Global Virtual & Online Fitness Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Virtual & Online Fitness Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Virtual fitness is an ongoing trend of delivering physical training sessions in groups through online channels.

Market Overview:

The latest research study on the global Virtual & Online Fitness market finds that the global Virtual & Online Fitness market reached a value of USD 2555.88 million in 2022. It’s expected that the market will achieve USD 9325.0 million by 2028, exhibiting a CAGR of 24.08% during the forecast period.

The implementation of the home segregation policy makes people can only exercise at home

Affected by the COVID-19 pandemic, the offline industry has been fully impacted, and users' demand for related industries such as online fitness and home health has risen sharply. People's daily outdoor fitness needs are transformed into home fitness, which needs richer relevant content guidance. Many fitness enthusiasts abandon daily running and outdoor exercise and choose to use online exercise videos and fitness apps at home to keep fit. Many online and virtual fitness service providers also provide free limited-time courses to attract customers during the outbreak. Overall, the outbreak of COVID-19 is bringing development opportunities to the online and virtual fitness industries.

The outbreak of epidemic diseases makes more people realize the importance of fitness

The outbreak of COVID-19 is affecting people's normal life and work. Throughout history, whenever major public health events broke out, the eating habits of the entire human society will change accordingly. In response to the epidemic, in addition to improving health protection measures, more and more people regard improving physical fitness and strengthening immunity as important preventive measures. In the long run, after the epidemic ends, many people may continue to maintain the habit of online fitness to enhance physical function.

Strength

Due to the fast-paced lifestyle and well-developed network facilities, the busy schedule makes fitness enthusiasts increasingly use online training opportunities;
With the improvement of people's health awareness, more people are beginning to realize the benefits of fitness on physical function, and the number of people with sports and fitness habits is increasing;
People's demands for fitness programs show a variety of characteristics. In addition to running, swimming and other popular fitness programs, the demand for customized fitness programs in some economically developed areas will increase.

Weakness

Some fitness enthusiasts have insufficient understanding of the services and courses provided by virtual and online fitness service providers, so many people have not yet tried virtual and online fitness;
It is difficult for virtual and online fitness platforms to accurately provide personalized fitness programs provided by traditional offline gyms. Especially for novice fitness users, it is difficult for them to achieve their fitness goals through online fitness.

Opportunities


The optimization and improvement of products and technology will promote the development of the industry. Such as customized training, injury protection, intelligent equipment and comprehensive testing. With the expansion of the market scale and the improvement of technology, intelligent sports will become a trend;
The development of the online fitness community will inspire people to exercise more. Online social networking is becoming an important part of many people ’s social networks, and developing an online fitness community can help increase user activity and help people maintain their long-term fitness goals.

Threat

In many economically underdeveloped areas, people do not yet have the habit of paying for online fitness courses, so it is difficult to make a profit;
There is no unified industry standard for the online and virtual fitness industries, so customers' fitness goals may be difficult to achieve, which may hinder the expansion of the market.

Region Overview:

Geographically, North America held the largest market share – 32.91% in 2022.

Company Overview:

Peloton is one of the major players operating in the Virtual & Online Fitness market, holding a share of 19.73% in 2023.

Peloton

Peloton is an American fitness equipment and media company founded in 2012. Its main product is a stationary bicycle, which enables users to remotely participate in spinning courses provided by the company's fitness room and pay through a monthly subscription service.

Keep

Keep Inc. operates as a software development company. The Company develops and sells sport mobile software and other products. Keep markets its products throughout China.

Segmentation Overview:

Among different product types, Group segment is anticipated to contribute the largest market share in 2028.

Application Overview:

In the Virtual & Online Fitness market, 76.82% of the total value was generated through the Adults segment by application in 2022.

Key Companies in the global Virtual & Online Fitness market covered in Chapter 3:

LES MILLS INTERNATIONAL LTD
Wexer
Peloton
Keep
Fitness First
GoodLife Fitness
Fittime
Reh-Fit Centre
WELLBEATS
FitnessOnDemand
Charter Fitness Inc.

In Chapter 4 and Chapter 14.2, on the basis of types, the Virtual & Online Fitness market from 2018 to 2029 is primarily split into:

Group
Solo

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Virtual & Online Fitness market from 2018 to 2029 covers:

Adults
Children
The Elderly

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)