October 27, 2020
According to the research report titled ‘Virtual/Online Fitness Market Size By Streaming Type, By Session Type, By Device Type, By End-Use, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report, global virtual/online fitness market is expected to amass notable gains by the year 2026.
Rising adoption of advanced technologies, increasing smartphone as well as internet penetration and growing popularity of live streaming of numerous fitness programs are major factors driving the growth of global virtual/online fitness market.
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The unexpected outbreak of COVID-19 has compelled worldwide governments to enforce temporary lockdowns of gyms, which in turn has augmented the demand for online fitness solutions. Additionally, availability of free workout routines that require little equipment at affordable prices is further fueling the market expansion.
As per streaming type, global virtual/online fitness industry size from live segment is expected to register considerable growth during the forecast period. Inclination towards live fitness streaming sessions in order to experience personalized workouts is fueling the segmental share. Increasing utilization of online fitness solutions by various trainers is also favoring the overall market scenario.
Moving on to session type, the report states that solo segment is predicted to expand significantly during the estimated timeframe. Solo fitness sessions allow individuals to join pre-recorded or live sessions as per their schedule and convenience, which in turn is facilitating the overall business outlook.
In terms of device type, worldwide virtual/online fitness market share from laptops, desktops, and tablets is anticipated to experience substantial growth during the analysis timespan. Rising adoption of such devices owing to their large display size are boosting the growth of the segment.
Citing the end-user scope, the overall market from educational & sports institutes is reckoned to record remunerative growth in the forthcoming years. Online fitness solutions allow educational & sports institutes to train professional players efficiently without having to leave their respective premises, thereby positively impacting global virtual/online fitness industry trends.
Regionally, virtual/online fitness market in Latin America is expected to record appreciable growth during the projected period. Rising adoption of internet services in Argentina, Brazil and Mexico along with consumer preferences towards using smartphones to view high quality videos is positively swaying the business dynamics in Latin America.
The key participants in global online fitness market are Zwift, Wexer, Wellbeats Inc., Viva Leisure, Sworkit, Reh-Fit Center, Peloton, peerFit Inc., Navigate Wellbeing Solutions, MoveGB, Les Mills International Ltd., Goodlife Fitness Centres Inc., Fittr, FitnessOnDemand, Fitness First, Fit n Fast Health Clubs & Gyms, CONO Fitness, ClassPass Inc., and Charter Fitness Inc. among others.