Connected Gym Equipment Market is Slated to Witness Tremendous Revenue Growth of US$ 3,472.69 million by 2028- The Insight Partners

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.

The fitness, sports, and health industry has witnessed great advancement over the past few years in the Middle East region. With 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.

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EGYM; Life Fitness; Les Mills International Ltd; Technogym S.p.A; Precor Incorporated; Cybex International, Inc.; Johnson Health Tech Inc.; 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 global connected gym equipment market and its ecosystem.

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 research on the Connected Gym Equipment market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitor's methodologies. The research also segments the Connected Gym Equipment market on the basis of end user, product type, application, and demography for the forecast period 2021-2028. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.

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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.

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 global connected gym equipment market as they use these products to a larger extent.

This research provides detailed information regarding the major factors influencing the growth of the Connected Gym Equipment Market in Global and Regional Level (drivers, restraints, opportunities, and challenges), forecast of the market size, in terms of value, market share by region and segment; regional market positions; segment and country opportunities for growth; New product developments, strengths and weaknesses, brand portfolio; Marketing and distribution strategies; challenges and threats from current competition and prospects; Key company profiles, SWOT, product portfolio and growth strategies.

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