Business & FinanceSci-TechUncategorized

Connected Gym Equipment Market Bolstering With Great Speed To Reach to Reach $1,048 Million by 2023

Press Release

According to a new report published by Allied Market Research, titled, Connected Gym Equipment Market by Product and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023, the connected gym equipment market size was valued at $159 million in 2016, and is projected to reach $1,048 million by 2023, growing at a CAGR of 31.1% from 2017 to 2023. Cardiovascular training equipment in the global connected gym equipment market possesses a strong customer base. Demand for cardio equipment equipped with CSAFE connectivity, and compatibility with smartphones, iPod, and iPad is relatively much higher in the developed countries including the U.S., UK, and others. In addition, treadmills and stationary bicycles account for the most widely used type of cardiovascular equipment for weight management and overall body fitness.

Improvement in economic condition and growing health concerns are the two key factors that propel the growth of the connected gym equipment market. The growing health awareness and need for an active lifestyle worldwide is a key driver for the growth of the connected gym equipment market. Sedentary lifestyle, changing eating habits have led to various health risks. Therefore, increase in awareness regarding regular physical activity along with good habits to stay healthy, to maintain a youthful appearance, and to reduce healthcare expenditure have raised the demand for smart gym equipment at residential and commercial spaces.

Connected Gym Equipment Market

Increased adoption of smartphones, rise in health awareness, increase in obese population, and rapid growth in health clubs and gymnasiums drive the growth of the connected gym equipment market. In addition, increased disposable income across developing nations, such as Asia-Pacific and LAMEA is anticipated to create lucrative opportunities for the global connected gym equipment market. However, high cost of connected gym equipment hampers the connected gym equipment market growth.

Asia-Pacific has emerged as one of the largest growing markets in the global connected gym equipment market. Improvement in economic conditions in the region along with growth in disposable income are the key drivers of the market. Economic growth in several countries in LAMEA boosts the market growth. In addition, an increase in the number of millennial is projected to drive the growth of the market. Therefore, the untapped regions in Asia-Pacific and LAMEA possess huge growth prospects in the coming years.

Download the sample copy @ https://www.alliedmarketresearch.com/request-sample/4296

Health clubs or gyms generated the maximum revenue in 2016. Increase in the number of health clubs and gyms significantly drive the world connected gym equipment market. Health clubs drive the market for both cardiovascular and strength training exercises. In the U.S., gym membership rates have witnessed decent increase in the recent years owing to increasing incidence of obesity, with 34,460 clubs and 55 million members in 2015. Increasing health awareness among the population has increased the number of gym goers. Increase in per capita income, increasing urbanization rates, and growing youth population in developing economies are expected to offer lucrative opportunities to market players.

The U.S. is the largest market of connected gym equipment globally. The country exhibits the highest penetration of cardiovascular equipment across the world on account of high obesity rates and increased health consciousness. Adoption of cardiovascular equipment with advanced features is higher compared to the western European countries. Moreover, the market exhibits rising demand for technologically advanced, high-end home cardiovascular fitness equipment in the region.

The key players in connected gym equipment industry focus to expand their business operations in the emerging countries by adopting various strategies, such as acquisition and contact/agreement. The major players profiled in this report include eGym, Les Mills International, Life fitness, Precor, Technogym, Draper Inc., IncludeFitness Inc., Paradigm Health & Wellness Inc., Johnson Health Tech Co. Ltd., and Nautilus Inc.

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Buy now at 20% discount: https://www.alliedmarketresearch.com/checkout/68602

Related Articles

Close