Connected Gym Equipment Market Overview
Connected Gym Equipment Market Size was valued at USD 0.8 Billion in 2022. The Connected Gym Equipment market is projected to grow from USD 1.1 Billion in 2023 to USD 10.0 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 32.30% during the forecast period (2023 - 2032).
The market for connected gym equipment has experienced significant growth and innovation in recent years. Connected gym equipment Market Trends refers to fitness machines and devices that are equipped with internet connectivity and integrated software, allowing users to track and analyze their workout data in real-time.
This technology has revolutionized the fitness industry by providing users with a more personalized and interactive workout experience. Connected gym equipment enables users to set goals, monitor their progress, and receive feedback on their performance. It also offers access to a wide range of fitness programs, virtual trainers, and social communities, fostering motivation and engagement.
The term "fitness equipment" refers to devices that collect user data through internet connections and centralized servers. Customers can connect the equipment to wearables or smartphone applications to track and continuously monitor their performance. They were also used to develop customized exercise routines in order to maximize their efficiency and improve the user's form. Some of the most often used fitness equipment includes rowing machines, stationary bikes, ellipticals, and treadmills. Dumbbells, bench presses, barbells, and squat racks are a few of the tools utilized in strength training.
The quick digitalization of the health and fitness industry has led to the usage of smart tools and devices for exercise. These gadgets allow users to store, monitor, assess, and monitor their progress, which improves their workout performance. Additionally, over the past few years, there has been a significant increase in demand from athletes and sports enthusiasts around the world for platforms that integrate coaching software with sporting goods.
Competitor Landscape
following companies as the key players in the global Connected Gym Equipment market Players— Brunswick Corporation, Core Health & Fitness LLC, Draper Inc., EGYM, Johnson Health Tech Co. Ltd., Les Mills International Ltd., Nautilus Inc., Paradigm Health & Wellness, Precor Incorporated (Peloton Interactive Inc.), Technogym S.p.A and TRUE Fitness Technology Inc.
Segment Analysis
The global Connected gym equipment Market Share has been segmented based on equipment type, connectivity type, distribution channel and end user.
On the basis of equipment type, the market is segmented into cardiovascular training equipment, strength training equipment, and others. The cardiovascular training equipment segment was attributed to holding the largest market share in 2022.
Based on connectivity type, the global Connected Gym Equipment market has been segmented into Bluetooth, Wi-Fi, Ethernet, RFID/NFC, Others. The Bluetooth segment was expected to hold the largest market share in 2022.
Based on distribution channel, the global Connected Gym Equipment market has been segmented into Online, Offline. The Offline segment was expected to hold the largest market share in 2023.
Based on end users, the global Connected Gym Equipment market has been segmented into Residential, Gyms and Health Clubs, Commercial. The Gyms segment was expected to hold the largest market share in 2022.
Regional Analysis
The global Connected Gym Equipment market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Connected Gym Equipment market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Connected Gym Equipment market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Connected Gym Equipment market comprises of Middle East, Africa, and Latin America.
The largest market share for Connected Gym Equipment was maintained by the North American regional sector. The degree of consumer product knowledge, the desire to purchase cutting-edge connected equipment, retailer penetration, and product price are all important factors in the growth of the connected gym equipment market in this region.
Moreover, the Europe market has been persistently growing over the forecast period. Due to increased health awareness income, the market in the area is anticipated to grow. Offices, hotels, colleges, and upscale condominiums all offer gym facilities in response to the rising client demand for them. It is anticipated that a significant market share will come from Germany, the U.K., Spain, and Italy.
Additionally, over the forecast period, the market for connected gym equipment in Asia Pacific is anticipated to grow at the fastest rate. Rising health awareness and consumer buying power are predicted to fuel this industry, notably in China, Japan, India, and Australia.
Furthermore, the rest of the world's Connected Gym Equipment market is divided into the Middle East, Africa, and Latin America. The connected gym equipment market in Latin America and the Middle East & Africa (MEA) is expected to grow significantly in the coming years. The market is driven by factors such as increasing awareness about fitness and health, growing demand for technologically advanced gym equipment, and the rising popularity of wearable fitness devices.
Key Findings of the Study
The global Connected Gym Equipment market is expected to reach USD 9.9 billion by 2032, at a CAGR of 32.30% during the forecast period.
The Asia Pacific region accounted for the fastest-growing global market due to degree of consumer product knowledge, the desire to purchase cutting-edge connected equipment, retailer penetration, and product price.
Based on equipment type, the cardiovascular training equipment segment was attributed to holding the largest market in 2022, with an approximate market share of 45.24%.
Brunswick Corporation, Core Health & Fitness LLC, Draper Inc., EGYM, Johnson Health Tech Co. Ltd., Les Mills International Ltd., Nautilus Inc., Paradigm Health & Wellness, Precor Incorporated (Peloton Interactive Inc.), Technogym S.p.A and TRUE Fitness Technology Inc.
Connected Gym Equipment Market Research Report Information By Equipment Type (Cardiovascular Training Equipment, Strength Training Equipment, and Others), By Connectivity Type (Bluetooth, Wi-Fi, Ethernet, RFID/NFC, and Others), By Distribution Channel (Online and Offline), By End User (Residential, Gyms and Health Clubs, and Commercial), and By Region (North America, Europe, Asia-Pacific, and Rest of The World) – Market Forecast Till 2032
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