Digitally Connected Gym Equipment Market To Grow With an Impressive CAGR During the Forecast Period
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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