The rapid innovations and advancements being made in the smart wearable technology are enabling a large number of people to consistently monitor and track their progress and achieve their fitness goals. The online fitness service market is divided, on the basis of session type, into group and solo categories. Of these, the solo category is expected to exhibit higher growth rate in the market in the forthcoming years because of the fact that these sessions allow people to attend the classes as per their convenience.
Across the globe, North America was the largest online fitness service market in 2020. This was due to the high public awareness about health and fitness, surging disposable income of people, which enabled them to buy the subscriptions of online fitness classes, and increasing internet penetration in the region. In the upcoming years, the market will demonstrate the highest growth rate in the Asia-Pacific (APAC) region.
This is attributed to the growing population, ballooning usage of smartphones, and rising penetration of the internet in developing nations of APAC, such as China and India. The industry is currently highly fragmented, with players actively focusing on mergers and acquisitions for strengthening their position and gaining a competitive edge.
For example, HealthAssure, which is a primary healthcare aggregator, acquired FitMein, which is an on-demand fitness subscription service with over 2,500 fitness coaches and centers all over the world, in May 2020. Fit n Fast, Charter Fitness Inc., MoveGB, FitnessOnDemand, Sworkit, GoodLife, Fitness First, Wellbeats Inc., Navigate Wellbeing Solutions, Viva Leisure, Les Mills International Ltd., and Peerfit Inc. are some of the major online fitness service market players across the world.
Thus, the popularity of online fitness services will boom all over the world in the years to come, mainly due to the increasing penetration of the internet and growing usage of smart devices.
For example, HealthAssure, which is a primary healthcare aggregator, acquired FitMein, which is an on-demand fitness subscription service with over 2,500 fitness coaches and centers all over the world, in May 2020. Fit n Fast, Charter Fitness Inc., MoveGB, FitnessOnDemand, Sworkit, GoodLife, Fitness First, Wellbeats Inc., Navigate Wellbeing Solutions, Viva Leisure, Les Mills International Ltd., and Peerfit Inc. are some of the major online fitness service market players across the world.
Thus, the popularity of online fitness services will boom all over the world in the years to come, mainly due to the increasing penetration of the internet and growing usage of smart devices.
Comments
Post a Comment