How Are People Improving their Health Through Online Fitness Platforms?

Online fitness platform developers such as ClassPass Inc., Peerfit Inc., FitnessOnDemand, CureFit, Navigate Wellbeing Solutions, Viva Leisure, Les Mills International Ltd., MoveGB, Charter Fitness Inc., Sworkit, GoodLife, Fitness First, Fit n Fast, and Wellbeats Inc. are offering subscription, advertisement, and hybrid revenue models to their customers.

To reach out to a vast clientele, these companies are engaging in mergers and acquisitions and focusing on developing platforms for content. For example, in January 2021, CureFit completed the acquisition of Onyx, a California-based company that specializes in the personalization of workout feedback and body tracking technology. According to P&S Intelligence, North America dominated the online fitness market in the preceding years, due to the high smartphone and internet penetration and massive public awareness about the benefits of a healthy lifestyle in the region.

Online Fitness Market Growth Prospects, Key Vendors, and Future Scenario

According to the World Bank, around 93% of people in Canada used the internet in 2017 and nearly 88% of the U.S. population was using the internet in 2018. Moreover, the surging affordability and popularity of smart wearable devices will also encourage the adoption of online fitness platforms in the region in the coming years. Whereas, Asia-Pacific (APAC) is expected to adopt online fitness platforms at the highest rate in the forthcoming years.

This will be due to the booming population, increasing internet penetration, and rising smartphone usage in developing countries, such as China and India. As per the World Bank, nearly 34.4% and 54.3% of people in India and China, respectively, were internet users in 2019. Furthermore, there were around 700 million internet users in India in 2020, as per Statista.

Thus, the surging internet and connected devices penetration and the increasing shift toward outdoor fitness activities will augment the usage of online fitness platforms in the foreseeable future.

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