Global Virtual Fitness App Market – Industry Trends & Forecast Report 2027 - PDF document

Global Virtual Fitness App Market – Industry Trends & Forecast Report 2027 Global Virtual Fitness App Market – Industry Trends & Forecast Report 2027 S ummary Global Virtual Fitness App market Size, by Streaming Type (Live, and On - demand), Device Type (Smart TV, Smart phones, Laptops Desktops & Tablets, and Others), Session Type (Group and Solo), Revenue Model (Subscripti on, Advertisement, and Hybrid) and End User (Professional Gyms, Sports Institutes, Defense Institutes, Educational Institutions, Corporate Institutions, Individuals, and Others), By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa), Trend Analysis, Market Competition Scenario & Outlook, 2021 - 2027 A study recently conducted by the strategi c consulting and market research firm , BlueWeave Consulting , revealed that the global virtual fitness app marke t wort h USD 3.43 million in 2020 , and is further projected to reach USD 18.91 million by 2027, at a CAGR of 21.10% during the forecast period 2021 - 2027. The market is primarily supported by factors such as robust internet connectivity across developing and developed economies, which has fa cilitated fast video streaming. These factors are positively impacting the online fitness market revenue. In 2020, India had nearly 700 million internet users across the country. This figure was projected to grow to over 974 million users by 2025 further p ropelling the market growth . View report Press release Sample report Global Virtual Fitness App Market – Industry Trends & Forecast Report 2027 Global Virtual Fitness App Market – Industry Trends & Forecast Report 2027 The global virtual fitness app market is estimated to grow at a CAGR of 22.3% during the forecast period 2021 - 2027. As per the analysis, the global fi tness app market was valued at USD 3.43 billion in 2020 and is anticipated to reach USD 18.91 billion by 2027. Global virtual fitness app market mostly deals in wellness applications such as smartphones, smart watches, tablets, and others. These applicatio ns track calories consumed, client action, heart rate, pulse rate as well as the blood pressure of the user in response to the actions performed by them. The growing number of wellness - conscious people, the rising demand for customized fitness sessions, a nd the increasing demand for AR/VR - enabled fitness apps are a few factors driving the growth of the global virtual fitness app market. Global Virtual Fitness App Overview: Virtual workouts or connected workouts involve th e use of technology to help you work out in the comfort of your home. It provides individuals with the feel of being present in a gym with an instructor. Lack of time or interest, loss of motivation, or even fear often prevent individuals from working out regularly. Guided virtual exercise using technology can now help individuals break those common barriers and indulge in exercising more efficiently. Virtual fitness routines are specifically beneficial for working employees struggling with time management as they can stream the classes flexibly during any time of the day. A large number of sportsmen and athletes prefer solo virtual workout sessions as personalized training and perfection in exercise routines is important for them. Moreover, individual work out sessions also allow sportsmen to communicate their day - to - day progress to their physical trainers. What’s more, it also enables them to share the fitness parameters on their digitally - connected fitness equipment such as fitness trackers, bikes, treadmi lls, etc., with their trainers virtually. Global Virtual Fitness App Forecast and Trend The Major Growth Drivers Increasing Demand for Wearable Devices The global virtual fitness app market is likely to witness substantial growth owing to multiple factors, such as – · Increasing demand for wearable devices · Increased awareness about healthy lifestyles · High disposable income · Obesity - related health conditions; The overall number of connected wearable devices worldwide increased from 325 billion in 2016 to 722 billion in 2019. The number is further expected to reach over one billion by 2022, thus propelling the market grow th. Moreover, the availability of numerous growth opportunities due to easy internet access, smartphones, and increased demand in developing economies will further propel the market growth. Global Virtual Fitness App Market – Industry Trends & Forecast Report 2027 Fitness App Equipped with Sensors During the first half of 2020, f itness apps grew by almost 50 percent. Over 37000 apps are currently accessible on iOS and Android devices. Virtual fitness apps can be easily installed on sensor - equipped mobile devices to monitor user activity 24/7. Sensors in phone and wearable devices accumulate data and offer recommendations regarding training programs for virtual workouts, proper nutrition, weight loss, and a healthy lifestyle. Additionally, the penetration of smartphones in the rural, as well as urban areas, are helping people to eng age more in virtual fitness apps, thereby, driving the global fitness app market. Restraints High Cost of Content Creation The high cost of content creation for solo sessions, live sessions, and on - demand sessions has hindered the market growth. The high c ost of hiring trainers, fitness experts, gym trainers, yoga instructors, and others, in addition to the charges per hour of shooting time, camera team, video editing, has cumulatively increased the price of content creation. These factors are restraining t he growth of the global fitness app market. Impact of COVID - 19 in the Industry As soon as the World Health Organization (WHO) declared the novel coronavirus (COVID - 19) as a pandemic, governments across the world had enforced nationwide lockdowns. This step has significantly impacted the manufacturing supply chains, trade, and related services. Because most of these industries have been impacted due to the lockdown, it is expected that the demand would also get impacted going forward. The market has seen an abrupt ascent in 2020 as more people worldwide began working out from their h omes during the lockdown time frame. Such advancement can be attributed to the closure of gyms and wellness clubs across the world to prevent the transmission of COVID - 19. Daily Burn, Inc., a leading health and virtual fitness company, has witnessed aroun d 268% year - over - year increase in membership signups, during the COVID - 19 pandemic. In September 2020, the U.S. based consumer electronics and fitness company, Fitbit, declared a free trial of its innovative home workout service -- ‘Fitbit Premium’, in order to motivate people to stay healthy during the COVID - 19 crisis. Such commendable initiatives prove that the global demand for virtual fitness platforms has augmented during COVID - 19 pandemic. Global Virtual Fitness App Market: By Streaming Type Based on streaming type, the virtual fitness app market is segmented into (i) live streaming and (ii) on - demand streaming. Amidst the segmentation, the on - demand streaming type segment captured the major virtual fitness app market share in 2020 and is expected to r etain its share during the projection period 2021 - 2027. On - demand virtual fitness is popular among clients as it offers access to a variety of workout classes at their suitability. However, the live - streaming segment is Global Virtual Fitness App Market – Industry Trends & Forecast Report 2027 anticipated to register the highest CAGR during the forecast period, due to its preference amid routine - oriented exercisers and fitness - freaks who want reliable fitness - program layout and schedule in a live session. Global Virtual Fitness App Market: By Session Type Based on session type, th e global virtual app market is segmented into (i) solo and (ii) group sessions. Over the estimated timeframe, the solo virtual fitness app market would witness a significant growth rate in the forecast period. Solo virtual fitness app is best for pursuing personalized activities that help meet individual health objectives. Moreover, solo virtual sessions also improve the client - trainer relationship. Additionally, solo exercise routines offer the advantage of attending live or pre - recorded sessions according to individual convenience and timetable. For people struggling with time management, these routines are especially useful as they can flexibly stream the fitness classes at any time of the day. These are a few factors fueling the overall market growth. Global Virtual Fitness App Market: By Device Type Based on device type, the global virtual fitness app market is segmented into smart TV, smartphones, laptops desktops & tablets, and others. The smartphone sub - segment for the virtual fitness market holds t he largest share in the market and is likely to dominate in the forecast period. This growth is mainly due to the increasing popularity of the pioneering fitness apps such as Apple HealthKit, Samsung Health, Google Fit, and LG Health. In addition to this, increasing smartphone penetration in developing countries like India may also create a positive opportunity for sub - segment growth. The number of smartphone users in India is estimated to reach over 760 billion in 2021 , with the number of smartphone users worldwide forecasted to exceed 3.8 billion users in the same year. The massive adoption of smartphones will increase the usage of mobile apps, which may also create lucrative market opportunities for the virtual fitness platform in the coming years. Global Virtual Fitness App Market: By Revenue Model Based on the revenue model, the virtual fitness app market is bifurcated into (i) subscription, (ii) advertisement, and (iii) hybrid revenue model. The subscription revenue model segment recorded maximum growth in the virtual fitness app market share in 2020 and is expected to maintain its dominance in the coming years due to the growing popularity of subscription - based virtual fitness training programs among fitness - conscious customers. The popularity of subscription - based virtual fitness training programs is on the rise due to its cost - efficiency, such as signing up with a coach in - person. Subscription - based fitness sessions also offer a wide range of plans and discounts which has been attracting more cu stomers. Global Virtual Fitness App Market: By End User Based on end - user, the market is categorized into defense institutes, educational institutions, professional gyms, sports institutes, corporate institutions, Global Virtual Fitness App Market – Industry Trends & Forecast Report 2027 individuals, among others. Amidst the segm entation, virtual fitness app market growth is majorly supported by the individual end - user segment. Growing health issues due to sedentary lifestyles are contributing to the growth in the size of the virtual fitness market. Moreover, ever - increasing rates of obesity and associated disorders, including Type 2 diabetes, heart attack. etc., enable individuals to take individual fitness lessons to cope with specific health problems. Global Virtual Fitness App Market: Regional insights Based on regional insig hts, the global virtual fitness app market is categorized into North America, Europe, the Asia - Pacific, Latin America, and the Middle East & Africa. North America dominates the virtual fitness app market due to the increasing number of health and wellness organizations as well as the ever - increasing adoption of Augmented Reality and Virtual Reality (AR & VR) technology for virtual workouts across this region. North America is expected to maintain its market share during the projected period. Followed by Nor th America, the Asia - Pacific region is expected to register the highest growth rate due to the widespread use of mobile devices and pro - fitness government policies enabling the exponential rise of adoption of virtual health solutions during the forthcoming period 2021 - 2027.India witnessed the highest increase in fitness app downloads in 2020. The usage of fitness apps in the country went up by by 156%, translating to 58 billion new active users. Since there is increased awareness related to fitness, health y eating habits, weight loss; all this is promoting the global fitness app market by an increase in the demand for related product . Competitive landscape Key players for virtual fitness app market are:Dom and TomTom, Grandapps, MyFitnessPal Inc., Will owTree, Inc., Appster, Under Armour, Fitbit, Azumio, ASICS, Motorola Mobility LLC, Runtastic Results, Kayla Itsines Fitness, Calorie Counter & Diet Tracker and Other Prominent Players. Industry players are coming up with advanced virtual fitness app platfo rms or dedicated websites to offer sophisticated training sessions by fitness experts. Life Fitness, a fitness equipment market player, launched Life Fitness on Demand, which is a library of digital classes available on the screens of Life Fitness premium cardio products. The digital library includes on - demand classes available on treadmills, exercise bikes, ellipticals, climbers, and cross - trainers. Moreover, industry players are introducing customer - oriented online fitness training solutions to drive indu stry growth globally. Recent Development · In February 2021, Fitbit and Diabetes UK entered into a 3 - year partnership to help tackle diabetes. Together they aim to educate Brits on the significance of understanding their own health and how leading a healthier and more active lifestyle can play a cr itical role in the prevention and management of all types of diabetes, including Type - 2 diabetes. · · In March 2020, Les Mills and TVNZ entered into a partnership to offer virtual fitness sessions during the COVID - 19 lockdown, particularl y for the citizens in New Global Virtual Fitness App Market – Industry Trends & Forecast Report 2027 Zealand. These online workout sessions consist of meditation, HIIT sessions, among many others. Scope of the Report Attribute Details Years Considered Historical data – 2017 - 2019 Base Year – 2020 Forecast – 2021 – 2027 Facts Covered Revenue in USD Billion Market Coverage U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, Argentina, AUAE, South Africa, Saudi Arabia Product/Service Segmentation By product, component, applica tions and region Key Players Key players for Virtual Fitness App market are: Dom and TomTom, Grandapps, MyFitnessPal Inc., WillowTree, Inc., Appster, Under Armour, Fitbit, Azumio, ASICS, Motorola Mobility LLC, Runtastic Results, Kayla Itsines Fitness, Calorie Counter & Diet Tracker and Other Prominent Players. Scope of the Report By Type Ø Live Streaming Ø On Demand Streaming By Session Type Ø Solo Ø Group By Device Type Ø Smart TV Ø Smartphone Global Virtual Fitness App Market – Industry Trends & Forecast Report 2027 Ø Laptops Desktops & Tablets Ø Others By Revenue Model Ø Subscription Ø Advertisement End - User Industry Ø Professional Ø Gyms Ø Sports Institutes Ø Defense Institutes Ø Educational Institutes Ø Corporate Institution Ø Individuals Ø Other By Region Ø The Asia - Pacific Ø North America Ø Europe Ø Middle East & Africa Ø Latin America Global Virtual Fitness App Market – Industry Trends & Forecast Report 2027 About us Blueweave Consulting offers a one - stop solution for your market intelligence needs for any service or product. You get well - researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well informed and tim ely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk - return trade - off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavours successful. For more information, kindly visit our Website www.blueweaveconsulting.com contact us at info@blueweaveconsulting.com Global Virtual Fitness App Market – Industry Trends & Forecast Report 2027