The virtual fitness market will reach $40 billion, globally, around

Virtual fitness market

Market overview
The revenue size of the global virtual fitness market is expected to exceed USD 40 billion by 2030 at a CAGR of around 40% from 2022. This can be attributed to the increase in the population group of fitness enthusiasts in due to heightened awareness during and after the COVID-19 pandemic. . Additionally, the easy availability of on-demand and live fitness programs coupled with higher penetration of smartphones, computers and high-speed internet is one of the major drivers, especially in developing countries. development. While incentives for physical workouts or fitness activities, by fitness apps such as SWEATCOIN, are also expected to boost the adoption of the virtual fitness market.

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In addition, affordable programs with virtual reality (VR) and augmented reality (AR) that can be quickly adopted by fitness enthusiasts can meet one of the greatest needs in the market. Also, meeting the need to control the growing number of overweight and obese children can be another great opportunity in the virtual fitness market.

Key Drivers of the Virtual Fitness Market

Increase in Fitness Enthusiast Population Associated with Adoption of Virtual Fitness Equipment Post-COVID-19 Pandemic

Fitness enthusiasts have had a tough time as they were unable to visit fitness centers due to the COVID-19 pandemic. For this reason, the majority of individuals prefer to continue working out at home through online fitness apps and programs on smartphones. According to the RunRepeate article, fitness app downloads grew by 46% in the first half of 2020 globally.

Additionally, the COVID-19 pandemic has also boosted the adoption of daily fitness routines. , McKinsey’s 2020 survey of 7,500 consumers in six countries (Brazil, China, Germany, Japan, UK and US) shows that consumers care deeply about well-being and their interest is growing.

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Virtual Fitness Market Opportunity

Integration of virtual reality (VR) and augmented reality (AR) in virtual fitness

Overall, many people lack physical activity. For example, according to various studies, more than 25% of American adults do not engage in any physical activity and more than 60% of American adults do not meet recommended levels of physical activity. These high numbers are due to the popular perception that fitness activities are more of a painful process than a fun one. According to an Onix article, 44% of inactive people around the world don’t exercise because it’s not fun. Repetitive tasks quickly become monotonous for people.

This challenge can be met through technological advancements using Virtual Reality (VR) and Augmented Reality (AR). According to the Virtual Reality Institute of Health and Exercise, an estimated 15% of virtual reality games burn enough calories during typical play to qualify as moderate to intense exercise. The most intense video games, including Thrill of the Fight, Knockout League, Beat Saber, Audio Trip and others, have been proven in metabolic tests at the VR Institute of Health and Exercise to burn more calories per minute than the majority specially designed games. exercise equipment at the gym.

Currently, both VR and AR technologies are being adopted by gyms and health clubs to make workouts more entertaining, effective, and safe. Thus, the integration of augmented reality and virtual reality in virtual fitness can be a huge opportunity for virtual fitness providers in the future.

Major Market Players Covered in Virtual Fitness Market are:

Some of the major competitors currently working in the global virtual fitness market are Wellbeats, Inc., Wexer, FitnessOnDemand, Flexlt Inc., Curtis Health, VFit Studio, LLC, The Active Workplace, Virtual-Fitness, Curtis Health, FitPros, LLC. ., Healthworks Fitness and other companies.

Scope and segments of the global virtual fitness market

Virtual Fitness Marketplace Offers – Workouts, Nutrition Tips, Classes and More.

By virtual fitness market shopping model – transactional model, subscription model

Based on regions, the virtual fitness market is classified into North America,
Europe, Asia-Pacific, Middle East and Africa and Latin America

Middle East and Africa (GCC countries and Egypt)
North America (United States, Mexico and Canada)
South America (Brazil, Argentina, etc.)
Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia and Australia)

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This press release was published on openPR.

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