Advanced technology is driving the growth in Global Digitally connected gym equipment Market in the forecast period, 2022-2026.
According to TechSci Research report, “Global Digitally Connected Gym Equipment Market By Type (Treadmills, Exercise Bikes, Strength Training Equipment, Others (Cross Trainers, ellipticals, etc.)) By End Use (Home, Health Club/ Gym, Office, Hotel and Others) By Distribution Channel (Supermarket & Hypermarkets, Specialty Stores and Online) By Region, Competition Forecast & Opportunities, 2026”, the global digitally connected gym equipment market may potentially project an impressive growth in the forecast period, 2022-2026, with an impressive CAGR on the account of rapidly increasing penetration of technologically advanced gym equipment. Additionally increasing number of health conscious consumers and fitness enthusiasts is driving the growth of the global digitally connected gym equipment market in the upcoming five years. Rapidly increasing digitization of the monitored data like pulse rate, blood pressure, and other parameters while exercising is also substantiating the growth of the global digitally connected gym equipment market in the next five years.
Digitally connected gym equipment is the specific fitness equipment that are incorporated with the technologically advanced artificial intelligence that is often connected to internet thereby allowing the machines to calculate and store various data like calories burned, heart rate, workout functions along with allowing the consumer to monitor their exercising regime on a daily basis. These digitally connected gym equipment is quite popular among regular health club members and are supported by high penetration and ownership of smartphones and accessibility to high-speed internet.
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The global digitally connected gym equipment market segmentation is based on type, end use, distribution channel, competitive landscape, and regional distribution. Based on end use, the market is further bifurcated into home, health club/ gym, office, hotel and others. Health club/ gym are anticipated to hold the largest shares for the maximum end use in the next five years on the account of surging demands from the fitness enthusiastic population. These facilities offer access to a wide variety of gym equipment, giving consumers a complete full-body workout. Most health clubs have personal trainers who can train individuals in accordance with their requirements, while also helping them effectively utilize the various facilities a machine offers.
Based on type, the market is further differentiated into treadmills, exercise bikes, strength training equipment, and others like cross trainers, ellipticals, etc. Treadmills are anticipated to hold the largest revenue shares of the market and dominate the market segment on the account of rising instances of cardiovascular diseases and rapidly increasing number of consumers buying treadmills for their home gyms. Strength training equipment is expected to register the fastest growing CAGR rate in the next five years on the account of rapidly increasing sales by the consumers as well as increasing inclination of regular fitness enthusiasts over body building and strength building. Also, increasing sports events and rising competition is influencing the demands for the strength training equipment thereby aiding the growth of the global digitally connected gym equipment market in the upcoming five years.
Holding the major shares of the global digitally connected gym equipment market are EGYM Inc., KPS Capital Partners (Life Fitness), Technogym S.p.A, Precor Incorporated, Cybex International, Inc, Johnson Health Tech, Nautilus, Inc, Treadfit Technologies Pvt Ltd, TRUE Fitness Technology, Inc, Tonal Systems, Inc., among others. Market players are actively involved in the research and technological development in the product developments. The advanced technology has made it possible for the industry to provide excellent services through digitally connected gym equipment. Further advancement would aid the market value and brand establishment in the future five years. New market players may focus on the research and development to provide options that satisfies the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.
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“Asia Pacific is anticipated to be the most promising region for the future market. Increased research and technological advancement in the countries like China, Japan, India is substantiating the growth claim for the global digitally connected gym equipment market in the next five years. Moreover, rapidly increasing number of market players in the region is also a major factor responsible for the esteemed growth of the market in the upcoming five years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
“Global Digitally Connected Gym Equipment Market By Type (Treadmills, Exercise Bikes, Strength Training Equipment, Others (Cross Trainers, ellipticals, etc.) By End Use (Home, Health Club/ Gym, Office, Hotel and Others) By Distribution Channel (Supermarket & Hypermarkets, Specialty Stores and Online) By Region, Competition Forecast & Opportunities, 2026”, has evaluated the future growth potential of global digitally connected gym equipment and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global digitally connected gym equipment market.
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