Online/Virtual Fitness Market Projected To Display A Robust Growth by 2027

Online/Virtual Fitness Market Projected To Display A Robust Growth by 2027

Online Fitness Market

The rising demand from millennials and young working professionals has fueled the worldwide virtual fitness market’s expansion.

PORTLAND , PORTLAND, OR, UNITED STATE, September 8, 2022 /EINPresswire.com/ — An increase in the trend toward having a healthy lifestyle, lack of time among people to attend training sessions at fitness institutes, surge in demand for AR & VR based fitness regimes, and shutdown of gyms and studios due to the ongoing COVID-19 situation drive the growth of the global online fitness market.

On the other hand, interruptions in the flow of the sessions due to several tech glitches impede the growth to some extent. Nevertheless, the growing popularity of online fitness programs among the elderly population is expected to create lucrative opportunities in the industry.

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Covid-19 scenario-

• As, fitness clubs & gyms have been shut down and people are staying indoors, there has been a significant surge in the drift towards installing online fitness apps among people.

• This inclination is likely to continue even in the post-pandemic scenario, as these apps tend to offer a lot of advantages in terms of helping individuals set particular fitness goals and achieve the same within a certain timeframe.

Based on session type, the group segment accounted for nearly two-thirds of the global online/virtual fitness market share in 2019 and is projected to lead the trail by the end of 2027. This is because the majority of users tend to prefer virtual groups fitness classes as it helps to build fitness and confidence levels during the live sessions.

The solo segment, on the other hand, would manifest the fastest CAGR of 35.7% throughout the forecast period. The outbreak of coronavirus has led to increased expenditure on individual workout sessions due to the shutdown of gyms, studios, etc. as the focus on personal & mental health has escalated during this time.

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Based on the revenue model, the subscription segment contributed to nearly half of the global online fitness market revenue in 2019 and is anticipated to rule the roost until 2027, due to its cost-effectiveness as compared to signing up with a coach in person.

Simultaneously, the hybrid segment would portray the fastest CAGR of 35.9% during the study period, due to its ability to reach a range of customers including those willing to access features of the paid virtual fitness programs on a free trails basis as well as those willing to pay on a pay-per-view basis or to purchase a subscription plan for removing ads.

Based on geography, North America held the highest share in 2019, garnering nearly two-fifths of the global online/virtual fitness market. The rising focus on precision medicine and personalized care are increasing across the adult age group in North America which, in turn, is propelling the growth of the market.

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At the same time, Asia-Pacific would register the fastest CAGR of 36.8% from 2020 to 2027. This is because the proliferation of mobile devices and pro-fitness government policies are giving way to the rise in the adoption of virtual/online fitness solutions among people in the province.

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1. Fitness App Market

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