Vantage Market Research
Nov 14, 2021
According to analysts at Vantage Market Research, the Interactive Fitness Market is expected to reach USD 7556 Million by 2028, growing at a CAGR of 8.3% between 2021 and 2028. Trends like smartphone applications, advanced sensors, advanced data analysis, and implantation of technology with the human body, are factors boosting growth in the global interactive fitness market.
Key Findings
- The Fitness Equipment is projected to expand over 5.8% CAGR over the forecast period. Interactive fitness equipment machines which are required for controlling and maintaining the overall weight, developing muscular strength, and improving physical stamina are some factors growing the market rapidly.
- The residential held a market share of more than 39% in 2020. The fact is driven by the growing population in urban is a bid to meet their fitness goals. Thus, the demand in the residential segment is increasing and fueling growth in the end-user segment.
- North America is expected to expand at a CAGR of over 6.2% from 2021 to 2028. This surge is attributed to the rising curiosity in individuals to keep track on his/her fitness in a busy lifestyle is driving the demand in this region.
Some of the key players in the Interactive Fitness Market are Nexersys Corp, Nautilus Inc., Echelon Fitness LLC, Axtion Technology LLC, Peloton Interactive Inc., Motion Fitness LLC., Interactive Fitness Holdings LLC, SMARTfit Inc., are among others.
Many of the exercise games are very interactive and they offer a multiplayer experience with many different people playing on different skill levels. This fosters a feeling of friendship among the players. The nature of some of the games gives a sense of community as the common goals are attained in it as a team. The focus of the players is on a television screen often and is not on each other, it reduced body self-consciousness and these are some facts that are driving the growth in the Interactive Fitness market.
The games deliver the level of activity that is similar to the people who run, and sometimes even surpasses it. The other physical benefits of these games are increased agility, improvement in speed, coordination, sense of rhythm, reaction time. The main beauty of this is the skills you gain by playing them can be applied to the real world and this is the factor boosting the market growth.
Asia Pacific is poised to record a substantial CAGR, owing to the demand is huge in countries like China and India as the obesity rate and awareness about physical fitness is increasing, availability of various digital devices in the market easily are some factors driving growth in the Asia Pacific.