Market Trend

In contrast to the average year-over-year growth from 2017 to 2019, the global market had a tremendous growth of 25.1% in 2020. The market is anticipated to increase from USD 10.73 billion in 2021 to USD 14.74 billion in 2028, with a CAGR of 4.6% between 2021 and 2028. After the pandemic, demand and growth in this industry will return to their pre-pandemic levels, which explains the sharp decline in CAGR. The need for the product has expanded dramatically as more people become aware of the benefits it can offer in terms of health. Its ability to enhance a particular body part, boost energy and stamina, and allow users to exercise at their own pace has drawn in more clients. As more individuals engage in physical activities that allow them to develop stamina in the comfort of their homes, such as bicycling, running, swimming, and other such pursuits, the demand has grown.

For instance, In 2018, 46.6 percent of individuals in Europe and 57.8 percent of people in North America engaged in physical activity. Fitness tech applications use various technologies, including machine learning and artificial intelligence, to give their consumers customized workout plans. Additionally, they offer specialized health and fitness coaches, equipment-free workout plans, step counters, diet trackers, and customizable diet charts. Due to these services and advantages over brick and mortar retailers, the sector is predicted to have tremendous potential for growth. For instance, by offering its users individualized diet and exercise tracking, MyFitnessPal generated USD 6.7 million in income in June 2020. Additionally, the most well-liked fitness trend in 2019 has remained wearable technology; with 96.0% of users utilizing only one of these programs, health and fitness apps have the greatest overall user retention rates. The activity tracking sector is anticipated to post a sizeable CAGR throughout the projected period. Leading fitness activity tracking businesses include Jawbone, Fitbit, and Nike. These monitoring applications are used by companies like LG, Pebble, Samsung, and others who include activity tracking features in their wearable technology. Customers’ interest in smartwatches is expected to outstrip that of fitness trackers.

On the other hand, fitness trackers have continued to be in great demand over the past several years; according to Fitbit, they are anticipated to increase at the fastest rate during the projection period. Features that enable users to compare their performance with that of other app users, post highlights of their daily activities via Instagram stories, etc., and engage in friendly competition as part of their exercise routine to encourage an active lifestyle, are driving the segment. The market is evolving swiftly due to the industry’s ongoing growth. Modern firms now enjoy a wide range of advantages thanks to technical advancements, resulting in straightforward economic developments. Therefore, a firm needs to comprehend the patterns of market shifts to create more vital strategies. Thanks to a sound system, businesses have the edge over competitors and a head start on planning.

Technology continues to significantly impact practically every part of our life at a seemingly unstoppable rate. They have altered how people converse, look up information, enjoy music, place food orders, and shop. Unsurprisingly, technology is increasingly impacting the fitness sector and how clubs conduct exercise programs. The majority of individuals do not consider gyms to be technological innovators. After all, the commercial aspect of fitness has always seemed to revolve around providing a large room filled with heavy metal equipment where individuals can work out in exchange for a monthly charge. But the fitness sector has managed to suit its client’s changing needs while keeping up with the steady stream of new, creative products and solutions. Members of today’s gyms are always connected, desire simplicity, and demand immediate results. They want to love the exercise experience above everything else. This is a new kind of gym patron, and technology is integral to that person’s quest for fitness. Take the development of wearable fitness technology, like the Apple Watch and Fitbit. Once a fad and a fashion statement, wearables are now widely available.

Gyms must stay up to date with developments in the wearable technology market, leading to better fitness experiences. Exercisers can now receive quantitative results from monitoring their gym activity, letting them know whether or not they are making progress. By designing personalized workout programs for members using this information, gyms can meet the fitness needs of their patrons. Televisions have almost completely taken over gyms, and for a good reason, they keep patrons interested while they exercise. Screens in gyms today serve a more practical purpose, providing gym owners with a platform to engage with their members. The F45 training franchise, a well-known fitness brand in Australia, uses the following strategy. Each fitness studio is outfitted with cutting-edge plasma displays that play exercise demos, regulate the timing of each exercise, and display the heart-rate monitor data of participants wearing F45-specific wearables. Rob Deutsch, the founder of F45, remarked, “These screens are captivating.” “We wanted to use incredibly inventive screens. Without them, the session would be considerably more conventional and resemble a Les Mills routine (a choreographed workout). Tech integration in gyms today extends beyond wearables and digital wall displays. Accessibility and convenience for brand-customer connections have improved with the use of smartphones and mobile apps. As a result, gyms are using technology to engage with their customers.

These apps enable users to set fitness goals, browse class schedules, sign up for a class, and track their training through specialized interfaces to provide members with the best experience possible. Finding your preferred fitness apps only requires you to reach for your phone. It offers users a quick way to request information. They can share information unique to their gym with their followers, educating them about health and wellbeing and promoting a trend toward an active lifestyle. Owners get informative feedback in return, which helps them build a solid online reputation, boost member confidence, and attract more potential customers. More individuals than ever are communicating with one another online. They subscribe to a fitness channel on YouTube, join a Facebook fitness group, follow an influencer on Instagram, and like a friend’s post on their weight loss success.

By making fitness seem less like going to the gym and more like a lifestyle, gyms are starting to recognize the social side of fitness. And the best places to promote this culture are their Facebook and Instagram sites. It is incredible how much the fitness industry has changed in the last few years, almost unrecognizably. Technology will continue to influence people’s active lifestyles while enabling gyms to offer more suitable modifications of workouts, with the potential to raise the efficiency of existing training trends and improve customer experience. Members will be able to monitor their progress and exercise both at the gym and at home in the future hybrid gyms. The fitness sector has been forced to adjust to this new norm. Recognizing the essential advancements achieved in the fitness industry is crucial. One of those tools is wearable fitness technology. These devices can monitor your body’s progress, including your heartbeat, body temperature, and estimated calorie intake. The smart bracelet, which acts as a fitness partner by providing feedback on your body’s activity, is a popular wearable. It assists in creating appropriate diet and exercise regimens and tracks actual progress. There is no cause for anxiety because fitness applications are readily available. The requirements for nutrition and exercise are taken into consideration when creating health and fitness technology apps. Fitness equipment includes all machines and monitoring systems needed for various physical exercise sectors (corporate offices, hotels, hospitals & medical centers, and public institutions). You’ll notice that specialists and medical professionals created the exercises and routines. These apps for fitness technology provide their customers with a variety of advantages. Below are a few of them: 

• These applications provide free fitness advice
• Follow your fitness development
• Create a routine based on your objectives
• suggest a healthy diet based on your body’s needs
• Track your caloric intake and weight
• You become motivated by it

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Covid 19 Impact

Due to the coronavirus outbreak, increasing the number of individuals exercising at home to prevent contracting the disease will help the market expand. For instance, according to data from Business Wire in May 2020, sales of workout equipment increased by 170 percent due to the COVID-19 outbreak. Additionally, the epidemic has motivated non-fitness enthusiasts to prioritize preserving their health and fitness, which aids in building momentum. In light of COVID-19, self-care is increasingly essential for maintaining one’s mental, physical, and emotional well-being. The pandemic has raised public awareness of the need to improve physical health and immune system function. The shutdown of the gym and the forced movement of gym patrons home are both consequences of the global lockdown. The COVID-19 epidemic has led to a rise in people utilizing fitness technology to exercise at home. In May 2020, home health and fitness equipment sales soared 170 percent during the epidemic.

Equipment for exercising from 2020. The home fitness equipment market is anticipated to increase significantly due to rising health and fitness awareness. In 2020, the need for home exercise equipment was estimated to be worth USD 10.18 billion, despite a fall in the fitness equipment industry as more people moved their gyms into their living rooms. The impact of COVID-19 has been extraordinary globally, with the product enjoying a surge in demand throughout the epidemic. Modern workout equipment is now being released on the market, allowing you to experience the gym at your own pace and convenience.

Regional Analysis

North America and Europe secure most of the world’s fitness equipment marketplaces. These two areas together make up roughly 60% of the market. But due to increasing consumer demand, it is expected that between 2020 and 2030, the fitness equipment market in the Asia Pacific region will expand at the fastest rate. The exercise equipment market is anticipated to grow at a CAGR of roughly 4% between 2020 and 2030. North America and Europe dominate the fitness equipment market, but industry participants should look to the Asia Pacific region’s fast-expanding market for improved earnings. The home fitness equipment market is dominated by North America, which will generate USD 3.55 billion in sales in 2020. The development of home gyms is expected to expand along with the number of million-dollar homes, which will raise costs. For instance, according to figures cited by USA Today in November 2018, the number of residences priced at $1 million or more increased by 400,702 in 2018. Additionally, regionally-based indigenous companies like Precor Incorporated, Life Fitness, Cybex International, and others with a broad selection of attractive product offers will aid in boosting demand.

Europe’s high per capita income is likely to produce considerable growth. Products for personal health and fitness, including equipment for at-home workouts, would become more expensive. For instance, The European Union’s per capita income in 2019 was as follows, according to Trading Economics: Germany paid 47,628 USD, France paid 44,317 USD, Italy paid 35614, and the UK paid 43688 USD. The rise in the number of people who regularly exercise in Europe has been identified as another important factor influencing the growth in demand. For instance, according to Play Time.Org figures from March 2018, 40% of Europeans exercise weekly.

Due to the booming rise of e-commerce, South America is predicted to experience significant growth, bolstering online sales of home fitness equipment. For instance, Sales through e-commerce platforms climbed by 16 percent in Brazil in 2019 over 2018, citing Trade.Gov data. The high GDP levels that these countries have attained would also increase consumer expenditure on fitness-related goods. It would significantly aid in the growth of the neighborhood. For instance, figures from the World Bank indicated that Argentina’s GDP in 2018 was estimated to be USD 517.62 billion. The Asia-Pacific region should dominate the global market, according to expectations. The market was expanding due to the increased number of dual-income households and increased home exercise equipment expenditure; for example, from June 2020, over half of all married couples in South Korea may anticipate earning two wages in 2019.

Furthermore, the regional administration actively promotes health and physical education in schools, both of which have gained favor. For instance, the Press Information Bureau of the Government of India said in December 2019 that pupils in India’s first through tenth grades are obliged to take health and physical education classes. Because of the city’s rapidly expanding population, people would choose a healthy lifestyle. That calls for beginning a safe at-home exercise regimen, which has raised its consumption rate.

Market Drivers

Increased sedentary lifestyles drive the global demand for exercise equipment. The market for exercise equipment is expanding due to the number of gyms and service providers in the industry. Service providers provide packages and discounts for weight loss programs to draw in as many customers as possible. With an increase in the clientele of these fitness centers, market revenue is expected to soar. Cardiovascular disease prevalence is another factor driving up demand for workout gear. People are turning to physical activity due to the increased knowledge of diseases caused by a sedentary lifestyle, which is predicted to increase the demand for fitness equipment. In 2021, the sector that focuses on fitness and weight loss had the highest revenue share, more than 50.0%. Utilizing scheduled notifications, exercise, and weight loss applications urges users to exercise frequently. Applications for working out often provide tools for tracking your fitness, audio instructions, and video demonstrations. Nike Training Club, 7 Minute Workout, Aaptiv, Garmin Connect, Daily Workouts Fitness Trainer SworkIt, Daily Yoga, FitOn, 8fit Workouts, and Adidas Training by Runtastic are just a few of the applications available to maintain a fitness regimen.

The segment is developing due to a sizable consumer base’s increasing use of exercise and weight reduction apps. Additionally, exercise and weight reduction apps make it easier and more convenient to measure and monitor daily calorie intake at the level of macronutrients like fats and carbohydrates. On the basis of data from user feeds, they also offer a personalized lifestyle plan. For instance, Otari’s AI Smart Mat offers a revolutionary feature that enables data access and pressure-sensitive inputs, producing instructions that are more accurate.

In the United States, all major manufacturers of athletic equipment offer performance tracing technology-based training equipment. It is predicted that these businesses’ efforts would help meet the demand for their products across the United States. Additionally, the growing consumer spending on Internet of Things (IoT) technology-based home furnishings is driving businesses to introduce ground-breaking fitness goods. This element fosters the expansion of the American workout products market.

The higher price of digital exercise equipment is anticipated to reduce demand among lower- and middle-income U.S. population segments and restrain the expansion of the U.S. home fitness equipment market. Additionally, when workout-related accidents rise owing to incorrect use of such devices, product demand for American home exercise equipment may decrease.

Significant home fitness equipment producers are putting more and more emphasis on incorporating AI technology into their products. This will have a favorable effect on the fitness equipment industry’s development and assist in transforming it. For instance, Otari’s AI Smart Mat offers a revolutionary feature that enables data access and pressure-sensitive inputs, producing instructions that are more accurate. The gadget boasts several appealing features, including an AI-enabled camera, two HiFi speakers, an ultra-wide HD display, and compatibility with Android and iOS devices.

The fitness equipment market can be divided into cardiovascular, strength, and other, depending on the kind. Health clubs/gyms, commercial users, and residential consumers made up the three segments of the market. On the other hand, the makers and e-commerce platforms concentrate on more cutting-edge and efficient fitness items to offer home customers. Most of the market share for fitness equipment sold worldwide comprises the strength, cardiovascular, and other equipment divisions. Treadmills, ellipticals, stationary bikes, and other devices make up the cardio equipment. Free weights and apparatus like the leg press, shoulder press, and cable crossover are among the strength training tools. The various equipment sections also include body analyzers and activity trackers.

The necessity for the product is increased with the rising number of obese people because it is an essential tool for helping them lose weight at their speed. For instance, the adult obesity rates in the United States surpass 35% in 12 states, 25% in 48 states, and 30% in 35 states, according to statistics from the State of Child Obesity.Org published in September 2020. Additionally, their demand has grown as people become more aware of how inactivity contributes to several health problems, including cancer, diabetes, and heart disease. For instance, inactivity increases the risk of heart disease, a number of cancers, and type 2 diabetes, according to data from the Centers for Disease Control and Prevention published in September 2019. Additionally, a lack of physical exercise is linked to annual healthcare costs of USD 117 billion.

Fitness Technology Enhancing Home Wellness

In order to survive as the fitness industry moved online, both fitness businesses and consumers made investments in home fitness. Gyms improved their online offerings, and consumers improved their home setups by establishing long – term investments in a wide range of equipment,  fitness trackers, apps, and wearables.

Home Gym Equipment

From 2019 to 2025, the market for home gym equipment will be expected to expand at a CAGR of almost 9%. New technologically innovative, and digitally advanced fitness equipment is being introduced. What was formerly considered a luxury is now becoming popular among people: creating gym areas in their homes and garages. Without traveling to the gym, there are many methods to keep in shape, from basic weights and yoga mats to cutting-edge cardio machines and other modern workout equipment. Additionally, having your workout established might save you time and money even if there is a one-time setup cost. The COVID-19 epidemic has led to a rise in people utilizing fitness technology to exercise at home. As of May 2020, home health and fitness equipment sales soared 170 percent during the epidemic. As gyms migrated into people’s living rooms, the market for home fitness equipment reached a value of USD 10.18 billion in 2020. During the pandemic, COVID-19 had a positive demand shock that affected all markets, having an unheard-of and astonishing worldwide influence. Modern workout equipment is now being brought to the market, allowing you to enjoy the gym experience at your convenience and location.

 Some examples are given below :

1. JAXJOX 

JAXJOX creates a variety of adjustable, connected equipment. For a 360° training experience at home, its InteractiveStudioTM combines intelligently adaptable equipment, performance tracking powered by AI, and interactive personal training. A smart kettlebell with a variety of weight settings is called KettlebellConnect. It incorporates a stacking system that makes it quick and easy for users to lock on additional weights. The kettlebell also has sensors that allow users to monitor each training session’s scope, rigor, and length. Dumbbell and Foam Roller Connect are some of the additional items available.

2. Nordic Track

Swedish Track One of the most well-known home stationary cycles, after Peloton, is the NordicTrack brand. The company manufactures a variety of home fitness equipment, such as ellipticals, rowers, treadmills, and interactive strength training apparatus.

Wearable Fitness Technology

Fitness technology offers various options to assess your physical activity throughout the day to provide consumers with a more thorough understanding of how exercise habits affect their bodies. Wearable fitness technology tracks physical activity like steps taken by using a device always worn. Calories burned, and intensity of workouts. As fitness technology develops, customized health regimens become more precise and accurate, producing more realistic at-home workout results.

Fitbit acquired a healthcare company that links people with chronic illnesses to doctors or coaches while integrating Fitbit data into health assessments as the demand for wearable fitness technology grew. Another Canadian clothing company, Hexoskin, focuses on activewear and overall health. It assesses sleep quality, heart rate, calories, steps, and lung function using fitness technologies. They monitor respiratory patterns and measure breathing volume and velocity outside the regular logon hours. Over the past ten years, wearable technology for fitness has seen a sharp increase in public popularity. Even though many other wearables have debuted and are constantly being developed, smartwatches like the Apple Watch are undoubtedly the most well-known today.

Fitness Trackers

Wearable Fitness Trackers Smartwatch elements, such as phone notification alerts, are increasingly incorporated into fitness equipment, such as FitBit’s line of fitness trackers, and smartwatches have a variety of fitness monitoring choices and capabilities. However, since they have fewer features and place more of a focus on functionality than on looks, fitness trackers are less costly. Fitness trackers are becoming significant work disruptors as they include more and more functions seen in smartwatches. Fitness trackers used to be free of many of the distractions that might potentially disturb work on smartwatches. The inclusion of these additional elements that interfere with workouts and render fitness technology useless must be taken into account by the creators. Fitness trackers are starting to really disrupt the workplace as they start to include more and more functions seen in smartwatches. Fitness trackers used to be free of many of the distractions that might potentially disturb work on smartwatches. The manufacturers must take into account these additional elements that interfere with workouts and render fitness technology useless.

Virtual Reality

Virtual reality fitness technology, often known as VR fitness, is a kind of exercise that uses technology to immerse individuals in a brand-new, virtual workout environment where your body acts as the controller. That implies that if your boxing game character must throw some punches, you will also be doing so in real life. Since boxing requires individualized instruction, some fitness studios are now streaming the sport to members online thanks to the development of smart fitness technology, opening up new opportunities for individuals to get in shape. To combat the tremendous problem of gym boredom, businesses are merging the captivating and addicting qualities of video games with the health and fitness benefits of exercise. With its interactive style, virtual reality leverages gym technology to keep its customers safe. A well-known virtual reality fitness tool called Oculus Quest Fitness Software employs games and interesting effects to entice users to exercise.

Smart Exercise Equipment 

Many innovative and cutting-edge workout equipment manufacturers fought to replace gyms during the pandemic. There are several products vying for the attention of fitness fans, including NordicTrack treadmills, Hydrow competent rowers, the Mirror for guided courses, and an all-in-one gym. Peloton motorbikes successfully positioned itself in the market in response to the demand for cutting-edge exercise solutions as the innovative generation finds their way to a healthy lifestyle and does so in the comfort of their homes. They identified a gap in the market and jumped in to close it by utilizing exercise technology to enhance at-home wellness to rival the rich gym experience. Desk-bound bikes or treadmills that consumers may use at home are now outfitted with visual display devices as a result of the widely used Peloton bikes. In addition to providing customers with specific options depending on their tastes, these movies demonstrate how units keep in the flow while you work out. To make the platforms more engaging, users can select whether or not to sync their workouts with global leaderboards and upload a funny moment from the competition.

Fitness Apps

Workout apps are specialized software programs that offer users customized fitness regimens using current fitness & gym technology. In the second quarter of 2020, 24% more Daily Active Users were using fitness apps than in the first quarter. The fitness app industry is expanding due to rising smartphone usage and continued advancements in fitness technology. Individualized workout regimens are offered to customers by fitness applications using artificial intelligence, machine learning, and other technologies. They additionally offer:

• One-on-one health coaches.
• No-equipment workout plans.
• Custom nutrition plans.
• Food tracking.
• Step tracking.

These advantages have improved the market’s potential for expansion. For instance, MyFitness Pal uses smart fitness technology to provide its consumers with customized diet and exercise tracking. This software brought in USD 6.7 million in June 2020.

Fitness technology and digital fitness were already increasing, but in the post-pandemic environment, they have taken over as the dominant trends. In the first two quarters of 2020, there was a 46% global rise in the downloads of health and fitness apps. Some of the largest tech-driven developments are altering the health and fitness industry.

Fiit App

App for users has always had the option of free or premium membership with a wide range of live and on-demand exercises conducted by well-known fitness experts. The subscription version offers more than 600 courses, 20+ training programs, and the opportunity to link a heart rate monitor to observe real-time statistics, measure progress, and connect to live leaderboards during group exercise sessions.

1. Virtual live coaches

Exercise aficionados in more developed economies increasingly embrace connected fitness made possible by intelligent technologies. Modern video games allow users to follow their preferred fitness regimens at home with the support of a virtual trainer who corrects users’ forms and postures in real-time to obtain the best results. In the post-pandemic environment, interactive technology will become even more common, especially since lockdowns have dispelled the myth that fitness training can only be done in physical gyms.

2. Personalized workout plans

The use of wearable technology has become widespread in the wellness industry. Fitness lovers can use an app or a fitness tracker to use wearable technology to track their workouts and progress. These gadgets record a tonne of information about the user. Leading fitness companies are increasingly utilizing cutting-edge machine learning algorithms to harvest data-mined insights that enable individualized exercise and food plans by the individual’s particular health profile and goals. Better outcomes and more user retention have resulted for the tech-driven platforms. Solutions that measure metabolic processes and vitals throughout the day are also under development to give consumers a more comprehensive understanding of how their diet and exercise routine affect their body and mind. Personalized health regimens will get more precise and precise as technology becomes more innovative, producing more effective results.

3. Towards holistic health

The virus outbreak brought home the importance of maintaining one’s mental, emotional, and psychological health. Fitness enthusiasts recognized there had to be more to virtual fitness services than just the physical exercises they were used to in the days before the epidemic started. These days, a healthy work-life balance, good sleep habits, mindfulness, and healthy food are all included in the notion of fitness and wellness.

The demand for mindfulness and meditation apps has risen as more individuals adopt a holistic approach to health and wellness. At the same time, there are now more class options available for various activities like spinning, Zumba, and yoga due to the growing demand for digitally guided fitness solutions. Subscription services now make what was previously only accessible through physical gyms and personal trainers available at home.

4. Towards a hybrid and hygienic future

The fitness sector’s future is hybrid, combining the best elements of the physical and digital worlds. The only obstacle preventing gym goers from returning to the early post-pandemic environment is the worry of unintentional transmission. Fitness centers are resolving this issue by strictly adhering to safety and sanitary standards at physical locations. For instance, leading gym and club management solutions offer capabilities that track a user’s immunization status to give users and staff members more security and peace of mind. These improvements can enhance the gym experience for today’s fitness aficionados.

The fitness and wellness business will continue to change due to digital platforms and fitness technology, which will be crucial in assisting people in staying fit and healthy not just in the comfort of their homes but also in a hybrid post-pandemic future. And given the benefits that this paradigm shift has made possible, it wouldn’t be a stretch to predict that current and upcoming trends will continue for the foreseeable future.

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Key Players

As the fitness sector continues to grow, the market for fitness technology is changing quickly. Modern businesses now enjoy many benefits thanks to technological breakthroughs, causing simple economic changes. Thus, to develop better strategic plans, a corporation needs to understand the patterns of market changes. Businesses have the edge over competitors and a head start on planning, thanks to a good strategy.

By collaborating with startups like Paceline, which provides a fitness rewards platform that enhances the financial benefits of physical activity, corporations are embracing the advantages of fitness and wellbeing.

Additionally, young businesses are rapidly providing exercise technology for seniors. These firms concentrate on offering physical treatment, information for preventing diseases, and more. We found more than 80 early-stage startups using the CB Insights platform to influence the future.

Significant home fitness equipment producers are putting more and more emphasis on incorporating AI technology into their products. The fitness equipment industry will undergo a revolution and, as a result, spur expansion in the industry. For instance, Otari’s AI Smart Mat offers a revolutionary feature that enables data access and pressure-sensitive inputs, producing more accurate instructions. The device has several enticing features, including a camera with AI capabilities, two HiFi speakers, an ultra-wide HD display, and support for iOS and Android smartphones.

Major home fitness equipment manufacturers are emphasizing the integration of AI technology into their designs more and more. This will transform the exercise equipment industry and have a beneficial effect on its expansion. For instance, Otari’s AI Smart Mat offers a revolutionary feature that enables data access and pressure-sensitive inputs, producing more accurate instructions. The device has several enticing features, including a camera with AI capabilities, two HiFi speakers, an ultra-wide HD display, and support for iOS and Android smartphones. After the epidemic, fitness technology and digital fitness, which were already on the rise, dominated the industry. In just the first two quarters of 2020, the number of health and fitness application downloads climbed internationally by 46%. Downloads increased by an incredible 156% in India.

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Recent Development

People’s lifestyles have already changed as a result of the new epidemic. There has been a surge in interest in home fitness, and some customers have bought related products. They might stop going to the gym altogether, even when the outbreak has ended. In line with this trend, businesses like Nike and Lululemon leverage technology and big data to improve the “home fitness” experience. Due to the outbreak, purchases of various home training equipment, including kettlebells, dumbbells, and other items, have skyrocketed and are currently out of stock. Numerous start-ups and sports apparel companies have also seen commercial prospects, introduced a range of home gym equipment, and leveraged cutting-edge, big data, and other technology to develop user-friendly home gyms.

The fitness sector is constantly changing. More gyms and clubs are adding the newest exercise technologies to their offerings every year to stay competitive. In addition, the fitness industry is one of the greatest if you want to succeed in business.

With that kind of expansion, it is understandable why fitness technology has been overgrowing. Modern technology is incredible. However, to keep on top of things, you must know which fitness technology trends are expanding rapidly and offer the most significant earning potential. Therefore, if you are someone who is constantly seeking to increase your market expertise, here are the four fitness trends that are expanding the fastest:

Online class reservation

Scheduling software is anticipated to be worth over $360 million by 2024 due to the unmatched simplicity of online class reservation software. It keeps things simple to let participants register online so that instructors and administrators can keep track of who signs up. Not to mention that online class registration saves your employees time because it doesn’t involve emails or phone calls. Online class reservations also prevent courses from overflowing, a significant advantage. No teacher enjoys leading a class that is oversubscribed, but thanks to online registration, your teachers never have to worry about it. The cancellation process is also made simple for club owners and members by allowing members to easily cancel their registration online.

Online training services

16% of adults claim to have increased their online fitness video viewing since social distancing laws were implemented. Online training and coaching have become commonplace in the fitness sector. Many modern clubs use integrated technology and mobile apps to connect club members and teachers. Individuals can achieve their fitness objectives without paying for an in-person trainer, thanks to the several apps replicating personal trainers on smartphones.

With the help of developments like Endomondo, millions of people now have more straightforward access to personal training. Digital personal training services have become a substantial new business in the fitness industry due to the popularity of training apps. It’s essential to remember that despite all this advancement, virtual training is still in its infancy. The COVID-19 pandemic will only cause demand for online training services. Personal trainers can offer their services in the most lucrative and secure manner through online training. Nothing will change in the short future

Mobile applications

The most recent developing technologies for mobile apps. On the Google Play and Apple App Stores, health and fitness apps now have a market share of about 3%. Given the increase in smartphone usage, it makes sense that mobile fitness applications have had the most noticeable growth on our list. Smartphone owners use their gadgets for many things, including staying fit. The expected increase for fitness applications compared to other mobile apps is 7.6% between 2017 and 2022, which is quite astonishing. The gap is tremendous. Therefore mobile apps are fantastic tools for club owners to use to boost client engagement and online class enrollment and provide a better club experience. A mobile app’s brilliance is that it can easily merge items one and three on this list into a single technological solution. Members can use any virtual workout courses you provide and register for classes from the comfort of their smartphones with the help of a well-designed app. It might also be a valuable tool for trainers, who can use the app to keep tabs on participants’ general development and workout history even when they aren’t in a session. Trainers can provide members with individualized training guidance that keeps them motivated and on track to reach their fitness goals outside the boundaries of your club with the use of data tracking technology.

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Customer Analysis

Today’s most popular fitness technology includes apps and wearables to digital platforms and gear. Technology’s convenience is unmatched, novelty considerations of new developments apart. Fitness technology and digital fitness have been transforming our market for some time; both industries saw yearly growth before the pandemic. This transition affects suppliers (gyms/personal trainers) and the consumers (gym-goers). Manufacturers of connected devices and other participants in the digital fitness industry must watch for their and their client’s safety. In July 2020, a significant wearables company was the victim of a ransomware assault that forced the shutdown of its user ecosystem and required days to repair. More recently, it was discovered that another vendor of linked fitness solutions had an exposed API that could have given hackers access to user data. Sensitive information breaches and outright ransomware attacks are genuine risks that can catch an unprepared industry participant off guard. Data security is a top concern for businesses that handle customer data. A data leak can endanger customer relationships and is, in fact, a breach of trust.

Treadmills, stair climbers, stationary bikes, rowing machines, ellipticals, and free weights are some of the most popular at-home fitness equipment. Globally, there is a greater demand for at-home exercise equipment as people become more health conscious. The expansion of the worldwide at-home fitness equipment market has been significantly supported by the rise in health consciousness and the incidence of obesity. Additionally, the adoption of at-home workout equipment has been spurred by the increase in urban population, rising disposable income, expanding health consciousness, the bodybuilding trend, and increased government measures to promote a healthy lifestyle. The demand for at-home exercise equipment is growing in emerging economies as disposable income rises, people want to maintain physical and mental health, and bodybuilding is becoming increasingly popular. The use of machine learning and artificial intelligence (AI) technologies contributes to the global expansion of the at-home workout equipment market. The need for at-home fitness equipment is predicted to increase the demand for AI-based personal trainers. Tech behemoths like Google and Apple are complex at work creating intelligent wearables that can virtually advise and guide users based on health data collection. The worldwide at-home fitness equipment market will be driven by these technological improvements shortly. In addition, busy schedules and sedentary lifestyles have prompted the development of at-home exercise gear. The expense of a gym membership is decreased by exercising on fitness equipment at home.

Additionally, the COVID-19 pandemic dramatically encouraged people to purchase at-home training equipment as gyms and other fitness facilities were forced to close entirely due to strict lockdown regulations worldwide. The market for at-home exercise equipment is divided into product type, method of distribution, end user, price point, and region. Free weights, power racks, and cardiovascular training equipment make up the three main categories of at-home fitness equipment based on their product type. The cardiovascular training equipment market is further broken down into treadmills, stationary bikes, ellipticals, rowing machines, and other devices. Dealers, internet, retail, and gyms/clubs make up the four distribution channels that comprise the worldwide at-home fitness equipment industry. Direct distribution and third-party retailers make up the second division of the online market. The retail sector is further divided into mass merchants and specialist merchants. End users divide the at-home fitness equipment industry into homes, apartments, and gyms in flats. Price points for cheap, mid, and premium goods are separated in the market.

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Future Developments 

Following the research Describing the User Experience of Wearable Fitness Technology via Online Product Reviews conducted by Baotran Ho According to Jessica R. Michaelis, Michael A. Rupp, Daniel S. McConnel, James Kozachuk, Daniela Zapata-Ocampo, l, and Janan A. Smither of the University of Central Florida, usability, technological trust, motivation, and wearability are the four themes that have the most prominent effects on the user experience when it comes to wearable fitness devices. They advise product designers to take note of these areas when developing and evaluating their goods. Researchers found that more damaging than good events impact users’ experiences. More determinant to the user’s experience than whether it displayed accurate data are usability issues like having trouble syncing or setting up their device, having a poor battery life, and wearability issues like having a device that people can easily damage that is uncomfortable to wear. Overall, we conclude that user experience information is abundant in online product reviews, which may interest other shoppers, product designers, and researchers. An inexpensive strategy to quantify product issues that could be helpful during the development cycle is the approach outlined in the research article.

Competitive Analysis by Technology

1. Home Gym Equipment

Keyword search volume

USA : 38k (ahrefs)

NEW ZEALAND : 1.4k  (ahrefs)

AUSTRALIA : 8.9k (ahrefs)

CANADA : 3.9k (ahrefs)

UK : 9.5k (ahrefs)

Market size : 10.18 billion (2020)

Leading company : Fitness

Google trend graph :

2. Wearable Fitness Technology

Keyword search volume (Health watch)

 USA : 150 (ahrefs)

NEW ZEALAND : 70  (ahrefs)

AUSTRALIA : 600  (ahrefs)

CANADA : 800 (ahrefs)

UK : 2.7k  (ahrefs)

Market size : 12.44 billion

Leading company : Apple

Google trend graph :

3. Fitness Trackers

Keyword search volume

 USA : 19k (ahrefs)

NEW ZEALAND : 700 (ahrefs)

AUSTRALIA : 3.1k (ahrefs)

CANADA : 2.3k (ahrefs)

UK : 9.2k (ahrefs)

Market size : 34.6 billion (2020)

Leading company : fitbit 

Google trend graph :

4. Virtual Reality

Keyword search volume (VR fitness)

USA : 100k (ahrefs)

NEW ZEALAND : 1.0k (ahrefs)

AUSTRALIA : 7.9k (ahrefs)

CANADA : 12k  (ahrefs)

UK : 15k (ahrefs)

Market size : 6.1 billion (2020)

Leading company : Microsoft

Google trend graph :

5. Smart Exercise Equipment

USA : 350 (ahrefs)

NEW ZEALAND : 0 (ahrefs)

AUSTRALIA : 10 (ahrefs)

CANADA : 10  (ahrefs)

UK : 200 (ahrefs)

Market size : 2.17 billion (2019)

Leading company : Peloton

Google trend graph :

6. Fitness Apps

Keyword search volume

USA : 4.8k  (ahrefs)

NEW ZEALAND : 70 (ahrefs)

AUSTRALIA : 1.1k (ahrefs)

CANADA : 500  (ahrefs)

UK : 1.5k (ahrefs)

Market size : 13.78 billion(2020)

Leading company : Nike Training Club

Google trend graph :

Competitive analysis by market cap

1. Home Gym Equipment

JAXJOX 

Revenue : 17 million 

Employees : 3

Founded : 2016

Headquarters : Greater Seattle Area, West Coast, Western US

Global fitness technology company JAXJOX aims to make a better lifestyle accessible to everyone. The InteractiveStudio is the first home gym with interactive live and on-demand coaching for personalized workouts, connected free weights, and performance tracking powered by artificial intelligence (AI). The ground-breaking KettlebellConnect 2.0 and DumbbellConnect, along with four other related, IP-protected products, leverage real-time performance tracking powered by AI. With personalized, real-time statistics, such as repetitions, total volume, power, and an exceptional Fitness IQ score, The InteractiveStudio provides a training experience that is significantly deeper than that of rival products on the market.

The product lineup of jaxjox has included :

• KettlebellConnect 2.0
• DumbbellConnect
• InteractiveStudio
• Foam RollerConnect.
• JAXJOX Stretch and Resistance Band Set- Large

SWOT

Strength 

• Simple to use and set up
• A good idea

Weakness

• Customers are compelled to sign up for unnecessary subscription plans
• low standard
• Not enduring

Opportunity

• Integrate new functionality to the product
• Make products more durable
• Invest more in marketing campaigns

Threat

• Competition with well-accepted equipment in the fitness industry
• High staff turnover 
• Unmotivated instructors 
• Low participation 
• Deteriorating facilities
• Lack of funding

Nordic Track

Revenue : $5 Million

Employees : 25

Founded : 1975

Headquarters : Western US

The company NordicTrack makes ellipticals, exercise cycles, strength training gear, treadmills, and accessories. It is well recognized for its ellipticals, incline trainers, low-impact workout equipment, and Nordic ski machines. The owner and operator of NordicTrack are iFIT Health & Fitness Inc.

The product lineup of the Nordic track has included:

• Bike into New Horizons
• Rowing to Cross-Training in Seconds
• Interactive, 3-in-1 Training
• Your Daily Workout—Redefined

SWOT

Strength

• Well packaged
• Different apps for specific applications (ex: BLT app, iFit)

Weakness

• Bad customer service
• Inefficient after-market service

Opportunities

• Create a better aftermarket service division
• Improve customer service

Threats

• Competition
• Credibility getting affected by bad review for recent products

2. Wearable Fitness Technology

Apple Watch

Revenue : $13 billion 2021 

Total funding amount : $6.2 billion

Employees : 10001+

Founded : 1976

Headquarters : San Francisco Bay Area, Silicon Valley, West Coast

This internationally renowned company is a top competitor in the wearable healthcare technology market. The Apple Watch Series 7 is the company’s most recent wristwatch, and it has heart rate, ECG, and O2 monitoring, sleep tracking, automatic handwashing detection, and fall detection, which calls emergency services immediately if it detects the user has been motionless for around a minute.

The watch also has automated exercise recognition, which motivates users to establish personal objectives and monitor their overall progress with the help of an associated Activity app. The watch even has pace warnings so the user can determine whether they are traveling faster or slower than their intended speed.

SWOT

Strength 

• An innovative product
• The existing software is supporting the new product
• The whole value chain is in place
• Apple is status
• Strong brand of Apple is a major advantage

Weakness

• iWatch can eat Apple’s own products in time
• Customer need
• Status symbol goods

Opportunity

• High brand awareness
• Global watch market is profitable
• Increasing income levels
• It can be a new category of product that is defining or a new product category
• The needs of the future generation

Threat

• Innovation and competition
• Customer acceptance
• Differentiation is key

3. Fitness tracker

Fitbit

Revenue : $1.8 billion

Total funding amount : $66 million

Employees : 251-500

Founded : 2007

Headquarters : Western United States, West Coast, San Francisco Bay Area

The Fitbit Tracker, a wearable sensor being developed by the firm, is very small and wireless. It automatically records information about a person’s activities, including calories, burnt, sleep quality, steps, and distance.

The product lineup of the Fitbit includes:

• Fitbit Ace range
• Fitbit Inspire
• Fitbit Inspire 2
• Fitbit Charge 5
• Fitbit Versa 2
• Fitbit Versa 3
• Fitbit Sense
• Fitbit Aria Air
• Fitbit Ultra
• Fitbit One
• Fitbit Zip

SWOT

Strength

• Fitbit maintains a strong market position among powerful competitors.
• Fitbit’s environment has grown well-liked by its consumers and has been very successful.
• Fitbit has unparalleled access to information since it continuously monitors the health of its user base.
• Fitbit directly interacts with users via its direct distribution, which gives the business valuable market information.
• Fitbit is owned by Google, which gives the brand access to Google’s strengths.
• Fitbit gives a forum for friends and peers to compete.
• There are Fitbit-focused applications for activities other than exercising.

Weakness

• Fitbit suffers from a small target market as it attempts to advance toward a smart environment.
• Fitbit will find it more challenging to regain market share if cheaper competition emerges.
• Manufacturers of smartphones provide rival devices with more capabilities.
• Fitness-only monitors may be considered a novelty with little long-term usefulness.
• The Fitbit stats have drawn flak for being unreliable.
• Fitbit’s main fitness statistic is the number of steps taken.

Opportunities

• Fitbit has developed a significant interest in the health industry, creating innovation and brand synergies.
• Fitbit benefits from strategic alliances to boost its marketing efforts in the health and sports sectors.
• Incentives from businesses and health insurance encourage the usage of Fitbit in households.
• Use of sports sensors and wearables for monitoring and tracking in professional sports
• Fitbit can do more to get other programmers to make the software compatible with its devices.
• Fitbit may increase the variety of its wearables by adding additional sensors.

Threats

• In the global fitness and health tech market, competition is increasing
• Established athletic brands have more credibility
• Privacy issues with the Google merger doubt with users and anti-trust regulators
• Technology is always changing, and Fitbit will need to keep up with the times
• Continuation under Google might be challenging with Google’s corporate environment and data policies

4. Virtual Reality Fitness

VR Fitness 

While Supernatural and FitXR are the first choices for VR fitness apps, many of the games listed below can also be used to achieve surprising amounts of exercise “by mistake. If one ever fantasized the rowing machine would take you on a clandestine spec operations mission or dreamt there were swords involved in aerobics, this list is for you. Additionally, if one is using Quest or Quest 2 Oculus Move, their system-level fitness tracker enables you to establish daily fitness goals and monitor the calories you burn while using all VR apps, including Pistol Whip and Phantom: Covert Ops, Supernatural, and more pledge fitness.

SUPERNATURAL

Supernatural provides an alternative: guided exercises conducted by professional fitness experts, presented in stunning places throughout the globe, while many users create an ad hoc VR fitness routine (or off-world). The “Flow” exercises from Supernatural combine sweeping arm motions with many squats and lunges to create challenging full-body workouts that will leave you both drained and fulfilled. By selecting one of the new boxing techniques, you might even decide to learn how to bob, weave, and throw a right hook on Mars or the Great Wall of China. Numerous exercises are skillfully rhythm-mapped to your preferred music, including current songs, ’80s hair metal, hip-hop, EDM, and even Tchaikovsky. After the free trial, one may subscribe for less than $15 per month to watch Supernatural.

VZFIT

More than four million highways exist in the United States, and you may now bike on them without ever leaving your house. You can work out anywhere with Google Street View and exercise, the newest app from VirZOOM, a seasoned VR fitness startup. The most significant thing is that VZfit now allows up to five participants every ride, VZfit integrates with your current fitness gear, or you may choose a full-body “hoverboard” workout designed by a certified trainer.

HOLOFIT

Any rowing machine may be connected to HOLOFIT by Bluetooth or headset monitoring, as well as any bike or elliptical with an extra cadence sensor. If you don’t have home fitness equipment, HOLOFIT Freestyle lets you simulate running, rowing, cycling, and skiing utilizing bodyweight exercises in various unique VR locations. Live out your childhood dreams by paddling across Antarctica or riding through San Francisco. v If you want to increase the ante on the intensity, you may either explore at your own leisure or participate in a guided HIIT session.

5. Smart Exercise Equipment 

Peloton 

Revenue : $4.02 billion (2021)

Total funding : $1.9 billion  

Employees : 71

Founded : 2012

Headquarters : Greater New York Area, East Coast, Northeastern US

Provider of smart fitness training equipment and training platforms. It is an app-based platform that streams workout courses using stationary bikes inside. Additionally, it offers consumers all over the globe a best-in-class exercise experience by using proprietary Android-powered consoles and cloud-based streaming video technologies. Peloton’s main products are Internet-enabled stationary cycles and treadmills that allow monthly subscribers to participate in classes remotely through streaming video.

The product lineup of the peloton includes:

• Peloton guide
• Peloton bike
• Peloton bike +
• Peloton tread
• Peloton app

SWOT

Strength

• The subscription has several uses.
• There is no commute time required to reach the gym.
• The professors are very inspiring.
• One subscription can be used to work out the entire family.
• To stay inspired and challenged, complete tasks. You can even challenge other riders.

Weakness

• The Peloton bike itself is an investment. It’s a pricey bicycle
•  There is a recurring fee. To stream lessons, you need a monthly subscription.
• There are fewer opportunities to socialize with others than you might at a gym, but they do provide channels of communication for riders.

Opportunities

• Make the price of the goods more affordable
• Innovation

Threats

• Heightened rivalry
• Tough market penetration

6. Fitness Apps 

Nike Training Club.

Revenue : $46.71 billion (2022)

Employees : 112

Founded : 1964’

Headquarters : Greater Miami Area, East Coast, Southern US

Review (Playstore) : 4.1

Downloads (Playstore) : 10 M+

Review (Applestore) : 4.8

Review count (Applestore) : 251.9k

With precisely crafted routines from our top-tier Nike Master Trainers, the Nike Training Club App aids you in reaching your fitness objectives. NTC is ideal for training at home, at the gym, or on the go since it offers routines for all fitness levels using simply bodyweight or a complete range of equipment. With free fitness and wellness advice from expert trainers, athletes, and wellness professionals, one can exercise and build their muscles and attitude.

SWOT

Strength

• Strong Brand Awareness and Brand Equity
• Huge Customer Base
• Sustainability
• Iconic Relationships
• Secondary Brands
• Low Manufacturing Costs
• In-House Professionals
• Superior Marketing Skills
• Supporting the Black Community
• High Market Share

Weakness

• Poor Working Conditions Abroad
• Retailers Have a Stronger Influence
• Floating Debt
• Dependence on the U.S. Market
• Litigation
• Lack of Diversification
• Conflicting Strategies
• Sexual Harassment

Opportunities

• Emerging Markets
• Innovative Products
• Efficient integration
• Cutting off Relationships with Major Retailers
• Acquiring an Artificial Intelligence Startups
• Merging with the Metaverse
• Exit Wholesale Distribution
• Consumer Direct Strategy

Threats

• Counterfeit Products
• Increased Competitive Pressure
• Marketing Budget Pressure

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Insights and Conclusions

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