The International Telecommunication Union (ITU) states that by the end of 2019, 4 billion individuals or 51% of the global population were using the internet. The surging internet penetration can be primarily attributed to the increasing affordability of the internet, owing to the rapid technological advancements in the information technology (IT) and telecom sector.
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The extensive use of the internet is encouraging people to adopt connected fitness devices to reach their fitness goals, as they help in measuring health parameters such as burnt calories and heart rate. Additionally, the rising adoption of outdoor fitness activities, such as yoga, cycling, Pilates, trail running, bodyweight training, and high-intensity interval training (HIIT), will fuel the online fitness market growth during 2021–2030.
All these activities can be easily carried out in an open space with no or minimal equipment. Moreover, with rapid advancements and innovations in smart wearable technology, people are now able to monitor and track their progress and get the optimum benefit of outdoor activities. Live and on-demand streaming fitness platforms can be installed on smartphones, smart TV, tablets, laptops, and desktops.
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The increasing adoption of such smart devices is creating a huge requirement for live streaming online fitness platforms as these platforms allow individuals to get personal training from their trainers. Besides, the rising internet penetration and accelerating internet speeds have enabled trainers to stream their classes seamlessly without any hindrances. Customers can opt for solo or group sessions for meeting their fitness goals.
- Future potential of the market through its forecast for the period 2020– 2030
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
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