The Global Online/Virtual Fitness Market Expected To Reach $250.7 Billion By 2032

FinancialNewsMedia.com News Commentary

PALM BEACH, Fla., June 12, 2023 /PRNewswire/ -- The global online/virtual fitness market has shown substantial growth over the past few years and is expected to continue for years to come. The COVID-19 outbreak had a positive impact on the growth of the online or virtual fitness market due to the imposition of lockdowns led to the closure of many fitness centers and gyms. As a result, in-person workouts were replaced by digital at-home exercises. In addition, owing to the increasing demand for online classes, many gyms and health club providers adopted online services. In the coming years, health club providers will be required to adopt a hybrid or multichannel approach which will include both in-person and remote exercise sessions for the customers.  Online or virtual workout is next generation fitness revolution. It is a convenience-based fitness/wellness service to the clients to access a trainer or instructor online instead of visiting the fitness facility.  Usually, the training videos that are provided on the online dashboard or fitness app are managed by the instructor. The sensors in smartphones and wearable allow various virtual fitness applications such as sleep monitoring and running rhythm tracking to improve users' life styles and health.  The various forms of online or virtual fitness offerings enable accessibility of health & wellness to every individual from shift workers to the housewives, and any person who may not keen or able to visit the gym.   A report from Allied Market Research projected that the global online/virtual fitness market was valued at $14.9 billion in 2022, and is projected to reach $250.7 billion by 2032, growing at a CAGR of 32.7% from 2023 to 2032.  Active Companies from around the markets with current developments this week include:  Interactive Strength Inc. d/b/a FORME (NASDAQ: TRNR), SIGNA Sports United N.V. (NYSE: SSU), Xponential Fitness (NYSE: XPOF), Lifetime Brands, Inc. (NASDAQ: LCUT), Nautilus, Inc. (NYSE: NLS).