The Business Research Company’s Online/Virtual Fitness Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON , UK, May 2, 2022 /EINPresswire.com/ — The rising penetration of smart devices is expected to propel the online fitness market growth. Smart devices are devices that are connected to other devices or networks via different wireless protocols such as Bluetooth, Zigbee, NFC, Wi-Fi, LiFi, and 5G and help in keeping track of a person’s day-to-day activities. Smart devices enable users to access online fitness content. According to a survey conducted across Australia, Belgium, China, Greece, Ireland, Italy, KSA, Netherlands, Spain, Sweden, the U.K., and the U.S. by OMD Worldwide, a US-based media communications agency, it has been found that 61% of people own a smart device. Therefore, rising penetration of smart devices is driving the growth of the online-virtual fitness market.
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The global online/virtual fitness market size is expected to grow from $11.39 billion in 2021 to $16.15 billion in 2022 at a compound annual growth rate (CAGR) of 41.84%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The virtual fitness market share is expected to reach $79.87 billion in 2026 at a CAGR of 49.12%.
On-demand offerings is a key trend gaining popularity in the online-virtual fitness market. On-demand online fitness services enable consumers to access fitness sessions at their convenience with their choice of workout programs, exercise difficulty levels and trainers. For instance, in December 2019, a US-based manufacturer and distributor of fitness equipment, launched Life Fitness On Demand, which is a library of digital classes available on the touchscreens of Life Fitness premium cardio machines. On-demand classes are accessible on treadmills, ellipticals, climbers, cross-trainers, and exercise bikes through the digital library.
Major players covered in the global online/virtual fitness industry are ClassPass Inc., FITBIT, INC., Fitness On Demand, Les Mills International Ltd., Navigate Wellbeing Solutions, Reh-Fit Centre, Sworkit Company, Viva Leisure, Wellbeats Inc., Zwift, Peloton Interactive, Inc, Health Clubs & Gyms, Fast Lean Fitness centre and Gym, Charter Fitness Inc., and MoveGB.
TBRC’s global online fitness industry analysis report is segmented by device type into smart TV, smartphones, laptops, desktops, tablets, by end-user into professional gyms, sports institutes, defense institutes, educational institutions, corporate institutions, individuals, by revenue model into subscription, advertisement, hybrid.
Online/Virtual Fitness Global Market Report 2022 – By Device Type (Smart TV, Smartphones, Laptops, Desktops, and Tablets), By End User (Professional Gyms, Sports Institutes, Defense Institutes, Educational Institutions, Corporate Institutions, Individuals), By Revenue Model (Subscription, Advertisement, Hybrid) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a online/virtual fitness market overview, online/virtual fitness market forecast online/virtual fitness market size and online/virtual fitness market growth for the whole market, online/virtual fitness market segments, geographies, online/virtual fitness market trends, online/virtual fitness market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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