The Online/Virtual Fitness Market was anticipated to be worth $14.9 billion in 2022 and is predicted to increase to $250.7 billion by 2032, with a CAGR of 32.7% over that period.
The development in technical advancements like AR/VR for virtual fitness visibility and the rising demand for more advanced fitness sessions to achieve physical fitness both significantly contribute to the market’s growth. The development of the online/virtual fitness market, however, may be hampered by the lack of social engagement and encouragement in the virtual fitness classes as well as disruptions in the online class’s flow caused by technical issues.
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Furthermore, increase in need for advanced fitness sessions to achieve physical fitness, growing interest of health insurance providers in online/virtual fitness services to reduce health insurances costs, increase in demand for healthy foods, Lack of time to attend training sessions at fitness institutes, and rising demand for AR & VR based fitness is boosting the growth of the global Online or virtual fitness market. In addition, shutdown of gyms and studios due to ongoing COVID-19 Pandemic situation is positively impacting growth of the online or virtual fitness market.
However, no real interaction with the instructor and interruption in the flow of the class due to tech glitches is hampering the online or virtual fitness market growth. On the contrary, growing popularity of online fitness programs among elderly is expected to offer remunerative opportunities for expansion during the online/virtual fitness market forecast
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The Online/Virtual Fitness market is experiencing explosive growth, fueled by the proliferation of digital fitness platforms and the shift toward virtual workouts. These platforms offer a wide range of fitness classes, from yoga and HIIT to dance and meditation, accessible from the comfort of one’s home. The convenience and flexibility of virtual fitness have attracted users of all fitness levels and ages, driving market expansion.
A significant trend is the integration of wearables and artificial intelligence (AI) into online fitness experiences. Wearable fitness trackers and smartwatches sync with virtual workouts, providing real-time data on heart rate, calories burned, and performance metrics. AI-driven algorithms personalize workout recommendations and adapt exercises based on individual progress and goals, enhancing the effectiveness of online fitness programs.
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Region-wise, the online/virtual fitness market share was dominated by North America in 2022, and is expected to retain its position during the forecast period, owing to, increase in demand for innovative fitness platforms is attributed to the rising prevalence of chronic diseases including CVDs (Cardiovascular diseases), obesity, and diabetes, particularly in the U.S. and Canada. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to growing governmental regulations pertaining to fitness are facilitating the widespread implementation of virtual fitness platform.
The key players profiled in the online/virtual fitness market analysis are ClassPass Inc., Fitbit, Inc., FitnessOnDemand, Les Mills International Ltd., Navigate Wellbeing Solutions, Peerfit, Inc., Reh-Fit Centre, Sworkit, Viva Leisure, and Wellbeats, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the online/virtual fitness industry.
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