BANGALORE, India, August 3, 2022 /PRNewswire/ — Home fitness equipment market is segmented by Type (Cardio Training Equipment, Strength Training Equipment, Other), by Application (Home Consumer, Health Clubs/Gyms, Business User, Other): Opportunity Analysis and Industry Forecast, 2022–2028. is published in Securities Reports under the Physical aptitude Category.
The Home Fitness Equipment market was valued at $3.84 billion in 2021, growing at a CAGR of 5.2% during 2022-2028.
Major factors driving the growth of the Home Fitness Equipment market
Rising health awareness due to the rising prevalence of obesity, the impact of covid 19, and the growing preference for fitness apps will drive the growth of the market during the forecast period.
The growing popularity of digital training solutions and the increasing integration of AI and IoT enabled smart home gym equipment will drive the growth of the market in the coming years.
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TRENDS INFLUENCING THE GROWTH OF THE HOME FITNESS EQUIPMENT MARKET
People now understand the importance of physical activity and exercise to stay fit. Since many work from home, they are drawn to in-home fitness regimens rather than traditional gym membership programs. The market demand for home fitness equipment is expected to increase in the coming years. Several benefits are associated, such as convenience, cost-effectiveness, time management, accessibility, and a better focus on individual needs.
The rapid onset of the pandemic has led to the closure of gyms and fitness clubs around the world. There has been a dramatic shift towards virtual fitness. Video streaming platforms were flooded with tutorials and exercise guides, whether for beginners or experts. Fitness apps saw a huge increase in traffic as people became health conscious. This will have a positive impact on the expansion of the home fitness equipment market. The trend of remote work and home exercise habits induced by covid 19 will continue to live on as many gym members continue to use digital workouts in addition to live workouts after the pandemic.
Fitness apps and smart fitness equipment provide a personalized experience to users from the comfort of their homes. They can track your daily food intake and count calories, helping you monitor all your training and health progress with just one click. Additionally, these apps provide personal health coaches at affordable prices and offer tips and guidelines that help people achieve their own personalized health goals. As a result, the market for home fitness equipment will continue to grow in the coming years. A trainer will educate you on diet and physical activity and you don’t have to travel long hours to get the advice.
Personal technology is penetrating all aspects of users’ lives. As access to high-quality streaming video improves, people are freeing themselves from gym workouts in favor of personalized, on-demand home fitness solutions that let them choose an exercise style and level. of intensity according to the needs of physical conditioning. Modern virtual fitness will bolster the growth prospects of the home fitness equipment market as it offers options for users of all ages and skill levels. On-demand programs are accessible anytime, anywhere and provide a wide range of classes, from yoga to kickboxing to bodybuilding. People don’t get bored as new content is added regularly.
Many companies are introducing smart home gyms that come with weights, storage, and streaming platforms to offer personalized, guided workout sessions. They are embedded with IoT sensors that track many data points during a workout from reps to rest time. The AI algorithm evaluates the information and uses this data to provide accurate fitness guidelines. The demand for home fitness equipment will increase even more in the coming years. Performance tracking allows you to provide accurate training advice, including cardio and strength exercises.
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HOME FITNESS EQUIPMENT MARKET SHARE ANALYSIS
Based on product type, cardio equipment is expected to dominate the home fitness equipment market share due to the growing awareness of maintaining proper cardiovascular health.
Depending on the region, North America it will grow more due to the increase in the obese population and the increase in health awareness among consumers with the rapid adoption of exercises to control weight, increase body resistance and muscular strength.
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key players. main players
- cybex international
- fitness world
- Johnson Health Technology
- nordic track
- Pro forma
- TRUE Fitness
- Vectra Gym
- HOIST Fitness Systems
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- Virtual and online fitness marketplace it is projected to reach $64.57 billion by 2028, from $6,551.9 million in 2021, at a CAGR of 38.2% during 2022-2028.
- Fitness App Marketplace the size was valued at $13.78 billion in 2020 and is projected to reach $120.37 billion by 2030 at a Compound Annual Growth Rate (CAGR) of 24.3% from 2021 to 2030.
- Fitness Tracker Market it is estimated that the size is worth $34.54 billion in 2022 and a readjusted size of $134.32 billion by 2028 with a CAGR of 25.4% during the review period.
- Digital health market is projected to reach the size USD 95430 Million by 2026, from USD 77240 Million in 2020, at a CAGR of 22.4% during 2021-2026.
- Augmented and Virtual Reality in the Health Market is projected to reach the size $4.367 million by 2027, from $962.6 million in 2020, at a Compound Annual Growth Rate (CAGR) of 23.6% during 2021-2027.
- fitness equipment market the size was $11.6 billion in 2020, and it is projected to reach $14.8 billion by 2028, registering a CAGR of 3.3% from 2021 to 2028.
- Digital Fitness Marketplace it is estimated that the size is worth $9,597.7 million in 2022 and a readjusted size of $26.55 billion by 2028 with a CAGR of 18.5% during the review period.
- weight loss market is projected to reach the size USD 274030 Million by 2028, from USD 166990 Million in 2021, at a CAGR of 6.9% during 2022-2028.
- Cardiovascular Devices Market is projected to reach the size $54.14 billion by 2027, from $43.04 billion in 2020, at a CAGR of 3.9% during 2021-2027.
- Heart Rate Monitor Market it is estimated that the size is worth $14.34 billion in 2022 and a readjusted size of $18.88 billion by 2028 with a CAGR of 4.7% during the review period.
- Fitness Equipment Market it is estimated that the size is worth $15.04 billion in 2022 and a readjusted size of $19.75 billion by 2028 with a CAGR of 4.6% during the review period.
- Global Home Fitness Apps Market Size, Status and Forecast 2021-2027
- Global Heart Health Products Market Outlook, Forecast To 2028
- Global Weight Loss Apps Market Outlook, Forecast To 2028
- Global Connected Fitness Equipment Market Outlook 2022
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