Online Fitness Market Will Grow at a Healthy CAGR by 2026

Online Fitness Market Will Grow at a Healthy CAGR by 2026

A detailed analysis of the online fitness market is entailed in this research report. The driving forces responsible for propelling the growth graph of this vertical in addition to the regional and competitive trends are mentioned in the study. A comprehensive document comprising details about vital parameters such as the industry ecosystem analysis, market segmentation, and the vendor matrix, the market report also contains information on the pivotal industry insights for core players to look out for.

A rise in health consciousness among people globally has magnified virtual/online fitness market share, due to increasing cases of serious illnesses like cardiovascular diseases, liver and kidney illnesses, cancer, and diabetes. An increase in disposable income among people over the years has supported the demand for consumer electronics such as smartphones, tablets, laptops, and smart TVs, across the globe.

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These devices are used to stream the videos online due to their convenience and easy portability. Fitness applications can be downloaded and viewed as and when required. Leading consumer electronics players such as Sony Corporation and Samsung have developed advanced quality smart televisions owing to the surge in demand for multi-functional electronics. These televisions allow the people to access data from the internet in HD thus supporting online fitness classes.

According to a study, global online fitness market size could reach USD 30 million in total annual remuneration by 2026. Many leading health clubs join hands with companies to allow the integration of gyms in the work environment and boost employee productivity. For example, Retro Fitness- a prominent American health club franchise operating in over 120 locations across the U.S. has offered corporate membership plans to help organizations offer in-person as well as virtual training classes to their employees.

With the temporary closure of gyms and fitness clubs due to the coronavirus pandemic, online fitness market has witnessed a robust increase. With people staying indoors and the growing need to stay fit to enhance immunity, online fitness classes have witnessed notable gains.

Many leading fitness chains, with an aim to continue business and to serve their clients, have shifted to hosting online classes regularly. Fiscal benefits like discounts and promotional campaigns offered by these chains have supported the dependence on virtual fitness classes for people globally.

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In terms of regional expanse, European users have emerged as key consumers for virtual services, with growing popularity of on-demand sessions for cardio workouts like exercise bikes, treadmills, and climbers. As per the European Heart Network, cardiovascular diseases are responsible for nearly 45% of the total deaths in the region. Death rates due to ischemic heart disease and stroke are considerably high in the Central and Eastern parts of Europe.

Some of the leading online fitness market players include Viva Leisure, Fitness First, Peerfit Inc., FitnessOnDemand, MoveGB, and Viva Leisure, among various others.

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