Global Online or Virtual Fitness Market Report 2023: Sector is Expected to Reach $190.4 Billion in 2032
Global Online Or Virtual Fitness Market
Dublin, May 04, 2023 (GLOBE NEWSWIRE) -- The "Online Or Virtual Fitness Global Market Opportunities and Strategies to 2032" report has been added to ResearchAndMarkets.com's offering.
This report provides the strategists; marketers and senior management with the critical information they need to assess the global online or virtual fitness market as it emerges from the COVID-19 shut down.
The market is expected to grow from $15,272.69 million in 2022 to $72,137.76 million in 2027 at a rate of 36.41%. The market is then expected to grow at a CAGR of 21.43% from 2027 and reach $190,491.91 million in 2032.
Les Mills International Ltd
Core Health & Fitness
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This report describes and explains the online or virtual fitness market and covers 2017-2022, termed the historic period, and 2022-2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report evaluates the market across each region and for the major economies within each region.
Growth in the historic period resulted from strong economic growth in emerging markets, increased online fitness apps, a rise in digitalization, a growing interest in health insurance and outbreak of coronavirus disease (COVID-19).
Going forward, increasing government support, rising penetration of smart devices and growing popularity of online fitness programs among the elderly population will drive the market growth. Factors that could hinder the growth of the online or virtual fitness market in the future include a rise in interest rates.
The online or virtual fitness market is segmented by device type into smart TV, smartphones, laptops, desktops and tablets and other device types. The smartphones market was the largest segment of the online or virtual fitness market segmented by device type for 38.19% of the total in 2022. Going forward, the smartphones market is expected to be the fastest growing segment in the online or virtual fitness market segmented by education system, at a CAGR of 38.71% during 2022-2027.
The online or virtual fitness market is segmented by revenue model into subscription, advertisement and hybrid. The subscription market was the largest segment of the online or virtual fitness market segmented by revenue model for 50.47% of the total in 2022. Going forward, the hybrid market is expected to be the fastest growing segment in the online or virtual fitness market segmented by revenue model, at a CAGR of 38.62% during 2022-2027.
North America was the largest region in the online or virtual fitness market, accounting for 41.58% of the total in 2022. It was followed by Asia Pacific, and then the other regions. Going forward, the fastest-growing regions in the online or virtual fitness market will be Asia Pacific and Middle East where growth will be at CAGRs of 38.29% and 36.84% respectively. These will be followed by North America and South America where the markets are expected to grow at CAGRs of 36.11% and 35.93% respectively.
The global online or virtual fitness market is fragmented, with a large number of players. The top ten competitors in the market made up to 11.19% of the total market in 2021. This can be due to the existence of number of local players in the market serving customers in particular geographies. Peloton was the largest competitor with 7.45% share of the market, followed by Les Mills International Ltd. with 1.47%, Fitness First with 0.51%, ClassPass Inc. with 0.45%, Core Health & Fitness with 0.39%, Econofitness with 0.35%, Sworkit Company with 0.32%, Daily Burn with 0.17%, Viva Leisure with 0.08% and Reh-Fit Centre with 0.02%.
The top opportunities in the online or virtual fitness market segmented by device type will arise in the smartphones segment, which will gain $24,112.02 million of global annual sales by 2027. The top opportunities in the online or virtual fitness market segmented by revenue model will arise in the subscription segment, which will gain $30,093.45 million of global annual sales by 2027. The online or virtual fitness market size will gain the most in the USA at $17,838.27 million.
Market-trend-based strategies for the online or virtual fitness market include focus on artificial intelligence for virtual fitness, focus on virtual fitness stations, focus on innovative fitness apps and focus on strategic partnerships and collaborations.
Player-adopted strategies in the online or virtual fitness market include focus on enhancing business operations through the launch of new solutions, focus on providing premium hybrid fitness solutions through strategic collaborations and partnerships and focus on strengthening business activities through strategic acquisitions.
No. of Pages
2021 - 2031
Estimated Market Value (USD) in 2021
Forecasted Market Value (USD) by 2031
Compound Annual Growth Rate
Key Topics Covered:
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
6. Introduction and Market Characteristics
6.1. General Market Definition
6.3. Online Or Virtual Fitness Market Definition And Segmentations
6.4. Market Segmentation By
6.4.1. Smart TV
6.4.3. Laptops, Desktops and Tablets
6.4.4. Other Device Types
6.5. Market Segmentation By Revenue Model
7. Major Market Trends
7.1. Artificial Intelligence For Virtual Fitness
7.2. Focus On Virtual Fitness Station
7.3. Focus On Innovative Fitness Apps
7.4. Strategic Partnership And Collaboration
8. Global Market Size and Growth
8.1. Market Size
8.2. Historic Market Growth, 2017 - 2022, Value ($ Million)
8.2.1. Market Drivers 2017 - 2022
8.2.2. Market Restraints 2017 - 2022
8.3. Forecast Market Growth, 2022 - 2027, 2032F Value ($ Million)
8.3.1. Market Drivers 2022 - 2027
8.3.2. Market Restraints 2022 - 2027
9. Global Online Or Virtual Fitness Market Segmentation
9.1. Global Online Or Virtual Fitness Market, Segmentation By Device Type, Historic And Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
9.2. Global Online Or Virtual Fitness Market, Segmentation By Revenue Model, Historic And Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
10. Online Or Virtual Fitness Market, Regional and Country Analysis
10.1. Global Online Or Virtual Fitness Market, By Region, Historic and Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
10.2. Global Online Or Virtual Fitness Market, By Country, Historic and Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
For more information about this report visit https://www.researchandmarkets.com/r/10ccdo
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