At 28.1% CAGR, Connected Gym Equipment Market to exceed USD 3.47 billion by 2028, Exclusive Research by The Insight Partners

PUNE, India, Oct. 8, 2021 /PRNewswire/ — According to our new research study on «Connected Gym Equipment Market to 2028…

PUNE, India, Oct. 8, 2021 /PRNewswire/ — According to our new research study on «Connected Gym Equipment Market to 2028 – COVID-19 Impact and Global Analysis and Forecast – by Type, End Users, and Geography,» the market is projected to reach US$ 3,472.69 million by 2028 from US$ 614.17 million in 2021; it is expected to grow at a CAGR of 28.1% during 2021–2028. Earlier, people didn’t require dedicated time for exercise. Their daily routine was enough to burn extra calories. Except a few jobs such as product delivery, nursing, surgery, and farming activities, almost all jobs in today’s time are moving toward sedentary work style. This is happening because automation is taking place in almost every walk of life. These all factors have given a rise to insufficient physical activities among individuals. Insufficient physical activity in daily life is considered as one of the major risk factors for death all over the world. Inadequate physical activity can lead to non-communicable diseases (NCDs), such as cancer, diabetes, and cardiovascular diseases, and unwanted obesity in many people at very young age.

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Report Coverage

Details

Market Size Value in

US$ 5,259.70 Million in 2019

Market Size Value by

US$ 9,055.58 Million by 2027

Growth rate

CAGR of 7.1% from 2021-2028

Forecast Period

2021-2028

Base Year

2021

No. of Pages

145

No. Tables

61

No. of Charts & Figures

71

Historical data available

Yes

Segments covered

Type and End-User

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

So, to manage the health properly, people are getting conscious about indulging in daily physical activities. Gyming helps in reducing body weight, building bones and muscles, increasing energy levels, and improving skin health. Increase in monetary income allows the consumers to spend on gyming. Along with physical health, gyming also improves people’s mental health to a large extent. It helps in improving sleep quality and memory as well as in staying energetic and relaxed. Managing mental health is equally important for performing today’s work life.

Technological Advancement in Connected Gym Equipment to Drive Connected Gym Equipment Market Growth during Forecast Period

It is true that people must manage their health, but they have very limited time to do physical activities and exercises considering their busy schedule. Connected gym equipment helps users save time and do exercise effectively. The Integration of gym equipment with smart devices has made gyming quite easier. Users can just leave for a walk and monitor the distance travelled, number of steps, and time spent for the walk on their smart watch. New Peloton Bike+ and iFit-powered NordicTrack devices are able to adjust users’ resistance and/or speed automatically, so that they don’t need to fiddle with buttons or knobs during the workout session.

Some latest equipment also shows heart rate, so that one can glance at the screen to monitor intensity of their working out. Popular fitness apps, such as Strava and Fitbit, are used for keeping all stats at one place. Smart treadmills allow several types of exercises on a one machine. Such exercises comprise jogging, running, walking, sprinting, and even simulated hiking if one has a machine that can incline. By using high speed internet, users can connect and workout together from different parts of the world at the same time. With smart mirrors for a Yoga classes, one can see the instructor and his/her own reflection in the mirror, thus making it easy to check the postures. All these factors are estimated to boost the growth of the connected gym equipment market during the forecast period.

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Connected Gym Equipment Market: Segmental Overview

Based on type, the connected gym equipment market is segmented into cardiovascular training, strength training, and others. The cardiovascular training segment led the market in 2020. Cardiovascular exercise training focuses on working the lungs, heart, and blood vessels. Users utilize a broad range of connected cardiovascular equipment, such as elliptical, treadmills, upright bikes, arm bikes, alternative motion machines, and rowing machines. They utilize this equipment for improving the health of heart, lowering blood pressure, and losing body weight. Expenditure on the gym equipment is expected to rise considering the increasing concerns regarding cardiovascular disorders in youngsters across the world because of fluctuating climate conditions and busy work life.

Cardio gym equipment contains various programs, features, and settings that are often not utilized effectively. Connected machines help an user achieve the advantages of cardio training programs that can be customized as per an individual’s need. Users can also track their performance and progress by regular cardio tests and make required changes to their routine. Cardiovascular machines and training tools have got tremendous scope considering above mentioned factors, which is expected to boost the growth of the connected gym equipment market for the cardiovascular training segment across the world in the coming years.

Connected Gym Equipment Market: Competition Landscape and Key Developments

EGYM; Life Fitness; LES MILLS INTERNATIONAL LTD; Technogym S.p.A; Precor Incorporated; Cybex International, Inc.; Johnson Health Tech; Draper, Inc.; Nautilus, Inc.; and TRUE Fitness Technology, Inc. are among the key players that were profiled during this market study. The market players are adopting strategies such as product developments, partnerships, mergers and acquisitions, and collaborations for sustaining the competitive edge.  

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