Connected Gym Equipment Market Increased adoption of smartphones

The global connected gym equipment market size is expected to reach $1,048 million by 2023, registering a CAGR of 31.1% during the forecast period. Gym equipment connected to a software or application that records the workout of an individual and displays the data is called connected gym equipment. Connected gym equipment are set automatically, following an initial adjustment, to prevent incorrect and potentially harmful seating positions. Exercise station has a touch-operation screen, which displays the optimal sequence of movements. The equipment is connected to the internet and automatically transmits all training data to the trainers app. Thus, it helps to keep a track of workout goals, create personalized exercise plans, and record health history.

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According to International Health, Racquet, and Sportsclub Association (IHRSA), in 2014, the number of fitness club memberships in the U.S. increased to 54.1 million, from 51.4 million in 2011. Rise in fitness consciousness and increase in level of health awareness is expected to significantly drive the connected gym equipment market. Improved lifestyle, coupled with rise in disposable income of individuals accelerates the market growth. However, high cost of connected gym equipment majorly restricts the market. Growth in fitness industry in Asia-Pacific is expected to open new avenues for the market players.

The global connected gym equipment market is segmented on the basis of type, end user, and geography. The type segment includes cardiovascular training equipment, strength training equipment, and other equipment. In 2016, Treadmills, ellipticals, stationary bike, rowing machine and others have witnessed the maximum revenue generation in 2016. The growth in number of obese population has resulted into huge demand of connected cardiovascular equipment at both residential and commercial spaces. Thus, cardiovascular training equipment generated the maximum revenue. Based on end user, the global connected gym equipment market is classified into residential, gym/health clubs, and commercial users. Regionally, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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The report includes comprehensive analysis of the key players in the connected gym equipment market such as eGym, Les Mills International, Life fitness, Precor, Technogym, Draper Inc., IncludeFitness Inc., Paradigm Health & Wellness Inc., Johnson Health Tech Co. Ltd., and Nautilus Inc.

KEY BENEFITS FOR STAKEHOLDERS

This report provides an in-depth analysis of the global connected gym equipment market to identify the potential investment pockets.
It outlines the current trends and future scenarios to determine the connected gym equipment market potential and gain stronger market foothold.
Key drivers, restraints, and opportunities and their detailed impact analysis are elucidated.
Quantitative analysis of the connected gym equipment industry from 2016 to 2023 is highlighted to recognize the financial competency of the market.
Porter’s Five Forces model illustrates the threat of new entrants, threat of substitutes, and strength of the buyers & suppliers.

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KEY MARKET SEGMENTS

By Type

Cardiovascular training equipment
Strength training equipment
Other equipment
By End User

Residential
Gym/health clubs
Commercial users

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This release was published on openPR.