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Connected Gym Equipment Market Expected to Reach $1,048 Million | By Top Leading Companies eGym, Les Mills International, Life fitness, Precor, Technogym, Draper Inc., IncludeFitness Inc., Paradigm Health & Wellness Inc., Johnson Health Tech Co. Ltd., and

02-05-2019 06:12 PM CET | Sports

Press release from: Allied Market Research

Connected Gym Equipment Market

Connected Gym Equipment Market

Improvement in economic condition and growing health concerns are the two key factors that propel the growth of the connected gym equipment market. The growing health awareness and need for an active lifestyle worldwide is a key driver for the growth of the connected gym equipment market. Sedentary lifestyle, changing eating habits have led to various health risks. Therefore, increase in awareness regarding regular physical activity along with good habits to stay healthy, to maintain a youthful appearance, and to reduce healthcare expenditure have raised the demand for smart gym equipment at residential and commercial spaces. In addition, significant count of geriatric population in the developed and developing countries also use unique fitness equipment to improve their cardiovascular conditions. This trend is also significantly driving the market for smartphones, WiFi enabled gym equipment.

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According to a new report published by Allied Market Research, titled, "Connected Gym Equipment Market by Product and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," the connected gym equipment market size was valued at $159 million in 2016, and is projected to reach $1,048 million by 2023, growing at a CAGR of 31.1% from 2017 to 2023. Cardiovascular training equipment in the global connected gym equipment market possesses a strong customer base. Demand for cardio equipment equipped with CSAFE connectivity, and compatibility with smartphones, iPod, and iPad is relatively much higher in the developed countries including the U.S., UK, and others. In addition, treadmills and stationary bicycles account for the most widely used type of cardiovascular equipment for weight management and overall body fitness.

Increased adoption of smartphones, rise in health awareness, increase in obese population, and rapid growth in health clubs and gymnasiums drive the growth of the connected gym equipment market. In addition, increased disposable income across developing nations, such as Asia-Pacific and LAMEA is anticipated to create lucrative opportunities for the global connected gym equipment market. However, high cost of connected gym equipment hampers the connected gym equipment market growth.

Asia-Pacific has emerged as one of the largest growing markets in the global connected gym equipment market. Improvement in economic conditions in the region along with growth in disposable income are the key drivers of the market. Economic growth in several countries in LAMEA boosts the market growth. In addition, an increase in the number of millennial is projected to drive the growth of the market. Therefore, the untapped regions in Asia-Pacific and LAMEA possess huge growth prospects in the coming years.

Health clubs or gyms generated the maximum revenue in 2016. Increase in the number of health clubs and gyms significantly drive the world connected gym equipment market. Health clubs drive the market for both cardiovascular and strength training exercises. In the U.S., gym membership rates have witnessed decent increase in the recent years owing to increasing incidence of obesity, with 34,460 clubs and 55 million members in 2015. Increasing health awareness among the population has increased the number of gym goers. Increase in per-capita income, increasing urbanization rates, and growing youth population in developing economies are expected to offer lucrative opportunities to market players.

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The U.S. is the largest market of connected gym equipment globally. The country exhibits the highest penetration of cardiovascular equipment across the world on account of high obesity rates and increased health consciousness. Adoption of cardiovascular equipment with advanced features is higher compared to the western European countries. Moreover, the market exhibits rising demand for technologically advanced, high-end home cardiovascular fitness equipment in the region.

The key players in connected gym equipment industry focus to expand their business operations in the emerging countries by adopting various strategies, such as acquisition and contact/agreement. The major players profiled in this report include 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 FINDINGS OF THE STUDY

• In 2016, strength training equipment was the second highest revenue generating product type, and is projected to grow at a CAGR of 30.0 % during the forecast period.
• Elliptical under cardiovascular training equipment is expected to grow at the highest CAGR of 33.5%.
• Health clubs or gyms accounted for more than 40% of market share in 2016, and is expected to dominate the global market by 2023.
• Japan is the major shareholder in the Asia-Pacific Connected Gym Equipment industry, and accounted for around 33% share in 2016.

LIST OF FIGURES

FIGURE 1. GLOBAL CONNECTED GYM EQUIPMENT MARKET: EXECUTIVE SUMMARY
FIGURE 2. CONNECTED GYM EQUIPMENT MARKET SEGMENTATION
FIGURE 3. TOP INVESTMENT POCKETS, BY REGION, 2016
FIGURE 4. TOP IMPACTING FACORS OF CONNECTED GYM EQUIPMENT MARKET
FIGURE 5. KEY PLAYERS POSITIONING, 2016
FIGURE 6. MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 7. HIGH BARGAINING POWER OF BUYERS
FIGURE 8. MODERATE THREAT OF SUBSTITUTION
FIGURE 9. LOW THREAT OF NEW ENTRANT
FIGURE 10. HIGH COMPETITIVE RIVALRY
FIGURE 11. MARKET DYNAMICS
FIGURE 12. NUMBER OF SMARTPHONE USERS WORLDWIDE (UNIT BILLION)
FIGURE 13. PREVALENCE OF BEING OVERWEIGHT (BMI >=25), IN ADULTS OVER 18 YEARS, 2010 & 2014
FIGURE 14. FITNESS CLUBS AND GYM MEMBERSHIPS IN THE U.S. (MILLION)
FIGURE 15. WORLD YOUTH POPULATION, AGES 15-24, BY REGION, 1970-2015
FIGURE 16. CONNECTED GYM EQUIPMENT MARKET REVENUE FROM CARDIOVASCULAR TRAINING EQUIPMENT, BY COUNTRY SHARE, 2016 (%)
FIGURE 17. CONNECTED GYM EQUIPMENT MARKET REVENUE FROM STRENGTH TRAINING EQUIPMENT, BY COUNTRY SHARE, 2016 (%)
FIGURE 18. CONNECTED GYM EQUIPMENT MARKET REVENUE FROM OTHER EQUIPMENT, BY COUNTRY SHARE, 2016 (%)
FIGURE 19. CONNECTED GYM EQUIPMENT MARKET REVENUE FROM RESIDENTIAL USERS, BY COUNTRY SHARE, 2016 (%)
FIGURE 20. CONNECTED GYM EQUIPMENT MARKET REVENUE FROM GYM/HEALTH CLUBS, BY COUNTRY SHARE, 2016 (%)
FIGURE 21. CONNECTED GYM EQUIPMENT MARKET REVENUE FROM COMMERCIAL USERS, BY COUNTRY SHARE, 2016 (%)
FIGURE 22. GLOBAL CONNECTED GYM EQUIPMENT MARKET, BY REGION, 2016 (%)
FIGURE 23. U.S. CONNECTED GYM EQUIPMENT MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 24. CANADA CONNECTED GYM EQUIPMENT MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 25. MEXICO CONNECTED GYM EQUIPMENT MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 26. UK CONNECTED GYM EQUIPMENT MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 27. GERMANY CONNECTED GYM EQUIPMENT MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 28. ITALY CONNECTED GYM EQUIPMENT MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 29. FRANCE CONNECTED GYM EQUIPMENT MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 30. REST OF EUROPE CONNECTED GYM EQUIPMENT MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 31. CHINA CONNECTED GYM EQUIPMENT MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 32. INDIA CONNECTED GYM EQUIPMENT MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 33. JAPAN CONNECTED GYM EQUIPMENT MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 34. KOREA CONNECTED GYM EQUIPMENT MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 35. REST OF ASIA-PACIFIC CONNECTED GYM EQUIPMENT MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 36. LATIN AMERICA CONNECTED GYM EQUIPMENT MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 37. MIDDLE EAST CONNECTED GYM EQUIPMENT MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 38. AFRICA CONNECTED GYM EQUIPMENT MARKET REVENUE, 2016-2023 ($MILLION)
FIGURE 39. EGYM: REVENUE, 2014-2016 ($MILLION)
FIGURE 40. EGYM: REVENUE SHARE BY SEGMENT, 2015 (%)
FIGURE 41. EGYM: REVENUE SHARE BY GEOGRAPHY, 2015 (%)
FIGURE 42. LES MILLS INTERNATIONAL: REVENUE, 2014-2016 ($MILLION)
FIGURE 43. LES MILLS INTERNATIONAL: REVENUE SHARE BY SEGMENT, 2015 (%)
FIGURE 44. LES MILLS INTERNATIONAL: REVENUE SHARE BY GEOGRAPHY, 2015 (%)
FIGURE 45. LIFE FITNESS: REVENUE, 2014-2016 ($MILLION)
FIGURE 46. LIFE FITNESS: REVENUE SHARE BY SEGMENT, 2015 (%)
FIGURE 47. LIFE FITNESS: REVENUE SHARE BY GEOGRAPHY, 2015 (%)
FIGURE 48. PRECOR: REVENUE, 2014-2016 ($MILLION)
FIGURE 49. PRECOR: REVENUE SHARE BY SEGMENT, 2015 (%)
FIGURE 50. PRECOR: REVENUE SHARE BY GEOGRAPHY, 2015 (%)
FIGURE 51. TECHNOGYM: REVENUE, 2014-2016 ($MILLION)
FIGURE 52. TECHNOGYM: REVENUE SHARE BY SEGMENT, 2015 (%)
FIGURE 53. TECHNOGYM: REVENUE SHARE BY GEOGRAPHY, 2015 (%)
FIGURE 54. DRAPER INC.: REVENUE, 2014-2016 ($MILLION)
FIGURE 55. DRAPER INC.: REVENUE SHARE BY SEGMENT, 2015 (%)
FIGURE 56. DRAPER INC.: REVENUE SHARE BY GEOGRAPHY, 2015 (%)
FIGURE 57. INCLUDEFITNESS INC.: REVENUE, 2014-2016 ($MILLION)
FIGURE 58. INCLUDEFITNESS INC.: REVENUE SHARE BY SEGMENT, 2015 (%)
FIGURE 59. INCLUDEFITNESS INC.: REVENUE SHARE BY GEOGRAPHY, 2015 (%)
FIGURE 60. PARADIGM HEALTH & WELLNESS INC.: REVENUE, 2014-2016 ($MILLION)
FIGURE 61. PARADIGM HEALTH & WELLNESS INC.: REVENUE SHARE BY SEGMENT, 2015 (%)
FIGURE 62. PARADIGM HEALTH & WELLNESS INC.: REVENUE SHARE BY GEOGRAPHY, 2015 (%)
FIGURE 63. JOHNSON HEALTH TECH CO. LTD.: REVENUE, 2014-2016 ($MILLION)
FIGURE 64. JOHNSON HEALTH TECH CO. LTD.: REVENUE SHARE BY SEGMENT, 2015 (%)
FIGURE 65. JOHNSON HEALTH TECH CO. LTD.: REVENUE SHARE BY GEOGRAPHY, 2015 (%)
FIGURE 66. NAUTILUS INC.: REVENUE, 2014-2016 ($MILLION)
FIGURE 67. NAUTILUS INC.: REVENUE SHARE BY SEGMENT, 2015 (%)
FIGURE 68. NAUTILUS INC.: REVENUE SHARE BY GEOGRAPHY, 2015 (%)

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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.

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