In a recently published report, Online/Virtual Fitness Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Online/Virtual Fitness Market products.
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Rising the vigorous internet connectivity crosswise the developed as well as developing countries growing the virtual market. Virtual/ online fitness trends are a revolution of next generation. Online sessions those people who cannot attend fitness sessions physically. Furthermore, working people can attend their sessions anytime as it provides time flexibility. Additionally, Health wearable devices and Fitness sensor smart phones enable various health application which help user’s health and lifestyle Online/Virtual Fitness Market growth is driven by Rising awareness about health, growing adoption of digitalization and Rising awareness of AR and VR based fitness program. Rising digitalization along with the connected fitness equipment such as health parameter, Time calculating devices. For instance, In December 2020, Apple Launched Fitness+ this Apple Fitness+ Brings Studio style workout to apple TV, iPhone, iPad. However, Lack of awareness about the multiple online services, High Cost of Content creation and Interruption in the flow of the class due to tech glitches are hindering the growth of market over the forecasting period 2020-2027.
The regional analysis of the Online/Virtual Fitness Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. In which North America is dominating the market as focusing on valuable medicine and personalized care. In addition, Numerous Healthcare organizations in this region. However, Asia Pacific is highest growing market in the forecasting year due to pro fitness government policies, increasing Online/Virtual Market and changing lifestyle.
Key Players in Global Online/Virtual Fitness Market
Les Mills International Ltd.
Navigate Wellbeing Solutions
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Streaming Type:
By Session Type:
By Device Type:
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By Revenue Model:
By End User:
Rest of LA
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of Global Online/Virtual Fitness Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
About Kenneth Research
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