Online Fitness Market Technology Advancements, Regional Demand and Growth Dynamics to 2026
The online fitness market size is expanding significantly during the forecast timeframe due to the rising demand for AR & VR based fitness programs.
Delaware , United States – August 5, 2021 /MarketersMedia/ —
The online fitness market is impacted by rising health consciousness, growing prevalence of online health consultations, and better internet connectivity. Virtual fitness classes are mainly conducted via live streaming, which enables online fitness coach to carry-out a real-time interactive consultation with trainees and monitor their live performances. Companies like Blink Fitness and 305 Fitness extensively use social media platforms such as Facebook and YouTube to live-stream their fitness sessions.
With a rising preference for comfortable in-office or in-home customized workout sessions, online fitness programs are likely to experience substantial growth in the coming years. According to Global Market Insights, Inc., global online fitness market size is projected to surpass US$30 billion by 2026. Mentioned below are some facts driving the market trends.
Rapid adoption of smartphones
The growing popularity of advanced devices like smartphones and tablets, and the presence of enhanced wireless infrastructure enabling high-definition online video streaming on smart TVs will maintain a sustainable market environment for the online fitness market. Personal laptops are also portable and easy to use gadgets that are extensively used to stream online fitness videos. These devices render the facility to download software applications as per user convenience.
Additionally, the introduction of high-quality smart TVs by prominent companies such as Sony and Samsung will positively influence the demand for HD videos of virtual fitness classes for the superior audio-visual experience. To support people during this COVID-19 pandemic, Fitbit, a wearable giant has announced that it will be offering a 90-day free trial of its Fitbit Premium and Fitbit Coach services, indicating a wider scope for such brands.
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Prevalence of corporate gyms
The growing trend of establishing gyms and fitness programs in corporate premises will propel virtual fitness development. To enhance employees’ work productivity and ensure their health and wellbeing major companies like Intel Corporation, Microsoft Corporation, and Google LLC have highly equipped integrated fitness centers on their premises.
Collaborations of several health clubs with corporate houses to establishing a gymnasium on the premises will help in maintaining a healthy working environment. For example, in a bid to help organizations render in-person and online fitness classes to their employees, a health club franchise Retro Fitness is offering corporate membership plans, with around 120 locations across the U.S.
Prevalence of CVD in Europe
The increasing popularity of on-demand cardio exercise sessions on bikes, treadmills, and climbers in Europe will foster online fitness market expansion in the region. Erratic lifestyle and unhealthy food intake coupled with the rising prevalence of obesity could lead to chronic diseases. As per the European Heart Network (AISBL), nearly 45% out of all deaths in the region are caused by severe cardiovascular diseases. In Central and Eastern Europe, the major cause of deaths in these regions is ischemic heart disease (IHD).
Regular cardio exercises through real-time fitness videos could help in reducing the vulnerability of getting cardiovascular disease. Online real-time videos facilitate exercisers to share their feedback, enquire fitness-related queries, and enhance the all-round workout experience by getting personalized recommendations by trainers instantly.
Cardiovascular equipment for immunity
Cardiovascular equipment plays an important role in reducing extra kilos from the body and maintaining good heart health and lowering blood pressure. These cardio machines contain an integrated output screen that displays important statics regarding the workout. The escalating awareness of physical fitness, health consciousness, and boosting immunity to combat deadly viruses like COVID-19 will positively influence the adoption of cardio exercises and workout session daily among consumers, also needing online instructions.
Amid the COVID-19 lockdown, online fitness platforms are experiencing a rising number of new users as well as prolonged duration time spent while working out through their platforms. For instance, a health and fitness platform, HealthifyMe, has observed a surge of about 20% in the number of sessions users participate per week.
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