Global Virtual Fitness Market Expanding at a 45% CAGR, Total Revenue is Anticipated to Reach USD 59 Billion by 2027 | IGR

(Heraldkeepers via Comtex)

The global virtual fitness market is projected to grow at a CAGR of 45% over the forecast period of 2021-2027. The global virtual fitness market was valued at around USD 6.4 billion in 2021 and is expected to reach over USD 59 billion in 2027.

Infinium Global Research's recent report on the "Virtual Fitness Market (by Streaming Type (Live, and On-demand), Device Type (Smart TV, Smartphones, Laptops Desktops & Tablets, and Others), Session Type (Group and Solo), Revenue Model (Subscription, Advertisement, and Hybrid) and End User (Professional Gyms, Sports Institutes, Defense Institutes, Educational Institutions, Corporate Institutions, Individuals, and Others)) Global Industry Analysis, Trends, Market Size & Forecasts to 2027" provides a comprehensive outline of the factors responsible for the growth of the market. The global virtual fitness market is projected to grow at a CAGR of 45% from 2021-2027. The global virtual fitness market was valued at around USD 6.4 billion in 2021 and is expected to reach over USD 59 billion in 2027.

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"We are Now Including the Impact Analysis of the COVID-19 on this Premium Report and the Forecast Period of this Report shall be Revised to 2022-2028.”

The Section on the Impact of COVID-19 on this Market is Included in the Report for Free.

Growing Popularity of the Concept of Virtual Fitness amongst the Population in Developing Economies Presents Lucrative Opportunities

Nowadays a number of fitness companies and workout studios are offering free virtual classes so that people can still get their routine fitness activity and sweat it out at home each day. Moreover, Virtual workouts allow following a sweat session as per your own comfort zone and time. Virtual classes are often a gateway to live group fitness classes. The different forms of online or virtual fitness offerings allow accessibility of health & wellness to every individual from their work hours to housewives and any person who may not be keen or able to visit the gym.

The importance and benefit of living a healthy lifestyle were stopped with the spread of COVID-19. The COVID-19 pandemic forced governments to impose lockdowns and social distancing norms across various countries, which led to the closure of gyms, fitness clubs, and swimming pools. People were restricted to move out of their houses, which gave online fitness businesses an opportunity to grow during this period of time. Many fitness services providing companies and fitness trainers began to provide online consultations to people in the form of live online classes and videos as per the demands.

Live Stream Segment of the Global Virtual Fitness Market will have the Fastest Growth

This segment's key features include variety, comfort, and convenience. Through the Live streaming platform, people are able to attend virtual classes for workouts including Pilates, yoga, toning & dancing classes celebrity trainer classes, and Barre. The demand for such classes has increased nowadays by the young population which finds it difficult to attend gym and fitness clubs due to busy schedules in their work. Live Streaming workout videos are also available on social media platforms like Facebook, YouTube, Twitter, Twitch, etc. This is one of the biggest benefits of live streaming video that is growing amongst the audience.

The North America Region to Dominate in Virtual Fitness Market

In terms of region, North America generated the largest revenue in the global Virtual Fitness market in 2020 and is expected to remain the leading market over the forecast years. The demand for innovative fitness platforms is increasing due to the convenience and comfort offered in this region. Furthermore, the Asia Pacific region is expected to grow at the fastest rate in the Virtual Fitness market over the forecast period. The mobile devices-based health & wellness apps that provide on-demand and live streaming fitness classes appear to be cost-effective solutions in developing nations across Asia-Pacific. Furthermore, several health-tech startups are introducing different apps to increase their reach in the developing nation and, expand the market for virtual fitness programs.

Key Players Focusing to Increase the Production Capacity by Collaborating with other Companies

The Virtual Fitness market is intensely competitive with the presence of several multinational and local players. The major players are Fitbit, Inc., ClassPass Inc., FitnessOnDemand, Peloton, Wellbeats, Inc., Zwift Inc, REH-FIT, Les Mills International Ltd., Sworkit, and Navigate Wellbeing Solutions, and several others are constantly focusing on developing new services to gain a competitive edge in the market. These companies are adopting numerous market strategies including new product launches, collaboration, and mergers & acquisitions with numerous other companies at the country level.

For instance, in October 2020, Exer Labs raises $2 million and launches a computer vision app for Peloton-style coached workouts. Infinium Global Research's recent report on the global Virtual Fitness market is an encompassment of such recent developments in the global marketplace. The report delivers insights into the recent developments by leading players that have contributed to the growth of the Virtual Fitness market and also estimates the impact of recent developments in the global market.

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Table of Content

Chapter 1. Preface

1.1. Report Description

1.2. Research Methods

1.3. Research Approaches

Chapter 2. Executive Summary

2.1. Virtual Fitness Market Highlights

2.2. Virtual Fitness Market Projection

2.3. Virtual Fitness Market Regional Highlights

Chapter 3. Global Virtual Fitness Market Overview

3.1. Introduction

3.2. Market Dynamics

3.2.1. Drivers

3.2.2. Restraints

3.2.3. Opportunities

3.3. Analysis of COVID-19 impact on the Virtual Fitness Market

3.4. Porter’s Five Forces Analysis

3.5. IGR-Growth Matrix Analysis

3.6. Value Chain Analysis of Virtual Fitness Market

Chapter 4. Virtual Fitness Market Macro Indicator Analysis

Chapter 5. Global Virtual Fitness Market by Streaming Type

5.1. Live

5.2. On-demand

Chapter 6. Global Virtual Fitness Market by Device Type

6.1. Smart TV

6.2. Smartphones

6.3. Laptops Desktops & Tablets

Chapter 7. Global Virtual Fitness Market by Session Type

7.1. Group

7.2. Solo

Chapter 8. Global Virtual Fitness Market by Revenue Model

8.1. Subscription

8.2. Advertisement

8.3. Hybrid

Chapter 9. Global Virtual Fitness Market by End User

9.1. Professional Gyms

9.2. Sports Institutes

9.3. Defense Institutes

9.4. Educational Institutions

9.5. Corporate Institutions

9.6. Individuals

Chapter 10. Global Virtual Fitness Market by Region 2021-2027

10.1. North America

10.2. Europe

10.3. Asia-Pacific

10.4. RoW

Chapter 11. Company Profiles and Competitive Landscape

11.1. Competitive Landscape in the Global Virtual Fitness Market

11.2. Companies Profiles

11.2.1. Fitbit, Inc

11.2.2. ClassPass Inc

11.2.3. FitnessOnDemand

11.2.4. Peloton

11.2.5. Wellbeats, Inc.

11.2.6. Zwift Inc

11.2.7. REH-FIT

11.2.8. Les Mills International Ltd

11.2.9. Sworkit

11.2.10. Navigate Wellbeing Solutions

More Insights on This Report, Speak to our Analyst: https://www.infiniumglobalresearch.com/reports/enquiry/36028

Reasons to Buy this Report:

=> Comprehensive analysis of global as well as regional markets of virtual fitness.

=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2027.

=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand and/or diversify.

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