According to the latest report by IMARC Group, titled “Connected Gym Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global connected gym equipment market reached a value of US$ 734.5 Million in 2022. Connected gym equipment represents various fitness machines and devices that are connected with artificial intelligence (AI) and internet solutions to generate and store user data. It evaluates multiple parameters, such as the number of calories burned and heart rate. Some standard connected gym equipment includes treadmills, stationary bikes, ellipticals, rowing machines, squat racks, bench presses, barbells, mirrors, and dumbbells. These machines can be accessed and controlled through several consumer electronics, such as smartphones and wearable fitness devices. These solutions collect and store data on the centralized cloud server, provide access to live online classes and workshops created by expert trainers, and monitor workout functions allowing consumers to monitor their regular exercising regime. Apart from this, connected gym equipment offers customized workouts for major muscle groups; thus, they are extensively used by individuals to meet their fitness goals.
Global Connected Gym Equipment Market Trends:
The emerging trend of bodybuilding and the rising health and fitness consciousness amongst millennials to prevent various lifestyle diseases and cardiovascular disorders (CVD) are primarily driving the market growth. In line with this, the escalating need for multiple connected cardiovascular devices, such as treadmills, elliptical, arm and upright bikes, and rowing machines, is acting as another growth-inducing factor. Such solutions enable interactions, provide pre-recorded workouts, and enable trainers to track, monitor, and analyze the total weight lifted, number of sets and reps and calories burned, and range of motion. Additionally, the closing of gyms during the COVID-19 pandemic has encouraged the widespread adoption of home fitness equipment across residential sectors, which, in turn, is supporting the market growth. This is further facilitated by the inflating spending capacity of consumers and the escalating need for privacy and convenience. Moreover, the increasing establishment of gyms and health clubs, along with the fuelling proliferation of smartphones and electronic devices with high-speed internet connectivity, are contributing to the market growth. Furthermore, the ongoing launch of several fitness applications and the integration of machine learning (ML) and AI-enabled trainers to provide proper guidance to users are propelling the market growth. Besides this, extensive celebrity endorsements and the extensive product usage to lose weight, lower blood pressure, and improve heart health are positively impacting the market growth. Looking forward, the market value is projected to reach US$ 3,761.9 Million by 2028, expanding at a CAGR of 31.7% during 2023-2028.
- Based on the equipment type, the market is categorized into cardiovascular training equipment, strength training equipment, and others.
- On the basis of the connectivity type, the market has been divided into Bluetooth, wi-fi, ethernet, RFID/NFC, and others.
- Based on the distribution channel, the market has been bifurcated into online and offline.
- On the basis of the end user, the market is segregated into residential, gyms and health clubs, and commercial.
- Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being 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.
|Base Year of the Analysis
||Equipment Type, Connectivity Type, Distribution Channel, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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.
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