Fascinating Connected Gym Equipment Market Tactics That Can Help Your Business Grow with Top Key Players EGYM, Life Fitness, LES Mills International, Technogym, and Precor Incorporated

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 the latest connected equipment, and product pricing are the significant factors that drive the connected gym equipment market in this region.

Get Sample Report of Connected Gym Equipment Market Report @ https://bit.ly/3CwQpbp

(*If you have any special requirements, please let us know and we will offer you the report as you want.)

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.

The List of Companies - Connected Gym Equipment Market

EGYM; Life Fitness; Les Mills International Ltd; Technogym S.p. A; Precor Incorporated; Cybex International, Inc.; Johnson Health Tech, Nautilus, Inc.; and True Fitness Technology, Inc. are among the key players that are profiled during this market study. In addition to these players, several other essential market players have also been studied and analyzed to get a holistic view of the globally connected gym equipment market and its ecosystem.

Impact of COVID-19 Pandemic on Connected Gym Equipment Market

According to the latest reports, the US, India, Brazil, France, Turkey, Russia, the UK, Italy, Spain, and Germany are among the worst affected countries by the COVID-19 pandemic. The COVID-19 pandemic has affected the industrial sector worldwide. The global economy took the worst hit in 2020, and this may even continue in 2021. This situation has created noticeable disturbances in the business of gyms, health and fitness clubs, swimming pools, and hotels. A serious decline in the growth rate of mentioned businesses is affecting the growth of the globally connected gym equipment market as they use these products to a larger extent.

Since gyms are categorized under non-essential services, governments have put serious restrictions on them, and they are facing serious issues for almost a year now. The use of connected gym equipment for cardiovascular training and strength training has experienced a sharp decline. Travel bans, factory shutdowns, border lockdowns, and import-export restrictions to combat the outbreak of COVID-19 have impacted the supply, production, and sales of various raw materials that are needed for the manufacturing of the gym equipment. However, as people cannot go to gyms, some of them are preferring to buy residential connected gym equipment for continuing their workout routine.

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.

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.

Interested in purchasing this Report?  Click here @ https://bit.ly/3xtLlkh

Reason to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global Connected Gym Equipment market.

Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.

The key findings and recommendations highlight crucial progressive industry trends in the Connected Gym Equipment market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue. 

Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth at a certain extent.

Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

Thanks for reading this release; you can also customize this report to get select chapters or region-wise coverage with regions such as Asia, North America, and Europe.

Contact US:

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 specialists in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, Chemicals, and Materials.

Our research model is very simple. We believe in client servicing and delivering the 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.

This release was published on openPR.