Connected gym equipment market size to grow by USD 16,348.77 million: Leisure products industry is the parent market - Technavio

NEW YORK, Dec. 8, 2022 /PRNewswire/ -- The global connected gym equipment market has been categorized as a part of the global leisure products market. The parent market, the global leisure products market, covers a variety of categories, including sports equipment, musical instruments, camping equipment, recreational vehicles, bicycles, toys, and other consumer-oriented games. The growth of this market will be driven by factors such as growing memberships in health and fitness clubs and an increase in awareness about the benefits of a healthy lifestyle.

Technavio has announced its latest market research report titled Global Connected Gym Equipment Market 2023-2027
Technavio has announced its latest market research report titled Global Connected Gym Equipment Market 2023-2027

The connected gym equipment market size is forecasted to grow by USD 16,348.77 million between 2022 and 2027. The market is estimated to grow at a CAGR of 28.15% during the forecast period, according to Technavio. Download a sample

Connected gym equipment market 2023-2027: Scope

The connected gym equipment market report covers the following areas:

Connected gym equipment market 2023-2027: Vendor landscape

The global connected gym equipment market is highly competitive due to the presence of major vendors as well as small players. Vendors are competing to gain market shares based on product differentiation, pricing, product portfolios, and value-added services. Therefore, to survive and succeed in a stiff competitive environment, it becomes imperative for vendors in the market to differentiate their product and service offerings through a clear and unique value proposition. Major players are also focusing on marketing strategies. Promotional activities by suppliers and manufacturers help in boosting sales. Hence, vendors in the market are partnering with various distributors in developing countries.

Blue Goji Corp., Clmbr, Cosco India Ltd., Draper Inc, EGYM Inc., FightCamp, Hydrow, iFIT Health and Fitness, Johnson Health Tech Co. Ltd., Les Mills International Ltd., Life fitness, MYXfitness LLC, Nautilus Inc., Precor Inc., SoulCycle, TECHNOGYM SpA, Tonal Systems Inc., True Fitness Technology Inc., Paradigm Health and Wellness Inc., and Body Solid Inc. are among some of the major market participants.

Connected gym equipment market 2023-2027: Competitive analysis

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, growth in market share, among others. Buy the report

Connected gym equipment market 2023-2027: Segmentation

  • End-user

The residential segment will contribute a significant share to the market's growth during the forecast period. The demand for connected gym equipment in the residential segment is increasing due to the busy schedules of consumers. The primary users of connected gym equipment are affluent consumers.

  • Product

  • Geography

North America is estimated to account for 35% of the market's growth during the forecast period. The US is the key market for the connected gym equipment market in North America. The growing adoption of smartphones and rising internet penetration are driving the demand for connected gym equipment. Hence, the rise in the demand for such equipment will drive the market's growth during the forecast period.

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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

  • Detailed information on factors that will drive the growth of the connected gym equipment market between 2023 and 2027

  • Precise estimation of the size of the connected gym equipment market and its contribution to the parent market

  • Accurate predictions about upcoming trends and changes in consumer behavior

  • Growth of the connected gym equipment market across APAC, North America, Europe, Middle East and Africa, and South America

  • Thorough analysis of the market's competitive landscape and detailed information about vendors

  • Comprehensive analysis of factors that will challenge the growth of connected gym equipment market vendors

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Connected Gym Equipment Market Scope

Report Coverage

Details

Page number

155

Base year

2022

Historical year

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 28.15%

Market growth 2023-2027

USD 16,348.77 million

Market structure

Concentrated

YoY growth 2022-2023 (%)

27.56

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 35%

Key consumer countries

US, China, Japan, UK, and France

Competitive landscape

Leading companies, market positioning of vendors, competitive strategies, and industry risks

Companies profiled

Blue Goji Corp., Clmbr, Cosco India Ltd., Draper Inc, EGYM Inc., FightCamp, Hydrow, iFIT Health and Fitness, Johnson Health Tech Co. Ltd., Les Mills International Ltd., Life fitness, MYXfitness LLC, Nautilus Inc., Precor Inc., SoulCycle, TECHNOGYM SpA, Tonal Systems Inc., True Fitness Technology Inc., Paradigm Health and Wellness Inc., and Body Solid Inc.

Market dynamics

Parent market analysis; market growth inducers and obstacles; fast-growing and slow-growing segment analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of Contents:

1 Executive Summary

  • 1.1 Market overview

2 Market Landscape

  • 2.1 Market ecosystem

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2022

  • 3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

  • 4.1 Global Connected Gym Equipment Market 2023-2027 2017 - 2021

  • 4.2 End-user Segment Analysis 2017 - 2021

  • 4.3 Product Segment Analysis 2017 - 2021

  • 4.4 Geography Segment Analysis 2017 - 2021

  • 4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

  • 5.1 Five forces summary

  • 5.2 Bargaining power of buyers

  • 5.3 Bargaining power of suppliers

  • 5.4 Threat of new entrants

  • 5.5 Threat of substitutes

  • 5.6 Threat of rivalry

  • 5.7 Market condition

6 Market Segmentation by End-user

  • 6.1 Market segments

  • 6.2 Comparison by End-user

  • 6.3 Residential - Market size and forecast 2022-2027

  • 6.4 Commercial - Market size and forecast 2022-2027

  • 6.5 Market opportunity by End-user

7 Market Segmentation by Product

  • 7.1 Market segments

  • 7.2 Comparison by Product

  • 7.3 Cardiovascular training equipment - Market size and forecast 2022-2027

  • 7.4 Strength training equipment - Market size and forecast 2022-2027

  • 7.5 Market opportunity by Product

8 Customer Landscape

  • 8.1 Customer landscape overview

9 Geographic Landscape

  • 9.1 Geographic segmentation

  • 9.2 Geographic comparison

  • 9.3 North America - Market size and forecast 2022-2027

  • 9.4 Europe - Market size and forecast 2022-2027

  • 9.5 APAC - Market size and forecast 2022-2027

  • 9.6 Middle East and Africa - Market size and forecast 2022-2027

  • 9.7 South America - Market size and forecast 2022-2027

  • 9.8 US - Market size and forecast 2022-2027

  • 9.9 China - Market size and forecast 2022-2027

  • 9.10 Japan - Market size and forecast 2022-2027

  • 9.11 UK - Market size and forecast 2022-2027

  • 9.12 France - Market size and forecast 2022-2027

  • 9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

  • 10.1 Market drivers

  • 10.2 Market challenges

  • 10.3 Impact of drivers and challenges

  • 10.4 Market trends

11 Vendor Landscape

  • 11.1 Overview

  • 11.2 Vendor landscape

  • 11.3 Landscape disruption

  • 11.4 Industry risks

12 Vendor Analysis

  • 12.1 Vendors covered

  • 12.2 Market positioning of vendors

  • 12.3 Clmbr

  • 12.4 Cosco India Ltd.

  • 12.5 Draper Inc

  • 12.6 EGYM Inc.

  • 12.7 FightCamp

  • 12.8 Hydrow

  • 12.9 iFIT Health and Fitness

  • 12.10 Johnson Health Tech Co. Ltd.

  • 12.11 Les Mills International Ltd.

  • 12.12 Life fitness

  • 12.13 MYXfitness LLC

  • 12.14 Nautilus Inc.

  • 12.15 Precor Inc.

  • 12.16 TECHNOGYM SpA

  • 12.17 True Fitness Technology Inc.

13 Appendix

  • 13.1 Scope of the report

  • 13.2 Inclusions and exclusions checklist

  • 13.3 Currency conversion rates for US$

  • 13.4 Research methodology

  • 13.5 List of abbreviations

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Global Connected Gym Equipment Market 2023-2027
Global Connected Gym Equipment Market 2023-2027
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