Global Connected Gym Equipment Market 2017–By Identifying the Key Market Segments Poised for Strong Growth in Future 2024

SUMMARY

WiseGuyReports published new report, titled “Global Connected Gym Equipment Market Outlook”

Market Overview

Gym equipments are getting smarter with the innovation of technology and digitization across the globe. Connected gym equipments are equipped with software and sensors that stores data and monitor every workout session for better results. Moreover, connected gym equipments are capable of measuring improvements and can track physical response to training session such as calories burned, heart rate, activity data and wattage output.
Connected gym equipments also offer capability to track your workout session data on mobile apps. Mobile apps also features training plans, by collecting data from sensors which are implanted in the shoe sole, in functional wears which measures bodily movements and also controls bodily functions. Earlier it was anticipated that no algorithm can successfully replace a well trained trainer but the digital products are getting closer to innovation. Wearable technology is one of the most popular technologies among fitness freaks which include activity trackers, smart watches and smart eye glasses. Connected gym bikes are also the most attractive technology that allows the user to visually target individual muscles and to take complete advantage of limitless settings of the bike.

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Market Segmentation

• By Product Type
o Cardiovascular Training Equipment
 Treadmills
 Elliptical
 Stationary bike
 Rowing machine
 Others

o Strength Training Equipment
 Squat Rack.
 Barbells
 Bench Press.
 Incline bench press
 Dumbbells
 Other
o Other Equipment
• By Distribution Channels
o Offline Channels
o Online Channels

Growth Drivers and Restraints

Growing health awareness and consumers demand for innovative and advance gym equipments led the gym equipment manufacturers to focus more on innovation and implementation of advance technology in their equipments. Rising popularity and sales of smart wearable is setting a new trend in health and fitness industry. According to Goldstein Research, Apple's i-watch is expected to surpass sales of more than 450 million units by 2018. FitBit and Jawbone are some other popular smart wearable devices that can connect to smart gym equipments and provide immediate and accurate results after workout. Bluetooth compatibility of gym equipments allows the users to get connects with equipments for workout tracking, heart rate monitoring and enhanced entertainment. By witnessing the huge demand and popularity for connected gym equipments, major gym equipment manufacturing companies are collaborating with technology companies for developing connected gym equipments. For instance, eGym teamed up with leading fitness software and equipment manufactures for enhanced support. The major suppliers include Fle-xx, MATRIX and InBody. FitBit is one of the apps and test supplier for the company. Innovation and introduction of advance featured equipments are expected to bolster the growth of connected gym equipment market. However, extra-added feature and implementation of advance technology makes the connected gym equipments costly compared to the traditional gym equipments.

Market Size and Forecast

The global connected gym equipment market is accounted for roughly USD 135 million in 2016 and expected to expand at compound annual growth rate of 26.7% over the forecast period i.e. 2016-2024. Further, the market is anticipated to surpass USD 900 million by the end of 2024. The market is expected to grow significantly over the forecast period owing to rising adoption of smart fitness wears.

Geographically, North America is anticipated to dominate the market over the forecast period. The dominance of the region is expected to be driven by the growing adoption of smart wearable technology and rising health awareness among consumers. North America is likely to be followed up by Europe and Asia Pacific owing to huge consumer base and increasing penetration of smart technology and fitness tracking wearable.

Key Market Players

• Brunswick Corporation
o Synopsis
o Business Strategy
o Product Portfolio
o SWOT Analysis
• eGym
• Les Mills International
• Life Fitness
• Precor
• Technogym
• Draper
• Includefitness
• Johnson Health Tech
• Nautilu

..CONTINUED

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This release was published on openPR.