Online channels have created lucrative opportunities for the virtual fitness industry as the online fitness programs deliver physical training sessions in either in group sessions or solo sessions. The online training sessions are beneficial for various groups of people, such as working moms or old age people who cannot attend the gym or yoga classes or other sessions physically. These classes can be or are conducted on a schedule and as per the pre-determined slot. The growing demand from millennials and young working professionals has boosted the growth of the global virtual fitness market. Additionally, in the present situation, in the wake of the rapid spread of COVID-19 has forced the public to stay at home and remain fit and healthy, which has further increased the demand for virtual fitness programs.
Global Virtual Fitness Market is expected to register a CAGR of 30.1% during the forecast period, 2020 to 2026. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the coming years.
The global market is driven by the increased demand for advanced fitness sessions and limited time available to attend physical sessions in addition to increased fitness conscious population. However, the lack of awareness about the multiple online services offered by the key industry players is likely to impede market growth. The growing popularity of online fitness programs among the young population is likely to create lucrative opportunities for the new entrants in the industry.
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Geographically, the global virtual fitness market has been segmented into the Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.
North America holds the largest share of the global virtual fitness market. A key factor responsible for the growth of the regional market is the growing inclination towards physical fitness. The presence of large companies and rising awareness of the importance of being fit and healthy among the population in the US is driving the growth of the North American market.
Asia-Pacific is expected to register the fastest growth rate by 2026 because of the rapidly growing health-conscious population in countries such as India, Japan, China, and Thailand.
Global Virtual Fitness Market has been segmented based on Session Type and Region.
Based on the session type, the global market is bifurcated into group and solo. Group sessions are widely preferred as it makes the sessions engaged that people are always motivated to keep working out during the session.
The key players in the global virtual fitness market are Fitness On Demand, GoodLife Fitness, Reh-Fit Centre, Wexer, LES MILLS INTERNATIONAL LTD, WELLBEATS, Fit n Fast Health Clubs & Gyms, conofitness, Charter Fitness Inc., and Fitness First, among others.