Fitness Equipment Market Trends

Growth Drivers

• Rising prevalence of chronic disease: People are realizing the importance of physical activity for suppressing the consequences of chronic diseases. Some of the common examples of chronic diseases are heart disease, lung cancer, osteoporosis, etc. According to the British Heart Foundation in 2021, globally, 110 million women and 145 million men had coronary heart disease. Fitness trackers help motivate patients towards living a healthier lifestyle by providing feedback and accountability to maintain a regular workout regimen. Fitness devices also effectively track heart rate and keep informing the user about the heart rate. These factors are fueling the demand for fitness equipment amongst the users, further driving the market growth.
• Amalgamation of Internet of Things in a gym environment: Various gym owners are harnessing the benefits of IoT in gyms. The most common examples of IoT fitness tracking devices are wearables, smart training gear, strength training equipment, etc. According to the Health & Fitness Association in June 2022, U.S. health club membership reached over 66 million Americans. As more people are joining gyms, they are opting for fitness equipment to track burned calories and heart rate.
• Increasing inclination towards walking: Walking helps reduce stress, improve sleep and mood, and lower the risk of other chronic diseases. The Texas Heart Institute recommends aiming for 7,000 to 10,000 total steps per day, a target that is ideal for maintaining cardiovascular fitness. Global organizations are highlighting the importance of breaking the sedentary lifestyle. Also, the American Heart Association celebrates April 6^th as World Walking Day. People are adopting fitness trackers to determine how far they have travelled and the kind of activity they are doing.

Challenges

• Concern for data security: Most of the fitness trackers connect with the user’s phone via Bluetooth. This poses potential security loopholes and could allow hackers to access the vital information of the user.
• Over-reliance on numbers: The user generally aims to meet the already set numeric goal, which usually leads to overexertion. Also, in pursuit of reaching the target of calorie or step count, the person can ignore pivotal aspects of fitness.