Virtual Fitness Market

Market Overview:

The global virtual fitness market size reached US$ 21.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 243.6 Billion by 2032, exhibiting a growth rate (CAGR) of 30.68% during 2024-2032. The increasing focus on a healthy lifestyle, rising expenditure capacities of consumers, and growing internet penetration represent some of the key factors driving the market.

Virtual fitness is a form of online training that provides fitness-related services, instruction, and support remotely. Smart TVs, smartphones, laptops, desktops, and tablets are some of the devices used to access virtual fitness. It is provided through training videos offered through an app or online dashboard run by the coach that includes live and on-demand streaming. Virtual fitness allows individuals to access fitness resources and guidance from anywhere, any time, making it a convenient and flexible way to stay active and healthy. It is also a flexible, safe, and cost-effective way to reach a wider range of people that offers a wide range of workout options. Besides this, virtual fitness also provides personalized workout plans and coaching to individuals with varying fitness goals and preferences.

Virtual Fitness Market Trends:

The increasing focus on a healthy lifestyle among the masses is one of the key factors driving the market growth. Virtual fitness is widely adopted due to the growing awareness of the importance of physical activity and healthy lifestyles that help in reducing the risk of chronic diseases, improve mental health, and enhance the overall quality of life. In line with this, the widespread adoption of virtual fitness, owing to its ability to access workouts and fitness classes from anywhere, is favoring the market growth. Additionally, the increasing demand for virtual fitness classes among the working population due to their busy schedules and hectic lifestyles is acting as another growth-inducing factor. Apart from this, the integration of artificial intelligence (AI) in virtual fitness platforms to provide personalized workout plans, track progress, and offer feedback on form and technique is providing an impetus to the market growth. Moreover, rising digitization and the launch of wearable fitness devices such as fitness trackers, smartwatches, and heart rate monitors that provide real-time feedback on fitness activity, making it easier to track progress and adjust workouts, is creating a positive outlook for the market. Furthermore, the increasing adoption of virtual fitness during the COVID-19 pandemic due to the limited access to in-person fitness options and the growing focus on healthy lifestyles is propelling the market growth. Other factors, including rising expenditure capacities of consumers, increasing internet penetration, widespread adoption among millennials owing to its higher flexibility and accessibility, and the shifting preferences of consumers to online fitness solutions, are anticipated to drive the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global virtual fitness market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on session type, streaming type, device type, revenue model, and end user.

Session Type Insights:

• Group
• Solo
   

The report has provided a detailed breakup and analysis of the virtual fitness market based on the session type. This includes group and solo. According to the report, group represented the largest segment.

Streaming Type Insights

• Live
• On-Demand
   

A detailed breakup and analysis of the virtual fitness market based on the streaming type has also been provided in the report. This includes live and on-demand.  According to the report, on-demand accounted for the largest market share.

Device Type Insights:

• Smart TV
• Smartphones
• Laptops and Desktops
• Tablets
   

A detailed breakup and analysis of the virtual fitness  market based on the device type has also been provided in the report. This includes smart TV, smartphones, laptops and desktops and tablets. According to the report, smartphones accounted for the largest market share.

Revenue Model Insights

• Subscription
• Advertisement
• Hybrid
   

A detailed breakup and analysis of the virtual fitness market based on the revenue model has also been provided in the report. This includes subscription, advertisement and hybrid. According to the report, subscription accounted for the largest market share.

End User Insights:

• Professional Gyms
• Sports Institutes
• Defense Institutes
• Educational Institutions
• Corporate Institutions
• Individuals
• Others
   

A detailed breakup and analysis of the virtual fitness market based on the end user has also been provided in the report. This includes professional gyms, sports institutes, defense institutes, educational institutions, corporate institutions, individuals, and others. According to the report, professional gyms accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for virtual fitness. Some of the factors driving the North America virtual fitness market included the shifting preferences of consumers to online fitness solutions, significant technological advancements, and rising health consciousness.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global virtual fitness market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include 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, etc.  Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global virtual fitness market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global virtual fitness market?
• What is the impact of each driver, restraint, and opportunity on the global virtual fitness market?
• What are the key regional markets?
• Which countries represent the most attractive virtual fitness market?
• What is the breakup of the market based on the session type?
• Which is the most attractive session type in the virtual fitness market?
• What is the breakup of the market based on the streaming type?
• Which is the most attractive streaming type in the virtual fitness market?
• What is the breakup of the market based on the device type?
• Which is the most attractive device type in the virtual fitness market?
• What is the breakup of the market based on the revenue model?
• Which is the most attractive revenue model in the virtual fitness market?
• What is the breakup of the market based on the end user?
• Which is the most attractive end user in the virtual fitness market?
• What is the competitive structure of the global virtual fitness market?
• Who are the key players/companies in the global virtual fitness  market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the virtual fitness market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global virtual fitness market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the virtual fitness industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.