Owing to benefits such as the ability to perform diverse workouts, ideal for home use, safe & easy, DIY trends, ideal attaining fitness goals, customized training plans, options of pre-recorded workouts, easy connectivity to online community enabling interaction and workout with other members, connected gym equipment is experiencing rapid adoption as opposed to traditional equipment, thus fostering progress in the Global Connected Gym Equipment Market
Covid-19 Impact & Market Status
The coronavirus pandemic restricted gym capacity and shut down the gyms entirely. At the time covid-19 has accelerated the virtual fitness classes and emerging trends of home gym for better safety. The people are moving toward maintaining mental and physical health thus pivoted virtual workouts and professional training programs giving rise to Global Connected Gym Equipment Market.
This report studies the economic performance of the global Connected Gym Equipment Market over past few years and examines different aspects of the “keyword” market that are leading to growth of Connected Gym Equipment Market. The research report plays a significant role in presenting crucial insights about the Connected Gym Equipment Market in terms of current market scenarios, impact of Covid-19 on the market, growth constraints, and underlying opportunities.
Connected Fitness Mirror Gym Equipment Type to Emerge as the Most Lucrative Segment
The global connected gym equipment market is classified into the connected treadmill, connected climbing, connected boxing, connected fitness mirror, others based on connected equipment type. Among these, the connected fitness mirror segment is poised to incur the highest revenue streams in global connected gym equipment market owing to several advantages such as options of pre-recorded workouts, easy connectivity to online community enabling interaction and workout with other members.
Cardiovascular Training to Remain Atop
The global connected gym equipment market is classified into strength training, cardiovascular training based on product. Among these, the Cardiovascular Training segment is likely to be the most lucrative in the forecast span owing to factors such as growing trend of home gym, health awareness regarding cardiovascular diseases, wide range of cardiovascular devices becoming available in the global connected gym equipment market such as treadmills, elliptical, arm bikes, and others is attracting more consumers to the Cardiovascular Training segment boosting the global connected gym equipment market.
Home Gym to Ensure Revenue Maximization
The global connected gym equipment market is classified into home gym, commercial gym based on application. Among these, the home gym is expected to record substantial market growth in forecast spans owing to factors like growing home gym trend due to covid-19, better safety and convenience than public gyms. Furthermore, connected gym equipment are ideal for home use, safe & easy, need no professional help, easier for attaining fitness goals, customized training plans, has options of pre-recorded workouts, easy connectivity to online community enabling interaction and enables workout with other members.
North American Region to Render Ample Investment Avenues
The Global Connected Gym Equipment Market, North America is the most mature markets accounting for more than 40% revenue share. The growing health and fitness industry and North American countries like US and Canada having highest number of club memberships and health clubs are boosting the Global Connected Gym Equipment Market. Furthermore, the emergence of budget-friendly fitness clubs and fitness trends with rising cardiovascular diseases and other ailments leading to greater adoption of gym equipment is resulting in remarkable progress of Global Connected Gym Equipment Market.
The need for specialized gyms and fitness studios in todays’ busy lifestyles cutting into the time available for workouts has improved the reliance on connected gym equipment. Interestingly, rapid applications of connected gym equipment in a commercial gym and home gym are fostering remarkable progress in the globally connected gym equipment market.
Advantages such as superlative time-saving capabilities as opposed to traditional gyms, better entertainment options, data-powered improvements from member onboarding to equipment maintenance, capability to deliver more ancillary services, greater efficiency, encourage further adoption of connected gym equipment. These factors collectively influence thumping growth in the global connected gym equipment market, ensuring an overall market size of 3,572.7 million USD by 2028 with an annual growth rate of 7.35% through the forecast span.
Connected gym equipment offers gym experience through live online classes and training programs guided by professional trainers or even doesn’t require a trainer. Smart gym equipment requires a monthly subscription and a powerful internet connection. Owing to multiple advantages like custom workout through AI-enabled connected fitness devices, interactive and engaging experience, no compromise in safety and hygiene, and convenience and immersive experience connected fitness gyms have replaced gyms and boutique fitness studios thereby driving the globally connected gym equipment market.
Factors such as advancements in Artificial Intelligence, social and physical distancing norms due to Covid-19, customized workout trends at home, connected fitness equipment offering informed and effective ways to stay healthy and fit, stay-at-home mandates have brought radical changes that have completely transformed the global connected gym equipment market.
However, significantly high subscription costs, unstable internet connection, lack of guidelines to increase the difficulty or intensity levels, high prices of equipment are some factors affecting the smooth sail in the global connected gym equipment market. Conversely, the products coming up in the market that do not require internet connection or subscription, access to free online classes, revolutionizing smart technology are anticipated to be growth opportunities for the global connected gym equipment market.
The major players in the global connected gym equipment market are EGYM, TRUE Fitness Technology, Nautilus, Draper, Johnson Health Tech, Cybex International, Precor Incorporated, Technogym S.p.A, LES MILLS INTERNATIONAL, and Life Fitness among others. These connected fitness brands offer a wide range of benefits providing consumers a superior user experience. The connected gym equipment suppliers have been aggressive in meeting consumer demands providing smart workout solutions along with entertainment options. This has increased their market performance in the global connected gym equipment market.
Latest Innovations in the Global Connected Gym Equipment Market: a Snapshot
- Recently, Peloton unveiled a fitness training program that connects to TV. Peloton launched a connected strength product called Peloton guide along with its other recent launches of at-home bikes and treadmill machines. The guide will be launched in market across United States and Canada by next year.
- EGYM Munich, Germany, launched its new product “Fitness Hub”, a smart onboarding kiosk and body scanner. The Fitness Hub enables smart and contactless onboarding, visual workout guides, flexibility tests and more.
Connected Gym Equipment Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 3,572.7 million|
|Growth Rate||CAGR of 7.35% during 2021-2028|
|Segment Covered||Connected Equipment Type, Product, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||EGYM, TRUE Fitness Technology, Nautilus, Draper, Johnson Health Tech, Cybex International, Precor Incorporated, Technogym S.p.A, LES MILLS INTERNATIONAL, and Life Fitness among others|
Key Segments of the Global Connected Gym Equipment Market
Connected Equipment Type Overview, 2018-2028 (USD Million)
- Connected treadmill
- Connected climbing
- Connected boxing
- Connected fitness mirror
Product Overview, 2018-2028 (USD Million)
- Strength training
- Cardiovascular training
Application Overview, 2018-2028 (USD Million)
- Home Gym
- Commercial Gym
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa