Westford, USA, Dec. 06, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Global Interactive Fitness Market Share will reach a value of USD 10.03 Billion by 2031, with a CAGR of 8.5% during the forecast period (2024-2031). The high consumption of fast food, busy work schedules, and a growing number of sedentary lifestyles are the major contributors to the emphasis on increasing fitness and health awareness, expected to support the interactive fitness market during the forecast period. Technological advancements in the interactive fitness industry, and increased adoption of wearables to track fitness and health data, are factors driving revenue growth in this market. Some of the essential interactive fitness market trends include more technologically sophisticated devices, equipment, and solutions with novel and distinct features, and growing customer bases of tech savvy consumers with increasing disposable income.
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Browse in-depth TOC on the "Interactive Fitness Market"
Pages – 157
Tables – 116
Figures – 77
Interactive Fitness Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 5.24 Billion |
| Estimated Value by 2031 | USD 10.03 Billion |
| Growth Rate | Poised to grow at a CAGR of 8.5% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Application, End User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Digital Engagement Aids Interactive fitness market |
| Key Market Opportunities | Integration with Health Apps |
| Key Market Drivers | Rise of Home Workouts |
Rise of Fitness Equipment Dominance Fueled by Health Consciousness
As per the interactive fitness market forecast, the fitness equipment segment will have the highest CAGR, at 8.9%, by the projection year. The primary reason for this spectacular growth is the remarkable increase in health consciousness amongst people since more people consider their physical well-being to have a higher priority. In addition, due to the lockdown periods, sales increased significantly with an extraordinary growth of 170%. The segment is expected to grow higher within the next few years, since personal fitness and working out at home will continue.
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Role of Internet Access in Residential Fitness Revenue Rise
Residential revenues are anticipated to rise. With the increasing threat of cardiovascular disease, obesity, hectic work schedules, and stress, people tend to engage in interactive physical activities and leisure. The urban population's growing awareness about fitness is one of the key drivers. In addition, access to the Internet and IoT expansion will grow the global interactive fitness market growth in the residential sector.
Health Concerns Fuel North America's Fitness Market Leadership
North America was the largest revenue region throughout the forecast period. This is because of the growing rate of obesity and increased awareness of health and physical fitness. In 2023, North America held 51.5% of the market value globally. The obesity rate among adults in America has increased by 1.8% annually to 33.0 persons per 100, according to IBIS. The issue compelled many to find exercise activities and healthy living options. Availability of more advanced digital gadgets further pushes the global interactive fitness industry in North America.
Interactive Fitness Market Insights
Drivers
- Increased Health Awareness
- Rise of Home Workouts
- Personalized Fitness Programs
Restraints
- High Subscription Costs
- Resistance to Change
- Keeping Up with Rapid Changes
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Segments covered in Interactive Fitness Market are as follows:
- Product
- Fitness Equipment, Software System
- Application
- Gym, Household
- End-User
- Residential, Non-residential
Key Players Operating Within the Interactive Fitness Market
- Mirror
- Tonal
- Hydrow Inc.
- Tempo
- Proform
- NordicTrack
- Matrix Fitness
- Nautilus, Inc.
- Flywheel Sports Inc.
- MYXfitness
Key Questions Covered in the Global Interactive Fitness Market Report
- What are the factors restricting the growth of the market?
- Who are the key vendors operating within the market?
- Which region accounted for the largest share in 2023?
- What are the key interactive fitness market trends?
- By what % of CAGR, is the market expected to grow?
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This report provides the following insights:
- Analysis of key drivers (rise of home workouts, personalized fitness programs), restraints (high subscription costs, resistance to change) opportunities (corporate wellness programs, integration with health apps), and challenges (maintaining user engagement) influencing the growth of the interactive fitness market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the interactive fitness market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the interactive fitness market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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