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Online Fitness Market Size
- Report ID: GMI4825
- Published Date: Sep 2020
- Report Format: PDF
Online Fitness Market Size
Online Fitness Market size surpassed USD 5 billion in 2019 and is poised to grow at a CAGR of over 30% from 2020 to 2026. The market growth can be attributed to the proliferation of seamless internet services globally, facilitating uninterrupted streaming of videos online.
The availability of robust internet connectivity across developing and developed economies has enabled fast video streaming. According to Dailywireless.org statistics, as of January 2019, there were around 4.4 billion active internet users, corresponding to 57% of the global population. This has led to increased market adoption of online fitness apps and platforms among fitness enthusiasts for a comfortable workout experience at home. Large number of fitness studios allow users to participate in real-time, download, or stream on-demand content on virtual platforms.
The rise in digitalization along with the trend of connected fitness equipment that enables users to track health parameters, such as pulse rate and calories, propelling the online fitness market growth. Several companies are introducing online classes that allow users to integrate with their smart devices to enhance fitness experience. For instance, in September 2020, Apple, Inc. unveiled Fitness Plus, a subscription service for online fitness classes, that integrates with iPads, iPhones, Apple TV, and Apple Watch. It allows users to monitor a variety of metrics regarding activities such as running, cycling, swimming, or rowing on their Apple devices. The availability of on-demand and live workout classes with a range of connected equipment enables users to undertake classes on built-in screens of their equipment.
| Report Attribute | Details |
|---|---|
| Base Year: | 2019 |
| Online Fitness Market Size in 2019: | 5 Billion (USD) |
| Forecast Period: | 2020 to 2026 |
| Forecast Period 2020 to 2026 CAGR: | 30% |
| 2026 Value Projection: | 30 Billion (USD) |
| Historical Data for: | 2016 to 2019 |
| No. of Pages: | 280 |
| Tables, Charts & Figures: | 317 |
| Segments covered: | Streaming type, Session type, Device type, End–use and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The coronavirus (COVID-19) pandemic will boost the online fitness market expansion as fitness enthusiasts prefer online classes to ensure social distancing and prevent the spread of virus. The temporary closure of fitness clubs and gyms due to lockdowns imposed in several countries globally has encouraged businesses to offer live-streaming workout classes. For instance, Blink Fitness, a fitness chain in the U.S., is hosting virtual workout sessions on Facebook to keep its members engaged in physical activities during the pandemic.
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Online Fitness Market Scope
