Connected Gym Equipment Market is Predicted to Gain an Upward Trend Due to its Rapid Use by Commercial Users

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. The continued growing health concerns among youth and adults, increased adoption of smartphones, growth in obesity, and increased number of gyms and health clubs drives the global connected gym equipment market. Moreover, increase in income in developing economies is expected to propel the growth of global connected gym equipment market during the forecast period.

Access Full Summary: https://www.alliedmarketresearch.com/connected-gym-equipment-market

This global connected gym equipment market is segmented based on type, end user, and region. The type segment includes cardiovascular training equipment, strength training equipment, and other equipment. Based on end user, the market is classified into residential, gym/health clubs, and commercial users. The adoption of connected gym equipment is expected to increase among the population. Sedentary lifestyles and hectic schedule have led to the adoption of in-home equipment.

Exercising at home using smart treadmills, ellipticals, and other cardiovascular and strength training equipment saves gym membership expenses. However, space limitation and high cost of equipment restrain the connected gym equipment market growth of the home usage segment. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The global connected gym equipment market in Europe is expected to grow steadily. The UK dominates the industry in Europe followed by Germany, France, and Italy. The increase in adoption of fitness exercises contributes to the growth of the connected gym equipment industry across the European region.

Get the PDF brochure: https://www.alliedmarketresearch.com/request-sample/4296

The European connected gym equipment market is dominated by UK, constituting around 6,312 health and fitness clubs. It is characterized with presence of high obese population fueling the growth of the connected gym equipment market in the region. In the cardio equipment category, rowing machines, exercise bikes, and cross trainers are popular. High-end products such as rowing machines featured with wireless heart rate receiver and adjustable water resistance have gained considerable popularity in the UK. The major foreign companies operating in the UK include Technogym, Brunswick Corporation, Amer Sports, and others.

As per a recent research, in 2014, about 20 million women were reported to be obese as compared to 9.8 million men. However, lower prevalence rate of obesity and lower urbanization rate of India as compared to China and Japan have restricted the penetration of connected gym equipment in the region. As per a study, in 2011, the number of health clubs were reported to be around 3,800, and the total number of memberships were in the range of 0.94-0.95 million.

Make a purchase enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/4296

Health clubs or gyms accounted for the maximum share in 2016. However, commercial users are projected to grow at a notable growth rate. It includes hotels, offices, public institutions, and hospitals. Hotels have emerged as a significant end user segment in other commercial users. The hotels have started with their integrations with fitness clubs and gymnasiums to provide an overall experience to the members. Business travelers are said to be one of the major end users of gym equipment in hotels, thereby providing a pleasant stay for the customers.

The hoteliers have also initiated membership programmers to their frequent guests at affordable rates to increase their customer base. For instance, Trump Hotel, a U.S.-based luxury 5-star hotel, entered into a partnership with Technogym, a leading player in the market, to enhance travel experience of its health-conscious guests through its Trump Wellness Program.

The report includes comprehensive analysis of the key players in this 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 overall market potential and gain stronger market foothold.
• Key drivers, restraints, and opportunities and their detailed impact analysis are elucidated.
• Quantitative analysis of the market 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.
• Porter’s Five Forces model illustrates the threat of new entrants, threat of substitutes, and strength of the buyers & suppliers.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
Shriram Dighe
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1?855?550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

This release was published on openPR.