Connected Gym Equipment Market Expected to Grow at a CAGR of 27% by 2025 | Cardiovascular Equipment Segment Will Be Important for Revenue Generation | More than 17,000 Technavio reports

NEW YORK, June 21, 2022 /PRNewswire/ — The market share of connected gym equipment is expected to increase by $11.12 billion from 2020 to 2025, and the growth momentum of the market will accelerate at a CAGR of 27%.

Technavio has announced its latest market research report titled Connected Gym Equipment Market by Product, End User, and Geography – Forecast and Analysis 2021-2025

Learn more about the factors influencing the market as you go. Read the sample report

The connected gym equipment market is categorized by Technavio as part of the global leisure products market. The Connected Gym Equipment Market research report provides valuable insights into the post-pandemic impact on the market which will help companies to evaluate their business approaches.

Connected gym equipment Market: Key Drivers

Rising Smartphone Penetration and Growing Demand for Connected Gym Services is Driving the Connected Gym Equipment Market. Smartphone penetration is increasing globally. South Korea, IsraelUnited States, Spain, Canada Great Britain, Australia, Malaysia, Chileand Germany are the top countries with the highest smartphone penetration rates. The increasing speed of the Internet is impacting the distribution and consumption of various online services. With improved networks, coverage and innovative technologies (4G/LTE, 3G or long-term evolution), global data consumption is increasing. The demand for connected fitness products and connected gym equipment is also increasing. Connected fitness is a growing market that starts with physical activity tracking and data collection and displays through wearable devices, mobile apps, and more. Suppliers focus on developing gym equipment that can be connected to an app. For example, in September 2020Peloton has launched two new products named Bike+ and Tread smart home gym equipment.

See the market report insights to learn more about the factors driving the market

Connected gym equipment Market: main challenges

Lack of knowledge of products and technology is expected to be a major barrier to connected gym equipment market during the forecast period. It is difficult for vendors to enter developing markets due to the lack of knowledge about smart products and technology among the population. Sellers need to educate people about the benefits of products in order to penetrate developing markets. Moreover, due to price consciousness in developing countries, individuals tend to compare cost with ordinary products rather than features and benefits. Awareness of connected gym equipment is low in developing economies. The demand for connected gym equipment is high in the developed countries of the Americas and Europe compared to developing economies. Most customers still use traditional gym equipment in developing economies. The price of connected gym equipment is also very high compared to regular gym equipment. Due to low per capita income in developing countries, individuals are spending less on connected gym equipment, which is priced higher.

Product information and news

The Connected Gym Equipment Market forecast report offers in-depth information about key vendor profiles. The profiles include production, sustainability and outlook information from key companies. For example, Cybex International Inc., a leading supplier, offers connected gym equipment such as the R-Series Total Body Arc Trainer, an extremely effective and effectiveness backed by exercise science.

Supplier Information

The report identifies the following as the dominant vendors in the market:

Connected Gym Equipment Market Scope

Report cover

Details

Page number

120

base year

2020

Forecast period

2021-2025

Growth momentum and CAGR

Accelerate at a CAGR of 27%

Market Growth 2021-2025

$11.12 billion

Market structure

Fragmented

Annual growth (%)

16.52

Regional analysis

North America, Europe, APAC, MEA and South America

Successful market contribution

Europe at 33%

Main consumer countries

United States, China, Japan, United Kingdom and France

Competitive landscape

Leading Companies, Competitive Strategies, Consumer Engagement Reach

Profiled Key Companies

Cybex International Inc., DJO Global Inc., EGYM Inc., Johnson Health Tech Inc., Life fitness, Nautilus Inc., Precor Inc., SunSai Sports and Fitness, TECHNOGYM Spa and True Fitness Technology Inc.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID 19 Impact and Recovery Analysis and Future Consumer Dynamics, Market Status Analysis for the forecast period

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

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Europe Contribution to Connected gym equipment Market

The emergence of Eastern European countries due to improved living standards and an increase in urbanization is should propel the connected gym equipment market become thin Europe over the forecast period. The region should contribute 33% market growth as countries like the UK and Spain are the main markets for connected gym equipment. Market growth in Europe expected to be lower than market growth in other regions.

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Market segmentation

The connected gym equipment market is split by product into cardiovascular training equipment segment and strength training equipment segment. The cardiovascular training equipment segment is expected to be the major contributor to the market over the forecast period. Cardiovascular training equipment such as cross-trainers and treadmills have a lower lifespan than strength training equipment. As a result, the replacement sales of cardiovascular training equipment are higher than those of strength training equipment. These factors are expected to lead to increased sales of cardiovascular training equipment.

Highlights

  • Market CAGR over the forecast period 2021-2025

  • Comprehensive details of the factors that will challenge the growth of the Connected Gym Equipment Market vendors

  • An in-depth analysis of the market competitive landscape and detailed vendor information

  • Accurate predictions on upcoming trends and changes in consumer behavior

  • In-depth information on factors that will drive the growth of the Connected Gym Equipment Market over the next five years

  • Accurate estimation of the Connected Gym Equipment market size and its contribution to the parent market

  • The growth of the connected gym equipment industry across North America, EuropeAPAC, MEA and South America

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Contents

1. Summary

2 Market landscape

3 Market sizing

4 Five forces analysis

5 Market Segmentation by Product

6 Market Segmentation by End User

7 Customer Landscape

8 Geographic landscape

9 drivers, challenges and trends

10 Supplier Landscape

11 Vendor Analysis

12 Appendix

About Us
Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With more than 500 industry analysts, Technavio’s reporting library and customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base is backed by comprehensive coverage, in-depth research, and Technavio’s actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions in changing market scenarios.

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Technavio (PRNewsfoto/Technavio)

Technavio (PRNewsfoto/Technavio)

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