, 2017-2027
Figure 30: Asia-Pacific Virtual Fitness Market Share (%), By End-User, By Value, 2017-2027
Figure 31: Asia-Pacific Virtual Fitness Market Share (%), By Country, By Value, 2017-2027
Figure 32: Latin America Virtual Fitness Market Size, By Value (USD Billion), 2017-2027
Figure 33: Latin America Virtual Fitness Market Share (%), By Streaming Type, By Value, 2017-2027
Figure 34: Latin America Virtual Fitness Market Share (%), By Device Type, By Value, 2017-2027
Figure 35: Latin America Virtual Fitness Market Share (%), By Session Type, By Value, 2017-2027
Figure 36: Latin America Virtual Fitness Market Share (%), By Revenue Model, By Value, 2017-2027
Figure 37: Latin America Virtual Fitness Market Share (%), By End-User, By Value, 2017-2027
Figure 38: Latin America Virtual Fitness Market Share (%), By Country, By Value, 2017-2027
Figure 39: Middle East & Africa Virtual Fitness Market Size, By Value (USD Billion), 2017-2027
Figure 40: Middle East & Africa Virtual Fitness Market Share (%), By Streaming Type, By Value, 2017-2027
Figure 41: Middle East & Africa Virtual Fitness Market Share (%), By Device Type, By Value, 2017-2027
Figure 42: Middle East & Africa Virtual Fitness Market Share (%), By Session Type, By Value, 2017-2027
Figure 43: Middle East & Africa Virtual Fitness Market Share (%), By Revenue Model, By Value, 2017-2027
Figure 44: Middle East & Africa Virtual Fitness Market Share (%), By End-User, By Value, 2017-2027
Figure 45: Middle East & Africa Virtual Fitness Market Share (%), By Region, By Value, 2017-2027
List of Tables
Table 1: Global Virtual Fitness Market Size, By Streaming Type, By Value, 2017-2027
Table 2: Global Virtual Fitness Market Size, By Device Type, By Value (USD Billion), 2017-2027
Table 3: Global Virtual Fitness Market Size, By Session Type, By Value (USD Billion), 2017-2027
Table 4: Global Virtual Fitness Market Size, By Revenue Model, By Value (USD Billion), 2017-2027
Table 5: Global Virtual Fitness Market Size, By End-User, By Value (USD Billion), 2017-2027
Table 6: Global Virtual Fitness Market Size, By Region, By Value (USD Billion), 2017-2027
Table 7: North America Virtual Fitness Market Size, By Streaming Type, By Value (USD Billion), 2017-2027
Table 8: North America Virtual Fitness Market Size, By Device Type, By Value (USD Billion), 2017-2027
Table 9: North America Virtual Fitness Market Size, By Session Type, By Value (USD Billion), 2017-2027
Table 10: North America Virtual Fitness Market Size, By Revenue Model, By Value (USD Billion), 2017-2027
Table 11: North America Virtual Fitness Market Size, By End-User, By Value (USD Billion), 2017-2027,
Table 12: Europe Virtual Fitness Market Size, By Streaming Type, By Value (USD Billion), 2017-2027
Table 13: Europe Virtual Fitness Market Size, By Device Type, By Value (USD Billion), 2017-2027
Table 14: Europe Virtual Fitness Market Size, By Session Type, By Value (USD Billion), 2017-2027
Table 15: Europe Virtual Fitness Market Size, By Revenue Model, By Value (USD Billion), 2017-2027
Table 16: Europe Virtual Fitness Market Size, By End-User, By Value (USD Billion), 2017-2027
Table 17: the Asia-Pacific Virtual Fitness Market Size, By Streaming Type, By Value (USD Billion), 2017-2027
Table 18: the Asia-Pacific Virtual Fitness Market Size, By Device Type, By Value (USD Billion), 2017-2027
Table 19: the Asia-Pacific Virtual Fitness Market Size, By Session Type, By Value (USD Billion), 2017-2027
Table 20: the Asia-Pacific Virtual Fitness Market Size, By Revenue Model, By Value (USD Billion), 2017-2027
Table 21: the Asia-Pacific Virtual Fitness Market Size, By End-User, By Value (USD Billion), 2017-2027
Table 22: Latin America Virtual Fitness Market Size, By Streaming Type, By Value (USD Billion), 2017-2027
Table 23: Latin America Virtual Fitness Market Size, By Device Type, By Value (USD Billion), 2017-2027
Table 24: Latin America Virtual Fitness Market Size, By Session Type, By Value (USD Billion), 2017-2027
Table 25: Latin America Virtual Fitness Market Size, By Revenue Model, By Value (USD Billion), 2017-2027
Table 26: Latin America Virtual Fitness Market Size, By End-User, By Value (USD Billion), 2017-2027
Table 27: The Middle-East & Africa Virtual Fitness Market Size, By Streaming Type, By Value (USD Billion), 2017-2027
Table 28: The Middle-East & Africa Virtual Fitness Market Size, By Device Type, By Value (USD Billion), 2017-2027
Table 29: The Middle-East & Africa Virtual Fitness Market Size, By Session Type, By Value (USD Billion), 2017-2027
Table 30: The Middle-East & Africa Virtual Fitness Market Size, By Revenue Model, By Value (USD Billion), 2017-2027
Table 31: The Middle-East & Africa Virtual Fitness Market Size, By End-User, By Value (USD Billion), 2017-2027
Table 32: Health Clubs & Gyms Financial Analysis
Table 33: Health Clubs & Gyms Business Overview
Table 34: Econofitness Financial Analysis
Table 35: Econofitness Business Overview
Table 36: WELLBEATS Financial Analysis
Table 37: WELLBEATS Business Overview
Table 38: Fitness On Demand Financial Analysis
Table 39: Fitness On Demand Business Overview
Table 40: GoodLife Fitness Financial Analysis
Table 41: GoodLife Fitness Business Overview
Table 42: Wexer Financial Analysis
Table 43: Wexer Business Overview
Table 44: Reh-Fit Centre Financial Analysis
Table 45: Reh-Fit Centre Business Overview
Table 46: LES MILLS INTERNATIONAL LTD. Financial Analysis
Table 47: LES MILLS INTERNATIONAL LTD. Business Overview
Table 48: Fit n Fast Financial Analysis
Table 49: Fit n Fast Business Overview
Table 50: Charter Fitness Inc. Financial Analysis
Table 51: Charter Fitness Inc. Business Overview
Table 52: Fitness First Ltd. Financial Analysis
Table 53: Fitness First Ltd. Financial Analysis
Table 52: Fitbit, Inc. Financial Analysis
Table 53: Fitbit, Inc. Business Overview
Table 54: Peerfit, Inc. Financial Analysis
Table 55: Peerfit, Inc. Business Overview
Table 56: Viva Leisure Financial Analysis
Table 57: Viva Leisure Business Overview
Table 58: Sworkit Financial Analysis
Table 59: Sworkit Business Overview
Table 60: Navigate Wellbeing Solution Financial Analysis
Table 61: Navigate Wellbeing Solution Business Overview
Table 62: Peloton Financial Analysis
Table 63: Peloton Business Overview
Table 64: Zwift Inc Financial Analysis
Table 65: Zwift Inc Business Overview
Table 66: Fittr Financial Analysis
Table 67: Fittr Business Overvie
Market Segmentation
By Streaming Type
- Live
- On-Demand
By Device Type
- Smart TV
- Smartphones
- Laptops
- Desktops & Tablets
- Others
By Session Type
- Group
- Solo
By Revenue Model
- Subscription
- Advertisement
- Hybrid
By End-User
- Professional Gyms
- Sports Institutes
- Defense Institutes
- Educational Institutions
- Corporate Institutions
- Individuals
- Others
By Region
- North America
- Europe
- Asia-Pacific (APAC)
- Latin America (LATAM)
- Middle-East & Africa (MEA)
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