Publishing: December 2021 | Report Code: IM12231 | Available Format: PDF
The global online fitness service market is expected to grow at a significant rate during the forecast period (2021–2030). The rising penetration of smart devices, such as smartphones, smartwatches, and smart TVs, rising internet penetration, and increasing awareness about personal fitness are some of the strongest factors driving the online fitness market.
The COVID-19 pandemic forced governments to impose lockdowns and social distancing norms, which led to the closure of fitness facilities, such as gyms, fitness clubs, and swimming pools. People were forced to stay inside, which gave online fitness businesses an opportunity to grow during the phase. Many fitness companies and fitness trainers began to provide online consultation to people in the form of live online classes and videos on demand.
The increasing usage of smart devices, such as smartphones and tablets, coupled with the growing internet penetration, is set to propel the growth of the live streaming category, based on streaming type. In live streaming, trainers guide participants personally, while addressing the personal requirements of the individual. Furthermore, in recent years, the internet penetration has increased drastically. According to the World Bank, the percentage of the population using the internet increased from 34.2% in 2012 to 51.1% in 2019. Moreover, the increasing internet speeds have allowed users to stream classes seamlessly, without any disruptions.
The online fitness market is divided into solo and group, on the basis of session type. Of these, the solo category is expected to show the higher growth rate during the forecast period. The reason is that solo sessions allow users to attend the live sessions or see videos on demand according to their convenience and schedule. Furthermore, a solo session allows the trainer to focus on a particular user and guide them according to their needs. Additionally, solo training can be customized according to individual users, which can help them reach their personalized goals faster.
The high penetration of smart devices, internet penetration, disposable income, and awareness regarding a healthy lifestyle make North Americans the largest consumers in the online fitness market. According to the World Bank, in 2018, 88.4% of the population of North America has access to the internet. Furthermore, the high popularity and affordability of smart wearables in the region further encourage people to lean toward online fitness platforms where they can connect the devices and measure their progress through smart applications.
Although outdoor fitness activities are not new, people are now venturing into different outdoor activities to stay fit. Activities such as high-intensity interval training (HIIT), body weight training, yoga, strength training, pilates, cycling, and trail running can be easily done with no or minimal equipment in local parks or the nearest green space available. Furthermore, with advancements in the smart wearable technology, people are now able to track their progress and get the full benefit of all of these activities, as now the devices have designated options for all outdoor activities.
The rapid technological advancements have made the internet more-easily affordable globally. According to Our World in Data, the number of internet users in China, India, and the U.S. is the highest in the world, at 765 million, 391 million, and 245 million respectively. With the internet, people are able to use connected fitness devices to measure health parameters such as heart rate and calories burnt, to reach their fitness goals. Furthermore, since the internet has provided a favorable platform for viewing and streaming live and recorded videos, its increasing penetration is allowing online fitness market players to reach more customers.
|Report Coverage||Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Regional and Country Breakdown; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis; Company Profiling;|
|Market Size by Segments||By Streaming Type; By Session Type; By Revenue Model; By Device Type By Region|
|Market Size of Geographies||U.S.; Canada; Germany; France; Italy; U.K.; Spain; Japan; China; India; Australia; South Korea; Brazil; Mexico; Saudi Arabia; South Africa|
|Secondary Sources and References (Partial List)||International Sports Sciences Association; Global Health & Fitness Alliance; International Health Racquet, and Sportsclub Association; Sports and Fitness Industry Association; National Coalition for Promoting Physical Activity; American Running Association; International Dance-Exercise Association; Association of Fitness Studios; National Fitness Trade Journal|
The global online fitness market is fragmented in nature, with Charter Fitness Inc., FitnessOnDemand, GoodLife, Navigate Wellbeing Solutions, Fit n Fast, Les Mills International Ltd., MoveGB, Peerfit, Inc., Sworkit, Fitness First, Viva Leisure, and Wellbeats Inc. as the major players.
In recent years, players in the online fitness industry have involved in mergers & acquisitions and the creation of platforms for content, in order to attain a significant position. For instance,
The global online fitness market report offers comprehensive market segmentation analysis along with market estimation for the period 2015-2030.
Based on Streaming Type
Based on Session Type
Based on Revenue Model
Based on Device Type
The global online fitness market is booming because of the surging penetration of the internet across the world.
The live streaming type category is predicted to register faster growth in the online fitness industry during 2021–2030.
North America dominated the online fitness industry in 2020.
Asia-Pacific (APAC) is expected to be the fastest growing region in the market for online fitness during 2021–2030.
The adoption of outdoor fitness activities is the major trend currently being witnessed in the market for online fitness.
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