Connected Gym Equipment Market Analysis

Global Connected Gym Equipment Market Overview

Connected Gym Equipment Market Size was valued at USD 0.8 Billion in 2023. The Connected Gym Equipment Industry is projected to grow from USD 1.1 Billion in 2023 to USD 10.0 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 32.30% during the forecast period (2024 - 2032). The health and fitness business is rapidly digitizing, and people are becoming more and more health conscious, are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Connected Gym Equipment Market Trends

• Rapid digitization of the health and fitness industry is driving the market growth

One of the main reasons influencing the market's growth is the rapid digitization of the health and fitness sector around the world. Additionally, the expansion of gyms, fitness clubs, and home fitness centers, as well as the general increase in health consciousness, are all contributing to the market's expansion. Smart wearables and linked gadgets are commonly used by sports enthusiasts and athletes to store, monitor, and analyze health information for improving their fitness levels. Another growth-promoting element is the incorporation of software-based coaching solutions in sporting goods. Weight lifted, sets and reps performed, range of motion, and calories expended may all be tracked and monitored by the connected machines. It is projected that additional factors, such as expanding consumer spending power and public awareness over cardiovascular diseases, will propel the market toward expansion.

The market for connected gym equipment is developing primarily due to rising smartphone adoption and rising demand for linked gym services. The global adoption of smartphones is rising. The top countries with the highest smartphone penetration rates are South Korea, Australia, Israel, the United States, Spain, the United Kingdom, Canada, Chile, Malaysia, and Germany. The distribution and use of many online services are being impacted by the faster internet. Data consumption is rising globally due to expanded networks, better coverage, and cutting-edge technologies (3G, 4G/LTE, or Long-Term Evolution).

The demand for linked gym equipment and exercise accessories is rising. Connected fitness is a quickly growing industry that starts with measuring physical activity and collects information through wearable tech, mobile apps, and other channels. The development of gym equipment that can be connected to an app is the main focus of vendors. Peloton introduced the smart home gym equipment Bike+ and Tread in September 2020. The HD-resolution touchscreen display on Bike+ enables customers to keep track of their exercise routines. These elements will fuel the market's expansion during the prediction period. Thus, driving the Connected Gym Equipment market revenue.

Connected Gym Equipment Market Segment Insights

Connected Gym Equipment: Equipment Type Insights

The Connected Gym Equipment Market segmentation, based on Equipment Type, includes cardiovascular training equipment, strength training equipment, and others. In 2022, the global market was dominated by cardiovascular training equipment, which accounted for more than half of the revenue. Due to busy lives and shifting climatic trends, there are predicted to be greater global worries about cardiovascular illnesses among adults. This will likely lead to increased spending on various pieces of exercise equipment. This will significantly increase demand for connected gym equipment.

Connected Gym Equipment Connectivity Type Insights

The Connected Gym Equipment Market segmentation, based on Connectivity Type, includes bluetooth, Wi-Fi, ethernet, RFID/NFC, and others. In 2022, the market was dominated by the bluetooth sub-segment, which also captured the greatest revenue share. This is due to the development of Bluetooth technology and the increasing use of Bluetooth in gym equipment.

Connected Gym Equipment Distribution Channel Insights

The Connected Gym Equipment Market segmentation, based on Distribution Channel, includes online and offline. In 2022, the offline sub-segment controlled the market and accounted for the greatest share of the connected gym equipment market worldwide. This is primarily because having a variety of brands available in one location in an offline store gives customers a sense of security and brand confidence.

Connected Gym Equipment End User Insights

The Connected Gym Equipment Market segmentation, based on End User, includes residential, gyms and health clubs, and commercial. In 2022, the commercial sector accounted for the greatest proportion of the market for connected gym equipment globally. Key users in this market include health clubs, hospitals, and hotels, which need a wide range of gym equipment to accommodate a big number of customers. Globally, the number of health clubs has been continually growing, which has significantly boosted this market. For instance, according to the International Health, Racquet & Sportsclub Association's (IHRSA) 2018 global report, the organization served more than 183 million members at 210,000 clubs worldwide.

Figure 1: Connected Gym Equipment Market, by End User, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Connected Gym Equipment Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America Connected Gym Equipment market dominated the Connected Gym Equipment Market in 2022 and accounted for largest market share. The level of consumer product awareness, desire to invest in cutting-edge connected equipment, retailer penetration, and product price all play a vital role in the development of the connected gym equipment market in this region. Further, the U.S. Connected Gym Equipment market held the largest market share, and the Canada Connected Gym Equipment market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: CONNECTED GYM EQUIPMENT MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The European Connected Gym Equipment market is expected to witness a decent growth rate during the forecast period. The market in the region is expected to increase as a result of rising health awareness income. Due to the increased demand for gym facilities from customers, offices, hotels, schools, and high-end condominiums are providing gym facilities. Germany, the U.K., Spain, and Italy are predicted to contribute a sizable market share. Further, the German Connected Gym Equipment market held the largest market share, and the U.K Connected Gym Equipment market was the fastest growing market in the European region.

Asia Pacific Connected Gym Equipment market is projected to exhibit the fastest growth over the forecast period. The market in this area, particularly in China, Japan, India, and Australia, is expected to be driven by rising health awareness and rising consumer spending power. Large fitness clubs and small to mid-sized gyms have both grown in number in this area during the last few years. Fitness facilities have been installed in a variety of establishments, including hotels, offices, high-end residences, and schools. Further, China’s Connected Gym Equipment market held the largest market share, and the Indian Connected Gym Equipment market was the fastest growing market in the Asia-Pacific region.

Connected Gym Equipment Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their Product lines, which will help the Connected Gym Equipment market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Connected Gym Equipment Industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Connected Gym Equipment Industry to benefit clients and increase the market sector. In recent years, the Connected Gym Equipment Industry has offered some of the most significant advantages to medicine. Major players in the Connected Gym Equipment market, including Brunswick Corporation, Core Health & Fitness LLC, Draper Inc., EGYM, Johnson Health Tech Co. Ltd., Les Mills International Ltd., Nautilus Inc., Paradigm Health & Wellness, Precor Incorporated (Peloton Interactive Inc.), Technogym S.p.A and TRUE Fitness Technology Inc., are attempting to increase market demand by investing in research and development operations.

Nautilus Inc. (Nautilus) is a marketer, developer, and producer of fitness and health products that provides attachments for items for strength and cardio. It distributes its goods through a wide network of independent and niche stores. The company's product line consists of equipment for both cardio and strength training, such as treadmills, ellipticals, exercise bikes, dumbbells, kettlebells, and barbells, as well as accessories, home gyms, weight benches, and dietary supplements. Online retailers include schwinnfitness.com, nautilus.com, bowflex.com, and bowflex.ca. Nautilus, Inc. will introduce the New Bowflex® BXT8J Treadmill with JRNY® Adaptive Fitness App in September 2022.

The Johnson Health Tech Co., Ltd. produces and sells a range of exercise gear for both commercial and residential use. Treadmills, ellipticals, air rowers, recumbents, uprights, and steppers are among the company's offerings. The world over, Johnson Health Tech has distributors. Johnson Health Tech (JHT), a former distributor for JHT, announced in June 2022 that it had acquired the fitness section of Cravatex Brands Limited. As a result, JHT is now the first manufacturer of exercise equipment to have a wholly-owned subsidiary in India.

Key Companies in the Connected Gym Equipment market include

• Brunswick Corporation


• Core Health & Fitness LLC


• Draper Inc.


• EGYM


• Johnson Health Tech Co. Ltd.


• Les Mills International Ltd.


• Nautilus Inc.


• Paradigm Health & Wellness


• Precor Incorporated (Peloton Interactive Inc.)


• Technogym S.p.A


• TRUE Fitness Technology Inc.

Connected Gym Equipment Industry Developments

In November 2023, Life Fitness, the world's leading commercial fitness equipment manufacturer, will introduce a new generation of cardio, strength training, and digital product breakthroughs at the 2024 IHRSA Convention & Trade Show. Life Fitness' most recent developments expand on the company's 55-year tradition as a staple in gyms and fitness centers around the world. Symbio™, the first-of-its-kind ultra-premium cardio line, will debut at IHRSA 2024. The firm announced the four-machine collection.

In 2023, Centr, the health and wellness platform launched by Chris Hemsworth, will launch over 25 new goods, including workout kits and strength training equipment. The items are now available on Walmart.com and at 3,000 Walmart stores across the country. Centr’s equipment offerings include the Centr 1 Home Gym, a new functional fitness cable machine and sleek fitness accessories crafted to complement the home.

January 2020 Apple and Gym engaged into a cooperation. By tying the Apple Watch's activity data to gym reward programs, the partnerships want to improve the connection between the gym experience and the Apple Watch experience.

June 2020For $500 million, the fitness clothing business lululemon athletica purchased the in-home fitness content streaming platform Mirror.

Connected Gym Equipment Market Segmentation

Connected Gym Equipment: Equipment Type Outlook

• Cardiovascular Training Equipment


• Strength Training Equipment


• Others

Connected Gym Equipment Connectivity Type Outlook

• Bluetooth


• Wi-Fi


• Ethernet


• RFID/NFC


• Others

Connected Gym Equipment Distribution Channel Outlook

• Online


• Offline

Connected Gym Equipment End User Outlook

• Residential


• Gyms and Health Clubs


• Commercial

Connected Gym Equipment Regional Outlook

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  North America

  
  
  
  
  • US.
  
  
  • Canada
  
  
  
  


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  Europe

  
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


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  Asia-Pacific

  
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America