What is Smart Gym Equipment Market?
Smart gym equipment is gym equipment that is connected to an app that tracks physical activity and keeps track of total fitness data. While exercising, the user will wear a wearable that is compatible with modern workout equipment and records and shares all biometric data on a web-based platform. Gym equipment devices that are connected to the internet can capture and store data on centralized servers (such as the cloud) that are available from anywhere. Connected gym equipment has gained a lot of popularity among health club members, thanks to high mobile penetration and possession, as well as high-speed internet connectivity. The demand has also been helped by a rise in the number of fitness applications available around the world. Fitness enthusiasts enjoy connected workout equipment because it helps them to monitor their success using their smartphones or wearable devices. It also offers customized interactive workout plans to help them get the most out of their time. The smart gym equipment market is expected to be driven by an increase in fitness consciousness and health literacy, as well as technological advancements. People's disposable income is rising, and their lifestyles are improving, accelerating consumer development. The smart gym equipment market is expected to expand due to growing health and fitness awareness, as well as consumers' increasing reliance on smart devices.
The market study is being classified by Type (Treadmills, Cycling Machines, Rowing Machines and Others), by Application (Commercial and Residential) and major geographies with country level break-up.
Peloton (United States), EGym (United States), Hammer Strength (United States), StairMaster (United states), Johnson Health Tech (United States), Les Mills International (New Zealand), Life Fitness (United States), Nautilus (United States), Precor (United States), Technogym (Italy) and DRAPER (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are IncludeFitness (United States), NordicTrack (United States) and Paradigm Health & Wellness (United States).
The market for Smart Gym Equipment is highly competitive with several global as well as local players in the market. The global players are trying various strategies such as product innovation and using various marketing strategies to gain a higher market share. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Smart Gym Equipment market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Smart Gym Equipment market by Type, Application and Region.
On the basis of geography, the market of Smart Gym Equipment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Urbanization and Changing Lifestyle of People
- Rise in Health Awareness among People of All Age Group
- Increasing Demand for Wearable Technology like Fitness Trackers, HR Monitors, GPS Tracking Devices and Others
- Growing Concerns about Body Image
- Rise In The Cases Of Obesity As Well As Other Chronic Diseases
September 2020 – Peloton launched its new Bike+ Smart home Equipment. The new Peloton Bike+ includes a 23.8″ rotating, HD resolution touchscreen display. It can move 180 degrees in either direction, which is meant to allow at-home exercisers to use the screen (and Peloton’s range of remote workout instruction and classes) while they’re off the bike. There’s also a built-in four-speaker sound system, a one-tap contactless integration with Apple Gymkit that allows you to sync workouts to your Apple Watch and an Auto-Follow resistance system that scales the resistance of the bike depending on your own target metrics for heart rate and breathing. and January 2020 - Technogym SpA joined the Ironman World Championship, Ironman 70.3 World Championship, and Ironman Virtual Racing Series as an official global fitness equipment partner. Athletes can benefit from the company's outstanding indoor training solutions.
Key Target AudienceManufacturers of Smart Gym Equipment, Suppliers of Smart Gym Equipment, Wholesalers, Distributors and Retailers of Smart Gym Equipment, End-User and Governmental Bodies
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