New York, USA, June 23, 2021 (GLOBE NEWSWIRE) — The latest report by Research Dive states that the global virtual fitness market is expected to garner revenue of $59,650.3 million by 2027, rising from $6,060.0 million in 2019 at a stable CAGR of 33.5% during the forecast period, 2020-2027.
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Many people tend to join gyms at the beginning only to lose out on their motivation over time which leads to them quitting. There has also been a rise in the number of young kids suffering from obesity. Additionally, the World Obesity Federation noted that according to a research in 2019, there were over 150 million children who were overweight and the number is expected t rise further to over 206 million by 2025. This is expected to lead to an increased awareness about the importance of exercise leading to the growth of the global virtual fitness market.
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On the other hand, many people are unaware of the availability of virtual classes and this is usually noticed in the developing economies. To add further, creating content that can be available online has a higher production cost and a lack of strong network could limit its availability. These factors have been a major hindrance to the market growth rate.
But, over the years, a new…