South America Connected Gym Equipment Market Analysis, Size, and Share by 2028
Historic Data: 2019-2020 | Base Year: 2021 | Forecast Period: 2022-2028South America Connected Gym Equipment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Cardiovascular Training and Strength Training) and End-Users (Residential, Gym, and Other Commercial Users)
- Report Date : Jul 2021
- Report Code : TIPRE00023450
- Category : Electronics and Semiconductor
- Status : Published
- Available Report Formats :
- No. of Pages : 83
The SAM connected gym equipment market is expected to grow from US$ 35.38 million in 2021 to US$ 181.62 million by 2028; it is estimated to grow at a CAGR of 26.3% from 2021 to 2028.
Brazil and Argentina are major economies in SAM region. Burgeoning technological advancement in connected gym equipment is expected to escalate the SAM connected gym equipment market. It is true that people must manage their health, but they have very limited time to do physical activities and exercises considering their busy schedule. Connected gym equipment helps the user to save their time and do their work out effectively. Integration of gym equipment with smart devices has made gyming quite easier. Users can just leave for a walk and monitor the distance travelled, time travelled and number of steps on their smart watch. Few new are able to adjust users’ resistance and/or speed automatically, so that they do not need to fiddle with buttons or knobs during the workout session. Some latest equipment has also got heart rate monitors, so that one can glance at the screen to how hard they are working out. Popular fitness apps like Fitbit are used is keeping all stats at one place. Smart treadmills allow several types of exercises on a one machine. Such exercises include jogging, running, walking, sprinting, and even simulated hiking if one has a machine that can incline. Using high speed internet, users can connect and workout together from different parts of the region at the same time. With smart mirrors for a Yoga classes, one can see the instructor as well as his/her own reflection in the mirror, thus making it easy to check the postures. All these factors are estimated to boost the SAM market growth for the forecast period.
In case of COVID-19, SAM is highly affected, especially Brazil. Government authorities in SAM region have taken required actions to protect their people from the infection of COVID-19. Connected gym equipment market has taken a serious hit in the countries like Argentina, Brazil, Chile, and Peru. Since one equipment is used by many people at gym, there are very high chances of spread of corona virus disease. That is why several travel restrictions were imposed. Since gyms are categorized under non-essential services, governments have put serious restrictions on them, and they are facing serious issues from almost a year now. Cardiovascular training and strength training where connected gym equipment are used extensively have experienced sharp decline in the use of these products. The travel bans, factory shutdowns, border lockdowns and import-export restrictions to combat the outbreak of corona virus have impacted the supply, production and sales of various raw material that are needed for the manufacturing of gym equipment. Due to various limitations, the manufacturing of such gym equipment has also declined, resulting in lesser production and procurement. All the mentioned factors have impacted the connected gym equipment market negatively. Because of signs of second and third wave of corona virus cases, it is difficult to predict the future of this market. However, this market seems to have a promising future when situation comes back to normal.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the SAM connected gym equipment market. The SAM connected gym equipment market is expected to grow at a good CAGR during the forecast period.
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
SAM Connected Gym Equipment Market Segmentation
SAM Connected Gym Equipment Market – By Type
- Cardiovascular Training
- Strength Training
SAM Connected Gym Equipment Market – By End-Users
- Residential
- Gym
- Other Commercial Users
SAM Connected Gym Equipment Market, by Country
- Brazil
- Argentina
- Rest of SAM
SAM Connected Gym Equipment Market -Companies Mentioned
- Cybex International, Inc.
- Johnson Health Tech
- LES MILLS INTERNATIONAL LTD
- Life Fitness
- Technogym S.p.A
South America Connected Gym Equipment Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 35.38 Million |
| Market Size by 2028 | US$ 181.62 Million |
| Global CAGR (2021 - 2028) | 26.3% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
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- Cybex International, Inc.
- Johnson Health Tech
- LES MILLS INTERNATIONAL LTD
- Life Fitness
- Technogym S.p.A
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