USD 1.1 billion
Interactive Fitness Market Size, Share, Growth Analysis, By Product(Fitness Equipment, Software System), By Application(Gym, Household), By End-User(Residential, Nonresidential), By Region(North America, Europe, Asia-Pacific, South America), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45E2194 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
116
|Figures:
77
Interactive Fitness Market Insights
Interactive Fitness Market size was valued at USD 1.1 billion in 2019 and is poised to grow from USD 1.3 billion in 2023 to USD 4.8 billion by 2031, growing at a CAGR of 17.6% in the forecast period (2024-2031).
Fast food consumption, hectic work schedules, and an increasing number of people living sedentary lifestyles are key factors contributing to the focus on raising awareness about fitness and health, which is anticipated to continue to fuel revenue growth in the global interactive fitness market over the forecast period.
Another important element boosting the market's revenue growth is technological developments in the interactive fitness sector and the steady uptake of wearable technology to monitor health and fitness metrics. A growing consumer base of tech-savvy consumers with rising disposable income and the adoption of more technologically advanced gadgets, equipment, and solutions with more new and unique features are key drivers boosting market revenue growth. In order to narrow down the demand-supply gap, the market participants are heavily investing in and concentrating on the development of more inventive, user-friendly, interactive, and original solutions.
Customers that use interactive fitness items benefit from increased flexibility, which helps them avoid severe injuries, aches, and pains. Additionally, the social media usage and vendor promotional activities aid in raising awareness of a healthy lifestyle through various exercise and training regimens. During the projected period, this will have a substantial impact on the expansion of the worldwide interactive fitness market.
Due to the rapid innovation in fitness equipment, the segment's revenue share in 2019 was much higher. Additionally, it is anticipated that increasing consumer awareness and the simple availability of fitness equipment on numerous platforms will fuel segment revenue development.
US Interactive Fitness Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Household
Fastest Growth
Household
Growth Rate
17.6% CAGR
Global Interactive Fitness Market ($ Bn)
Country Share for North America Region (%)
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Interactive Fitness Market Segmental Analysis
The segmental analysis of the market is based on product, end-user, application, and region. Based on product the market is categorized into fitness equipment software system. Based on application the market is categorized into (Gym, Household). Based on End-user, the market is categorized into Residential and Non-residential. Based on region, the global market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Interactive Fitness Market 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 forecast 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 the lockdown phases.
Interactive Fitness Market 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.
Interactive Fitness Market 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.
Global Interactive Fitness Market By Application
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Interactive Fitness Market Regional Insights
The Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA based on region. The region that accounted for the largest revenue in the forecasted period is North America.
This is attributed to the increasing obesity rate and growing awareness about physical fitness and health. 51.5 % of global market revenue was recorded in North America in 2022. According to IBIS World obesity rate among adults has increased an annualized 1.8% to 33.0 people per 100 individuals in America. To cater to the problem large numbers of people are looking for fitness activities and ways to lead a healthy lifestyle. The availability of more sophisticated digital devices is also an enhancing factor that drives the Global Interactive Fitness Market in the North American region.
Asia-Pacific is the largest regional market for physical activity, at $250 billion in 2022. Asia pacific Market is also expected to generate high demand pertaining to increasing awareness about healthy lifestyle thereby leading to increased revenue and surge in the Global Interactive Fitness Market by forecast period.
Global Interactive Fitness Market By Region
- Largest
- Fastest
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Interactive Fitness Market Dynamics
Interactive Fitness Market Driver
Digitization to Drive a Huge Market Demand for Fitness Applications
- The Global Interactive Fitness Market revenue is expected to register a CAGR of 8.3% during the forecast period. High awareness among people about fitness and a healthy lifestyle is driving the growth of Global Interactive Fitness Market. The sedentary lifestyle and hectic work schedules have led to a high risk of anxiety, obesity, type 2 diabetes, and osteoporosis, chronic back pain. According to World Obesity Atlas 2022, 1 billion people are predicted to be obese. Consistent finding reports a continual increase in type 2 diabetes.
- The Covid-19 induced health emergency worldwide directed people towards health and fitness and indulged their fitness activities. Long Term closure of schools, and offices increased teenage obesity rate by 15%. The stress and uncertainty accompanied with the rise of pandemic by 25 % of people were facing anxiety, stress and mental health issues awareness and need to stay fit and stress free throughout directs people towards Interactive fitness devices that combine fun with exercising. The increasing demand for well-designed, easy-to-handle interactive fitness devices fosters the rapid growth of the market.
Interactive Fitness Market Opportunities
- Health and wellness products and services market is growing by 5 to 10 percent per year. More and more people are inclined towards healthy living activities. Some value traditional yoga and meditation along with diet and nutrition and some are routine walkers and joggers. 40 percent of the general population prioritizes health and wellness. The increasing availability of devices on ecommerce platforms and social media influences are motivating people towards fitness activities.50 % of the total time spent on mobile is spent on social media applications. More than 50 % growth was observed in purchase of health and wellness products subscription. The enthusiasm towards health and fitness is anticipated to fuel the Global Interactive Fitness Market through the forecasted period.
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Interactive Fitness Market Competitive Landscape
The Global Interactive Fitness Market is fragmented from small-sized to medium-sized accounting for major market revenues. These organizations are deploying strategic ways and insights to generate revenue and indulge in research in development activities to foster the Global Interactive Fitness Market with rapid growth. Several initiatives are taken to combine smart technologies such as artificial intelligence, Machine Learning, Internet of things (IoT) with fitness and exercise equipment. Some top players in the Global Interactive Fitness Market are:
Top Global Interactive Fitness Market Players Company Profiles
- Peloton Interactive Inc.
- NordicTrack
- Technogym
- Precor
- Life Fitness
- Matrix Fitness
- Nautilus, Inc.
- Echelon Fitness
- SoulCycle Inc.
- Flywheel Sports Inc.
- Mirror
- Tonal
- Hydrow Inc.
- MYXfitness
- FightCamp
- Tempo
- Bowflex
- ProForm
- Schwinn Fitness
- Horizon Fitness
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.
Interactive Fitness Key Market Trends
- Emergence of Digital Apps: Smartphone applications (apps) including advanced data analysis, advanced sensors, Internet of things (IoT are boosting factors for the Global Interactive Fitness Market.
- High Adoption: Covid-19 pandemic became one of the major boosting factors in augmenting the demand for fitness equipment and fostered the Global Interactive Fitness Market subjected to inaccessibility to outdoor gyms and recreational facilities. Urbanization and accessibility to smart devices are envisaging a way for transcending the global market in the forecast years.
Interactive Fitness Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to the global interactive fitness market report analysis, the by-product fitness equipment market segment is expected to maintain its dominance throughout the forecast period. To get a free trial access to our platform which is a one-stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and megatrends that are influencing the dynamics in the market. Also, get access to a detailed SkyQuest exclusive matrix.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 1.1 billion |
| Market size value in 2031 | USD 4.8 billion |
| Growth Rate | 17.6% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Interactive Fitness Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Interactive Fitness Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Interactive Fitness Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Interactive Fitness Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Interactive Fitness Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Interactive Fitness Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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