About Virtual Fitness
Virtual fitness involves the use of technology that offers fitness services such as online sessions, training, instructions, nutrition, and recipes. In recent times, physical fitness has become important to live healthy as the risk of chronic diseases has been increasing due to the change in eating habits and modern lifestyle. However, the increasing online platforms by the individuals for the exercise as the gyms and fitness clubs are shut due to the pandemic will boost the market worldwide.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Virtual Fitness market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
HealthifyMe (India), Fittr (India), Peloton (United States), Classpass (United States), Crush Fitness (United States), Daily Burn (United States), CorePower Yoga, LLC (United States) and Aaptiv (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Wellbeats (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Virtual Fitness market by and Region.
On the basis of geography, the market of Virtual Fitness has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Service, the sub-segment i.e. Fitness Classes will boost the Virtual Fitness market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Device Type, the sub-segment i.e. Smart TVs will boost the Virtual Fitness market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-user, the sub-segment i.e. Corporate will boost the Virtual Fitness market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Class Type, the sub-segment i.e. Solo will boost the Virtual Fitness market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Workout Type, the sub-segment i.e. Audio will boost the Virtual Fitness market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Trend of Workout Without Gym and Mindful Exercising and Fitness Challenges to Motivate Users
Market Growth Drivers:
Increasing Awareness about Exercise and Gyming to Maintain Weight and Fitness and Demand for Advanced Training Especially in Youth Due to the Growing Trend to Make Muscular Body and Physical Fitness
Challenges:
Lack of Motivation an Individual Can Get Distracted Easily
Restraints:
Lack of Proper Internet Connectivity in Some Areas can Create Hurdles for the Streaming and Absence of Instructor for Correcting Form or Technique
Opportunities:
Growing Adoption of Smart TVs and Increasing Popularity of Virtual Fitness among the Old Age Group
Market Leaders and their expansionary development strategies
In January 2021, Cure.fit acquired digital fitness company Onyx with the aim of to boost its digital offering across the globe. Onyx is a US-based leader in body tracking technology and personalisation of workout feedback that provides highly accurate rep counts, form correction, and detailed performance tracking.
In September 2020, Squatz announced its official launch that allows fitness consumers and experts to connect, discover and co-create in-person and virtual training sessions. The platform will be available to users on iOS, Android, and desktop, and users can also invite their friends, find new ones, and connect with a community of expert trainers to plan, interact, and train together with live fitness sessions.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Virtual Fitness Service Providers, Virtual Fitness Software and Solution Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.