For a long time, global fits of the electroweak sector of the Standard Model (SM) have been used to exploit measurements of electroweak precision observables at lepton colliders (LEP, SLC), together with measurements at hadron colliders (Tevatron, LHC), and accurate theoretical predictions at multi-loop level, to constrain free parameters of the SM, such as the Higgs and top masses. Today, all fundamental SM parameters entering these fits are experimentally determined, including information on the Higgs couplings, and the global fits are used as powerful tools to assess the validity of the theory and to constrain scenarios for new physics. Future measurements at the Large Hadron Collider (LHC) and the International Linear Collider (ILC) promise to improve the experimental precision of key observables used in the fits. This paper presents updated electroweak fit results using newest NNLO theoretical predictions, and prospects for the LHC and ILC. The impact of experimental and theoretical uncertainties is analysed in detail. We compare constraints from the electroweak fit on the Higgs couplings with direct LHC measurements, and examine present and future prospects of these constraints using a model with modified couplings of the Higgs boson to fermions and bosons.
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