Global Interactive Fitness Market : Things You Should Know

 

 

The Global Interactive Fitness Market value stood at USD 4.27 Billion in 2021, and it is expected to reach USD 7.71 Billion by 2028, at a CAGR of 10.34 % over the estimation period (2022 - 2028). The Global Interactive Fitness Market is experiencing rapid growth and is estimated to grow significantly at an advanced pace by 2028.

The increasing number of smartphone application usage and the trend to blend data analysis with real-world implications are fostering the growth of the Global Interactive Fitness Market. With more people becoming vigilant about health and well-being envisages a huge growth in the urban market. 48% of the global population are proactive towards health and wellness and look forward to spending it. 29% of the Global population are anticipated to spend in health and wellness when triggered by need.

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The commonly used fitness equipment such as treadmills, weightlifting machines, ellipticals along with smart fitness devices such as gaming bikes, active wall games, active floor games, and exergaming products (Neuro-motor Cognitive Gym, Neuromuscular functional training) is estimated to face higher demands by forecasted year.

Interactive fitness has become an essential part of fitness programs. Exergaming is recognized as a serious fitness trend that utilizes information, technology, data, and communication to meet fitness targets using gamification. Interactive fitness is a solution for youngsters and health enthusiasts as it helps build physical and mental strength by combining traditional physical exercises with a modern-day video game.

Global Interactive Fitness Market Segmental Analysis

The segmental analysis of the Global Interactive Fitness Market is based on product, end-user, application, and region. Based on Product it is categorized into Fitness Equipment Software System. Based on Application is categorized into (Gym, Household). Based on End-user, it is categorized into Residential and Non-residential. Based on region, the Global Interactive Fitness Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Analysis by Product

The market is segmented into Fitness Equipment and Software System Based on Product. The highest CAGR is estimated for fitness equipment. The fitness equipment segment is estimated to register 8.9 CAGR by the forecasted year. This rapid growth is estimated due to increased health awareness among individuals and demand for fitness equipment, sales growth of fitness equipment grew by 170 % during Covid lockdown which shows growing demand soon. 

Analysis by Application

The market is segmented into households and Gym Based on application. The highest revenue is accounted for the household segment in 2020. This is attributed to the lockdown and shutdown of gyms during Covid 19 imposed lockdown. Global Home Fitness Equipment Market’s growth rate is 11.6%, with an estimated value of $19.8 Billion by 2027. Many people are directed towards health and fitness from the comfort of their homes which prospects increasing demand for interactive fitness devices.

 Analysis by End-User

The market is segmented into Non-residential and Residential. The residential segment is expected to generate higher revenues. Increasing risk of cardiovascular diseases, obesity, hectic work schedules and stress incline people towards interactive physical activities and recreation. The growing fitness awareness among the urban population is one of the contributing factors. Additionally, Internet accessibility along with the growth of the Internet of Things (IoT) will enhance the Global Interactive Fitness Market in the residential segment rapidly.

Top Global Interactive Fitness Market Players Company Profiles

·       Nautilus (US)

·       Peloton Interactive (US)

·       Interactive Fitness Holdings (US)

·       Echelon Fitness (US)

·       Fitness Holdings (US)

·       Motion Fitness (Canada)

·       Paradigm Health and Wellness Inc (US)

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Recent Developments in Global Interactive Fitness Industry

·       In 2021, Fittly, a global fitness community, has released a mobile app that provides the ultimate tool for fitness professionals.

·       In March 2021, the business inked a contract to buy Just Fit, a gym network with 27 locations in So Paulo.

·       In December 2020, Smart Fit’s deal with investors to establish a jointly operated subsidiary in Brazil. The Investors invested BRL 201.9 million in the opening of 34 additional gyms.

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