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Connected Gym Equipment Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

  • Published: Jul 2021
  • Pages: 121
  • SKU: IRTNTR44089
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The connected gym equipment market share is expected to increase by USD 11.12 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 27%.

This connected gym equipment market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers connected gym equipment market segmentations by product (cardiovascular training equipment and strength training equipment), end-user (residential users and commercial users), and geography (North America, Europe, APAC, MEA, and South America). The connected gym equipment market report also offers information on several market vendors, including 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. among others.

What will the Connected Gym Equipment Market Size be During the Forecast Period?

Connected Gym Equipment Market Size

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Connected Gym Equipment Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing smartphone penetration and growing demand for connected gym services is notably driving the connected gym equipment market growth, although factors such as lack of awareness on product and technology may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the connected gym equipment industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Connected Gym Equipment Market Driver

One of the key factors driving the connected gym equipment market growth is the increasing smartphone penetration and the growing demand for connected gym services. Smartphone penetration across the globe is growing. South Korea, Australia, Israel, the US, Spain, the UK, Canada, Chile, Malaysia, and Germany are the top countries with the highest smartphone penetration rates. The increasing internet speed is impacting the distribution and consumption of various online services. With improved networks, coverage, and innovative technologies (3G, 4G/LTE, or Long-Term Evolution), data consumption across the world is increasing. The demand for connected fitness products and connected gym equipment is increasing. Connected fitness is a rapidly expanding market that begins with tracking physical activity and collecting data and displays through mobile apps, wearable devices, and more. Vendors are focusing on developing gym equipment that can be connected to an app. In September 2020, Peloton launched two new products named Bike+ and Tread smart home gym equipment. Bike+ is equipped with an HD resolution touchscreen display, which allows users to monitor their fitness activities.

Key Connected Gym Equipment Market Trend

Another key factor driving the connected gym equipment market growth is the compatibility with different mobile operating systems. The growing technology enables people to use their smartphones and tablets to track their fitness activities, such as the number of calories burnt. That is regardless of the brand and operating system of the devices. With the help of smart connected devices, smartphones and tablets can reduce the complexity of managing various devices from different places. Almost all the smart connected apps work on Android and iOS. The connected gym equipment products developed by various vendors in the market are compatible with different mobile operating systems such as Android and iOS. Users can download these apps that connect to the various gym equipment from Android and iOS app stores or from the company websites directly. Connected gym equipment offered by the various vendors in the market is supported by iOS and Android operating systems. These vendors offer Android and iOS apps that can be connected to the gym equipment to track the daily fitness activities of the users.

Key Connected Gym Equipment Market Challenge

Lack of awareness on product and technology is one of the key challenges hindering the connected gym equipment market growth. Vendors find it difficult to penetrate developing markets due to the lack of knowledge about smart products and technology among the population. To penetrate developing markets, vendors need to educate the population on the benefits of products. Additionally, due to the price-consciousness in developing countries, individuals tend to compare the cost with regular products rather than features and benefits. The awareness of connected gym equipment is low in developing economies. The demand for connected gym equipment is high in developed countries in the Americas and Europe when compared to developing economies. In developing economies, most customers still use traditional gym equipment. The price of connected gym equipment is also very high when compared with ordinary gym equipment. Due to the low per-capita income in developing countries, individuals spend less on connected gym equipment, which is priced at a premium rate.

This connected gym equipment market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global connected gym equipment market as a part of the global leisure products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the connected gym equipment market during the forecast period.

Who are the Major Connected Gym Equipment Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

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

 

This statistical study of the connected gym equipment market encompasses successful business strategies deployed by the key vendors. The connected gym equipment market is fragmented and the vendors are deploying growth strategies such as expanding their market through partnerships with various distributors in developing countries to compete in the market.

Product Insights and News

  • Cybex International Inc.- The company offers connected gym equipment such as R series total body arc trainer, a motion cardio unit with extreme efficiency, and effectiveness backed by exercise science

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The connected gym equipment market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Connected Gym Equipment Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the connected gym equipment market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

 

Which are the Key Regions for Connected Gym Equipment Market?

Connected Gym Equipment Market Market segmentation by region

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33% of the market's growth will originate from Europe during the forecast period. UK and France are the key markets for connected gym equipment in Europe. Market growth in this region will be slower than the growth of the market in APAC regions.

Eastern European countries are emerging and will have a huge potential during the forecast period due to the improvements in living standards and an increase in urbanization. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

However, due to the COVID-19 pandemic, all gyms in the UK and several other countries, including France, Denmark, and Germany, were closed in March 2020 to contain the spread of the virus. This led to a decline in the revenue generated by commercial users. However, the governments of different countries have announced a five-step approach to lift the lockdown and open up their countries, with the reopening of gyms planned in the coming weeks. For instance, in Europe, in late April, the Czech Republic was among the first countries to reopen its gyms and clubs. In May 2020, Germany initiated a partial reopening program for sports facilities, including gyms. Such factors would help the growth of the connected gym equipment market in Europe during the forecast period.

What are the Revenue-generating Product Segments in the Connected Gym Equipment Market?

Connected Gym Equipment Market Segmentation

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The connected gym equipment market share growth by the cardiovascular training equipment will be significant during the forecast period. Cardiovascular training equipment like treadmills and cross-trainers have a lower shelf life than strength training equipment. Therefore, the replacement sales of cardiovascular training equipment are higher than that of strength training equipment. This will lead to higher sales of cardiovascular training equipment. 

Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the connected gym equipment market size and actionable market insights on post COVID-19 impact on each segment.

 

Connected Gym Equipment Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 27%

Market growth 2021-2025

$ 11.12 billion

Market structure

Fragmented

YoY growth (%)

16.52

Regional analysis

North America, Europe, APAC, MEA, and South America

Performing market contribution

Europe at 33%

Key consumer countries

US, China, Japan, UK, and France

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

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 inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Connected Gym Equipment Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive connected gym equipment market growth during the next five years
  • Precise estimation of the connected gym equipment market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the connected gym equipment industry across North America, Europe, APAC, MEA, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of connected gym equipment market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value Chain Analysis: Leisure products

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 15: Product - Market share 2020-2025 (%)
    • 5.2 Comparison by Product
      • Exhibit 16: Comparison by Product
    • 5.3 Cardiovascular training equipment - Market size and forecast 2020-2025
      • Exhibit 17: Cardiovascular training equipment - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Cardiovascular training equipment - Year-over-year growth 2020-2025 (%)
    • 5.4 Strength training equipment - Market size and forecast 2020-2025
      • Exhibit 19: Strength training equipment - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Strength training equipment - Year-over-year growth 2020-2025 (%)
    • 5.5 Market opportunity by Product
      • Exhibit 21: Market opportunity by Product

    6 Market Segmentation by End-user

    • 6.1 Market segments
      • Exhibit 22: End-user - Market share 2020-2025 (%)
    • 6.2 Comparison by End-user
      • Exhibit 23: Comparison by End-user
    • 6.3 Residential users - Market size and forecast 2020-2025
      • Exhibit 24: Residential users - Market size and forecast 2020-2025 ($ million)
      • Exhibit 25: Residential users - Year-over-year growth 2020-2025 (%)
    • 6.4 Commercial users - Market size and forecast 2020-2025
      • Exhibit 26: Commercial users - Market size and forecast 2020-2025 ($ million)
      • Exhibit 27: Commercial users - Year-over-year growth 2020-2025 (%)
    • 6.5 Market opportunity by End-user
      • Exhibit 28: Market opportunity by End-user

    7 Customer landscape

    • 7.1 Customer landscape
      • Exhibit 29: Customer landscape

    8 Geographic Landscape

    • 8.1 Geographic segmentation
      • Exhibit 30: Market share by geography 2020-2025 (%)
    • 8.2 Geographic comparison
      • Exhibit 31: Geographic comparison
    • 8.3 North America - Market size and forecast 2020-2025
      • Exhibit 32: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 33: North America - Year-over-year growth 2020-2025 (%)
    • 8.4 Europe - Market size and forecast 2020-2025
      • Exhibit 34: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 35: Europe - Year-over-year growth 2020-2025 (%)
    • 8.5 APAC - Market size and forecast 2020-2025
      • Exhibit 36: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 37: APAC - Year-over-year growth 2020-2025 (%)
    • 8.6 MEA - Market size and forecast 2020-2025
      • Exhibit 38: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 39: MEA - Year-over-year growth 2020-2025 (%)
    • 8.7 South America - Market size and forecast 2020-2025
      • Exhibit 40: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 41: South America - Year-over-year growth 2020-2025 (%)
    • 8.8 Key leading countries
      • Exhibit 42: Key leading countries
    • 8.9 Market opportunity by geography
      • Exhibit 43: Market opportunity by geography ($ million)

    9 Drivers, Challenges, and Trends

    • 9.1 Market drivers
      • 9.2 Market challenges
        • Exhibit 44: Impact of drivers and challenges
      • 9.3 Market trends

        10 Vendor Landscape

        • 10.1 Vendor landscape
          • Exhibit 45: Vendor landscape
        • 10.2 Landscape disruption
          • Exhibit 46: Landscape disruption
          • Exhibit 47: Industry risks
        • 10.3 Competitive Scenario

          11 Vendor Analysis

          • 11.1 Vendors covered
            • Exhibit 48: Vendors covered
          • 11.2 Market positioning of vendors
            • Exhibit 49: Market positioning of vendors
          • 11.3 Cybex International Inc.
            • Exhibit 50: Cybex International Inc. - Overview
            • Exhibit 51: Cybex International Inc. - Product and service
            • Exhibit 52: Cybex International Inc. - Key offerings
          • 11.4 DJO Global Inc.
            • 11.5 EGYM Inc.
              • Exhibit 57: EGYM Inc. - Overview
              • Exhibit 58: EGYM Inc. - Product and service
              • Exhibit 59: EGYM Inc. - Key offerings
            • 11.6 Johnson Health Tech Inc.
              • Exhibit 60: Johnson Health Tech Inc. - Overview
              • Exhibit 61: Johnson Health Tech Inc. - Product and service
              • Exhibit 62: Johnson Health Tech Inc. – Key news
              • Exhibit 63: Johnson Health Tech Inc. - Key offerings
            • 11.7 Life fitness
              • Exhibit 64: Life fitness - Overview
              • Exhibit 65: Life fitness - Product and service
              • Exhibit 66: Life fitness - Key offerings
            • 11.8 Nautilus Inc.
              • Exhibit 67: Nautilus Inc. - Overview
              • Exhibit 68: Nautilus Inc. - Business segments
              • Exhibit 69: Nautilus Inc.– Key news
              • Exhibit 70: Nautilus Inc. - Key offerings
              • Exhibit 71: Nautilus Inc. - Segment focus
            • 11.9 Precor Inc.
              • Exhibit 72: Precor Inc. - Overview
              • Exhibit 73: Precor Inc. - Product and service
              • Exhibit 74: Precor Inc. - Key offerings
            • 11.10 SunSai Sports and Fitness
              • Exhibit 75: SunSai Sports and Fitness - Overview
              • Exhibit 76: SunSai Sports and Fitness - Product and service
              • Exhibit 77: SunSai Sports and Fitness - Key offerings
            • 11.11 TECHNOGYM Spa
              • Exhibit 78: TECHNOGYM Spa - Overview
              • Exhibit 79: TECHNOGYM Spa - Product and service
              • Exhibit 80: TECHNOGYM Spa – Key news
              • Exhibit 81: TECHNOGYM Spa - Key offerings
            • 11.12 True Fitness Technology Inc.
              • Exhibit 82: True Fitness Technology Inc. - Overview
              • Exhibit 83: True Fitness Technology Inc. - Product and service
              • Exhibit 84: True Fitness Technology Inc. - Key offerings

            12 Appendix

            • 12.1 Scope of the report
              • 12.2 Currency conversion rates for US$
                • Exhibit 85: Currency conversion rates for US$
              • 12.3 Research methodology
                • Exhibit 86: Research Methodology
                • Exhibit 87: Validation techniques employed for market sizing
                • Exhibit 88: Information sources
              • 12.4 List of abbreviations
                • Exhibit 89: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Connected Gym Equipment market growth will increase by $7506.88 million during 2019-2024.
              The connected gym equipment market is expected to grow at a CAGR of 22.34% during 2019-2024.
              Technavio has segmented the connected gym equipment market by product (Cardiovascular training equipment and Strength training equipment) ,end user (Residential users and Commercial users) , and geographic (North America, Europe, APAC, MEA, and South America).
              Cybex International Inc., Draper Inc., EGYM Inc., Johnson Health Tech Inc., Les Mills International Ltd., Life fitness, Nautilus Inc., Paradigm Health and Wellness Inc., Precor Inc., TECHNOGYM Spa are a few of the key vendors in the connected gym equipment market.
              Europe will register the highest growth rate of 33.02% among the other regions. Therefore, the connected gym equipment market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the connected gym equipment market growth are:
              • Technological advances in connected gym equipment
              • Collaborations between vendors and other tech companies to integrate smart features into gym equipment
              The connected gym equipment market vendors should focus on grabbing business opportunities from the cardiovascular training equipment segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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