Smart Home Gym Equipment Market - By Equipment Type, By End User, Price, Distribution Channel Forecast 2024 – 2032

Smart Home Gym Equipment Market Size

The global smart home gym equipment market size was estimated at USD 3.77 billion in 2023. The market is expected to reach USD 5.9 billion by 2032, growing at a CAGR of 5.1%.  The need for integrating regular exercise into daily routines is growing as people's health concerns increase.
 

In keeping with the trend toward a healthier lifestyle, smart home gym equipment offers a convenient solution for people to meet their fitness goals regardless of time or place. People who are unable to join traditional gyms due to social anxiety, lack of transport, and time constraints can now make use of smart home gym equipment. As it turns out, having fitness solutions brought to their homes enables individuals to exercise regularly, which promotes their well-being.
 

Smart home-using devices such as smart watches and fitness trackers are growing along with expenditure on home gyms and other tools because of increased consumer spending. Consumers spent an average of $111.8 on sporting goods which includes exercise equipment, game tables, and more in 2021 according to the U.S. Bureau of Labor Statistics. In the United States, people reportedly spend on average $20-$100 monthly, depending on the type of gym they attend. In the US, boutique fitness studios service nearly 5 million individuals from various demographics.
 

Moreover, fitness trackers and other smart devices record and track a variety of fitness related metrics including heart rate, calories, sleep patterns and overall exercise. According to data from the Consumer Technology Association (CTA), sales of fitness trackers reached USD 3.1 billion in 2022. These devices enhance fitness experience by providing users with performance-based feedback and personalized suggestions in real time. Over 320 million wearable devices were used worldwide for fitness tracking, according to the World Economic Forum's 2023 study on digital health. In addition, these immersive workouts are further improved using AR and VR training programs that provide the benefits of a gym class to the individual in the comfort of their home.
 

Smart Home Gym Equipment Market Trends

• The emergence of an all-inclusive fitness environment, which includes equipment, wearables, and applications are significant trends in market. People with these devices are able to monitor their progress, can set targets, and maintain motivation throughout their fitness journey. Technogym, for example, has introduced a functional platform that integrates with more than 140 pre-existing software and applications, and allows the use of any brand of equipment. Through combining hardware and software together, this system provides consumers with an exceptional customized training experience.
   
• A shift towards greater sustainability in product design and development is on the rise. The green mindset consumers are adopting is forcing manufacturers to implement greener practices. Manufacturers looking for greater market share can easily achieve that through unending product innovations in design, utility, and technological integrations. In March 2023, SportsArt introduced the G660 Treadmill, which is a carbon-negative fitness equipment and the first of its kind in the industry. With its expected life cycle, the G660 can generate renewable energy exceeding the carbon that it is certified to produce, a huge milestone in eco-friendly fitness solutions.
   

Smart Home Gym Equipment Market Analysis

The market is growing as more people want easy and high-tech fitness options at home. Many brands are adding AI, workout tracking, and interactive classes to make exercise more fun and engaging. The demand is rising due to health awareness, work-from-home lifestyles, and online fitness programs. While these products offer great convenience, their high cost and space requirements can be a challenge for some buyers. North America is the biggest market, but Asia-Pacific is catching up quickly as more and more people in the region can afford smart fitness equipment.
 

• The smart home gym equipment market by equipment type is segmented into cardiovascular training equipment and strength training equipment. The cardiovascular training equipment type accounted for USD 2.8 billion in the year 2023. Rowing machines, aerobic bikes, treadmills, and stationary cycles all tend to be more sophisticated than before. The integration of touchscreens, internet capabilities, and interactive training sessions offers users attractive and engaging experiences to exercise. Users are able to participate in VR workouts, receive coaching, and take on-demand classes, providing variety that motivates users.
   
• Several manufacturers of equipment for cardiovascular exercises are working on fitness systems that will allow users to monitor workouts, assess activity records, and set fitness goals. Using a combination of smartphone apps, wearable fitness trackers, and internet, users can integrate their data, monitor results, and participate in challenges and contests. Connected fitness ecosystems nurture active participation in a community by enabling participants to make tailor-made recommendations for workouts as well as provide insight from data.
   

• The global smart home gym equipment market is categorized as professional and beginner based on end-users. The professional end user made up 67% of the market in 2023 due to increasing use of technology in fitness centers, gyms, hotels, corporate wellness programs, and fitness studios. Companies are purchasing smart equipment to enhance the user experience and overall satisfaction through personalized training, virtual coaching, and real-time performance tracking.
   
• The increase of corporate wellness programs and high-end hotels with fitness centers has also increased demand as these segments seek to provide the best value in fitness. Furthermore, the incorporation of wearables and fitness applications makes monitoring and tracking progress highly efficient, thus making smart gym equipment highly preferred in professional settings.
   

• U.S. held for the highest market in the North America smart home gym equipment market accounted for USD 1.16 billion in the year 2023. The U.S. market is influenced by factors such as increased health awareness, home-based workout activities, and technological innovations.
   
• The North American region maintains a thriving fitness lifestyle and focuses on being active and healthy. The change in consumer behavior towards being more health-focused is increasing the demand for advanced smart home gym equipment. Because of factors like busy lifestyles and the need for privacy, North American consumers are increasingly favoring home workouts. Many people choose to work out at home because it enables them to customize their workout preferences and schedules without having to stick to gym hours or worry about traveling to the gym.
   
• The projected smart home gym equipment market in Europe was valued at around USD 1.08 billion in 2023 and is anticipated to register a CAGR of 4.6% from 2024 to 2032. There has been a notable increase in Europeans' knowledge and practice of healthy living, which seems to be the main factor fueling the growth of this market. Furthermore, Smart Home Gym Equipment simplifies exercise, which is also boosting sales of Smart Home Gym Equipment in Europe.
   
• Looking at the country level, Germany is leading the European market with a market value of USD 230 million during 2023. Germany has increased its focus on health and fitness as overall health consciousness increases in the country's population. With a natural shift toward understanding the importance of exercising for their health, there is an increased supply and demand for smart home gym equipment to meet these convenient workout needs.
   
• The projected smart home gym equipment market in Asia Pacific was valued at around USD 870 million in 2023 and is expected to register a CAGR of 6.1% between 2024 to 2032. One of the main growth factors of the Asia Pacific market is increasing awareness of health and wellness fitness.
   
• Looking at the country level, China is leading the Asia Pacific market for market. China has seen more people becoming fitness and health conscious. Fitness awareness has risen due to higher disposable incomes, which subsequently increases the need for smart home gym equipment.
   

Smart Home Gym Equipment Market Share

• The top 5 companies in market includes Life Fitness, Technogym S.p.A, Peloton Interactive Inc., Precor and Tonal Systems Inc. accounting market share of 20-22% in 2023.
   
• Peloton Interactive Inc. innovation focus on establishing company centers around live and recorded classes, detailed performance monitoring, and community fitness programs. In order to stay competitive, Peloton decided to shift its attention to become profitable from subscription services where users could use workout programs without having to own Peloton branded equipment. In 2024, the company formed a partnership with Costco to sell its Bike+ at lower prices, making its products more accessible to people.
   
• Tonal Systems Inc. with its space-saving wall-mounted design, the AI-powered digital weight system, and fresh approach to strength training, Tonal has helped make workouts more efficient for regular athletes, saving precious space in their homes. The company focuses on resistance technology, personal training instruction, and measuring performance in real-time, helping people improve quickly. When Tonal 2 came out, it offered more weight options up to 250 lbs, Aero HIIT Workouts, Drop Sets, and Smart View AI coaching. These improvements help users achieve their fitness goals through personalized workouts which they can do on their own. Using machine learning for adjusting resistance and planning workouts, Tonal maintains its position in the industry and works well for both beginners and experienced athletes.
   
• NordicTrack, offering many interactive treadmills, bikes, and ellipticals, has improved its market position by constantly upgrading its technology. After joining forces with iFIT, users can now get virtual coaching, work out along scenic routes, and follow customized training programs. NordicTrack and iFIT released an AI Fitness Coach in 2024 that looks at how each person performs and creates specific workouts just for them.
   

Smart Home Gym Equipment Market Companies

Major companies operating in the smart home gym equipment industry include:

• AOPEN Inc.
• Aroleap Fitness Private Limited
• Aviron Interactive
• Beyond Power Inc.
• EGYM
• Flexnest Gym Accessories
• INNODIGYM
• Life Fitness
• Maxpro Fitness
• Nordic Track
• Peloton Interactive Inc.
• Precor
• Speediance
• TECHNOGYM S.p.A
• Tonal Systems Inc.     

The Smart Home Gym Equipment industry is fragmented due to several local regional level manufacturers offering low-cost products. The top companies like Peloton Interactive Inc., Tonal Systems Inc. and NordicTrack have competitive edges because of their strong brand image and with an extensive distribution network and continuous product development.
 

Peloton Interactive Inc., a major player in smart gym equipment market, reported revenue of approximately USD 3.8 billion in 2023 due to its advanced stationary bikes and treadmills, along with its interactive fitness classes, the company has made great success. The company's success also comes from the blending of quality equipment and innovative digital content through live and on-demand workouts, robust performance tracking, and improved community engagement.
 

Tonal Systems Inc. is another major company in the smart home gym equipment market reporting annual revenue amounting to around 100 million in 2022, by providing an advanced strength training system powered by artificial intelligence. The company's flagship product "Tonal" is a digital weight exercise machine crafted in the form of a compact wall-mounted device that provides integrated coaching and a comprehensive home fitness experience. This combination of advanced technology and space-saving design for the device makes Tonal different from other competitors in the home fitness market.
 

NordicTrack is a well-known name in the industry for smart home gym equipment. The company provides a wide selection of machines such as treadmills, bikes, and ellipticals. The innovation that NordicTrack is recognized for is combining high-quality machines with iFIT's digital fitness, which gives users the freedom to work out instantly along with virtual coaching and scenic routes. NordicTrack focuses on personalized training, helping users stay motivated and improve their fitness. To stay ahead in the market, the company keeps making its technology better and adding new products, such as the AI-Powered Fitness Coach and the NordicTrack X32i Incline Treadmill, which give users smarter and more interactive workout experiences.
 

Smart Home Gym Equipment Industry News

• In March 2024, EGYM launched a new EGYM Hip Thrust. This helps strengthen the glutes and hamstrings and the muscle groups in the lower body. EGYM Hip Thrust is known as the first fully electronic hip thrust device in the world. Instead of physical weights or resistance bands, it uses smart weights.
   
• Recently, in March of 2024, Precor announced its exclusive partnership with GluteBuilder, a leader in innovative and biomechanics focused design solutions. Together, they are working on GluteBuilder's pending patent range of glute training equipment. This product range will change the category of plate loaded glute equipment. These new GluteBuilder machines are incredibly flexible with unique biomechanics unrivaled in the industry, setting a new standard for fitness businesses.
   
• Aroleap's newly launched product, Aroleap X, is their flagship product that was launched in May 2023. They claim to have the world's first wall-mounted smart home gym. It revolutionizes the industry with its patented digitally controlled electromagnetic resistance system, where the user inputs the data they are focused on and gets a hands-on, tailored experience. Aroleap is the only company in India using this patented digital weight technology, so they have a monopoly on the connected strength market.
   

The smart home gym equipment market research report includes in-depth coverage of the industry, with estimates & forecasts in terms of revenue (USD Million) (Thousand Units) from 2021 to 2032, for the following segments:

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Market, By Equipment Type, 2021 – 2032

• Cardiovascular training equipment
  • Treadmills
  • Exercise bikes
  • Rowing machines
  • Elliptical and others
  • Stair climber/step mill
  • Others 
• Strength training equipment
  • Dumbbells
  • Barbells
  • Body bars
  •  kettlebells
  • Resistance band
  • Others     

Market, By End User, 2021 – 2032

• Professional
• Beginner

Market, By Price, 2021 – 2032

• Low
• Medium
• High

Market, By Distribution Channel, 2021 – 2032

• Online 
  • E-commerce
  • Third party website/company website 
• Offline
  • Supermarkets/hypermarkets
  • Multi-brand stores
  • Sport stores/ independent departmental stores
  • Specialty stores/sports chain outlets

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada 
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America 
• MEA
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA