Overview
The global Virtual Fitness Market is expected to score 5.80% CAGR over the forecast period. Virtual fitness has captured the imagination of health enthusiasts and workout rats due to the success of high-speed internet. The rise of virtual exercises amid the COVID-19 pandemic and the comfort of working out from the confines of homes can propel the market to new heights. The Virtual Fitness Market report by Market Research Future (MRFR) covers drivers, challenges, trends, and niches for the period of 2022 to 2030 (forecast period). The COVID-19 outbreak and its impact on the industry have been explored in the report.
Market Scope
The global virtual fitness market is expected to score 30.1% CAGR over the forecast period. It is driven by the popularity of online solo and group fitness classes taken by reputed instructors. The emphasis on fitness in current sedentary lifestyles, the rise of online instructors, and a bevy of online platforms for promoting healthy lifestyles can drive the market demand. Furthermore, rising living standards and huge mobile phone markets in developing economies can bode well for the market.
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The social distancing measures enforced due to the COVID-19 pandemic have resulted in a surge of virtual fitness app downloads. Streaming of workouts and regular sessions on messaging applications can bode well for the market. The rise of premium clubs dedicated to fitness and the need for exclusive training can provide opportunities of growth to the global virtual fitness market. The use of smartphone apps due to the penetration of smart devices and the benefits of regular workouts will fuel the market growth till 2026.
But lack of awareness of virtual fitness among smartphone-devoid consumers can hamper the market growth.
Segmentation
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. Offering on sessions based on personal preference and option to join virtually can drive the market demand during the forecast period. On the flip side, the solo segment can capture a significant market share owing to personalized trainer attention. In addition, its popularity among working employees struggling with time management can drive its demand in the global virtual fitness market.
Competitive Landscape
Fit n Fast Health Clubs Gyms, Fitness First, Wexer, LES MILLS INTERNATIONAL LTD, conofitness, Reh-Fit Centre, WELLBEATS, GoodLife Fitness, Charter Fitness Inc., and Fitness On Demand are key players of the global virtual fitness market.
Regional Analysis
Geographically, the virtual fitness market has been segmented into Asia Pacific (APAC), North America, Europe, the Middle East Africa (MEA), and South America.
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