Growing health concerns and rising demand for fitness tracking devices driving the growth of connected gym equipments market.
Connected gym equipments allow the user to monitor the workout session in real time and help to improve the performance and collects workout data. Rising number of fitness enthusiasts are paying attention to the possibility of connecting their smart phones and tablets to the smart gym equipments to track their performance and fitness activity.
Global connected gym equipment market is segmented into product types such as cardiovascular and strength training connected gym equipments. Cardiovascular gym equipments constitute major share in connected gym equipment market owing to its wide adoption in gyms as well as for use in homes. On the other hand, strength training equipments are not much evolved in terms of technology and are expected to grow moderately with innovation of new products.
The global connected gym equipment market accounted for USD 135 million in 2016 and further the market is estimated to surpass USD 900 million by the end of 2024. Global connected gym equipment market is expected to expand at a CAGR of 26.7% over the forecast period i.e. 2016-2024. Geographically, North-America and Europe are showcasing the fastest adoption rate of connected gym equipments. North America is expected to maintain its dominance in global gym equipment market over the forecast period owing to rising number of new start-up gyms and introduction of new connected gym devices by the established player in the region. Asia-Pacific is anticipated to be fastest growing region, owing to rapid urbanization and penetration of advance technology in developing countries.
Growing Demand for Smart Technology: Major Impel
Smart technology enables the gym equipments to fulfill the interests of both gym owners and consumers. Smart gym equipments can be connected to smart phones and tablets, reducing the complexity of managing different gym machines. Smart gym equipments developed by various vendors are compatible to connect with different mobile and wearable tracking devices operating systems such as iOS and Android. Collaboration of different technology based companies with gym equipment manufacturers for the integration of smart feature into gym equipments is driving the growth of global connected gym equipment market.
Global Connected Gym Equipment Market Outlook 2024 contains detailed overview of the global connected gym equipment market in terms of market segmentation by product and distribution channels type.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global Connected Gym Equipment Market report also includes competitive outlook of some of the major players of the global connected gym equipments market which includes profiling of companies such as eGym, Les Mills International, Life Fitness, Precor, Technogym, Draper, Includefitness, Johnson Health Tech, Nautilu etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents comprehensive synopsis on the global connected gym equipments market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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