Axtion Technology LLC, Echelon Fitness Multimedia LLC, EGYM Inc., to Emerge as Key Interactive Fitness Market Players - A Technavio Exclusive Report

Growing Awareness about Fitness and Healthy Lifestyle to Drive Market Growth.

• There has been a high risk of health conditions such as anxiety, obesity, type 2 diabetes, and osteoporosis due to the adoption of a sedentary lifestyle, hectic work schedules, and lack of physical activity.
• These issues have further encouraged and forced people to undertake some form of exercise daily to prevent health-related disorders. Thus, increasing awareness about the importance of a healthy lifestyle has led to a rise in the demand for various fitness activities, including interactive fitness.
• Moreover, interactive fitness products provide better flexibility to consumers, which, in turn, can help prevent major body injuries and aches and pains. In addition, social media platforms including Twitter and Facebook are helping in creating awareness about a healthy lifestyle and the ways to achieve that through various fitness and training activities, such as interactive fitness.

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Lack of Awareness and Market Penetration in Emerging Economies to Hinder Growth.

• Tier-2 and Tier-3 cities in emerging countries face challenges such as the lack of knowledge about the latest interactive fitness products and a shortage of trainers that can guide people about the latest types of interactive fitness products available in the market.
• In addition, the lack of well-established infrastructure and low awareness about interactive fitness products restrict both the production and adoption of such equipment. Furthermore, price consciousness among people is a major challenge that restricts the adoption of various technically advanced interactive fitness equipment and products.

Non-residential Segment Accounted for the Largest Interactive Fitness Market Share in 2020.

• Based on end-user, the interactive fitness market is classified into non-residential and residential segments. In 2020, the non-residential end-user segment held the largest share mainly due to the growing popularity of using interactive fitness in major corporate offices, public recreation centers, shopping centers, gymnasiums, and amusement parks.
• The non-residential segment is expected to grow at a high rate during the forecast period, owing to the increasing demand for interactive fitness from commercial office buildings and hospitality establishments, particularly in North America.
• The growth of the hospitality sector has created significant opportunities for providers of interactive fitness to expand their customer base in the commercial end-user segment.

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North America Emerges as the fastest growing regional segment.

• Based on geography, the interactive fitness market is segmented into North America, Europe, APAC, South America, and MEA. In 2020, North America became the largest revenue-generating region of interactive fitness market due to the presence of a well-developed health and fitness industry.
• By 2025, North America will further account for a contribution of 63% in the overall market growth owing to the high prevalence of obesity and diabetes in the US. Factors such as sedentary lifestyles and unhealthy eating habits of consumers have resulted in rising incidences of diabetes and other chronic health conditions. This has further accelerated the health care costs in the US.
• Hence, there has been a rise in gym memberships by fitness enthusiasts. The rise in health consciousness and an increase in government initiatives to encourage fitness activities are among the major factors driving the growth of the market in the country.

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Prominent Player Analysis

• The interactive fitness market is fragmented and the vendors are deploying growth strategies such as the acquisition of new brands to compete in the market. Vendors in the market are focusing on growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
• The interactive fitness market report offers information on several market players, including Axtion Technology LLC, Echelon Fitness Multimedia LLC, EGYM Inc., Evervue USA Inc., Motion Fitness LLC, Nautilus Inc., Nexersys Corp., Paradigm Health and Wellness Inc., Peloton Interactive Inc., and TECHNOGYM Spa among others.
• The market players are competing based on different factors, including price, quality, brand, and variety and follow different strategies to increase their market shares. The acquisition of new brands will provide an opportunity for the leading players in the market to maintain their dominance during the forecast period.

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