Metaverse Health and Fitness - NAFTA

The projected value in the Metaverse Health and Fitness market is estimated to reach US$3.5bn by 2024.
This market segment is expected to exhibit an annual growth rate (CAGR 2024-2030) of 35.06%, resulting in a projected market volume of US$21.0bn by 2030.
The United States is the primary generator of value in this market, with a projected market volume of US$3.2bn in 2024.
In terms of user base, the number of users in the Metaverse Health and Fitness market is expected to reach 23.6m users by 2030.
The user penetration rate is anticipated to be 1.7% in 2024 and is projected to increase to 4.5% by 2030.
The average value per user (ARPU) is expected to be US$395.1 .
In NAFTA, the Metaverse Health and Fitness market is booming as Canadians embrace virtual reality workouts for their at-home fitness routines.

Definition:

The Health and Fitness market refers to the use of virtual and augmented reality technology to deliver health and fitness services and information. These applications range widely and include virtual personal training, virtual rehabilitation, virtual therapy, and virtual wellness programs.

Additional Notes:

The market comprises market sizes, users, average revenue per user, and penetration rates. Market sizes are generated through in-app purchases and consumer spending on items, products, and/or software. Market numbers about digital health can also be found in the Digital Market Insights. Key players in the market include companies, such as Black Box VR, VirZOOM, and Virtual Bodyworks. For more information on the data displayed, use the info button right next to the boxes.

Virutal fitness classes, such as Supernatural
Virtual personal trainings, such as Fitbit Coach
Virtual wellness retreats, such as Wanderlust Virtual

Digital fitness devices, such as Smartwatches
Over-the-counter pharmaceuticals sold via the internet, such as in Healthwarehouse
Health tracking apps, such as Health on Apple

The Metaverse Health and Fitness market in NAFTA is experiencing significant growth and development.

Customer preferences: Customers in the Metaverse Health and Fitness market in NAFTA are increasingly seeking convenient and personalized fitness solutions. With the rise of virtual reality and augmented reality technologies, individuals are looking for immersive and interactive experiences that can be accessed from the comfort of their own homes. This allows them to exercise at their own pace and on their own schedule, without the need for expensive gym memberships or travel to fitness facilities. Additionally, customers are increasingly interested in tracking their fitness progress and accessing personalized workout plans and nutrition advice through virtual platforms.

Trends in the market: One of the key trends in the Metaverse Health and Fitness market in NAFTA is the integration of gamification elements into fitness experiences. Virtual reality and augmented reality technologies allow users to participate in virtual fitness challenges and games, making exercise more engaging and enjoyable. This trend is particularly appealing to younger generations who have grown up with video games and are motivated by competition and rewards. Another trend in the market is the emergence of virtual fitness communities. Through virtual platforms, individuals can connect with like-minded fitness enthusiasts, participate in group workouts, and share their progress and achievements. This sense of community and social interaction adds an extra layer of motivation and accountability for customers, helping them stay committed to their fitness goals.

Local special circumstances: In the NAFTA region, the Metaverse Health and Fitness market is influenced by the cultural emphasis on health and wellness. The United States and Canada, in particular, have a strong fitness culture, with a significant portion of the population actively seeking ways to improve their physical well-being. This creates a favorable environment for the growth of the Metaverse Health and Fitness market, as individuals are already open to exploring new and innovative fitness solutions.

Underlying macroeconomic factors: The growth of the Metaverse Health and Fitness market in NAFTA is also driven by macroeconomic factors. The increasing adoption of virtual reality and augmented reality technologies, as well as the availability of high-speed internet connections, has made virtual fitness experiences more accessible to a larger audience. Additionally, the COVID-19 pandemic has accelerated the shift towards remote and at-home fitness solutions, as individuals have been forced to find alternatives to traditional gym settings. This has created a significant opportunity for the Metaverse Health and Fitness market to thrive and expand in the NAFTA region. Overall, the Metaverse Health and Fitness market in NAFTA is experiencing growth due to customer preferences for convenient and personalized fitness solutions, the integration of gamification and virtual communities, the cultural emphasis on health and wellness, and the underlying macroeconomic factors such as the adoption of virtual reality technologies and the impact of the COVID-19 pandemic.

Data coverage:

Figures are based on in-app spending, consumer spending, app downloads, and investment and funding data.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use reports, third-party studies, and research companies. Next we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, and internet penetration rates. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are consumer spending per capita, level of digitalization, and cloud revenues.

Additional Notes:

The market is updated twice per year in case market dynamics change. Consumer Insights data is unbiased for representativeness.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Regarded as the next iteration of the internet, the metaverse is where the physical and digital worlds come together. As an evolution of social technologies, the metaverse allows digital representations of people, avatars, to interact with each other in a variety of settings. Whether it be at work, in an office, going to concerts or sports events, or even trying on clothes, the metaverse provides a space for endless, interconnected virtual communities using virtual reality (VR) headsets, augmented reality (AR) glasses, smartphone apps, or other devices.