Global digitally connected gym equipment market is projected to accomplish an extraordinary growth in the forecast period, 2022-2026 with an impressive CAGR. The market growth can be attributed to rising technological advancements in the fitness and gym equipment. Rapid digitalization of the health and fitness industry along with the increased utilization of smart machines and exercises equipment is aggressively driving the growth of the global digitally connected gym equipment market in the upcoming five years. Moreover, utilization of these equipment adds the advantages for the consumers like storage, monitoring, and analysis of their fitness performances and log these details for the future references and thus has influenced consumers to opt for digitally connected gym equipment, thereby supporting the growth of the global digitally connected gym equipment market in the next five years. Additionally, various platforms that integrate gym equipment and sports equipment along with the training and coaching software is supporting the esteemed growth of the global digitally connected gym equipment market in the future five years of forecast until 2026. 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.
The global digitally connected gym equipment market segmentation is based on type, end use, distribution channel, competitive landscape, and regional distribution. 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.
Years considered for this report
Historical Years2016 – 2019
Base Year2020
Estimated Year2021
Forecast Period2022 – 2026
Objective of the Study
- To analyze the historical growth of the market size of global digitally connected gym equipment market from 2016 to 2019.
- To estimate and forecast the market size of global digitally connected gym equipment market from 2020 to 2026 and growth rate until 2026.
- To classify and forecast global digitally connected gym equipment market based on type, end use, distribution channel, competitional landscape, and regional distribution.
- To identify dominant region or segment in the global digitally connected gym equipment market.
- To identify drivers and challenges for global digitally connected gym equipment market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global digitally connected gym equipment market.
- To identify and analyze the profile of leading players operating in global digitally connected gym equipment market.
- To identify key sustainable strategies adopted by market players in global digitally connected gym equipment market.
Click here to download the sample
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers, suppliers, and distributors across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufactures which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufactures, distribution channels and presence of all major players across the country.
TechSci Research calculated the market size of global digitally connected gym equipment market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience
- Manufacturers, end users, and other stakeholders
- Distributers and suppliers of products and other stakeholders
- Organizations, forums, and alliances related to digitally connected gym equipment
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
