Europe Indoor Cycling Software Market
The Europe indoor cycling software market is expected to grow from US$ 66.75 million in 2021 to US$ 123.24 million by 2028; it is estimated to grow at a CAGR of 9.2% during 2021–2028.
Indoor cycling is a convenient and effective technique to exercise and train at home or gyms and fitness facilities. People are placing a great emphasis on health and fitness due to various issues such as sedentary lifestyles, poor eating habits, high pollution levels, and an increase in the number of lifestyle diseases. Furthermore, global health issues have been exacerbated by the COVID-19 epidemic. As a result of these considerations, the popularity of indoor workout equipment, such as indoor bikes, has skyrocketed. Individuals, athletes, fitness studios, gyms, and other end-users are increasing their need for indoor bikes, trainers, and other associated equipment, which drives the growth of the Europe indoor cycling software market.
Based on session type, the Europe indoor cycling software market is bifurcated into solo and group. Based on application, the Europe indoor cycling software market is bifurcated into professional training and health and fitness. Based on subscription, the Europe indoor cycling software market is bifurcated into monthly subscriptions and annual subscriptions.
Impact of COVID-19 Pandemic on Europe Indoor Cycling Software Market
The COVID-19 pandemic has prompted people across Europe to rethink their behavior while working, interacting with others, and moving. With numerous major countries such as Germany, the UK, and France, Europe is a critical zone for growth. The region offers lucrative opportunities for the growth of the Europe indoor cycling software market due to the widespread usage of innovative technological solutions across numerous sectors. All of these mentioned countries have a considerable number of businesses, particularly in the healthcare and fitness and training industries. A few of the primary factors driving the growth of the indoor cycling software market in Europe are the large presence of businesses using indoor cycling and the high acceptance of such software among professional trainers. Consequently, despite the COVID 19 outbreak, demand for indoor cycling software is expected to increase in the future. Russia, the UK, Spain, Italy, Germany, Turkey, and France are among the major countries affected by the COVID-19 outbreak. To control the spread of the novel coronavirus, governments in several European nations have implemented lockdowns/movement restrictions in various areas for several weeks. However, numerous European major countries are gradually loosening their limitations. Constraints on people's movement and outdoor activities propel the demand for indoor cycling equipment and software across the region, contributing to the growth of Europe indoor cycling software market.
Europe Indoor Cycling Software Market Insights
Surging Adoption of Indoor Cycling Equipment Amid COVID-19
Boost The Demand For Europe Indoor Cycling Software Market
Indoor cycling dominates the fitness sector. Cycling and workout enthusiasts have been the major consumers of the indoor cycling. People prefer this cardio workout as they don't want an expensive cycling studio membership or a high-priced bike to achieve a rigorous workout session. However, due to the shuttering of gyms amid the COVID-19 pandemic, home workout practices have become increasingly popular. Cyclists are also preferring home workouts as alternatives to their typical fitness regimens. As a result, European businesses have seen a significant increase in sales. For instance, Wattbike reported a 110% rise in web sessions in March 2020, along with a 250% increase in sales activity. In April, it recorded a 300% increase in web sessions and a 350% surge in sales activity. Similarly, several businesses leveraged the COVID-19 situation to persuade individuals to stay active while being at home for prolonged periods. After British Cycling, a national governing body, suspended all sanctioned cycling events and imposed restrictions on club riding, RGT Cycling made all its premium features available for free to all indoor bikers from December 2020, which led to a rise in the adoption of indoor cycling equipment in Europe.
Session Type-Based Europe Indoor Cycling Software Market Insights
Based on session type, the Europe indoor cycling software market is bifurcated into solo and group. The market participants are investing heavily in offering integrated indoor cycling experiences to enhance the experience of individual riders in a solo or group sessions. For example, in 2019, Bkool launched an integrated realistic direct drive indoor smart trainer with a flexible stand that allows the rider to swing up to 6° on the bike, thus providing enhanced overall rider experience.Application-Based Europe Indoor Cycling Software Market Insights
Based on application, the Europe indoor cycling software is bifurcated into professional training and health and fitness. The vendors of indoor cycling software are continually upgrading their solutions to deliver via apps and provide an explicit training goal for personalized workout classes. It allows riders to do workouts by subscribing to a training plan tailored to the target events for the rider. The indoor cycling software is majorly adopted by professional trainers and health & fitness centers to conduct group and solo sessions.Subscription -Based Europe Indoor Cycling Software Market Insights
Based on subscription, the Europe indoor cycling software market is bifurcated into monthly subscription and annual subscription. Customer billing offers many benefits on a recurring basis. Therefore, many organizations that used the pay-once, use-for-forever model earlier, now switch to the subscription business model. With a recurring billing model and high revenues and customer lifetime values (CLVs), the business could see substantial and continued growth in the coming years.
Strategic Insights
Players operating in the Europe indoor cycling software market adopt various strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key market players are listed below:
The Europe indoor cycling software market has been segmented as mentioned below:By Session Type
By Application
By Subscription
Company Profiles
Strategic insights for the Europe Indoor Cycling Software provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 66.75 Million |
| Market Size by 2028 | US$ 123.24 Million |
| Global CAGR (2021 - 2028) | 9.2% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Session Type
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Indoor Cycling Software refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The Europe Indoor Cycling Software Market is valued at US$ 66.75 Million in 2021, it is projected to reach US$ 123.24 Million by 2028.
As per our report Europe Indoor Cycling Software Market, the market size is valued at US$ 66.75 Million in 2021, projecting it to reach US$ 123.24 Million by 2028. This translates to a CAGR of approximately 9.2% during the forecast period.
The Europe Indoor Cycling Software Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Indoor Cycling Software Market report:
The Europe Indoor Cycling Software Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Indoor Cycling Software Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Indoor Cycling Software Market value chain can benefit from the information contained in a comprehensive market report.
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