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Smart Fitness Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2023-2026

  • Published: Jan 2022
  • Pages: 120
  • SKU: IRTNTR72241
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The smart fitness market share is expected to increase by USD 34.06 billion from 2021 to 2026, at a CAGR of 13.33%.

This smart fitness 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 smart fitness market segmentation by product (gear, smart bike, ellipticals, treadmill, and others) and geography (North America, Europe, APAC, MEA, and South America). The smart fitness market report also offers information on several market vendors, including Alphabet Inc., Apple Inc., Dyaco International Inc., Fossil Group Inc., Garmin Ltd., Johnson Health Tech, Nautilus Inc., Peloton Interactive Inc., Tunturi New Fitness BV, and Zwift Inc. among others.

What will the Smart Fitness Market Size be During the Forecast Period?

Smart Fitness Market Size

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Smart Fitness Market: Key Drivers and Trends

The increasing focus on fitness and a healthy lifestyle orientation is notably driving the smart fitness market growth, although factors such as lack of data privacy and security may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the smart fitness industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Smart Fitness Market Driver

One of the key factors driving growth in the smart fitness market is the increasing focus on fitness and healthy lifestyle orientation. The rising adoption of a sedentary lifestyle is exposing people to the high risk of developing various health conditions, such as anxiety, obesity, type 2 diabetes, and osteoporosis. The hectic work schedules and increasing health issues have forced people to undertake some form of exercise daily to remain healthy and prevent various health-related issues. Thus, increasing awareness about the importance of a healthy lifestyle has led to a rise in the demand for various fitness activities, including interactive fitness. Interactive fitness activities offer several benefits, such as body coordination and the strengthening of the abdominal muscles. Promotional activities conducted by major vendors operating in the global smart fitness market to generate smart fitness products awareness have played a key role in driving the demand for interactive fitness. The wellness services industry, which also includes fitness services and a healthy lifestyle, has witnessed significant growth in the last five years. It is expected to achieve strong growth during the forecast period, owing to the increasing focus of employees on health and fitness.

Key Smart Fitness Market Challenge

The lack of data privacy and security will be a major challenge for the smart fitness market during the forecast period. Smart wearable devices can cause work interruption for users as they store a huge amount of sensitive information. Smart wearable devices also use GPS navigation systems for receiving location-based information, and at times, individuals have to share their location to get certain information. This information can also be retrieved and used by several advertisers. Security breaches can also occur because of the use of innovative technologies in these devices. The leakage of data stored in the sports wearable devices of renowned sportspersons and athletes can lead to serious security threats. The information about a subscriber's location is owned and controlled by the respective network operators of mobile carriers and mobile content providers. With network operators privy to such information, end-users are concerned about their privacy and security, in spite of the legal framework to protect it.

This smart fitness 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 2022-2026.

Who are the Major Smart Fitness Market Vendors?

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

 

  • Alphabet Inc.
  • Apple Inc.
  • Dyaco International Inc.
  • Fossil Group Inc.
  • Garmin Ltd.
  • Johnson Health Tech
  • Nautilus Inc.
  • Peloton Interactive Inc.
  • Tunturi New Fitness BV
  • Zwift Inc.

 

This statistical study of the smart fitness market encompasses successful business strategies deployed by the key vendors. The smart fitness market is fragmented and the vendors are deploying growth strategies such as increasing their R&D investments to compete in the market.

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 smart fitness 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. 

Which are the Key Regions for Smart Fitness Market?

Smart Fitness Market Market segmentation by region

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31% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for smart fitness in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increasing digitization in the emerging economies will facilitate the smart fitness market growth in APAC over the forecast period. 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.

What are the Revenue-generating Product Segments in the Smart Fitness Market?

Smart Fitness Market Segmentation

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The smart fitness market share growth by the gear segment will be significant during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the smart fitness market size and actionable market insights on post COVID-19 impact on each segment.

 

Smart Fitness Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 13.33%

Market growth 2022-2026

$ 34.06 billion

Market structure

Fragmented

YoY growth (%)

16.23

Regional analysis

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

Performing market contribution

APAC at 31%

Key consumer countries

US, China, Japan, UK, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Alphabet Inc., Apple Inc., Dyaco International Inc., Fossil Group Inc., Garmin Ltd., Johnson Health Tech, Nautilus Inc., Peloton Interactive Inc., Tunturi New Fitness BV, and Zwift 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 the forecast period

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What are the Key Data Covered in this Smart Fitness Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive smart fitness market growth during the next five years
  • Precise estimation of the smart fitness market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the smart fitness 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 smart fitness market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2021
    • Market outlook: Forecast for 2021 - 2026

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Gear - Market size and forecast 2021-2026
    • Smart Bike - Market size and forecast 2021-2026
    • Ellipticals - Market size and forecast 2021-2026
    • Treadmill - Market size and forecast 2021-2026
    • Others - Market size and forecast 2021-2026
    • Market opportunity by Product

    Customer landscape

    • Customer landscape

    Geographic Landscape

    • Geographic segmentation
    • Geographic comparison
    • North America - Market size and forecast 2021-2026
    • Europe - Market size and forecast 2021-2026
    • APAC - Market size and forecast 2021-2026
    • MEA - Market size and forecast 2021-2026
    • South America - Market size and forecast 2021-2026
    • Key leading countries
    • Market opportunity by geography
    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Overview
    • Landscape disruption

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • Alphabet Inc.
    • Apple Inc.
    • Dyaco International Inc.
    • Fossil Group Inc.
    • Garmin Ltd.
    • Johnson Health Tech
    • Nautilus Inc.
    • Peloton Interactive Inc.
    • Tunturi New Fitness BV
    • Zwift Inc.

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • 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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    Smart Fitness market growth will increase by $34068.41 million during 2021-2026.
    The smart fitness market is expected to grow at a CAGR of 13.33% during 2021-2026.
    Technavio has segmented the smart fitness market by product (Gear, Smart Bike, Ellipticals, Treadmill, and Others) and geographic (North America, Europe, APAC, MEA, and South America).
    Apple Inc., Dyaco International Inc., Garmin Ltd., Johnson Health Tech, Life fitness, Nautilus Inc., Peloton Interactive Inc., Tonal Systems Inc., Tunturi New Fitness BV, Zwift Inc. are a few of the key vendors in the smart fitness market.
    APAC will register the highest growth rate of 31.28% among the other regions. Therefore, the smart fitness market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
    The key factors driving the smart fitness market growth are:
    • Increasing focus on fitness and a healthy lifestyle orientation
    The smart fitness market vendors should focus on grabbing business opportunities from the gear 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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    • Data on revenue-generating market segments
    • Details on the market shares of various regions
    • Five-force market analysis

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