Global Connected Gym Equipment Market Size, Share & Trends Analysis Report By Type (Cardiovascular Training Equipment, Strength Training Equipment, Others), By Connectivity Type (Bluetooth, Wi-Fi, Ethernet, RFID/NFC, Others), By Distribution Channel (Online, Offline), By End User (Residential, Gyms and Health Clubs, Commercial) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America) - Forecast (2024-2032)

The report offers the value (in USD Billion) for the above segments.

Region: Global | Format: Word, PPT, Excel | Report Status: Published

 

Market Overview:

According to a new report by IMIR Market Research on Global Connected Gym Equipment Market Size was valued at USD 1.06 Billion in 2023. The Connected Gym Equipment market is projected to grow from USD 1.40 Billion in 2024 to USD 13.14 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 32.30% during the forecast period (2024 - 2032).

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Market Dynamics: Market Drivers-

Growing Number of Athletes Competing in Athletic Events

  • The physical activity keep safe and healthy management of nontransferable diseases such as diabetes, cancers and cardiovascular disorders. Besides, it has a very positive impact on the heart, the body and the mind. All people on earth today compete in sports, and the results of these competitions are widely available, whether the contestants are performing at competitions based on functional fitness, or the hard workout results that people get directly from their training efforts. Besides the limitations posed in social distancing, so many companies as well as fitness-oriented organizations such as sports associations and organizations have taken it upon themselves to come up with many outdoor activities and fitness competitions. While men engaged more 20.7%, the percentage of women that participated was 18%. Not only sports and fitness activities were offered, but also promenading and other forms of entertainment. This brought about the surge of demand and market expansion.

The Market is Driven by Rising Health Concerns and Awareness

  • Some of the most significant factors that will probably accelerate the growth of the connected gym equipment market in the anticipated timeframe include the rising prevalence of obesity globally, the increase in gyms and fitness clubs, the quick digitalization of the health and fitness industry, the use of smart machines and devices for exercise, and the rise in applications in urban and semi-urban areas. On the other hand, increasing disposable income, rising health and fitness concerns, increasing numbers of fitness gear innovations, and increasing adoption of cutting-edge technology will contribute by creating enormous opportunities that will lead to the growth of the connected gym equipment market in the aforementioned projected timeframe.
Market Trends-

Rapid Digitization of the Health and Fitness Industry is Driving the Market Growth

  • The two most important factors that accelerate the market's growth are the unstoppable digitalization of the healthcare and fitness sphere around the world and growing obesity problem among people. Furthermore, the diversification of gyms, fitness clubs, and home fitness centres alongside the general public's dispositive for health promotes the growth of the market. There is a widespread use of the smart devices and wearables and the gadgets linked with them by the sports person and athletes for storing, monitoring, and analyzing health information that is geared towards improving their fitness levels. Another strong growth attracting aspect of the product is software coaching solutions based embedded in the sporting gears. Susceptible of be observed: weight lifted, sets and reps operated; range of motion and calories burned. The market is expected to benefit from other elements, for instance, a rise in consumer purchasing power and informational campaign about cardiovascular diseases, which are supposed to increase the market.
  • The building of smart gym market is fostered mainly by the sudden growth in the smartphone users together with the higher demand for such services. The countries throughout the world do embrace the smart phones as a basic necessity of life. Smartphone uses in the world’s top countries are South Korea, Australia, Israel, USA, Spain, UK, Canada, Chile, Malaysia, and Germany. Most essential services, including entertainment platforms are being affected by the absence of high-speed internet. Since networks became more widespread and had better and better coverage while new technologies (3G, 4G/LTE or Long-Term Evolution) were developed, data consumption is growing all over the world.
  • The demand for linked gym equipment and exercise accessories is rising. Connected fitness is a fast growing industry that starts with measuring physical activity and collects information through wearable tech, mobile apps, and other channels. The development of gym equipment that can be connected to an app is the main focus of vendors. Peloton introduced the smart home gym equipment Bike+ and Tread in September 2020. The HD-resolution touchscreen display on Bike+ enables customers to keep track of their exercise routines. These elements will fuel the market's expansion during the prediction period. Thus, driving the Connected Gym Equipment market revenue.
Market Restraining Factors-

Gym Equipment has a High Cost

  • Growth is inhibited by some fitness equipment available at very high prices, especially for middle- and low-income individuals in developing and underdeveloped nations. High-tech fitness gear and fitness wearables have increased in price due to technological advancement. The initial cost of fitness equipment and fitness devices is directly increased by including multiple features, such as high-quality displays, improved power efficiency, tracking of additional vitals, wireless connectivity, and upgraded software. Many other consumers use of wearable technology is raising their spending on fitness-related healthcare. Wearable device demand rises as their application coverage expands, directly contributing to their high price.
Report Coverage:

The report will cover the qualitative and quantitative data on the global Connected Gym Equipment Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

By Type (Cardiovascular Training Equipment, Strength Training Equipment, Others), By Connectivity Type (Bluetooth, Wi-Fi, Ethernet, RFID/NFC, Others), By Distribution Channel (Online, Offline), By End User (Residential, Gyms and Health Clubs, Commercial)

Report Scope and Segmentations:

Study Period

2024-32

Base Year

2023

Estimated Forecast Year

2024-32

Growth Rate

CAGR of 32.30% from 2024 to 2032

Segmentation

By Resin Type, By Technology, By Application, By Region

Unit

USD Billion

By Type

  • Cardiovascular Training Equipment
  • Strength Training Equipment
  • Others

By Connectivity Type

  • Bluetooth
  • Wi-Fi
  • Ethernet
  • RFID/NFC
  • Others

By Distribution Channel

  • Online
  • Offline

By End User

  • Residential
  • Gyms and Health Clubs
  • Commercial

By Region

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, France, UK, Italy, Spain, Russia, Rest of Europe)
  • Asia-Pacific (China, India, Japan, ASEAN, Rest of Asia-Pacific)
  • LAMEA (Latin America, Middle East, Africa)

 

Key Companies in the Connected Gym Equipment market include:
  • 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
  • TRUE Fitness Technology Inc.
  • Life Fitness
  • iFIT Inc.
  • Nortus Fitness
  • Into Wellness
  • Escape Fitness
  • Watson GYM Equipment
  • BEAVERFIT LIMITED
  • Steelflex Fitness
Key Industry Developments:

In April 2022, Core Health & Fitness LLC (“Core”), a portfolio company of US-based private equity firm Gainline Capital Partners LP (“Gainline”), announced that it has acquired Wexer Holding LLC (“Wexer”), a leader in digital health and fitness offerings. Financial terms of the transaction are private.

In October 2020, Frank Trulaske, CEO of TRUE Fitness Technology, Inc. (TRUE), a global provider of premium fitness equipment, announced today that TRUE has acquired Octane Fitness from Nautilus, Inc.

Market Segmentation Analysis:

Connected Gym Equipment: Equipment Type Outlook

  • Cardiovascular Training Equipment
  • Strength Training Equipment
  • Others

Connected Gym Equipment Connectivity Type Outlook

  • Bluetooth
  • Wi-Fi
  • Ethernet
  • RFID/NFC
  • Others

Connected Gym Equipment Distribution Channel Outlook

  • Online
  • Offline

Connected Gym Equipment End User Outlook

  • Residential
  • Gyms and Health Clubs
  • Commercial
Market Segment Insights:

The market scope is segmented because of by Type, by Connectivity Type, by Distribution Channel, by End User.

By Type

Based on the Type of the market is segmented into Cardiovascular Training Equipment, Strength Training Equipment, Others.

The Connected Gym Equipment Market, which can be segmented into Category, features cardiovascular training equipment, strength training equipment, and others. In 2022, cardiovascular training equipment share was found to be the biggest, however, the share of cardiovascular training equipment only made up more than half of the revenue. As a result of people have hectic life and the changes in climatic we can expect the increase in adult people and cardiovascular illnesses. Such tendency should be thought about very carefully because it will definitely result in expensive purchases of a wide range of workout gear. That will add up to produce a new high demand of connected home gym equipment.

By Connectivity Type

Based on the Connectivity Type of the market is segmented into Bluetooth, Wi-Fi, Ethernet, RFID/NFC, Others.

The Connected Gym Equipment Market segmentation, based on Connectivity Type, includes bluetooth, Wi-Fi, ethernet, RFID/NFC, and others. In 2022, the market was dominated by the bluetooth sub-segment, which also captured the greatest revenue share. This is due to the development of Bluetooth technology and the increasing use of Bluetooth in gym equipment.

By Distribution Channel

Based on the Distribution Channel of the market is segmented into Online, Offline.

The Connected Gym Equipment Market segmentation, based on Distribution Channel, includes online and offline. In 2022, the offline sub-segment controlled the market and accounted for the greatest share of the connected gym equipment market worldwide. This is primarily because having a variety of brands available in one location in an offline store gives customers a sense of security and brand confidence.

By End User

Based on the End User of the market is segmented into Residential, Gyms and Health Clubs, Commercial.

The Connected Gym Equipment Market segmentation, based on End User, includes residential, gyms and health clubs, and commercial. In 2022, the commercial sector accounted for the greatest proportion of the market for connected gym equipment globally. Major key  users in this market include health clubs, hospitals, and hotels, which need a wide range of gym equipment to accommodate a large number of customers. Globally, the number of health clubs has been continually growing, which has significantly boosted this market. For instance, according to the International Health, Racquet & Sports-club Association's (IHRSA) 2018 global report, the organization served more than 183 million members at 210,000 clubs worldwide.

Regional Snapshots:

The U.S. dominates the North America connected gym equipment market due to the increasing growth of the health and fitness industry in the region. Additionally, there is increasing investment in Research and development and its latest advanced technology and inventions in fitness equipment.

Asia-Pacific region is expected to hold the most significant growth rate due to the increasing number of large fitness clubs in the region. Additionally, China dominates in Asia-Pacific due to advancements in technology in fitness equipment’s and the availability of fitness clubs and gyms.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Market Report is also available for below Regions and Country Please Ask for that

North America

  • U.S.
  • Canada

Europe

  • Switzerland
  • Belgium
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Sweden
  • Netherland
  • Turkey
  • Rest of Europe

Asia-Pacific

  • India
  • Australia
  • Philippines
  • Singapore
  • South Korea
  • Japan
  • China
  • Malaysia
  • Thailand
  • Indonesia
  • Rest Of APAC

Latin America

  • Mexico
  • Argentina
  • Peru
  • Colombia
  • Brazil
  • Rest of South America

Middle East and Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest Of MEA
Points Covered in the Report:
  • The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
  • The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
  • The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
  • Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
  • The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Key Questions:
  • How much the global Connected Gym Equipment Market valued?
  • Which region has the largest share in 2024 for the global Connected Gym Equipment Market?
  • What are the driving factors for the market?
  • Which is the leading segment in the global market?
  • What are the major players in the market?
Research Scope of the Market:
  • Historic year: 2019-2022
  • Base year: 2023
  • Forecast: 2024 to 2032
  • Representation of Market revenue in USD Million
  • PUBLISHED ON : May, 16-May-2024
  • BASE YEAR : 2023
  • STUDY PERIOD : 2020-2032
  • COMPANIES COVERED : 20
  • COUNTRIES COVERED : 25
  • NO OF PAGES : 380

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