Fitness Equipment Market Size to grow by USD 7.71 billion| Increased Demand for Home Fitness Equipment to Boost Market Growth | 17,000+ Technavio Research Reports |

NEW YORK, Dec. 28, 2021 /PRNewswire/ — The “Fitness Equipment Market by Product (cardiovascular training equipment, strength training equipment, and other equipment), End-user (individual users and health clubs and gyms), and Geography (North America, APAC, Europe, MEA, and South America) – Forecast and Analysis 2021-2025” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.

The potential growth difference for the fitness equipment market between 2020 and 2025 is USD 7.71 billion, as per the latest market analysis report from Technavio. The report also identifies the report to witness a decelerating CAGR of 18.52% during the forecast period. Factors influencing the market positively and adversely are also discussed comprehensively in the report.

To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.

Key Market Dynamics:

  • Market Driver
  • Market Challenges

The increased demand for home fitness equipment and technological advancements in fitness equipment are some of the key market drivers. Consumers are learning to use advanced home fitness equipment via online videos and apps without the need to engage trainers, thus saving on costs. Furthermore, hectic work schedules and an increase in health issues have compelled people to undertake some form of exercise daily to remain healthy and prevent health-related issues, thus increasing the demand for fitness equipment.

However, factors such as high cost of fitness equipment and the availability of counterfeit products will challenge market growth. Consumers find joining health clubs more economical than buying home fitness equipment. Also, some people living in developing countries are more skeptical about spending on health clubs and gym memberships. Furthermore, the presence of several local brands offering counterfeit products in the global fitness equipment market is leading to market fragmentation, thus resulting in issues such as the lack of price standardization, an uneven competitive scenario, and market share erosion. 

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The fitness equipment market report is segmented by Product (cardiovascular training equipment, strength training equipment, and other equipment), End-user (individual users and health clubs and gyms), and Geography (North America, APAC, Europe, MEA, and South America). The fitness equipment market share growth by the cardiovascular training equipment segment will be significant during the forecast period. The cardiovascular training equipment segment includes treadmills, cross-trainers, stationary bikes, and ski machines. Increasing health awareness among consumers is driving the segment’s growth.

North America will be the leading region with 38% of the market’s growth during the forecast period. The US is a key market for fitness equipment in North America. Market growth in this region will be faster than the growth of the market in Europe. The increased prevalence of age-related health conditions will facilitate the fitness equipment market growth in North America over the forecast period. 

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Google overhauls interior technique, but provides a great deal of overall health equipment in 2021

Google’s healthcare enterprise looks a great deal unique at the stop of 2021 when compared with the beginning of the year. 

The tech giant overhauled its technique this 12 months, eventually dismantling its health and fitness division. On the other hand, it even now released a wide range of tools for both customers and clinicians, with a unique aim on health care accessibility and controlling COVID-19 as the pandemic moved into its second calendar 12 months. 

Google Overall health dissolves

In June, an Insider report revealed Google was shaking up its well being crew, moving much more than 130 of its about 700 Google Health and fitness personnel to Lookup and the new Fitbit team. 

Months later on, Google Health vice president Dr. David Feinberg introduced he was stepping down to just take on the CEO purpose at EHR business Cerner. Shortly soon after, Insider attained an interior memo detailing the breakup of the wellness division, with the company going initiatives housed there to more typical regions. 

But a Google spokesperson pointed out at the time that the tech large experienced place significant investments into well being “across the business,” signaling a continued curiosity in the house spread across the firm.

Fitbit finale

At the extremely commencing of 2021, Google last but not least concluded its acquisition of Fitbit, the preferred well being- and conditioning-tracking wearable. The $2.1 billion offer was initial introduced in late 2019, but was held up by a number of regulatory investigations.

“On our own, we pushed the bounds of what was achievable from the wrist, revolutionary stage, coronary heart amount, snooze and stress tracking,” Fitbit CEO and cofounder James Park wrote when the offer shut. “With entry to Google’s extraordinary sources, understanding and world wide platform, the opportunities are truly limitless.”

The conditioning tracker has begun to perform a part at Google’s sister business, Verily, which is targeted on the lifetime sciences house. It introduced in September that its digital serious sickness administration platform, Onduo, would supply Fitbit units and Fitbit top quality alongside its application. 

But Google could have its very own wearable aspirations exterior the Fitbit model. Early this thirty day period, Insider described the enterprise was performing on its individual smartwatch, codenamed “Rohan,” that it strategies to start following calendar year. 

Accessibility and COVID-19 equipment

As COVID-19 ongoing to upend every day daily life across the world in 2021, Google launched a wide range of equipment aimed at serving to people navigate the pandemic.

It started the calendar year with an effort centered on vaccine distribution, permitting end users to locate vaccination internet sites and info on Maps and Look for. It also introduced resources that showed journey constraints and advisories, aided people today find testing facilities, clinic means and vaccination web sites in India as instances spiked, and let buyers check how crowded public transit is to allow for for social distancing. 

The tech large also introduced its COVID Card API for Android, which can keep and display screen digital COVID-19

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