The global online/virtual fitness market is expected to grow from $11.39 billion in 2021 to $16.15 billion in 2022, and to $79.87 billion by 2026, according to a report released last month by The Business Research Company.
The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote employment and the closure of commercial activities that resulted in operational challenges, the company's report states.
The global online/virtual fitness market is expected to grow from $11.39 billion in 2021 to $16.15 billion in 2022, and to $79.87 billion by 2026, according to a report released last month by The Business Research Company.
The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote employment and the closure of commercial activities that resulted in operational challenges, the company's report states.
However, gym owners remain optimistic that such growth will only enhance their in-person businesses.
As reported by CBS-affiliate WIFR in Rockford, Ill., Movement Fitness is one local gym that moved to web workouts during the pandemic and sees the trend's staying power two years later.
“We want to be a movement not only in these four walls, but outside of these four walls," owner Justin Kegley told WIFR. "And for us, online fitness has allowed us to use different apps to provide them with the same great quality care that we provide here at their house.”
Movement Fitness accommodates almost 200 members. Kegley expects the future of exercising to involve a mix of in-person classes and at-home workouts. “They still want to have some sort of interaction," he says. "So whatever that looks like, people just want to be cared for. So our goal is to provide them with that.”
Kourtney Adams, a trainer at Fitness Junction in Ogle County, launched an at-home workout app called "Commit with Kourt" in June 2020. “A lot of people are also coming back to gyms because they’re just realizing the importance of health now after COVID," Adams told WIFR. "I still have a lot of people working online with me, too, because they enjoy that they like the convenience."
According to The Business Research Company's report, North America as the largest region in the online/virtual fitness market in 2021. Asia Pacific is expected to be the fastest growing region in the forecast period.
The report identifies major players in online/virtual fitness market as ClassPass Inc., FITBIT INC., Fitness On Demand, Les Mills International Ltd., Navigate Wellbeing Solutions, Reh-Fit Centre, Sworkit Company, Viva Leisure, Wellbeats Inc., Zwift, Peloton Interactive Inc, Health Clubs & Gyms, Fast Lean Fitness centre and Gym, Charter Fitness Inc., and MoveGB.
