Digital Fitness Market Size, Share, and COVID-19 Impact Analysis, by Streaming Type (Live and On-demand), by Device Type (Smart TV, Smartphones, Laptops Desktops & Tablets, and Others), Session Type (Group and Solo), by Revenue Model (Subscription, Advertisement, and Hybrid) and by End User (Professional Gyms, Sports Institutes, Defense Institutes, Educational Institutions, Corporate Institutions, Individuals, and Others) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) Analysis and Forecast 2022 -2028

Market Perspective

The global Digital Fitness Market Size was valued at USD 6,046 Mn in 2021. The market is projected to grow USD 59,231 million in 2028, at a CAGR of 33.1% driven by rising digitalization among IoT devices. Digital fitness refers to the area of modern fitness and health trends that includes different kinds of digital devices and applications.

The global digital fitness market has been gaining traction as the significance and roles of a variety of fitness gadgets have grown. Calorie counters, heart monitors, exercise trackers, and sleep monitors are just a few examples of goods that are seeing widespread commercialization. One of the main reasons for their appeal is that they can monitor a variety of chronic illnesses in a patient group.

The digital fitness industry is growing due to the development in digitalization and the trend of linked exercise equipment that allows users to check health metrics such as pulse rate and calories. Several companies are launching digital training sessions which allow consumers to connect with their handheld devices for their workouts to improve their overall fitness experience.

For example, Apple, Inc. announced Fitness Plus in September 2020, a subscription service for online fitness sessions that works with iPads, iPhones, Apple TVs, and Apple Watches. The app allows users to track a variety of parameters related to activities including running, cycling, swimming, and rowing. On-demand and live workout courses are available with a variety of linked equipment, allowing customers to participate in sessions on their equipment's built-in screens.

COVID-19 ANALYSIS

With the outbreak of the Covid-19 pandemic, the digital fitness market has witnessed sudden growth in recent years. Individuals are more likely to spend their time in their houses just to follow government measures such as shutdown, social distancing, and working from home. The shutdown of gyms and fitness clubs, which in turn raised the number of individuals spending on virtual fitness is expected to proliferate the global market. The demand to do several indoor activities such as watching television, OTT platforms, listening to music, cooking, and others among the people is driving the global market.

LATEST TREND

Rising Demand for AR & VR-Based Fitness Programs

Technology has always been an enemy of physical activities but augmented and virtual reality can be seen surging in the global fitness market. AR & VR creates the digital display in the customer’s actual environment by making it interesting. AR fitness apps have created a buzz among customers. Businesses are widely using this technology to entice customers and expand their customer base. Snapchat and Instagram filters are two of the most popular examples of AR technologies in use today.  It has been easier to maintain the motivation and zeal to stay active with the use of augmented and virtual reality training apps.

DRIVING FACTORS

Rising Health Awareness Among Customers

The increasing population also creates concern about their fitness and health, particularly among millennials and young people. Consumers have been looking for more user-friendly and simple ways to prevent weight growth and maintain physical fitness in order to avoid a variety of health complications. This is one of the key reasons for the growth of the global digital fitness industry. The introduction of technology has ushered in a digital era, with most customers choosing self-monitoring and next-generation fitness equipment to help them maintain regular workout practices.

Growing Adoption of Corporate Wellness Programs

The growing adoption of corporate wellness programs across businesses will play a vital role in the digital fitness market. Rising awareness among corporate owners towards their employee health will create the demand for wellness programs among corporates. Corporate Wellness programs address specific policies and interferences that address a variety of risk factors and health conditions, as well as plan strategies that may influence multiple organizational levels, such as individual employee behavior change, organizational culture, and worksite environment.

Workplace wellness programs are an important aspect of any firm that uses a variety of tactics and treatments to improve the health of its employees. Employees are motivated to live a healthy lifestyle, which helps businesses increase productivity and lower healthcare expenses by enhancing employee well-being. Participation in wellness programs by employees and acceptance of internal-led corporate wellness programs provides few benefits packages and perks. Corporate wellness programs are quite becoming popular owing to keeping their employees productive and decreasing turnover rate is propelling the global digital fitness market.

RESTRAINTS

Technical Glitches in Online Training could hinder the Digital Fitness Market

Interruptions in virtual fitness training could pose a major restraint in the global digital fitness market. Lack of proper interaction with the trainer/instructor lowers the market share to some extent.

SEGMENTATION

The global digital fitness market report is segmented by Streaming Type (Live and On-demand), by Device Type (Smart TV, Smartphones, Laptops Desktops & Tablets, and Others), Session Type (Group and Solo), by Revenue Model (Subscription, Advertisement, and Hybrid) and by End User (Professional Gyms, Sports Institutes, Defense Institutes, Educational Institutions, Corporate Institutions, Individuals, and Others) and Region. Based on the streaming type, the market is categorized into Live and On-demand. Based on device type, the market is categorized into Smart TV, Smartphones, Laptops Desktops & Tablets, and Others. Based on revenue model, the market is categorized into Subscription, Advertisement, and Hybrid. Based on End User, the market is categorized into Professional Gyms, Sports Institutes, Defense Institutes, Educational Institutions, Corporate Institutions, Individuals, and Others. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.

REGIONAL INSIGHTS

The global digital fitness market is categorized into North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. The North America region is expected to dominate the market share owing to the presence of major key players and growing concerns for the geriatric population. Also, the rising adoption of augmented and virtual reality (AR & VR) technology regarding online fitness for consumers in the region further contributes towards market growth.

For instance, Black Box VR offers a virtual reality gym experience by providing VR headgear. However, the Asia Pacific region is expected to witness the highest growth rate during the forecast period of the digital fitness market due to the increasing rate of overweight and obese users, and the proliferation of using smartphones and smart wearables. For instance, according to a survey in 2019 by WHO stated that out of 38.2 million people, almost more than half were found overweight or obese in the Asia Pacific region.

KEY INDUSTRY PLAYERS

• Classpass inc.
• Tonal
• Gympass US, LLC
• FitnessOnDemand
• LES MILLS INTERNATIONAL LTD
• Peerfit, inc.
• REH-FIT
• Apple Inc.
• Sworkit
• Viva Leisure
• Wellbeats
• Goodlife Fitness
• Wexer
• MoveGB
• Others

KEY INDUSTRY DEVELOPMENTS:

December 2021- Viva Leisure has expanded their demographics reach with the acquisition of eight Pilates and Yoga studios in Queensland.

January 2021- CureFit has acquired Onyx, a California-based startup that specializes in body monitoring technology and personalized training feedback.

December 2019- Life Fitness offered on-demand training sessions along with the growing collection of digital training available solely on the touchscreens of its premium cardio equipment.

SEGMENTATION

By Streaming Type

Based on the streaming type, the market is categorized into life and on-demand. The on-demand streaming type segment dominating the online/virtual fitness market share is expected to continue during the forecast period owing to most customers prefer on-demand virtual fitness because it allows them to access a variety of workout classes at their leisure. Digital fitness streaming services are carefully structuring their offers to appeal to a wide range of exercisers of all fitness levels and to offer a variety of coaching techniques, difficulty levels, and music genres. However, due to its popularity among routine-oriented exercisers and persons ready to be regular and accountable for the fitness programming format and schedule, the live streaming segment is predicted to grow at the fastest rate throughout the digital fitness market forecast period.

By Device Type

Based on the device type, the market is categorized into a smart TV, smartphones, laptops, desktops & tablets & others. The smartphone segment is dominating the market share owing to the growing population and penetration of smartphones in the world. The prominent features of smartphones are affordability, portability, and easy to use are driving the digital fitness market share.

By Session Type

Based on the session type, the market is categorized into group and solo. The solo segment is dominating the market share owing to the demand for personalized training and convenient use. Solo sessions allow users to attend live sessions or watch training on demand according to their leisure time and schedule. A solo session also allows the trainer to concentrate on a single user and guide them according to their specific needs. Furthermore, solo training can be tailored to the needs of individual users allowing to achieve specific goals more quickly.

However, group exercises inspire exercisers to improve by providing a healthy competitive environment, they lack the benefits of personalized trainer attention. It becomes difficult for the trainer to deliver individualized advice and consistent individual monitoring as he or she works with multiple candidates digitally and at the same time. Individual online sessions increase the client-trainer relationship, allowing for more personalized programs to assist clients achieve their fitness goals.

By Revenue Model

Based on the revenue model, the market is categorized into subscription, advertisement & hybrid. The subscription segment is expected to dominate the market share owing to the increasing demand of subscription-based virtual fitness training sessions which is cost friendly than signing up with a coach in person. Customers are also signing up for virtual subscription-based fitness services since they provide access to top-tier trainers, even if they are not physically present in the same location. However, the hybrid segment is expected to rise in the forecast period due to the ability to reach a wide range of customers, including those who are willing to pay on a pay-per-view basis or purchase a subscription plan for removing advertisements from paid virtual fitness programs on a trial basis.

By End User

Based on the end user, the market is categorized into professional gyms, sports institutes, defense institutes, educational institutions, corporate institutions, individuals, and others. Professional gyms are dominating the highest revenue in 2020 owing to the rising number of gym centers and fitness clubs settling up in the market. However, the individual's segment is expected to witness the highest growth rate in the near future owing to the rising customized training and one-to-one sessions leading to the growth of digital fitness market.

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy, Spain, Rest of Europe
• Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
• South America- Brazil, Argentina, Colombia, Rest of South America 
• The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa