Market Introduction
In North America, advanced technology is going to support the adoption of digitally connected gym equipment to a large extent. United States and Canada together have the largest number of fitness clubs in the world (approximately 35,000–38,000). The craze for connected fitness experience is increasing especially in youngsters and many companies are incorporating digital technologies in their machines. Developments in technologies, such as AI, cloud and wearable technology are expected to increase the implementation of modern exercise techniques which provide immersive workout experiences. In October 2019, a digital platform JRNY was launched by Nautilus which uses AI for offering customized workouts. The equipment adjusts automatically according to the user. There has been a strong demand for robust strength training equipment for enhanced joint flexibility and bone health. For better health, the American Heart Association has recommended strength training at least twice a week. In March 2018, Matrix Fitness introduced a training console which offered guided training experience for its users. It also facilitated strength training for beginners. Rising health concerns and growing technological advancement in connected gym equipment are the major factor driving the growth of the North America connected gym equipment market.
In case of COVID-19, North America is highly affected specially the US, with several thousands of infected people facing critical health problems across the entire country. Rising number of corona cases had also compelled the government to impose lockdown across the borders of the nation. Since gyms are closed, professional trainers, gym owners, and supporting staff are facing serious troubles. Owners are finding it difficult to pay rents, bank loans, salaries of employees and electricity bills. Many boutique gyms operate on small margins and hence this pandemic has posed a big question on their existence itself. The brick-and-mortar gyms in the US constitute the highest share of country’s fitness industry and has suffered the most. Since uncertainty of this virus still prevails, there has been a need for the fitness industry to restructure itself in accordance with changing times. Many have already started going creative and digital with online streaming of sessions for their users from various locations. Despite all these, there was sever impact on the growth of the connected gym equipment market in this region.
Market Overview and Dynamics
The North America connected gym equipment market is expected to grow from US$ 216.89 million in 2021 to US$ 1,084.17 million by 2028; it is estimated to grow at a CAGR of 25.8% from 2021 to 2028. Increasing demand for residential connected gym equipment is expected to escalate the market growth. Considering not only the pandemic of COVID-19, otherwise also, people have got different timing schedules according to their professions. General timings in gyms and health club may not be suitable for very customer. Also, the user’s timing and trainer’s timing should match for the workout session. There lies a great opportunity in designing and manufacturing affordable connected gym equipment for residential use as users are inclining towards privacy and convenience. Demand for smart fitness equipment is increasing across North American countries. Also, disposable house-hold incoming is increasing noticeably in many North American countries. Considering buying capacity and space available at home, manufacturers have also got an opportunity for customization of smart equipment and machines. Doing this will significantly increase the demand for mid-price segment connect gym equipment. With the use of advanced technology, various new smart fitness equipment can be introduced which provides treatment for various diseases and disorder other than cardiovascular training and strength training. Doctors, physicians, and tech-experts can work together for developing such products. With research and development, companies can identify new needs and wants of the customers, which will create a significant opportunity for launching new products that will cater to several different applications, thereby driving the North America market.
Key Market Segments
In terms of type, the cardiovascular training segment accounted for the largest share of the North America connected gym equipment market in 2020. In terms of end-users, the gym segment held a larger market share of the North America connected gym equipment market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the North America connected gym equipment market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Cybex International, Inc.; Draper, Inc.; EGYM; Johnson Health Tech; LES MILLS INTERNATIONAL LTD; Life Fitness; Nautilus, Inc.; Precor Incorporated; Technogym S.p.A; and TRUE Fitness Technology, Inc.
Reasons to buy report
North America Connected Gym Equipment Market Segmentation
North America Connected Gym Equipment Market - By Type
North America Connected Gym Equipment Market - By End-Users
North America Connected Gym Equipment Market - By Country
North America Connected Gym Equipment Market - Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 216.89 Million |
| Market Size by 2028 | US$ 1,084.17 Million |
| CAGR (2021 - 2028) | 25.8% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Connected Gym Equipment Market is valued at US$ 216.89 Million in 2021, it is projected to reach US$ 1,084.17 Million by 2028.
As per our report North America Connected Gym Equipment Market, the market size is valued at US$ 216.89 Million in 2021, projecting it to reach US$ 1,084.17 Million by 2028. This translates to a CAGR of approximately 25.8% during the forecast period.
The North America Connected Gym Equipment 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 North America Connected Gym Equipment Market report:
The North America Connected Gym Equipment Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Connected Gym Equipment Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Connected Gym Equipment Market value chain can benefit from the information contained in a comprehensive market report.
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