Smart Gym Equipment Market To Record an Exponential CAGR By 2020-2030

Smart gym equipment market is gym equipment connected to an app that helps to record physical activity and maintains the overall data about workouts.

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The user can wear a device which is integrated with modern gym equipment while working out, which records and shares all biometric information on a web-based platform.

Major players across the globe are introducing smart gym equipment with advanced technology that help end-users in monitoring the overall workout with the help of advanced gadgets and wireless connectivity. This is likely to drive the demand for smart gym equipment in the coming years.

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Increasing Dependency on Smart Gym Equipment

Rise in fitness consciousness and health awareness, and technology development is expected to significantly drive the smart gym equipment market. Rising disposable income of people coupled with improved lifestyles accelerates the market growth. Increasing health and fitness consciousness along with rising dependency of users on smart devices is likely to drive the growth of the smart gym equipment market. In addition, rising urbanization and popularity of internet based fitness devices is expected to lead to the growth of the smart gym equipment market in the coming years.

Economic Slowdown: A Key Restraint

The outbreak of coronavirus has resulted in economic slowdown in almost all the countries of the globe. The spread of coronavirus has led to lockdown in many countries, thus affecting consumer spending power. The lockdown has resulted in shutdown of major commercial activity, which has resulted in economic slowdown. Declining growth of commercial spaces around the world is expected to act as a restraint to the global smart gym equipment market. However, rising investment in corporate chain gyms is expected to create opportunities for the smart gym equipment market.

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Asia Pacific a Potential Market for Smart Gym Equipment

The global smart gym equipment market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)

North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the smart gym equipment market in Europe includes the U.K., Germany, France, and Rest of Europe. Similarly, the market in Asia Pacific comprises India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes GCC, South Africa, and Rest of Middle East & Africa. The smart gym equipment market in South America has been segmented into Brazil and Rest of South America.

Asia Pacific is expected to remain a potential market for smart gym equipment during the forecast period, owing to rising preference for gym equipment in the residential and commercial sector over the past few years in the region.

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Key Players Operating in the Global Smart Gym Equipment Market

The global smart gym equipment market is fragmented in nature, due to presence of a large number of global and regional players. A few of the key players operating in the global smart gym equipment market are:

eGym
Hammer Strength
IncludeFitness
IRONMAN Fitness and Paradigm Health & Wellness
Johnson Health Tech
Les Mills International
Life Fitness
Nautilus
Precor
Technogym

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