Virtual Fitness Market Is Expected to Register a Growth of 30.1% CAGR by 2026 | Virtual Fitness Rising Due to Increasing Use During COVID-19 Pandemic

Top leaders In Virtual Fitness Market are Charter Fitness Inc., conofitness, Fit n Fast Health Clubs & Gyms, WELLBEATS, LES MILLS INTERNATIONAL LTD, Wexer, Reh-Fit Centre, GoodLife Fitness, and Fitness On Demand

Pune, June 07, 2021 (GLOBE NEWSWIRE) -- Market Analysis
The virtual fitness market is lucrative and is predicted to witness significant growth at a healthy 30.01% CAGR over the forecast period (2020- 2026), reveals the Market Research’s (MRFR) virtual fitness market forecast report. Online or virtual workout, simply put, is the next generation fitness revolution. This is a convenience-based wellness/fitness service to the users to access an instructor or trainer virtually/online rather than visiting any fitness facility. Fitness training videos generally are offered on fitness apps or online dashboards, which are managed by the fitness instructor. Additionally, the virtual fitness sensors in wearable and smartphones allow various virtual fitness applications like running rhythm tracking and sleep monitoring to improve the health and lifestyle of the user. The various forms of virtual or online fitness offerings will allow accessibility of wellness and health to every person from housewives to shift workers and anyone who cannot visit or are not keen to visit the gym.

Alluring Features that Fuel Market Growth
As per the MRFR report, there are numerous factors that are propelling the virtual fitness market size. These include the growing need for advanced fitness sessions, no time to attend physical sessions, increased fitness conscious population, growing popularity of online fitness programs, increasing inclination towards having a healthy lifestyle, a surge in demand for VR and AR based fitness regime, shutdown of studios and gyms due to the COVID-19 outbreak, increasing need for advanced fitness sessions to attain physical fitness, and growing interest of health insurance providers in online/virtual fitness services to reduce health insurance costs. Besides, the growing demand for healthy foods, growing concerns for cardiac associated diseases, demand for online group fitness sessions, and increasing digitalization are adding to the virtual fitness market opportunities and virtual fitness market trends. 

On the contrary, tech glitches, lack of real interaction with the instructor, and lack of awareness are factors that may restrict the global virtual fitness market share over the forecast period.

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COVID-19 Impact on the Global Virtual Fitness Market
The ongoing COVID-19 crisis, fortunately, had a positive impact on the global virtual fitness market growth. Owing to lockdowns and social distancing trends imposed by the government during the first quarter of 2020, gyms and fitness clubs were shut down to prevent the transmission of the deadly virus, thus leading to a surge in the installation of online fitness apps. The majority of the people are working out on a day to day basis at home through the help of online/virtual fitness platforms. Blink Fitness, for instance, a leading fitness chain in the United States, is hosting online/virtual workout sessions on Facebook in order to keep the members engaged during the pandemic in physical activities.

On the one hand, this inclination towards virtual fitness is likely to continue in the post pandemic scenario because these apps dole out several advantages with regards to helping individuals set precise fitness goals and attain the same in a definite timeframe. On the other, with the gradual opening of fitness clubs and gyms following a relaxation in lockdowns, the need for virtual fitness may fall slightly.

Market Segmentation 
The Market Research Future report offers an inclusive analysis of the virtual fitness market based on session type.

By session type, the global virtual fitness market has been bifurcated into solo and group. Of these, group sessions will lead the market over the forecast period as it makes sessions engaged and people are kept motivated to working out during the session.

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Regional Analysis
North America to Govern Virtual Fitness Market
By region, the global virtual fitness market covers growth opportunities and the latest trends across Europe, the Asia Pacific (APAC), North America, South America, and the Middle East and Africa (MEA). Of these, North America will govern the virtual fitness market over the forecast period. Rising inclination towards physical fitness, the presence of several large companies, growing awareness about the significance of being healthy and fit among people in the US, the presence of several wellness and health organizations, the focus on personalized care and precision medicine, and the growing adoption of AR and VR technology for workouts are adding to the global virtual fitness market growth in the region.

APAC to Grow at Fast Pace in Virtual Fitness Market
In the APAC region, the global virtual fitness market is predicted to grow at a fast pace over the forecast period. Rapidly growing health-conscious people in Thailand, Japan, China, and India, the proliferation of pro-fitness government policies and mobile devices, live streaming fitness classes being a cost-effective solution, and different product launches by fitness tech start-ups to expand their reach are adding to the global virtual fitness market growth in the region.

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Competitive Landscape 
The virtual fitness market is highly fragmented and competitive in nature with the presence of several well-established industry players. They have encompassed several strategies to widen their portfolios and also create hold in the market, such as mergers and acquisitions, partnerships, strategic alliances, new product launches, and others.

Notable Players Operating In The Global Virtual Fitness Market Include:

  • Trimble Inc (US)
  • Fitness First
  • Charter Fitness Inc.,
  • Conofitness
  • Fit n Fast Health Clubs & Gyms
  • Wexer
  • Reh-Fit Centre
  • GoodLife Fitness
  • Fitness On Demand

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Industry News
February 2021- Functional Fitness is offering virtual exercising with the help of Stanley County Senior Center.

February 2021- WRKOUT has launched its first-of-a-kind, live interactive virtual personal training platform. Members have the liberty to choose from a worldwide pool of talented, vetted, and qualified trainers, manage their schedule, book sessions, and view billing and history all within the platform. Trainers can operate using industry-specific tools that range from payment and marketing processing to building functionalities. The in-session experience will feature proprietary tools such as whiteboarding, screen analysis/capture, and on-screen timers.

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