Virtual/Online Fitness Market: Global Market Sales, Consumption, Demand and Forecast 2020 – 2026

 

A rise in health consciousness among people globally has magnified Virtual/Online Fitness Market share, due to increasing cases of serious illnesses like cardiovascular diseases, liver and kidney illnesses, cancer, and diabetes. An increase in disposable income among people over the years has supported the demand for consumer electronics such as smartphones, tablets, laptops, and smart TVs, across the globe.

These devices are used to stream the videos online due to their convenience and easy portability. Fitness applications can be downloaded and viewed as and when required. Leading consumer electronics players such as Sony Corporation and Samsung have developed advanced quality smart televisions owing to the surge in demand for multi-functional electronics. These televisions allow the people to access data from the internet in HD thus supporting online fitness classes.

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According to a study, global online fitness market size could reach USD 30 million in total annual remuneration by 2026. Many leading health clubs join hands with companies to allow the integration of gyms in the work environment and boost employee productivity. For example, Retro Fitness- a prominent American health club franchise operating in over 120 locations across the U.S. has offered corporate membership plans to help organizations offer in-person as well as virtual training classes to their employees.

 

With the temporary closure of gyms and fitness clubs due to the coronavirus pandemic, online fitness industry has witnessed a robust increase. With people staying indoors and the growing need to stay fit to enhance immunity, online fitness classes have witnessed notable gains.

Many leading fitness chains, with an aim to continue business and to serve their clients, have shifted to hosting online classes regularly. Fiscal benefits like discounts and promotional campaigns offered by these chains have supported the dependence on virtual fitness classes for people globally. 

 

In terms of regional expanse, European users have emerged as key consumers for virtual services, with growing popularity of on-demand sessions for cardio workouts like exercise bikes, treadmills, and climbers. As per the European Heart Network, cardiovascular diseases are responsible for nearly 45% of the total deaths in the region. Death rates due to Ischemic Heart Disease and stroke are considerably high in the Central and Eastern parts of Europe.

 

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Cardiovascular equipment helps in the maintenance of heart health along with lowering the blood pressure levels. The increasing awareness regarding health and well-being has motivated the consumers to incorporate cardio workouts in their routines to help reduce instances of heart diseases. Many leading technology companies are working towards offering the latest fitness solutions to meet the changing consumer demands and to achieve a competitive edge.

 

For instance, in September 2020, Apple unveiled a new virtual fitness service with a bundle of all its subscription of Apple One.  The launch is a part of the company’s growth strategy to meet the demands of the consumers that are working at home during the pandemic.

The novel Apple Fitness+ Service powered by Apple Watch offers virtual workouts for USD 10 per month or an annual subscription of USD 80 and will be available by the end of 2020. Most of the workouts are designed to be conducted with either no or minimal gear such as a set of dumbbells. Some of the leading online fitness companies in the industry include Viva Leisure, Fitness First, Peerfit Inc., FitnessOnDemand, MoveGB, and Viva Leisure, among various others.

Browse key industry insights spread across 280 pages with 289 market data tables and 28 figures & charts from the report, Virtual/Online Fitness Market in detail along with the table of contents:

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Report Content

Chapter 3.    Virtual/Online Fitness Market Industry Insights

3.1.    Industry segmentation

3.2.    Impact of coronavirus (COVID–19) pandemic

3.2.1.    Global outlook

3.2.2.    Regional outlook

3.2.2.1.    North America

3.2.2.2.    Europe

3.2.2.3.    Asia Pacific

3.2.2.4.    Latin America

3.2.2.5.    MEA

3.2.3.    Industry value chain

3.2.3.1.    Suppliers

3.2.3.2.    Content providers

3.2.3.3.    Marketing & distribution channel

3.2.4.    Competitive landscape

3.2.4.1.    Strategy

3.2.4.2.    Distribution network

3.2.4.3.    Business growth

3.3.    Industry ecosystem analysis

3.3.1.    Software developers

3.3.2.    Technology providers

3.3.3.    Cloud providers

3.3.4.    Content providers

3.3.5.    Service providers

3.3.6.    Distribution channel analysis

3.3.7.    Vendor matrix

3.4.    Technology & innovation landscape

3.4.1.    Impact of IoT

3.4.2.    AI & machine learning

3.4.3.    Cloud computing

3.5.    Regulatory landscape

3.5.1.    North America

3.5.2.    Europe

3.5.3.    Asia Pacific

3.5.4.    Latin America

3.5.5.    MEA

3.6.    Industry impact forces

3.6.1.    Growth drivers

3.6.1.1.    Rising demand for AR & VR based fitness programs

3.6.1.2.    Flexibility of consuming content remotely

3.6.1.3.    Rising awareness about health and well–being

3.6.1.4.    Increasing popularity of online fitness programs among elderly population in Europe

3.6.1.5.    Growing adoption of subscription based virtual fitness training sessions in the U.S. and Asia Pacific

3.6.1.6.    Internet infrastructure development initiatives by government organizations in Latin America and MEA

3.6.2.    Pitfalls and challenges

3.6.2.1.    High cost of content creation

3.6.2.2.    Lack of availability of robust network connectivity in several markets

3.7.    Growth potential analysis

3.8.    Porter’s analysis

3.8.1. Threat of new entrants

3.8.2. Threat of substitutes

3.8.3. Bargaining power of buyers

3.8.4. Bargaining power of suppliers

3.8.5. Industry rivalry

3.9.    PESTEL analysis

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