The latest report by IMARC Group, titled ““Virtual Fitness Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“.The global virtual fitness market size reached US$ 16.07 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 94.30 Billion by 2028, exhibiting a growth rate (CAGR) of 31.50% during 2023-2028.
Virtual fitness, often referred to as online fitness or remote fitness, is a dynamic sector within the fitness industry that has gained substantial traction in recent years. It encompasses a wide range of digital platforms and services designed to provide fitness enthusiasts with accessible and engaging workout experiences from the comfort of their homes or on-the-go. It leverages technology, including streaming workouts, interactive apps, and wearable devices, to offer users a convenient and personalized approach to achieving their fitness goals. This innovative fitness solution has reshaped the way individuals access exercise routines, making it more flexible and adaptable to their lifestyles.
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Virtual Fitness Market Trends and Drivers:
The global virtual fitness market is experiencing significant growth driven by the increasing demand for flexibility in fitness routines. Busy lifestyles and the need for convenient workout options have led consumers to turn to digital platforms that offer 24/7 accessibility. Additionally, the COVID-19 pandemic accelerated the virtual fitness trend as lockdowns and social distancing measures prompted a surge in home-based workouts. Moreover, virtual fitness has witnessed innovation in content diversity. The market now boasts a wide array of fitness programs, ranging from yoga and high-intensity interval training (HIIT) to specialized programs such as virtual cycling and dance classes. This diversity caters to various fitness preferences and skill levels, attracting a broad audience. Furthermore, the integration of wearable technology and real-time tracking features enhances the user experience, allowing individuals to monitor their progress and stay motivated. The market is also witnessing a surge in partnerships between fitness influencers, trainers, and virtual fitness platforms, creating a synergistic ecosystem that offers expert guidance and diverse workout options. On account of these factors the market is expected to witness positive growth in coming years.
Report Segmentation:
The report has segmented the market into the following categories:
Session Type Insights:
- Group
- Solo
Streaming Type Insights
- Live
- On-Demand
Device Type Insights:
- Smart TV
- Smartphones
- Laptops and Desktops
- Tablets
Revenue Model Insights
- Subscription
- Advertisement
- Hybrid
End User Insights:
- Professional Gyms
- Sports Institutes
- Defense Institutes
- Educational Institutions
- Corporate Institutions
- Individuals
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Econofitness
- Fitness On Demand
- Les Mills International Ltd.
- Mindbody Inc.
- Move Technologies Group Ltd.
- Nexercise Inc.
- Peloton Interactive Inc.
- Viva Leisure Limited
- VIXY BV
- Wellbeats Inc. (LifeSpeak (USA) Inc.)
- Wexer Virtual Limited
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