Virtual & Online Fitness Market To Top $250B as Demand Rises
Opportunities abound for fitness companies and personal trainers in the red-hot virtual fitness arena
The burgeoning global virtual and online fitness market is anticipated to reach a staggering $256.97 billion by 2032, a substantial increase from its 2022 valuation of $15.82 billion, according to recent findings by The Brainy Insights, a market research firm. Even better — the market is fertile ground for fitness companies and personal training experts.
Fueling the rapid growth is the demand for augmented reality (AR) and virtual reality (VR) fitness, perhaps accelerated by the pandemic, when consumers leaned even more on technology as a means of connection and to maintain fitness and wellness. The active aging demographic is also contributing significantly to the market’s predicted upward trajectory, as older fitness enthusiasts show interest in online fitness.
Fitness Brands Embrace VR
Several industry leaders are noted in the report for their contributions to the growing virtual/online fitness market, such as Mindbody/ClassPass, Fitbit, Les Mills and Wexer.
Les Mills recently launched Les Mills XR dance as a virtual fitness game that transports holographic professional dancers right into the personal space of Meta Quest 3 users.
Virtual fitness platform FitXR is also banking on the mixed reality (MR) and VR sector, with CEO and founder Sam Cole predicting the technology will soon be found in gyms and fitness facilities. The virtual fitness platform just unveiled Slam, an immersive and gamified MR experience with passthrough capabilities.
“The gamification aspect of Slam has allowed us to reach an entirely new group of users who are anxious about exercise, and young people who are addicted to sedentary gaming,” Cole told Athletech News.
Even activewear brand Puma is highlighting the entertaining experience of virtual and mixed-reality fitness, collaborating with Meta Quest at store locations in Germany to promote “the world’s smallest gym.” The pop-up events prompt guests to explore the workouts offered by Meta Quest 3 within a 2m x 2m pod.
Demand for Online Fitness is High
The advantages of virtual fitness are numerous for consumers, benefiting from the convenience and flexibility of a workout on their own schedule and current location. Plus, as the report acknowledges, virtual fitness platforms are often less expensive when compared to conventional gym or studio memberships, with many needing little or no equipment.
With just a few clicks, fitness enthusiasts can access a seemingly unlimited range of workout modalities, including boxing, yoga, dance cardio, Pilates, HIIT, ballet and more. Many fitness providers also offer the option to tailor a workout based on skill level and health goal, further personalizing the online fitness experience.
Can Virtual Fitness Become the New Rx?
As the report demonstrates, virtual fitness can break down barriers that in-person brands may experience, such as meeting the needs of consumers in geographically remote areas. There are also vast opportunities for fitness platforms to target content and classes based on regional preferences and cultural differences, expanding market penetration.
Corporate wellness programs and health care providers can consider partnering with virtual fitness companies to promote better health of employees and patients, even prescribing virtual fitness as part of a care plan. While still in the early stages of study, preliminary research suggests that VR exercise can positively impact physiological, psychological and rehabilitative outcomes compared with traditional exercise.
In alignment with the report, demand for virtual trainers and well-being coaches has also increased 44% year-over-year, according to corporate wellness company Gympass, which published its own findings after analyzing over 250 million check-ins on its platform over the past 24 months.
