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Virtual fitness, also known as online/digital fitness, is a next-generation revolutionary fitness entity that evolved drastically after the COVID-19 pandemic hit the world. It is a modern fitness service for fitness enthusiasts and professionals from instructors or trainers online rather than visiting the fitness facility. This virtual fitness can be available to the customers through training videos or live streaming by using video conferencing platforms or mobile apps as well as live streaming videos by fitness trainers.
According to the survey conducted by PwC on the health and fitness sector in 2022, consumers performed fitness activities before, during, and after the pandemic for outdoor fitness 25% (before the pandemic), 24% (during the pandemic), and 27% (after the pandemic), and for home fitness; 22% (before the pandemic), 36% (during the pandemic), and 23% (after the pandemic).
The market is growing due to the increasing concentration of healthy lifestyles, flexible workout sessions, diet planning, and maintaining mental health. Further, the health-conscious population is getting serious about virtual fitness and training sessions instead of just a passing trend of the pandemic. For instance,
This shows that the health and fitness industry is settling back to the previous stage of the pre-pandemic.
Generative AI (Artificial Intelligence) for virtual fitness is enhancing the experience of customers by providing nutrition guidance and tailored workout plans. Various industries are experiencing a paradigm shift as technology is constantly evolving, and the fitness and wellbeing industry is one of them. Three significant ways are creating an impact on the fitness industry: using generative AI, automating complex business processes, reducing operating costs, enhancing member experience, and hyper-personalization.
Further, generative AI is forcing the population to engage in virtual fitness with the help of digital advantages, such as voice assistants, space utilization and optimization, equipment maintenance, dynamic pricing strategies, user motivation and engagement, nutrition and diet planning, virtual trainers and AI coaching, chatbots, and customized fitness experiences for customers. This indicates potential growth opportunities for virtual fitness providers in the coming years.
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The report covers the following key insights:
Virtual Fitness is used in various device type, including smartphones, smart TV, laptops/desktops, and tablets. Out of these, the smartphones segment dominated among others and is expected to grow at a faster pace during the forecast period. The primary reason is the burgeoning smartphone adoption rate, especially among the working population and youth, growing app downloading and usage, such as Strava and Google Fit, and integrating such apps with fitness trackers/bands, such as Garmin and Fitbit.
For instance,
Furthermore, the laptops/desktops segment is anticipated to grow after smartphones owing to the rising popularity of indoor training and fitness sessions, longer battery life, high-speed support, and clear display compared to smartphones.
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The global virtual fitness market is distributed into five regions: North America, South America, Europe, the Middle East & Africa, and Asia Pacific. As of 2023, a significant share of the market was held by North America as rising demand for cutting-edge fitness platforms due to obesity, CVDs (cardiovascular diseases), and diabetes becoming common in the working population. Asia Pacific is anticipated to experience the highest growth during the forecast period. The surging adoption rate of virtual fitness solutions and services improves productivity and is expected to contribute to this growth. Moreover, the European region positively impacts the wellness industry due to the increasing public awareness and large organizational offices, which result in the growing importance of a healthy lifestyle.
The distribution of the global virtual fitness market by region of origin is as follows:
The key players in this market include MINDBODY, Inc., ClassPass, Fitness On Demand, Uscreen, Navigate Wellbeing Solutions, Sworkit (Nexercise, Inc.), Les Mills International Ltd., VIXY BV, Wellbeats, Move Technologies Group Ltd, and Wexer.
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