A rise in health consciousness among people globally has magnified online fitness market share, due to increasing cases of serious illnesses like cardiovascular diseases, liver and kidney illnesses, cancer, and diabetes. An increase in disposable income among people over the years has supported the demand for consumer electronics such as smartphones, tablets, laptops, and smart TVs, across the globe.
These devices are used to stream the videos online due to their convenience and easy portability. Fitness applications can be downloaded and viewed as and when required. Leading consumer electronics players such as Sony Corporation and Samsung have developed advanced quality smart televisions owing to the surge in demand for multi-functional electronics. These televisions allow the people to access data from the internet in HD thus supporting online fitness classes.
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The growing popularity of advanced devices like smartphones and tablets, and the presence of enhanced wireless infrastructure enabling high-definition online video streaming on smart TVs will maintain a sustainable market environment for the online fitness market. Personal laptops are also portable and easy to use gadgets that are extensively used to stream online fitness videos. These devices render the facility to download software applications as per user convenience.
Additionally, the introduction of high-quality smart TVs by prominent companies such as Sony and Samsung will positively influence the demand for HD videos of virtual fitness classes for the superior audio-visual experience. To support people during this COVID-19 pandemic, Fitbit, a wearable giant has announced that it will be offering a 90-day free trial of its Fitbit Premium and Fitbit Coach services, indicating a wider scope for such brands.
The growing trend of establishing gyms and fitness programs in corporate premises will propel virtual fitness development. To enhance employees’ work productivity and ensure their health and wellbeing major companies like Intel Corporation, Microsoft Corporation, and Google LLC have highly equipped integrated fitness centers on their premises.
Collaborations of several health clubs with corporate houses to establishing a gymnasium on the premises will help in maintaining a healthy working environment. For example, in a bid to help organizations render in-person and online fitness classes to their employees, a health club franchise Retro Fitness is offering corporate membership plans, with around 120 locations across the U.S.
Cardiovascular equipment plays an important role in reducing extra kilos from the body and maintaining good heart health and lowering blood pressure. These cardio machines contain an integrated output screen that displays important statics regarding the workout. The escalating awareness of physical fitness, health consciousness, and boosting immunity to combat deadly viruses like COVID-19 will positively influence the adoption of cardio exercises and workout session daily among consumers, also needing online instructions.
Amid the COVID-19 lockdown, online fitness platforms are experiencing a rising number of new users as well as prolonged duration time spent while working out through their platforms. For instance, a health and fitness platform, HealthifyMe, has observed a surge of about 20% in the number of sessions users participate per week.
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In terms of regional expanse, European users have emerged as key consumers for virtual services, with growing popularity of on-demand sessions for cardio workouts like exercise bikes, treadmills, and climbers. As per the European Heart Network, cardiovascular diseases are responsible for nearly 45% of the total deaths in the region. Death rates due to Ischemic Heart Disease and stroke are considerably high in the Central and Eastern parts of Europe.
Some of the leading online fitness market players include Viva Leisure, Fitness First, Peerfit Inc., FitnessOnDemand, MoveGB, and Viva Leisure, among various others.
Major Key Points from Table of Content:
Chapter 5. Online Fitness Market, By Streaming Type
5.1. Key trends, by streaming type
5.2.1. Online fitness market estimates and forecast, 2016 – 2026
5.3.1. Market estimates and forecast, 2016 – 2026
Chapter 6. Online Fitness Market, By Session Type
6.1. Key trends, by session type
6.2.1. Online fitness market estimates and forecast, 2016 – 2026
6.3.1. Market estimates and forecast, 2016 – 2026
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