Virtual Fitness Market Size, Growth & Global Forecast 2032
IMARC Group’s report titled “Virtual Fitness Market by Session Type (Group, Solo), Streaming Type (Live, On-Demand), Device Type (Smart TV, Smartphones, Laptops and Desktops, Tablets), Revenue Model (Subscription, Advertisement, Hybrid), End User (Professional Gyms, Sports Institutes, Defense Institutes, Educational Institutions, Corporate Institutions, Individuals, and Others), and Region 2024–2032”. 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.
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Factors Affecting the Growth of the Virtual Fitness Industry:
- Personalization and Accessibility:
Virtual fitness is gaining traction due to its unparalleled personalization and accessibility. These factors make it an attractive option for individuals seeking customized and convenient fitness solutions. Virtual platforms often use artificial intelligence (AI) and machine learning (ML) algorithms to analyze user data and preferences. This data-driven approach allows for the creation of customized training plans that take into account an individual’s fitness goals, past performance, and specific limitations and preferences. As a result, users can enjoy a training routine that is not only effective, but also fun and sustainable.
- Global Health Awareness:
Rising awareness towards health and wellness among the masses is fuelling the market growth. With the growing importance of living a healthy lifestyle, people are turning to virtual fitness as a convenient and effective means to achieve their fitness goals. Moreover, the growing importance of staying healthy has prompted many to incorporate regular exercise into their daily routine. Virtual fitness platforms offer a variety of fitness options, ranging from yoga and pilates to high-intensity interval training (HIIT) and dance workouts, catering to diverse tastes and fitness levels.
- Technological Advancements:
The integration of Augmented Reality (AR) and Virtual Reality (VR) technologies into fitness platforms is changing the way individuals engage with their workouts. AR and VR technologies provide users with an immersive and engaging fitness experience. Users can step into a virtual environment through a VR headset or an AR application on their smartphone, making their workout feel like an exciting adventure rather than a chore. This increased engagement not only encourages users to continue with their fitness routine but also makes the workout more effective.
Leading Companies Operating in the Global Virtual Fitness Industry:
- 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
Virtual Fitness Market Report Segmentation:
By Session Type:
- Group
- Solo
Group represents the largest segment as it enables a large group of individuals to enjoy workout sessions together.
By Streaming Type:
- Live
- On-Demand
On-demand exhibits a clear dominance in the market. They are effective and customized according to specific fitness requirements.
By Device Type:
- Smart TV
- Smartphones
- Laptops and Desktops
- Tablets
Smartphones hold the biggest market share owing to their extensive usage among the masses for accession various virtual fitness apps.
By Revenue Model:
- Subscription
- Advertisement
- Hybrid
Subscription accounts for the majority of the market share due to their user-friendliness and affordability.
By End User:
- Professional Gyms
- Sports Institutes
- Defense Institutes
- Educational Institutions
- Corporate Institutions
- Individuals
- Others
Professional gyms represent the leading market segment driven by the rising number of gym goers around the world.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America’s dominance in the virtual fitness market is attributed to investment in research and development (R&D), leading to the creation of user-friendly and interactive fitness apps.
Global Virtual Fitness Market Trends:
Virtual fitness is a cost-effective alternative to traditional gym memberships and personal training sessions. Many virtual fitness platforms offer a subscription-based model that provides access to a vast library of workouts, classes, and fitness resources for a fraction of the cost of in-person fitness services. This affordability makes virtual fitness an attractive option for budget-conscious individuals who still want a high-quality workout experience. Additionally, many virtual workouts can be performed with minimal or no equipment at all, eliminating the need for expensive fitness equipment.
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