The global virtual fitness market was valued at USD 16.45 billion in 2022 and it is predicted to surpass around USD 176.33 billion by 2032 with a CAGR of 26.77% from 2023 to 2032.
Key Pointers
Report Scope of the Virtual fitness Market
| Report Coverage | Details |
| Market Size in 2022 | USD 16.45 billion |
| Revenue Forecast by 2032 | USD 176.33 billion |
| Growth rate from 2023 to 2032 | CAGR of 26.77% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Covered | MINDBODY, Inc.; ClassPass Inc.; Fitness On Demand; Les Mills International Ltd.; Unscreen, Navigate Wellbeing Solutions; Sworkit (Nexercise, Inc); VIXY BV; Move Technologies Group Ltd; Wellbeats, INC.; Wexer |
The growth is driven by factors such as the rapid shift of consumers to online fitness solutions from in-person workouts in gyms. Online solutions continue to rise in popularity among key demographic groups such as millennials. In addition, increased stress levels, increased health consciousness, and higher flexibility and accessibility offered by remote workouts are likely to boost the market growth.
Increasing focus on healthy lifestyle coupled with the continuously rising popularity of balanced diets, flexible workouts, and mental health are favoring the market. Due to the increasing demand for online instructors and sessions, service providers are implementing various business models to meet client needs. For instance, in April 2020, My Virtual Mission launched the ‘Race Host’ platform. With the help of this platform, entrepreneurs, companies, and nonprofit organizations can host virtual fitness competitions for engaging the potential audience, increase revenue and expand their geographical footprints.
There is a growing consensus among fitness executives that virtual training is emerging as a permanent feature rather than a passing trend. Furthermore, new techniques of fitness training, such as home workouts and live video classes, are becoming more popular. According to a survey published in ACSMs Health & Fitness Journal, online training was ranked as the #1 fitness trend in 2021, up from #26 in 2020, mainly due to the COVID-19 pandemic. According to Health Club Industry Data & Consumer Trends report 2021, nearly 38% of the consumers in the U.S. started using online workout services during COVID and plan to continue using them in the future.
During the pandemic, many gyms were closed and social distancing guidelines were imposed. This drove consumers to adopt virtual fitness solutions from gyms and yoga centers. As per a survey conducted by ClubIntel in 2020, around 54% of 2,000 surveyed individuals either stopped their gym memberships or canceled them entirely. Furthermore, 72% of the health club owners started offering livestream group and on-demand workouts, higher than 25% in 2019 to cope with the declining gym memberships.
Key players also employed certain successful techniques, such as introducing informative workout sessions, strategic collaborations, and free subscriptions during the pandemic. For instance, in March 2020, Peloton, an American manufacturer of physical exercise equipment, and media platform extended its subscription-free trial duration from 30 to 90 days. This was to aid and support consumers in maintaining physical and mental well-being during the COVID-19 pandemic.
Virtual fitness Market Segmentations:
| By Session Type | By Streaming Type | By Device Type |
|
Group Solo |
Live On-demand |
Smart TV Smartphones Laptops & Desktops Tablets |
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Session Type Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Virtual Fitness Market
5.1. COVID-19 Landscape: Virtual Fitness Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Virtual Fitness Market, By Session Type
8.1. Virtual Fitness Market, by Session Type, 2023-2032
8.1.1 Group
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Solo
8.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Virtual Fitness Market, By Streaming Type
9.1. Virtual Fitness Market, by Streaming Type, 2023-2032
9.1.1. Live
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. On-demand
9.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Virtual Fitness Market, By Device Type
10.1. Virtual Fitness Market, by Device Type, 2023-2032
10.1.1. Smart TV
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Smartphones
10.1.2.1. Market Revenue and Forecast (2020-2032)
10.1.3. Laptops & Desktops
10.1.3.1. Market Revenue and Forecast (2020-2032)
10.1.4. Tablets
10.1.4.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Virtual Fitness Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Session Type (2020-2032)
11.1.2. Market Revenue and Forecast, by Streaming Type (2020-2032)
11.1.3. Market Revenue and Forecast, by Device Type (2020-2032)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Session Type (2020-2032)
11.1.4.2. Market Revenue and Forecast, by Streaming Type (2020-2032)
11.1.4.3. Market Revenue and Forecast, by Device Type (2020-2032)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Session Type (2020-2032)
11.1.5.2. Market Revenue and Forecast, by Streaming Type (2020-2032)
11.1.5.3. Market Revenue and Forecast, by Device Type (2020-2032)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Session Type (2020-2032)
11.2.2. Market Revenue and Forecast, by Streaming Type (2020-2032)
11.2.3. Market Revenue and Forecast, by Device Type (2020-2032)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Session Type (2020-2032)
11.2.4.2. Market Revenue and Forecast, by Streaming Type (2020-2032)
11.2.4.3. Market Revenue and Forecast, by Device Type (2020-2032)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Session Type (2020-2032)
11.2.5.2. Market Revenue and Forecast, by Streaming Type (2020-2032)
11.2.5.3. Market Revenue and Forecast, by Device Type (2020-2032)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Session Type (2020-2032)
11.2.6.2. Market Revenue and Forecast, by Streaming Type (2020-2032)
11.2.6.3. Market Revenue and Forecast, by Device Type (2020-2032)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Session Type (2020-2032)
11.2.7.2. Market Revenue and Forecast, by Streaming Type (2020-2032)
11.2.7.3. Market Revenue and Forecast, by Device Type (2020-2032)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Session Type (2020-2032)
11.3.2. Market Revenue and Forecast, by Streaming Type (2020-2032)
11.3.3. Market Revenue and Forecast, by Device Type (2020-2032)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Session Type (2020-2032)
11.3.4.2. Market Revenue and Forecast, by Streaming Type (2020-2032)
11.3.4.3. Market Revenue and Forecast, by Device Type (2020-2032)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Session Type (2020-2032)
11.3.5.2. Market Revenue and Forecast, by Streaming Type (2020-2032)
11.3.5.3. Market Revenue and Forecast, by Device Type (2020-2032)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Session Type (2020-2032)
11.3.6.2. Market Revenue and Forecast, by Streaming Type (2020-2032)
11.3.6.3. Market Revenue and Forecast, by Device Type (2020-2032)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Session Type (2020-2032)
11.3.7.2. Market Revenue and Forecast, by Streaming Type (2020-2032)
11.3.7.3. Market Revenue and Forecast, by Device Type (2020-2032)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Session Type (2020-2032)
11.4.2. Market Revenue and Forecast, by Streaming Type (2020-2032)
11.4.3. Market Revenue and Forecast, by Device Type (2020-2032)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Session Type (2020-2032)
11.4.4.2. Market Revenue and Forecast, by Streaming Type (2020-2032)
11.4.4.3. Market Revenue and Forecast, by Device Type (2020-2032)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Session Type (2020-2032)
11.4.5.2. Market Revenue and Forecast, by Streaming Type (2020-2032)
11.4.5.3. Market Revenue and Forecast, by Device Type (2020-2032)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Session Type (2020-2032)
11.4.6.2. Market Revenue and Forecast, by Streaming Type (2020-2032)
11.4.6.3. Market Revenue and Forecast, by Device Type (2020-2032)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Session Type (2020-2032)
11.4.7.2. Market Revenue and Forecast, by Streaming Type (2020-2032)
11.4.7.3. Market Revenue and Forecast, by Device Type (2020-2032)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Session Type (2020-2032)
11.5.2. Market Revenue and Forecast, by Streaming Type (2020-2032)
11.5.3. Market Revenue and Forecast, by Device Type (2020-2032)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Session Type (2020-2032)
11.5.4.2. Market Revenue and Forecast, by Streaming Type (2020-2032)
11.5.4.3. Market Revenue and Forecast, by Device Type (2020-2032)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Session Type (2020-2032)
11.5.5.2. Market Revenue and Forecast, by Streaming Type (2020-2032)
11.5.5.3. Market Revenue and Forecast, by Device Type (2020-2032)
Chapter 12. Company Profiles
12.1. MINDBODY, Inc.
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. ClassPass
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Fitness On Demand
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Unscreen
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Navigate Wellbeing Solutions
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Sworkit (Nexercise, Inc)
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Les Mills International Ltd.
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. VIXY BV
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Wellbeats.
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Move Technologies Group Ltd
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers