The International Telecommunication Union (ITU) estimates that the number of internet users around the world surged from 3.7 billion in 2018 to 4.0 billion in 2019. As per the ITU, around 51% of the global population was using the internet in 2019. The surging internet usage can be owed to the rising affordability of the internet, primarily on account of rapid technological developments in the information technology (IT) and telecom industry. The widespread internet use is facilitating the adoption of online fitness platforms to remain healthy, as they help in measuring health parameters, such as heart rate and calories burnt.
Additionally, the increasing penetration of smart devices, such as smart TVs, smartphones, and smartwatches, will also contribute to the online fitness market growth during the forecast period (2021–2030). The growth of this market can also be credited to the growing preference for outdoor fitness activities, such as bodyweight training, cycling, high-intensity interval training (HIIT), pilates, and trail running. Besides, the increasing advancements in the smart wearable technology will also propel the adoption of online fitness platforms, owing to the ability of advanced wearables to track the progress of individuals and get the maximum benefit from such physical activities.
Online fitness programs can be used on smartphones, smart TVs, gaming consoles, fitness bands, smartwatches, and laptops, desktops, and tablets. Customers can subscribe to group or solo sessions on their devices, according to their convenience. In the upcoming years, there will be a significant shift toward solo sessions as they enable trainers to provide personal guidance to individuals and allow participants to schedule their sessions according to their convenience . These sessions are available in hybrid, subscription, and advertisement revenue models.
The streaming type segment of the online fitness market is divided into on-demand and live. Under this segment, the live category is projected to display faster growth during the forecast years. This will be on account of the growing penetration of the internet and increasing usage of smart devices, such as tablets and smartphones. In live streaming, trainers offer personal guidance to participants, while addressing the specific needs of the individual.
According to P&S Intelligence, the North American region was the dominant customer of online fitness platforms in the recent past, owing to the high public awareness regarding a healthy lifestyle and deep penetration of the internet and smartphones. The World Bank states that approximately 89% of the U.S. population and about 97% of the Canadian population had access to the internet in 2019. Additionally, the rising popularity and affordability of smart wearables will also encourage the people of Canada and the U.S. to shift toward online fitness platforms to connect their devices and measure their progress via smart applications.
Whereas, the Asia-Pacific (APAC) online fitness market is expected to demonstrate the fastest growth in the forecast years due to the growing population, increasing internet usage, and surging smartphone penetration in developing countries, such as China and India. According to the World Bank, India and China had 115,370,983 and 169,635,600 mobile phone users, respectively, in 2020. The organization further states that approximately 71% of the Chinese populace had access to the internet in 2020, and 41% of the Indian population was using the internet in 2019.
Thus, the growing internet and smartphone usage and increasing preference for outdoor physical activities will accelerate the adoption of online fitness platforms worldwide.
