The strong demand for socially distanced online fitness modules will likely be a new beginning for the online fitness market, which will likely reach USD5.87 billion in valuation by 2028 end. The market is expected to grow at 7.03% during the 2021-2028 period, as demand for both key channels like on-demand, and live fitness modules continues to skyrocket. The rising demand for online fitness to engage in fitness activities to shield from coronavirus, and increase health wellbeing is on display from rising revenues of major players in the industry. For example, Peloton, reported a 121% increase in the second quarter of 2021, from the previous year, thanks to growing demand for consumers. Peloton’s initial valuation of USD 8.1 billion was something analysts scoffed at in 2019, as the company’s products left some to desire more. However, contrary to their expectations, the company’s valuation in 2021 has reached record levels at $32 billion according to reports in the Financial Times.
Furthermore, Peloton’s success has inspired promising rivals in the online fitness market. For example, the former US national team rowing coach, Bruce Smith has founded Hydrow, a virtual experience company for home rowing machine. Similar ventures like Liteboxer, a virtual sparring platform have also cropped up in recent years. Some challenges like the growth prospect in post-covid era also continue to loom large on the market. However, according to industry analysts, these virtual experiences are not just selling products which are essential for growth for consumers, but are also selling social-contact, a much needed luxury during the coronavirus period, and happiness as a mantra, which is increasingly becoming a rare commodity in the global economy.
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Key players in the global Interactive Fitness market covered in Chapter 13:
Interactive Fitness Holdings LLC
Peloton Interactive Inc
Axtion Technology LLC
Motion Fitness LLC
Echelon Fitness LLC
In Chapter 6, on the basis of types, the Interactive Fitness market from 2015 to 2025 is primarily split into:
In Chapter 7, on the basis of applications, the Interactive Fitness market from 2015 to 2025 covers:
Market segment by Region, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
The interactive fitness market report is segmented into three categories based on the revenue model. These include subscription-based model, advertisement-based model, and hybrid model. The advertisement-based model will likely register strong growth as many small players in the interactive fitness are well-established on platforms like YouTube, which are great gateways for newbies, and fitness enthusiasts. Moreover, the social nature of interaction on these platforms have maintained transparency and consumer trust, which are ideal for long-term growth. furthermore, the increasing transparency in models like YouTube promises tremendous growth for small players, who often run the operation with little technical resources, and require low-investments to entry in the interactive fitness market. However, despite the many positives of models like advertisement, core fitness enthusiasts are likely to turn towards subscription-based model in the long run. The demand for professional fitness training amidst a growing demand for fitness, and personal wellbeing are essential for many.
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