The global online fitness market is expected to witness a CAGR of 33.2% during the forecast period. Online fitness is the combination of workouts and technology. Factors attributing to the growth of the online fitness market include snowflaking demand for advanced fitness sessions to accomplish physical fitness, increasing interest of health insurance providers in online fitness services to decrease health insurance costs, mounting demand for AR and VR based fitness, growing demand for healthy food, and offers ease and convenience to individuals as per their schedule and needs.

Online fitness platforms offer a wide range of fitness formats such as high energy sessions such as body pump, spin, and aerobics and core strengthening exercises like yoga and Pilates. Nevertheless, the development of an exergaming platform i.e., a blend of workout and gaming will provide opportunities for growth in the online fitness market. For instance, Zwift Inc. teamed up with Absa Cape Epic., the most televised mountain bike race, to strengthen the indoor training portfolio for gravel riders and mountain bikers. These strategic ties and technological innovation will create huge market opportunities in the future.

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The COVID-19 outbreak has imbalanced the lives of people and has temporarily shut down fitness centers like gyms and other fitness clubs, resulting in robust adoption of online/virtual fitness solutions as people have started workout from their homes, thereby rising in the growth of the online fitness market. For example, US fitness chain Blink Fitness is running a virtual training session on Facebook to get members involved in physical activity during a pandemic.

Based upon the Streaming type, the online fitness market is subdivided into live and on-demand. Live streaming fitness session is anticipated to have a high CAGR i.e. approx. 35% during the forecast period owing to the rising demand for customized fitness classes among consumers, growing adoption of smart devices, and rising internet penetration.

North America dominates the online fitness market owing to the increasing penetration of smart devices, internet penetration that allows them to pay for subscriptions, increasing disposable income, awareness about healthy lifestyle, and increasing prominence and affordability of smart wearables will fuel the growth of online fitness in the region.

Some of the major players in the global Online Fitness market include Fitbit LLC, ClassPass Inc., Les Mills, FitnessOnDemand, Navigate Wellbeing Solutions, CFit Holding Corp., MoveGB, Sworkit, Charter Fitness Inc., and GoodLife.

Source VynZ Research