Global Connected Gym Equipment Market By Product (Strength Training, Cardiovascular Training, and Other Products), By Application (Commercial and Household), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032

Report Overview

In 2021, the global Connected Gym Equipment market was valued at US$ 610 million. This market is expected to grow at a CAGR of 30.63% between 2023-2032. These devices enable users to monitor, analyze and track their progress, thus improving their fitness performance. Additionally, platforms that integrate sporting equipment with coaching programs have been in high demand over the years by athletes and sports fans around the globe.

Global Connected Gym Equipment Market Analysis

Product Analysis

The market for globally connected gym equipment was dominated by cardio training tools and machines. They accounted for more than half the total revenue. To lose weight, improve heart health, or lower blood pressure, consumers use a variety of connected cardio devices such as treadmills and ellipticals. The rising concern about cardiovascular diseases among adults worldwide due to hectic lifestyles and changing climate patterns will likely encourage spending on different gym equipment. This will be a major boost for the market.

The many functions and programs that cardio equipment offers are often overlooked. Connected machines give consumers the opportunity to take advantage of numerous cardio training programs. These can be tailored to suit individual needs. Regular cardio tests allow consumers to track their progress and make adjustments to their program.

In the coming years, strength training machines are expected to remain one of the most promising segments. Consumers can access and store data on connected machines using the cloud. They can track and measure weight, set and reps, range, motion, power, energy, and calories expended.

Application Analysis

2021 saw a high share of connected gym equipment in the world, by the commercial segment. This category includes gyms, fitness clubs, studios, hotels, and hospitals. These facilities provide access to many different gym equipments which allows customers to get a complete workout. Many health clubs offer personal trainers that can tailor their training to meet individual needs and help them use all the machine’s features.

There has been a steady increase in the number of health clubs around the globe, which has given this market a major boost. Club owners have made significant investments in connected gym equipment over the past few decades to increase monitoring. The machines can be easily maintained by operators because they are equipped with devices that detect problems and alert technicians.

The household segment will experience the highest growth and is predicted to grow at a 31.4% annual rate between 2023-2032. Consumers are compelled to purchase these connected machines for their homes because of the high cost of memberships at gyms and clubs. The increasing purchasing power of consumers makes it possible to pay for the initial investment. Moreover, these machines at home turn offer greater convenience which has driven increasing numbers of consumers to choose this segment.

Key Market Segments

By Product

• Strength Training
• Cardiovascular Training
• Other Products

By Application

• Commercial
• Household

Market Dynamics

It is possible to connect gym equipment, machines, and devices to the internet. This allows them to access and store data on centralized servers, accessible from anywhere. The popularity of connected gym equipment is due to the high penetration and ownership rate of smartphones and easy access to high-speed internet. This market is also being driven by a surge in fitness apps. Connected equipment is more popular among fitness enthusiasts because they can connect their smartphones or wearables to their machines to track their results. You can even create personalized workout plans that optimize your efficiency.

It is anticipated that connected gym equipment will be widely used in urban and semi-urban areas in emerging economies such as India and China. Fitness products are booming because of rising obesity and other weight-related illnesses.

However, the high price of the connected equipment is likely to limit the growth of this industry. This has led smaller health clubs and other users to buy second-hand products. Technology advancements and increasing competition among players are expected to reduce prices over the next few years, which will increase adoption rates.

Regional Analysis

North America held the largest share of global revenue at 41.6% of the total. The U.S.’s health and fitness industry has experienced significant growth in recent years. According to some reports, the country has the most number of health clubs in the world. This is driving significant demand in the region for connected gym equipment. A number of trends, such as boutique fitness studios or high-value low price (HVLP), have increased the availability of equipment that can be connected to the gym.

Asia Pacific is predicted to experience the fastest growth with a CAGR of 32.2% in 2023-2032. This region is expected to see a rise in health awareness and increased purchasing power, driving demand for connected exercise equipment, in particular in China, India, Japan, and Australia. In this region, there has been a dramatic increase in the number and size of large and small gyms. In response to increasing demand, many facilities, high-end condos, including schools, and offices, have opened gyms and fitness centers.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Life Fitness, eGym GmbH, Les Mills International, and Equinox Fitness are some of the key players in the industry. In order to integrate digital technology into their gym equipment, many companies have invested in R&D for the past several years.

Equinox Fitness revealed its plans to launch connected fitness equipment, which will offer streaming classes. Manufacturers have also placed emphasis on product development, marketing, and promotion. eGym GmbH raised more than US$ 19 million in funding for product development. This funding will allow the company to expand its U.S. operations.

Маrkеt Кеу Рlауеrѕ:

• eGym GmbH
• Les Mills International
• Star Trac UK Ltd.
• Precor Inc.
• Draper Inc.
• Cybex International
• Johnson Health Tech Co. Ltd.
• Equinox FitnessOther Key Players

For the XXXXX Market research study, the following years have been considered to estimate the market size: