Virtual Fitness Market is expected to register a CAGR of 5.80% during the forecast period, 2022 to 2030
Global Virtual Fitness Market is expected to register a CAGR of 5.80% during the forecast period, 2022 to 2030. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the coming years.
Virtual Fitness
Market is anticipated to grow at an impressive CAGR of 5.80%
and reach up to 5.2 Billion by 2030. Online channels have created lucrative opportunities
for the virtual fitness industry as the online fitness programs deliver
physical training sessions in either in group sessions or solo sessions. The
online training sessions are beneficial for various groups of people, such as
working moms or old age people who cannot attend the gym or yoga classes or
other sessions physically. These classes can be or are conducted on a schedule
and as per the pre-determined slot. The growing demand from millennials and
young working professionals has boosted the growth of the global virtual
fitness market. Additionally, in the present situation, in the wake of the
rapid spread of COVID-19 has forced the public to stay at home and remain fit
and healthy, which has further increased the demand for virtual fitness
programs.
The global market is driven by the increased demand for advanced fitness
sessions and limited time available to attend physical sessions in addition to
increased fitness conscious population. However, the lack of awareness about
the multiple online services offered by the key industry players is likely to
impede market growth. The growing popularity of online fitness programs among
the young population is likely to create lucrative opportunities for the new
entrants in the industry.
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Regional Analysis
Geographically, the global virtual fitness market has been segmented
into the Asia-Pacific, North America, Europe, the Middle East & Africa, and
South America.
North America holds the largest share of the global virtual fitness
market. A key factor responsible for the growth of the regional market is the
growing inclination towards physical fitness. The presence of large companies
and rising awareness of the importance of being fit and healthy among the
population in the US is driving the growth of the North American market.
Asia-Pacific is expected to register the fastest growth rate by 2026
because of the rapidly growing health-conscious population in countries such as
India, Japan, China, and Thailand.
Segmentation:
Global Virtual Fitness Market has been segmented based on Session Type
and Region.
Based on the session type, the global market is bifurcated into group
and solo. Group sessions are widely preferred as it makes the sessions engaged
that people are always motivated to keep working out during the session.
Key Players
The key
players in the global virtual fitness market are Fitness On Demand, GoodLife
Fitness, Reh-Fit Centre, Wexer, LES MILLS INTERNATIONAL LTD, WELLBEATS, Fit n
Fast Health Clubs & Gyms, conofitness, Charter Fitness Inc., and Fitness
First, among others.
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