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Connected Gym Equipment Market 2028 – Industry Scenario, Strategies, Growth Factors with Top Key Players EGYM, Life Fitness, LES MILLS INTERNATIONAL, Technogym and Precor Incorporated

06-01-2021 03:13 PM CET | Sports

Press release from: The Insight Partners

/ PR Agency: The Insight Partners
Connected Gym Equipment

Connected Gym Equipment

According to our latest market study on “Connected Gym Equipment Market Forecast to 2028 – COVID-19 Impact, and Global Analysis – by Type (Cardiovascular Training, Strength Training, and Others) and End-User (Residential, Gym, and Other Commercial User),” the market was valued at US$ 510.55 million in 2020 and is expected to reach US$ 3,472.69 million by 2028 with a CAGR of 28.1% during 2021–2028.  

North America is the region with maximum usage of connected gym equipment as compared to other regions. Considering the current work culture, people are understanding the importance of exercise and physical activity. The extent of knowledge about various types of products, retailer penetration, capacity to spend on latest connected equipment, and product pricing are the significant factors that drive the connected gym equipment market in this region.

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The Asia Pacific is predicted to experience promising growth in this market in upcoming years. Growing health concerns, along with the increasing buying capacity of consumers, are anticipated to boost the demand for connected gym equipment in this region, especially in India, China, and Japan.

Since the last few years, the count of small and mid-sized gyms and large health clubs has increased noticeably in this region. Places such as schools, colleges, hotels, offices, and huge condominiums are setting up fitness centers and gyms, which are contributing to the growth of this market.

In Europe, people are very much aware of their health. Hence, this region’s gym market was growing considerably in 2020. Considering health issues like obesity and heart problems, people are increasingly indulging in a daily workout. Germany and the UK are the largest markets in this region. Moreover, an increase in the number of new gyms and fitness clubs is observed in countries such as France, Austria, and Sweden.

In South America, it is observed that people are increasingly adopting preventive healthcare to avoid various diseases and disorders. Numerous government initiatives, along with health camps conducted by several organizations to promote fitness, have also been driving the market. To gain more market share, key players are continuously focusing on developing innovative and advanced gym equipment for their customers.

The fitness, sports, and health industry have witnessed great advancement over the past few years in the Middle East region. With a growing inclination toward living a healthy lifestyle, the knowledge of the people regarding fitness grew along with their demands. Investment opportunities in the fitness and health sector seem to be promising in this region.

People have different schedules according to their professions. General timings in gyms and health clubs may not be suitable for every customer. Also, the user’s timing and trainer’s timing should match for the workout session. There lies a great opportunity in designing and manufacturing affordable connected gym equipment for residential use as users are inclining toward privacy and convenience. Demand for smart fitness equipment is increasing in developed as well as developing countries. These majorly include countries from North America, Europe, and Asia-Pacific. Also, disposable household income is increasing noticeably in many developing countries.

Considering buying capacity and space available at home, manufacturers have also got an opportunity for customization of smart equipment and machines, which will significantly increase the demand for mid-price segment connect gym equipment. With the use of advanced technology, various new smart fitness equipment can be introduced which provides treatment for various diseases and disorders, other than cardiovascular training and strength training. Doctors, physicians, and tech experts can work together for developing such products. With research and development, companies can identify new needs and wants of the customers, which will create a significant opportunity for launching new products that will cater to several different applications.

Rising Demand for Residential Connected Gym Equipment

People have different schedules according to their professions. General timings in gyms and health clubs may not be suitable for every customer. Also, the user’s timing and trainer’s timing should match for the workout session. There lies a great opportunity in designing and manufacturing affordable connected gym equipment for residential use as users are inclining toward privacy and convenience. Demand for smart fitness equipment is increasing in developed as well as developing countries. These majorly include countries from North America, Europe, and Asia-Pacific. Also, disposable household income is increasing noticeably in many developing countries.

The report segments the globally connected gym equipment market as follows:

By Type

Cardiovascular Training
Strength Training
Others

By End-User

Residential
Gym
Other Commercial User

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The Connected Gym Equipment Market research study is designed to keep in focus all the major countries. Although all these countries & their market trends were accounted for while composing it, detailed sections are available for only the spearheads. In case if you would be interested in specific countries that are not covered in the current scope, kindly share the list & we can customize the study based on the geographical scope defined by you.

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If you have any queries about this report or would like further information, please contact us:

North America: +1 646 491 9876

Asia-Pacific: +91 20 6727 8686

Email: sales@theinsightpartners.com

ABOUT US:

The Insight Partners is a one stop industry research provider of actionable solutions. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are specialist in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Our research model is very simple. We believe in client servicing and delivering best quality to our customers. Through our research content, we are making sure that our customers get the value of their money along with better quality data and analysis.

Our research content is majorly focused on market trends in terms of market sizing, competitive landscaping, company analysis, regional or country analysis etc. We provide a detailed break-up of segmentation in terms of geography, technology, product and services etc.; which helps our clients to get deeper analysis on various research topics.

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