Dublin, Sept. 23, 2021 (GLOBE NEWSWIRE) -- The "Global Digitally Connected Gym Equipment Markets 2021-2026" report has been added to ResearchAndMarkets.com's offering.
Global digitally connected gym equipment market is projected to grow substantially in the forecast period, 2022-2026 with an impressive CAGR.
The market growth can be attributed to rising technological advancements in the fitness and gym equipment market. Rapid digitalization of the health and fitness industry along with the increased utilization of smart machines and exercises equipment is aggressively driving the growth of the global digitally connected gym equipment market in the upcoming five years.
Moreover, utilization of these equipment has advantages for the consumers like storage, monitoring, and analysis of their fitness performances and log these details for the future references and thus has influenced consumers to opt for digitally connected gym equipment, thereby supporting the growth of the global digitally connected gym equipment market in the next five years.
Additionally, various platforms that integrate gym equipment and sports equipment along with the training and coaching software is supporting the esteemed growth of the global digitally connected gym equipment market in the future five years of forecast until 2026.
Digitally connected gym equipment is the specific fitness equipment that are incorporated with the technologically advanced artificial intelligence that is often connected to internet thereby allowing the machines to calculate and store various data like calories burned, heart rate, workout functions along with allowing the consumer to monitor their exercising regime on a daily basis.
These digitally connected gym equipment is quite popular among regular health club members and are supported by high penetration and ownership of smartphones and accessibility to high-speed internet.
The global digitally connected gym equipment market segmentation is based on type, end use, distribution channel, competitive landscape, and regional distribution. Based on type, the market is further differentiated into treadmills, exercise bikes, strength training equipment, and others like cross trainers, ellipticals, etc.
Treadmills are anticipated to hold the largest revenue shares of the market and dominate the market segment on the account of rising instances of cardiovascular diseases and rapidly increasing number of consumers buying treadmills for their home gyms.
Strength training equipment is expected to register the fastest growing CAGR rate in the next five years on the account of rapidly increasing sales by the consumers as well as increasing inclination of regular fitness enthusiasts over body building and strength building.
Also, increasing sports events and rising competition is influencing the demands for the strength training equipment thereby aiding the growth of the global digitally connected gym equipment market in the upcoming five years.
Market players are actively involved in the research and technological development in the product developments. The advanced technology has made it possible for the industry to provide excellent services through digitally connected gym equipment. Further advancement would aid the market value and brand establishment in the future five years.
New market players may focus on the research and development to provide options that satisfies the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.
Holding the major shares of the global digitally connected gym equipment market are
KPS Capital Partners (Life Fitness)
Cybex International, Inc
Johnson Health Tech
Treadfit Technologies Pvt Ltd
True Fitness Technology, Inc
Tonal Systems, Inc
Years considered for this report:
Historical Years: 2016 - 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 - 2026
Global Digitally Connected Gym Equipment Market, By Type:
Strength Training Equipment
Global Digitally Connected Gym Equipment Market, By End Use:
Health Club/ Gym
Global Digitally Connected Gym Equipment Market, By Distribution Channel:
Supermarket & Hypermarkets
Global Digitally Connected Gym Equipment Market, By Region:
Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/1mc38l
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