Virtual Fitness Market Analysis

Virtual Fitness Market Overview

Virtual Fitness Market Size was valued at USD 16.8 billion in 2023. The Virtual Fitness market industry is projected to grow from USD 108.3 billion in 2024 to USD 189.2 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 25.9% during the forecast period (2024 - 2032). The market driver for expansion of the virtual fitness market is being driven by the trend of connected fitness equipment that allows users to track health metrics like calories and pulse rate.

Figure 1: Virtual Fitness Market Size, 2024-2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Virtual Fitness Market Trends

Rise in smart devices to propel market growth

The market for virtual fitness is anticipated to rise as smart devices become more widely used. Smart gadgets keep track of a person's daily activities by connecting to other devices or networks via various wireless protocols, including Bluetooth, Zigbee, NFC, Wi-Fi, LiFi, and 5G. Users can access online fitness content with smart gadgets. According to a poll performed in 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 organisation, it has been found that 61% of people own a smart smartphone. As a result, the market for virtual fitness is expanding due to the increasing adoption of smart devices. Thus, this factor is driving the market CAGR.

In the virtual fitness sector, the on-demand service is a major trend that is growing in popularity. Customers can access fitness sessions with their preferred training programmes, exercise difficulty levels, and trainers through on-demand virtual fitness services. For instance, the Matrix Connected solutions were introduced by Johnson Health Technology Company, a US-based provider of online fitness services, in May 2022. These solutions allow gyms and fitness owners to design digital experiences for their patrons and enable individuals to participate in on-demand exclusive training cycles.

Globally expanding exergaming solutions use is fostering a favorable environment for the virtual fitness sector. This platform utilizes interactive game options to assist users in gaining strength and self-confidence. As a result, technology leaders like Nintendo are introducing new products. For instance, Nintendo announced the "Jump Rope Challenge" in June 2020. Experts created the challenge so that those who are currently working from home might stay physically and intellectually engaged during the pandemic. The leading market players are expected to benefit greatly from such technical advancements.

With the continued rise in popularity of flexible workouts, balanced meals, and enhanced healthcare, consumer attention on leading healthier lives is growing tremendously. Because of the widespread need for cutting-edge fitness programmes around the world to promote healthy lifestyles, virtual fitness service providers can use a variety of approaches to cater to their clients' needs. For instance, My Virtual Mission, a pioneer in virtual fitness technology, launched their Race Host platform in April 2020. With the help of the Race Conduct platform, entrepreneurs, companies, and nonprofit organisations may host virtual fitness competitions to engage with target markets, earn income, and broaden their worldwide market reach. Thus, it is anticipated that this aspect will accelerate Virtual Fitness market revenue globally.

Virtual Fitness Market Segment Insights

Virtual Fitness Session Type Insights

The Virtual Fitness market segmentation has been segmented by session type into Group and Solo. The group segment dominated the market growth in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. The courses are held in studios that were constructed specifically for them, with energizing music and instructors. Additionally, the social aspect of the group session contributes to the participants' motivation and increases their likelihood of succeeding in their objectives.

Virtual Fitness Streaming Type Insights

The Virtual Fitness market segmentation has been segmented by streaming type into Live and On-Demand. The live segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. The easiest way to keep workout fun, novel, and challenging at home is to live stream it. The platform is primarily designed with fresh information and cutting-edge tools to help users maintain their regular schedules. Additionally, customers can complete the live-streamed workout regimens in the convenience of their home or office gym.

Figure 2: Virtual Fitness Market by streaming type, 2021 & 2030 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Virtual Fitness Device Type Insights

The Virtual Fitness market data has been segmented by device type into Smart TV, Smartphones, Laptops, Desktops and Tablets. The smartphones segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. The smartphone can be a great workout buddy for those who enjoy physical activity. The user can view movies to get through tedious exercise sessions and listen to music to keep them motivated.

Virtual Fitness Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific, and the Rest of the World. North America Virtual Fitness market accounted for USD 1.1 billion in 2021 and is expected to exhibit a 43.90% CAGR during the study period. The vastly expanding demand for cutting-edge fitness platforms is due to the chronic ailments like CVDs (cardiovascular diseases), obesity, and diabetes becoming more and more common, especially in the United States and Canada. According to a survey by the CDC (Centers for Disease Control and Prevention) in the United States, Type 2 diabetes is the most prevalent condition and is caused by an inactive or sedentary lifestyle and obesity in around 90% of cases that are recorded.

Further, the major countries studied in the market report are: The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: VIRTUAL FITNESS MARKET SHARE BY REGION 2021 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Asia Pacific Virtual Fitness market accounts for the fastest growing market share. Governmental regulations pertaining to fitness are facilitating the widespread implementation of virtual fitness platforms. Additionally, the wellness apps for mobile devices that provide live and on-demand streaming fitness virtual courses across the Asia-Pacific region appear to be a cost-effective alternative in developing nations like India, China, and Japan. Further, the China Virtual Fitness market held the largest market share, and the India Virtual Fitness market was the fastest-growing market in the region.

Europe Virtual Fitness market is expected to grow at a substantial CAGR from 2022 to 2030. One factor influencing the local market's growth is the increased predisposition for physical fitness. Additionally, the existence of large corporations and rising public awareness of the importance of maintaining a healthy lifestyle are propelling the market's growth. Moreover, UK Virtual Fitness market held the largest market share, and the Germany Virtual Fitness market was the fastest-growing market in this region

Virtual Fitness Key Market Players & Competitive Insights

Major market players are spending a lot on R&D to increase their product lines, which will help the Virtual Fitness industry grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, market developments and collaboration with other organizations. Competitors in the industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market industry.

One of the primary business strategies manufacturers adopt in the Virtual Fitness industry to benefit clients and expand the sector is manufacturing locally to reduce operating costs. In recent years, Virtual Fitness industry has provided medicine with some of the most significant benefits. The Virtual Fitness market major player such as Fitness On Demand, GoodLife Fitness, Reh-Fit Centre, Wexer, LES MILLS INTERNATIONAL LTD, WELLBEATS, FitnFast Health Clubs & Gyms, Conofitness and Charter Fitness Inc.

For more than 50 years, Les Mills has provided clients with workout experiences that transform lives. Its goal is to make the earth healthier. Pure Gym, Smart Fit, Team Beachbody, and Snap Fitness are some of the businesses that compete with and are similar to Les Mills International. In March 2020, Les Mills and TVNZ teamed up to offer fitness classes during the COVID-19 lockdown, exclusively for New Zealanders. Meditation and HIIT classes are two of the many exercise programmes offered.

The largest health club operator in Canada, GoodLife Fitness Centres Inc., operates more than 450 clubs across the nation under four distinct brand names. The GoodLife company was started in 1979 by David Patchell-Evans in London, Ontario. GoodLife Fitness and 24 Hour Fitness in the US established a cooperation in September 2015. With their Canada-Wide membership, GoodLife Fitness customers can now access more than 400 facilities in both the United States and Canada.

Key companies in the Virtual Fitness market includes

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  Fitness on Demand

  
  


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  GoodLife Fitness

  
  


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  Reh-Fit Centre

  
  


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  Wexer

  
  


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  LES MILLS INTERNATIONAL LTD

  
  


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  WELLBEATS

  
  


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  FitnFast Health Clubs & Gyms

  
  


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  Conofitness

  
  


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  Charter Fitness Inc

  
  

Virtual Fitness Industry Developments

October 2021: A prominent provider of platforms for mental health and overall wellbeing, LifeSpeak Inc., has acquired the online wellness business LIFT Digital Inc. With this acquisition, LifeSpeak hopes to profit on LIFT's clientele, which consists of a number of prestigious companies, and carry out its strategy to speed up expansion through acquisitions.

September 2020: Fitness Plus, a subscription service for online fitness classes that works with iPads, iPhones, Apple TV, and Apple Watch, was launched by Apple, Inc. On their Apple devices, customers can track a range of stats for activities like jogging, cycling, swimming, or rowing.

Virtual Fitness Market Segmentation

Virtual Fitness Session Type Outlook (USD Billion, 2018-2032)

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  Group

  
  


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  Solo

  
  

Virtual Fitness Streaming Type Outlook (USD Billion, 2018-2032)

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  Live

  
  


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  On-demand

  
  

Virtual Fitness Device Type Outlook (USD Billion, 2018-2032)

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  Smart TV

  
  


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  Smartphones

  
  


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  Laptops

  
  


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  Desktops

  
  


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  Tablets

  
  

Virtual Fitness Regional Outlook (USD Billion, 2018-2032)

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  North America

  
  

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  US

  
  


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  Canada

  
  

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  Europe

  
  

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  Germany

  
  


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  France

  
  


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  UK

  
  


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  Italy

  
  


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  Spain

  
  


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  Rest of Europe

  
  

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  Asia-Pacific

  
  
  
  
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    China

    
    
  
  
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    Japan

    
    
  
  
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    India

    
    
  
  
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    Australia

    
    
  
  
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    South Korea

    
    
  
  
  • 
    

    Australia

    
    
  
  
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    Rest of Asia-Pacific

    
    
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America