Growing with CAGR of 32.7% | The Global Online/Virtual fitness Market Size Reach USD 250.7 Billion by 2032

Rise in need for advanced fitness sessions to achieve physical fitness, fitness institutes and surge in demand for AR & VR based fitness boost the market growth

WILMINGTON, DE, UNITED STATES, November 20, 2024 /EINPresswire.com/ -- Allied Market Research published a new report, titled, " Growing with CAGR of 32.7% | The Global Online/Virtual fitness Market Size Reach USD 250.7 Billion by 2032." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global online/virtual fitness market was valued at $14.9 billion in 2022, and is projected to reach $250.7 billion by 2032, growing at a CAGR of 32.7% from 2023 to 2032.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 – 294 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/3227

The global online/virtual fitness market is driven by factors such as rise in need for advanced fitness sessions to achieve physical fitness, growth in 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 surge in demand for AR & VR based fitness. However, no real interaction with the instructor and interruption in the flow of the class due to tech glitches hampers the online/virtual market growth. On the contrary, growth in popularity of online fitness programs among elderly is expected to offer remunerative opportunities for expansion of the Online or virtual fitness market during the forecast period.

The online or virtual fitness market is segmented on the basis of streaming type, device type, session type, revenue model, end user, and region. On the basis of streaming type, it is categorized into Live and on-demand. On the basis of device type, it is classified into smart TVs, smartphones, laptops desktops and tablets, others. By session type, it is bifurcated into group and solo. Depending on revenue model, it is divided into subscription, advertisement, and hybrid. By age group, the market is classified as professional gyms, sports institutes, defense institutes, educational institutions, corporate institutions, individuals, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

𝐈𝐟 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐚𝐧𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬, 𝐏𝐥𝐞𝐚𝐬𝐞 𝐟𝐞𝐞𝐥 𝐟𝐫𝐞𝐞 𝐭𝐨 𝐜𝐨𝐧𝐭𝐚𝐜𝐭 𝐨𝐮𝐫 𝐚𝐧𝐚𝐥𝐲𝐬𝐭 𝐚𝐭: https://www.alliedmarketresearch.com/connect-to-analyst/3227

Based on device type, the laptops desktops and tablets segment held the highest market share in 2022, accounting around two-fifths of the global online/virtual fitness market revenue and is estimated to maintain its leadership status throughout the forecast period, as it provides better video experiences and storage capability. However, the smartphone segment is projected to manifest the highest CAGR of 34.3% from 2023 to 2032, owing to increase in adoption of smartphones across the globe.

Based on session type, the group segment accounted for the largest share in 2022, contributing to more than three fifths of the global online/virtual fitness market revenue and is estimated to maintain its leadership status throughout the forecast period, as it helps to build fitness and confidence levels before visiting the live classes. However, the solo segment is expected to portray the largest CAGR of 34.5% from 2023 to 2032. This is owing to an increase in the adoption of fitness services which enable convenience of exercising at home, further motivating adoption of virtual fitness programs.

𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/3227

Based on region, North America held the highest market share in terms of revenue in 2022, accounting nearly two-fifths of the global online/virtual fitness market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to significant presence of numerous health and wellness organizations. However, the Asia-Pacific region is expected to witness the fastest CAGR of 35.1% from 2023 to 2032, owing to a rise in adoption of various technological advancements such as AR & VR and bio-sensing wearable devices to make exercise less boring & effective.

The key players that operate in the online/virtual fitness industry 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.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 (294 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/virtual-online-fitness-market/purchase-options

𝐂𝐨𝐯𝐢𝐝-𝟏𝟗 𝐒𝐜𝐞𝐧𝐚𝐫𝐢𝐨

● The online/virtual fitness market witnessed a significant growth during the COVID-19 pandemic, owing to increase in adoption of virtual fitness by larger number of the global population who are working out daily at their homes using virtual/online fitness platforms during the pandemic situation.

● Moreover, the increase in efforts of governments of various countries to encourage healthy lifestyles during the pandemic with a major shift towards online fitness in collaboration with online fitness solutions providers, which, in turn, boosted the growth of the market.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

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