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Global Online or Virtual Fitness Market Report 2023: Sector is Expected to Reach $190.4 Billion in 2032

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Dublin, May 04, 2023 (GLOBE NEWSWIRE) — The “Online Or Virtual Fitness Global Market Opportunities and Strategies to 2032” report has been added to ResearchAndMarkets.com’s offering.

This report provides the strategists; marketers and senior management with the critical information they need to assess the global online or virtual fitness market as it emerges from the COVID-19 shut down.

The market is expected to grow from $15,272.69 million in 2022 to $72,137.76 million in 2027 at a rate of 36.41%. The market is then expected to grow at a CAGR of 21.43% from 2027 and reach $190,491.91 million in 2032.

Companies Mentioned

  • Peloton
  • Les Mills International Ltd
  • Fitness First
  • ClassPass Inc
  • Core Health & Fitness

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 12 geographies.
  • Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market research findings.
  • Benchmark performance against key competitors.
  • Utilize the relationships between key data sets for superior strategizing.
  • Suitable for supporting your internal and external presentations with reliable high-quality data and analysis

This report describes and explains the online or virtual fitness market and covers 2017-2022, termed the historic period, and 2022-2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report evaluates the market across each region and for the major economies within each region.

Growth in the historic period resulted from strong economic growth in emerging markets, increased online fitness apps, a rise in digitalization, a growing interest in health insurance and outbreak of coronavirus disease (COVID-19).

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Going forward, increasing government support, rising penetration of smart devices and growing popularity of online fitness programs among the elderly population will drive the market growth. Factors that could hinder the growth of the online or virtual fitness market in the future include a rise in interest rates.

The online or virtual fitness market is segmented by device type into smart TV, smartphones, laptops, desktops and tablets and other device types. The smartphones market was the largest segment of the online or virtual fitness market segmented by device type for 38.19% of the total in 2022. Going forward, the smartphones market is expected to be the fastest growing segment in the online or virtual fitness market segmented by education system, at a CAGR of 38.71% during 2022-2027.

The online or virtual fitness market is segmented by revenue model into subscription, advertisement and hybrid. The subscription market was the largest segment of the online or virtual fitness market segmented by revenue model for 50.47% of the total in 2022. Going forward, the hybrid market is expected to be the fastest growing segment in the online or virtual fitness market segmented by revenue model, at a CAGR of 38.62% during 2022-2027.

North America was the largest region in the online or virtual fitness market, accounting for 41.58% of the total in 2022. It was followed by Asia Pacific, and then the other regions. Going forward, the fastest-growing regions in the online or virtual fitness market will be Asia Pacific and Middle East where growth will be at CAGRs of 38.29% and 36.84% respectively. These will be followed by North America and South America where the markets are expected to grow at CAGRs of 36.11% and 35.93% respectively.

The global online or virtual fitness market is fragmented, with a large number of players. The top ten competitors in the market made up to 11.19% of the total market in 2021. This can be due to the existence of number of local players in the market serving customers in particular geographies. Peloton was the largest competitor with 7.45% share of the market, followed by Les Mills International Ltd. with 1.47%, Fitness First with 0.51%, ClassPass Inc. with 0.45%, Core Health & Fitness with 0.39%, Econofitness with 0.35%, Sworkit Company with 0.32%, Daily Burn with 0.17%, Viva Leisure with 0.08% and Reh-Fit Centre with 0.02%.

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The top opportunities in the online or virtual fitness market segmented by device type will arise in the smartphones segment, which will gain $24,112.02 million of global annual sales by 2027. The top opportunities in the online or virtual fitness market segmented by revenue model will arise in the subscription segment, which will gain $30,093.45 million of global annual sales by 2027. The online or virtual fitness market size will gain the most in the USA at $17,838.27 million.

Market-trend-based strategies for the online or virtual fitness market include focus on artificial intelligence for virtual fitness, focus on virtual fitness stations, focus on innovative fitness apps and focus on strategic partnerships and collaborations.

Player-adopted strategies in the online or virtual fitness market include focus on enhancing business operations through the launch of new solutions, focus on providing premium hybrid fitness solutions through strategic collaborations and partnerships and focus on strengthening business activities through strategic acquisitions.

Key Attributes:

Report Attribute Details
No. of Pages 238
Forecast Period 2021 – 2031
Estimated Market Value (USD) in 2021 $15272.69 Million
Forecasted Market Value (USD) by 2031 $190491.91 Million
Compound Annual Growth Rate 28.7%
Regions Covered Global

Key Topics Covered:

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1. Executive Summary

2. Table Of Contents

3. List Of Figures

4. List Of Tables

5. Report Structure

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6. Introduction and Market Characteristics
6.1. General Market Definition
6.2. Summary
6.3. Online Or Virtual Fitness Market Definition And Segmentations
6.4. Market Segmentation By
6.4.1. Smart TV
6.4.2. Smartphones
6.4.3. Laptops, Desktops and Tablets
6.4.4. Other Device Types
6.5. Market Segmentation By Revenue Model
6.5.1. Subscription
6.5.2. Advertisement
6.5.3. Hybrid

7. Major Market Trends
7.1. Artificial Intelligence For Virtual Fitness
7.2. Focus On Virtual Fitness Station
7.3. Focus On Innovative Fitness Apps
7.4. Strategic Partnership And Collaboration

8. Global Market Size and Growth
8.1. Market Size
8.2. Historic Market Growth, 2017 – 2022, Value ($ Million)
8.2.1. Market Drivers 2017 – 2022
8.2.2. Market Restraints 2017 – 2022
8.3. Forecast Market Growth, 2022 – 2027, 2032F Value ($ Million)
8.3.1. Market Drivers 2022 – 2027
8.3.2. Market Restraints 2022 – 2027

9. Global Online Or Virtual Fitness Market Segmentation
9.1. Global Online Or Virtual Fitness Market, Segmentation By Device Type, Historic And Forecast, 2017 – 2022, 2027F, 2032F, Value ($ Million)
9.2. Global Online Or Virtual Fitness Market, Segmentation By Revenue Model, Historic And Forecast, 2017 – 2022, 2027F, 2032F, Value ($ Million)

10. Online Or Virtual Fitness Market, Regional and Country Analysis
10.1. Global Online Or Virtual Fitness Market, By Region, Historic and Forecast, 2017 – 2022, 2027F, 2032F, Value ($ Million)
10.2. Global Online Or Virtual Fitness Market, By Country, Historic and Forecast, 2017 – 2022, 2027F, 2032F, Value ($ Million)

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For more information about this report visit https://www.researchandmarkets.com/r/10ccdo

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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Artificial Intelligence

Aero Design Labs receives U.S. and EASA approval for updated Boeing 737-800 drag reduction kit

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FORT WORTH, Texas, Sept. 30, 2024 /PRNewswire/ — Aero Design Labs (ADL) today announced it has received a Supplementary Type Certificate (STC) from the Federal Aviation Administration (FAA) and European Union Aviation Safety Agency (EASA) approval for its enhanced Boeing 737-800 drag reduction kit 2.0.

“We are delighted to introduce our next generation of the drag reduction kit, which we are referring to as ‘ADL Kit 2.0′,” said Jeff Martin, ADL President and CEO. “The ADL team has once again demonstrated its expertise and commitment to aviation carbon reduction through its continued improvement process. ADL’s next generation Kit 2.0 is an evolution from our original designs, meeting the stringent requirements based on valuable feedback from our launch partners. With our new EASA approval, we can now offer our carbon reduction kits to new EU airline customers.”
The ADL Kit 2.0 captures new benefits, and significantly reduces the installation time, delivering reduced out-of-service time for the conversion while generating meaningful fuel savings and reduced carbon emissions across the popular Boeing 737-800 variant. Based on feedback from airline partners, it is anticipated that a kit can be installed overnight, minimizing critical out-of-service time for the airlines.
“Having served as an airline operational executive, I understand the need for airlines to reduce their carbon footprint, save fuel and minimize aircraft out-of-service time for the modification,” said David Campbell, ADL Chief Operating Officer. “ADL Kit 2.0 offers better economics and a shorter payback period, assisting airlines with fuel savings and carbon reduction including their IATA CORSIA carbon reduction pledges.”
“On behalf of the team at ADL, we thank ALOFT AeroArchitects, NORDAM, AAR Corp, and the many airline partners who have assisted us on this journey”, concluded Jeff Martin. “Their feedback and contributions to our engineering efforts and joint commitments to reducing aviation carbon emissions are invaluable.”
About Aero Design Labs L.L.C.
Founded in 2015, Aero Design Labs (ADL) leads the way in the research, development and installation of drag reduction systems for airline fleets globally. ADL modifications to airlines’ existing fleets can result in fuel savings, extend fleet longevity and the potential for billions of pounds of CO2 to be prevented from entering the atmosphere. 
Media inquiries: Richard Bartrem [email protected]
Sales inquiries: David Campbell [email protected]
Logo – https://mma.prnewswire.com/media/2519564/Aero_Design_Labs_Logo_Logo.jpg 

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DocPro Limited Announces the Launch of DocLegal.ai

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Affordable AI-Powered Legal Solutions
HONG KONG, Sept. 30, 2024 /PRNewswire/ — DocPro Limited, a leading innovator in legal technology, has launched DocLegal.ai, a new platform designed to provide AI-powered legal assistance at an unbeatable price—less than the price of your daily coffee.

DocLegal.ai is a platform that consolidates legal document creation, editing, and review into a single interface. The platform offers the following features:
Custom Document Creation: Users can describe their scenario and receive a tailored legal document.Document Review and Editing: The AI assistant can edit, review, summarize documents, suggest clauses, and highlight potential risks.The platform is designed to provide affordable legal services to small businesses and individuals. It also aims to streamline workflows and automate routine tasks for legal professionals, enabling them to focus on high-value activities.
DocPro Limited has leveraged its experience with DocPro.com, which serves over 50,000 users globally, to develop DocLegal.ai. The company is a graduate of the Cyberport Incubation Program and is currently part of the HKSTP Incubation Program and Google for Startups Cloud Program.
As part of its soft launch, DocLegal.ai is offering exclusive access to the first 500 users for only $2.50  per document. Interested parties can Visit the DocLegal.ai website to sign up.
About DocPro Limited
Founded in 2020, DocPro Limited is a leader in the legal tech space, committed to enhancing the delivery of legal services through innovative AI-powered solutions. With platforms like DocPro.com and DocLegal.ai, DocPro empowers users to create and manage legal documents with unparalleled efficiency and precision. For more information, visit DocLegal.ai.
DocLegal.ai is poised to become an indispensable tool for anyone seeking reliable, efficient, and affordable legal documentation, reinforcing DocPro’s position as a pioneer in legal technology.
Media Enquiries: 
Kim [email protected]

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Amagi and Phenix Partner to Bring Next-Gen Low Latency and Seamless Ad Insertion for the Ultimate Viewer Experience

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Bitmovin Complements the Partnership With Its New Player Web X, Guaranteeing Seamless, Crystal-Clear Video Playback
NEW YORK, Sept. 30, 2024 /PRNewswire/ — Amagi, a global leader in cloud-based SaaS technology for broadcast and connected TV (CTV), today announced a partnership with Phenix Real Time Solutions to deliver next-generation FAST (free ad-supported streaming TV) and live events with the lowest latency available in the streaming marketplace. Amagi and Phenix will provide a complete turnkey solution for content owners to achieve real-time streaming with subsecond latency and server-side ad insertion (SSAI). By combining automation, scheduling, real-time streaming, and ad monetization, streaming customers can now deliver a “see it here first” experience, eliminate spoilers from social media, and provide a best-in-class viewing experience for their audiences.

Bitmovin adds a unique element to the mix by ensuring effortless, smooth playback on any browser, regardless of the device. Bitmovin’s open-source plugin system makes integration easy and provides the tools to maintain high-quality playback. The latest update also includes compatibility with Phenix Real-Time SSAI, combining flawless playback with real-time ad insertion.
The direct integration with Phenix now enables Amagi to output content from its Amagi CLOUDPORT automated scheduling and playout system into Phenix’s globally distributed real-time streaming network of over 34 points of presence for real-time delivery to viewers with subsecond latency. Further integration between Amagi’s Ad Tech platform and Phenix’s real-time SSAI capabilities facilitates dynamic and personalized ads while maintaining real-time playback and full compatibility with Bitmovin.
Bill Wishon, Phenix’s Chief Product Officer, stated, “Amagi has established itself as the foremost authority on FAST channel delivery. As a cloud-first company, Amagi has built itself into a pioneer in cloud technology for broadcasting and OTT. We are thrilled to join forces with them in delivering these innovative solutions.”
“Working with Phenix, the leader in real-time, scalable streaming delivery, allows Amagi to offer clients a full solution, including the industry’s first server-side ad insertion in real time. We can’t wait to see how customers deploy these workflows for next-generation OTT streaming,” said Richard Perkett, Chief Product Officer at Amagi.
Amagi provides a complete suite of channel creation, distribution, and monetization solutions. The company’s clients include some of the world’s biggest names, including A+E Networks UK, ABS-CBN, Astro, Cox Media Group, DAZN, Globo, Lionsgate Studio, NBCUniversal, Tastemade, and VIZIO.
Representatives from all the companies will be attending Amagi’s LA FAST 2024 conference on Oct. 1. More information is available at www.amagi.com/events/la-fast.
About Amagi
Amagi is a next-generation media technology company that provides cloud broadcast and targeted advertising solutions to broadcast TV and streaming TV platforms. Amagi enables content owners to launch, distribute, and monetize live linear channels on Free Ad-supported Streaming TV and video services platforms. Amagi also offers 24×7 cloud-managed services bringing simplicity, advanced automation, and transparency to the entire broadcast operations. Overall, Amagi supports 800+ content brands, 800+ playout chains, and over 5,000+ channel deliveries on its platform in over 150 countries. Amagi has a presence in New York, Los Angeles, Toronto, Mexico City, London, Paris, Sydney, Seoul, and Singapore, broadcast operations in New Delhi, and innovation centers in Bengaluru, Zagreb, and Łódź.
About Phenix
As the leader in delivering interactive video at scale, Phenix powers innovative digital experiences that drive acquisition, engagement and retention for some of the world’s biggest brands. Its patented technology is essential for delivering content in real-time that engages audiences with interactive experiences and generates revenue for sportsbooks, sports and gaming properties as well as broadcasters with real-time video streaming to global audiences at broadcast scale. Trusted with streaming video for world-class events like The Oscars, Cheltenham Festival and the Super Bowl, Phenix brings proven experience delivering video to mass audiences for the world’s largest events.
Phenix is headquartered in Chicago, Illinois, with offices in California and Europe. More information is available on the Phenix website or follow them on Twitter and LinkedIn.
About Bitmovin
Bitmovin is the leading provider of video infrastructure for global digital media companies and service providers. The company has been at the forefront of industry innovation and all major developments in the digital video streaming industry. 
Bitmovin built the world’s first commercial adaptive streaming player and deployed the first software-defined encoding service that runs on any cloud platform. Its cloud-native technology offers the most flexible and scalable media encoding, playback, and analytics solutions available with unparalleled device reach, ease of integration, and world-class customer support.
Bitmovin customers benefit from optimized operations, reduced time-to-market, and the best viewer experience possible. Bitmovin is headquartered in Denver, Colorado, and has major offices in Vienna, Klagenfurt, Austria as well as London and Berlin. The company has over 400 customers across the globe, including ClassPass, BBC, fuboTV, Hulu, and Discovery.
More information is available at www.bitmovin.com
Photo: https://mma.prnewswire.com/media/2519499/Amagi_and_Phenix_partner.jpg
 

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