Fitness Equipment Market Technologically Advanced and Product Developments Over 2017-2024
The Asia Pacific region is surprisingly touted to be one of the most opportunistic belts for the growth of fitness equipment market. This change of dynamics since the last few years may be attributed to a barrage of determinants, such as the increasing disposable incomes, the subsequent lifestyle changes, increasing purchasing power, and most importantly, the rising number of cardiovascular and other disorders arising due to lack of fitness and a lethargic lifestyle.
In addition to growing health awareness due to fitness drives, the rising spending capacity has also led to consumers willing to expend on luxury goods such as home gym equipment. As per analysts, fitness equipment industry from home gyms is expected to record a CAGR of 5% over 2017-2024.
Request for a sample of this research report @ https://www.fractovia.org/request-sample/381
Technological advancements in countries such as India, Japan, and China have led to an increase in the sales of wearables and connected devices. Fitness monitors, smartphone apps, fitness trackers, etc., to track consumer vitals have depicted a robust increase in demand, pertaining to rising health awareness levels. A research study demonstrates that one in six consumers use wearable technology, thereby stimulating wearable devices market, eventually bring about a renewed traction in fitness equipment industry. Recently, the Chinese consumer electronics giant Xiaomi surpassed Apple and FitBit to become the number one wearable brand. The contribution of tech giants in the development of APAC fitness equipment market thus, cannot be ignored, and what’s more, these behemoths have been constantly combating with one another to come up with upscaled versions of smart fitness products, and have also been making efforts to establish in-house gyms equipped with 24X7 trainer facility, thereby stimulating fitness equipment industry share from office gyms.
Crucial developments demonstrating the grass-root progress in APAC fitness equipment market:
Fitness First, a fairly reputed fitness equipment industry participant, had announced a five-year investment program in 2014, with a target investment of around USD 100 million. By 2018, the firm plans to launch 50 new clubs, and expand its footprints by approx. 60%. Virgin Active, another gym equipment manufacturer, declared its expansion plans in South East Asia fitness equipment market last year, with an initial investment of GBP 150 million. By portraying an exemplary instance of the innovation in APAC fitness equipment industry, UFC Gym launched a novel, state-of-the-art gym in Hanoi, thereby working through its expansion plans in Asia.
India has been touted as one of the most lucrative investment destinations in APAC, for the development of fitness equipment market. The Government of India, for instance, in 2015, had issued orders to establish fitness centers in every department to promote a healthy workplace environment. As per industry analysts, India fitness equipment industry will be extensively driven by the entry of various foreign chains, reduction in import duties, and rising health awareness among Indian consumers.
In an era expounded by sedentary lifestyles but increased consumer awareness subject to health, fitness equipment market seems to have made its mark in more ways than one. Of late, the global populace has been depicting signs of increased lethargy subject to hectic professional lifestyles, which has gradually resulted in a worldwide awareness epiphany, leading to people increasingly pursuing fitness activities. Fitness equipment industry giants have dutifully acknowledged this dynamic shift, and have been working continuously to bring about a plethora of innovative products for the fitness conscious crowd. As is the case with major domains lately, technology has heavily penetrated fitness equipment market. The manufacture of IoT-equipped multi-functional fitness devices is on a rise, pertaining to the fact that every end-use sector now demands a hefty chunk of the technology space. A recent instance demonstrating the infiltration of technology in fitness equipment industry is that of Apple’s announcement to launch Apple Watch-compatible gym equipment by September this year.
Apple, a renowned name in the tech cosmos, recently declared at the Developers Conference WWDC 2017 that it will be forming alliances with numerous fitness equipment market behemoths including the likes of Matrix, Core Health and Fitness, Technogym, and Life Fitness, who, between them, manufacture more than 80% of gym equipment globally. If sources are to be believed, the Apple Watch will be equipped with an NFC chip, which, by means of a simple tap, will open up the communication channels for the gym equipment. In effect, the equipment in motion will be able to communicate with the Watch and inform the device about all the fitness details of the person using the equipment. The Watch enabled equipment may be ready to be shipped and commercialized by September. With this critical initiative, Apple intends to mark its footprints in fitness equipment market, which is anticipated to cross a valuation of USD 14 billion by 2024.
The scope of fitness equipment market is extraordinarily colossal, say experts. This comes as no surprise, given that more and more people are becoming extremely health conscious. In addition, the rising disposable incomes of consumers have led to an increase in their purchase parity as well as living standards, both of which are inherent drivers of fitness equipment industry. It has been observed that this business space has a rather fragmented value chain, given its massive outlook. Invariably, fitness equipment market offers quite a lucrative spectrum of opportunities for manufacturers, component suppliers, distributers, wholesalers, retailers, and resellers, since the business has been gaining renewed prominence pertaining to extensive awareness programs.
Make an inquiry for purchasing this report @ https://www.fractovia.org/request-purchase/381
For example, Xenios Fitness, a minority player in fitness equipment industry, made it to the headlines recently for its offering of effective fitness programs through the online distribution channel, which will make it markedly convenient for its clientele across the globe. This feature will instantly offer personal training programs to clients through the company’s app, and allow them to connect to trainers of their choice.
Companies have also been collaborating with software vendors to provide AI-powered personal assistants to their consumers, for a personalized feel. The number of gyms and fitness centers have been on a consistent incline since the last few years and are expected to depict an exponential graph in the ensuing years as well, thereby providing an impetus to the overall fitness equipment market. Furthermore, it is noteworthy to mention that one of the essential factors driving fitness equipment industry is that of consumer awareness, which is continually being exploited by fitness companies.
Most of the fitness equipment market players and even the regional governments have been collaborating with the local fitness clubs and new entrants to launch fitness drives for generating a sense of awareness regarding the importance of health maintenance. Ireland’s 2016 launch of a ten-year National Physical Activity Plan to promote a healthy lifestyle via fitness training is an instance of the same. Furthermore, these companies also have intensive marketing and promotional tactics on the cards, which will further augment product sale, indirectly spurring fitness equipment industry. The increasing health consciousness among consumers is sure to prompt companies to expand their product portfolios, which will gradually propel fitness equipment market even further, leading this business sphere to register a growth rate of 3% over 2017-2024.
Browse key industry insights spread across 132 pages with 117 market data tables & 24 figures & charts from the report, “Fitness Equipment Market Size By Equipment (Cardiovascular, Strength Training), By End-Use (Home, Health Clubs, Office, Hotel), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, France, Spain, China, India, Japan, South Korea, Australia, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 - 2024” in detail along with the table of contents:
Fractovia.org is one of India's leading in-house and free news portal. It is fully automated, and operates on a constant premise, interfacing with news sites and offering redesigned breaking features to readers across the globe. Our mission is to offer individuals opportunities for connections with news writers and distributors which they can pursue. We operate by mapping articles pertaining to breaking news, constantly and progressively, against a pre-determined word-based theme, offering important connections to readers and clients, as well as distributers.
Corporate Sales, USA
Toll Free: 1-888-689-0688
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Fitness Equipment Market Technologically Advanced and Product Developments Over 2017-2024 here
News-ID: 979728 • Views: 182
More Releases from fractovia.org
Non-alcoholic Beer Market Key Players are Heineken, Suntory, Bernard Family Brew …
Owing to a worldwide escalation in the preference for low liquor content beverages, the non-alcoholic beer market size has proliferated at an outstanding pace over the past decade. This has been complemented with the fact that the disposable incomes among the global middle-class population have shot up which has further provided a commendable boost to the overall non-alcoholic beer industry. The rising consolidation and maturation of this business space can
Food Protein Ingredients Market key players are ADM, Cargill, DuPont, Bunge, Mea …
Food protein ingredients market has lately witnessed a profitable trajectory, pertaining to the changing relationship of consumers with food due to increasing urbanization and greater disposable incomes. Taking the rapidly increasing global populace into consideration, which incidentally according to the UN, will surpass 9.5 billion, it is rather obvious that consumption patterns will undergo an eventual change. With the changes that will follow in the dietary preferences, experts anticipate food
Food Enzymes Market Trends 2018 with Key Players of this Industry are BASF, DSM, …
Danish food enzymes market major Chr. Hansen, has recently announced that it will be expanding its West Allis plant that produces enzymes that are freeze-dried and shipped all over the world. The enzymes go into yogurt, cheese, and other food, as well as in animal feed, baby formula, probiotic supplements, and natural dyes. Allegedly, this latest expansion by Hansen to increase the production capacity and add new capabilities to its
Dental Osseointegration Implants Market Major Key Players are Zimmer Biomet, Str …
Having already experienced monetary returns from a slew of imperative collaborations since the last few years, osseointegration implants market has now observed yet another partnership that would help increase its overall remuneration. The reputed American producer of dental equipment consumables, Dentsply Sirona has recently announced a partnership with Zephyr Sleep Technologies. Request for a sample of this research report @ https://www.fractovia.org/request-sample/642 This alliance has been apparently aimed at generating potentially new
More Releases for India
Medical Tour India | Affordable Treatment In India
We at MedCredible look after the well being of the patients seeking treatment in India. Our support staff support is well trained in handling various situations arising due to cross border differences. All the patients can avail of high-quality treatment at an extremely affordable cost in a compassionate environment combined with ethical practices. With options of over 100 + Hospitals and Institutions, we at Medcredible ensure that we connect the
IVF India, Test Tube baby India
The aim of setting up KJIVF is to help infertile couples in achieving conception through modern diagnostic and treatment methods. KJIVF Centre has given the best results by blessing infertile couples of advanced age with children, these couples could never dream of becoming parents. Thousands of babies are conceived through in-vitro fertilization (IVF) each year; In-Vitro Fertilization (IVF) means fertilization outside the body. A baby developed from an egg that
Beach Holiday India- Best Beaches in India
The natural beauty, exotic locations and rich heritage has helped India to stand as the most visited and most popular tourist spot in the world. The status of “Incredible India”, is defined by an incredible range of nature’s blessings on the Indian subcontinent and this incredibility is doubled by one of the most fabulous tourism option available in the country that are the brilliant and majestic beaches in India.
ISO 27001 India, 27001 training India ISO
Coral eSecure is information Risk Management advisory with specific focus on Information Security (ISO 27001, ISO 17799, PCI, COBIT, HIPAA, GLBA, and DPA), Business Continuity (BS25999) and ITIL/ IT Service Management (ISO 20000). Coral is the FIRST Indian consulting organization which provides an Integrated Management System Consulting, Consisting of ISO 27001, ISO 20000 and BS25999 – ALL THREE IN ONE! Coral provides Consulting, Assurance audit and Training to address these
Interior Designers India, Designers and Architects India
Today, we have recognized ourselves as a booming beauty interior designing firm, offering services that include interior designing. We are a winning firm, which is based on the strong foundation of innovative and original ideas for interior, architectural and landscaping designing services. Synergy Corporate Interior Design Association has more corporate members. Who provide Products and services. We support Interior Designers India, Designers and Architects India. We are committed to the
Domain Registration India, Web Hosting India, Payment Gateway India
Indiainternet.in is a Quality Web Hosting Company India, provide all web related support and Web hosting services like linux web hosting, windows web hosting, web hosting packages, domain registration in india, Corporate email solution, business email hosting, payment gateway integration, SSL with supports like free php, cgi, asp, free msaccess, free cdonts, free webmail, web based control panel, unlimited ftp access, unlimited data transfer. During the domain registration process, you will