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Smart Home Gym Equipment Market Size
Smart Home Gym Equipment market size was valued at around USD 3.77 billion in 2023 and is anticipated to register a CAGR of 5.1% between 2024 to 2032, driven by increasing health awareness and shift towards home fitness.
As people become more health-conscious, there's a greater emphasis on incorporating regular exercise into daily routines. Smart home gym equipment provides a handy way for individuals to reach their exercise objectives without regard for time or location, coordinating with the trend toward a healthy lifestyle. Smart home gym equipment provides fitness opportunities accessible to people who may be unable to join regular gyms due to time limits, transportation challenges, or social anxiety. By bringing fitness solutions directly into people's homes, they are more likely to engage in regular physical exercise, which leads to better
health.
Report Attributes | Details |
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Base Year: | 2023 |
Market Size in 2023: | USD 3.77 Billion |
Forecast Period: | 2024 – 2032 |
Forecast Period 2024 – 2032 CAGR: | 5.1% |
2024 – 2032 Value Projection: | USD 5.9 Billion |
Historical Data for: | 2021 – 2023 |
No. of Pages: | 340 |
Tables, Charts & Figures: | 451 |
Segments covered: | Equipment Type, Price, End User, Distribution channel, Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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Smart home gym equipment market is also being driven by the rising disposable income and consumer spending on the fitness equipment boosting the overall the market. The average consumer unit spent USD 111.80 on athletic gear, game tables, and exercise equipment in 2021 U.S. Bureau of Labor Statistics. The average American spends between $20-$100 every month on their gym membership. Boutique studios in the US are currently catering to nearly 5 million people across different segments.
Additionally, mobile applications and wearable devices monitor & analyze a variety of fitness metrics including heart rate, calories burnt, sleep habits, and exercise performance. These gadgets offer the user real-time feedback and individualized recommendations, improving their entire workout experience. Furthermore, virtual training programs and AR provide immersive exercises, delivering the advantages of a gym class directly to homeowners.
One of the most common problems people face when working out at home is a lack of space to perform exercises comfortably and safely. Limited equipment diversity may result in limited alternatives to meet various exercise demands. Professional users may be discouraged from purchasing smart home gym equipment if they do not meet their unique fitness objectives or interests.
Additionally, data gathering, and storage are some of the most significant ethical problems with smart gym equipment technologies. While these devices measure and monitor personal health data, such as heart rate, activity levels, and sleep patterns, they collect a large quantity of information. This data is frequently stored on the cloud, with third-party access offered to businesses and researchers who may use it for a variety of purposes. This might raise concerns about data privacy and security. Smart gym equipment regularly captures personal data from users including physiological information, workout patterns, health measurements, and fitness objectives. If this data is not handled securely, it can be subject to unauthorized access, abuse, or breaches, resulting in privacy violations and serious damage to users.
Smart Home Gym Equipment Market Trends
Technology plays an important part in smart home gym equipment, improving functionality, connectivity, and user experience. Smart home gym equipment can connect to a wide range of devices and platforms including smartphones, tablets, wearables, and home automation systems. Smart home gym equipment uses interactive features, such as touchscreen displays, VR, AR, and gamification, to provide interesting and immersive training experiences.
The incorporation of displays into exercise machines has revolutionized the way people engage in workouts. Advanced technology is being coupled with gym equipment to create a dynamic exercise experience. AI and ML are customizing the fitness experience. Fitness applications and platforms incorporated with these technologies provide personalized training regimens and dietary advice based on users' health information, preferences, and objectives.
Smart Home Gym Equipment Market Analysis
![Smart Home Gym Equipment Market, By Equipment Type, 2021 - 2032 (USD Million) Smart Home Gym Equipment Market, By Equipment Type, 2021 - 2032 (USD Million)](https://cdn.gminsights.com/image/rd/consumer-goods/smart-home-gym-equipment-market-by-equipment-type-2024-2032.webp)
Based on equipment type, the market can be segmented into cardiovascular training equipment and strength training equipment. In 2023, the cardiovascular training equipment type segment accounted for revenue of around USD 2.85 billion in the year 2023 and expected to reach around USD 4.41 billion by 2032. Treadmills, stationary cycles, elliptical instructors, and rowing machines are all becoming more technologically advanced. The combination of touchscreen screens, internet connectivity, and interactive training programs provides consumers with compelling and immersive fitness experiences. Users benefit from features like virtual reality (VR) exercises, interactive coaching, and on-demand classes, which provide variety and incentive.
Many cardiovascular training equipment manufacturers are developing connected fitness systems that will allow users to track their exercises, evaluate performance data, and establish fitness objectives. Users may sync their data, track progress, and engage in challenges and contests by using the integration of smartphone applications, wearable fitness trackers, and internet platforms. Connected fitness ecosystems provide tailored exercise recommendations, data-driven insights, and social elements to foster community involvement and support.
![Smart Home Gym Equipment Market Revenue Share, By End User, (2023) Smart Home Gym Equipment Market Revenue Share, By End User, (2023)](https://cdn.gminsights.com/image/rd/consumer-goods/smart-home-gym-equipment-market-revenue-share-by-end-user-2024-2032.webp)
Based on end user, the global smart home gym equipment market is categorized into professional, beginner. In 2023, the medium professional end user segment accounted for revenue of around USD 2.54 billion in the year 2023 and expected to reach USD 3.91 billion by 2032. Medium price range smart home equipment such as, fitness trackers and smartwatches offer a range of features like heart rate monitoring, activity tracking, sleep analysis, and GPS for tracking outdoor workouts. They provide comprehensive fitness data and may integrate with smart home gym equipment for enhanced workouts.
On the other hand, affordable and versatile, resistance bands and loops offer a wide range of exercises for strength training, flexibility, and rehabilitation. Some smart versions may include sensors to track workouts and provide feedback. Furthermore, premium treadmills and ellipticals come with advanced features like interactive touchscreens, immersive workout experiences, live streaming classes, and personalized training programs. They often integrate with virtual reality and augmented reality for an immersive workout experience. High-end strength training equipment such as smart weight machines and adjustable dumbbells offer advanced features like automatic weight adjustments, performance tracking, and AI-powered coaching. They provide a comprehensive strength training experience tailored to individual fitness goals.
![North America Smart Home Gym Equipment Market Size, 2021 - 2032 (USD Million) North America Smart Home Gym Equipment Market Size, 2021 - 2032 (USD Million)](https://cdn.gminsights.com/image/rd/consumer-goods/north-america-smart-home-gym-equipment-market-size-2024-2032.webp)
North America dominated the global smart home gym equipment market with revenue of around USD 1.46 billion in the year 2023 and expected to reach around USD 2.25 billion by 2032. North America has a strong health and fitness culture, with a growing emphasis on physical well-being and staying active. Consumers are becoming more health-conscious and prioritizing fitness as part of their daily routines, which is driving up demand for smart home gym equipment.
Home exercises are becoming increasingly popular among North American customers, owing to considerations such as hectic schedules, restricted time, and a need for privacy and convenience. Many people prefer the flexibility of exercising at home, which allows them to personalize their routines to their schedules and tastes without being limited by gym hours or transportation.
Manufacturers in North America are always developing and introducing new features and technology to improve the functionality and use of smart home gym equipment. Smart exercise equipment is gradually incorporating advanced features like virtual reality (VR) workouts, artificial intelligence (AI) coaching, and biometric tracking.
North America: In terms of country, the US dominating with the overall market share of around 78% in the North America smart home gym equipment market. The market in the US is driven by factors such as rising health consciousness, the convenience of working out at home, and technological advancements.
On the other hand, Canada market expressing notable growth rate of around 4.5% in 2023. Market growth in Canada is driven by factors such as the growing popularity of virtual fitness classes and online personal training has fueled the demand for smart home gym equipment in Canada.
Europe: The Europe smart home gym equipment market was valued at around USD 1,084 Million in 2023 and is anticipated to register a CAGR of 4.6% between 2024 to 2032. One of the key drivers of this rise is Europeans' rising awareness of the benefits of living a healthy lifestyle. Another important aspect boosting Smart Home Gym Equipment sales in Europe is its convenience.
In terms of country, Germany is dominating the Europe market in terms of market value of around USD 227 Million during the 2023. Germany has seen a rise in health and fitness consciousness among its population. With people becoming more aware of the importance of regular exercise for overall well-being, there's a growing demand for smart home gym equipment to facilitate convenient workouts.
On the other hand, the France is experiencing notable growth in the smart home gym equipment market and is anticipated to grow at 4.7% CAGR during the forecast period. There's a growing trend towards smart and connected fitness equipment in France, with features such as Bluetooth connectivity, touchscreen displays, and integrated workout apps. These high-tech features provide users with interactive and personalized workout experiences, enhancing motivation and engagement.
Asia Pacific: The Asia Pacific smart home gym equipment market was valued at around USD 866 Million in 2023 and is anticipated to register a CAGR of 6.1% between 2024 to 2032. One of the key drivers of Asia Pacific smart home gym equipment is raising awareness of the benefits of living a healthy lifestyle.
In terms of country, China is dominating the Asia Pacific market in terms of market value around USD 278 Million in the year 2023 and expected to reach around USD 485 Million by 2032. China has witnessed a growing trend towards health and fitness consciousness, particularly among urban populations. With increasing disposable incomes and awareness of the importance of fitness, there's a growing demand for smart home gym equipment.
On the other hand, India is emerging as a fastest growing country for the market in terms of CAGR of 6.7% between 2024 to 2032. India's urban population is growing rapidly, leading to an increased demand for smart home gym equipment in urban areas where space is often limited. Compact and space-saving fitness solutions are popular among urban users looking to stay active at home.
Smart Home Gym Equipment Market Share
![Smart Home Gym Equipment Company Market Share Analysis (2023) Smart Home Gym Equipment Company Market Share Analysis (2023)](https://cdn.gminsights.com/image/rd/consumer-goods/smart-home-gym-equipment-company-market-share-analysis-2024-2032.webp)
Key players involve in the market are Life Fitness, Technogym S.p.A, Peloton Interactive Inc., Precor and Tonal Systems Inc. accounting market share of 20-22% in 2023. Manufacturers are constantly innovating and improving their products to meet the evolving needs and preferences of consumers. This competition has resulted in a wide range of equipment options, from traditional weightlifting machines to advance machine, high-tech devices that incorporate virtual reality and artificial intelligence.
Manufacturers are also competing based on features and functionality. This includes offering equipment with a variety of workout options, such as resistance levels, adjustable weights, and built-in workout programs. Some manufacturers are even incorporating smart technology into their products, allowing users to track their progress, set goals, and receive personalized workout recommendations.
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.
Smart Home Gym Equipment Industry News
- In March 2024, EGYM introduced the new EGYM Hip Thrust, strengthen the muscle groups of the lower body with a focus on the glutes and hamstrings. The EGYM Hip Thrust is the world’s first fully electronic hip thrust device and uses smart weights instead of physical weights or resistance bands.
- In March 2024, Precor, a fitness solution provider announced its exclusive partnership with Glutebuilder, a trailblazer in innovative and biomechanically focused designs, to introduce an all-new line of patent-pending glute training products. This line sets new benchmarks in the plate-loaded glute equipment category. With unique and unparalleled biomechanics, these Glutebuilder machines offer exceptional adjustability, setting a new standard for glute training in the fitness industry.
- In May 2023, Aroleap introduce its new flagship product, Aroleap X, a wall-mounted smart home gym that uses motor-powered electromagnetic resistances to provide a data-driven workout experience to the user. The digital-weights technology is patent-protected, making Aroleap the only company in India that builds and sells products in the connected strength space.
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
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