The Demand for Fitness Equipment on the Rise as Health Awareness Grows
In the last decade, fitness and fitness equipment have gained popularity owing to the growing health and fitness concerns among the young generation. The rise in the number of incidences related to obesity especially in the developed regions such as North America and Europe have encouraged the adoption of fitness equipment. A recent report published by Progressive Markets offers valuable insights related to the fitness equipment market, such as market share, size, and growth.
The market players operating in the market are focusing on developing innovative fitness equipment that are cost-effective and user-friendly. Further, growing awareness related to health and fitness and encouragement from the government is major factor that is boosting the growth of the fitness equipment market. In the next decade, it won’t come as surprise to see modern fitness facilities spread across. Not only in the developed regions, but also in the emerging economies.
New fitness equipment introduced by the YMCA
The YMCA has taken a step ahead by introducing a new range of fitness equipment. They replacing their old cardio equipment. The aim of the organization is to help the individuals to get closer to their fitness goals. The new equipment is more effective and offers great benefit to the body with safe movement.
Most of all modern fitness equipment are engaging and integrated with a monitor on each machine. With the help of the monitor, one can track progress, view a training video, watch TV, listen to music, and browse the internet while working out. An example of a machine that is manufactured to work specific muscles is Lateral X Trainer. It is designed in a way to engage more hip muscle with an aim to increase hip strength. This is achieved by incorporating the side-to-side motion with forward and back motion.
A couple of Wood way treadmills are also included in the new fitness equipment. The aforementioned equipment have a low impact rubber flat running surface to offer a low impact running surface. Some of the other machines are manufactured to offer assistance. Assistance in recovering from a serious injury or rehabilitation following advice from a medical professional. The cycling studio at the facility has been revamped with the entry of 14 Keiser bikes that are computerized for safe, regular, and effective workout routines.
The introduction of modern fitness equipment has intrigued individuals with the added features. As the awareness related to health and fitness is on the rise, the fitness equipment market is expected to grow in the next decade.
Partnerships and acquisitions on the rise in the fitness equipment industry
In recent times, the fitness equipment industry has witnessed a number of acquisitions and collaborations. Bigger firms bought mall-scale companies to establish a strong presence in the market.
Fitbit has gained popularity over the years due to multiple products developed by the company. Trackers and wireless-enabled wearable technology that have the ability to measure and monitor data such as number of steps walked, heart rate, steps climbed and quality of sleep. Fitbit has a few top-selling fitness trackers but it may soon saturate over the course of time. The company has recognized that success lies in partnerships. In 2016, Fitbit partnered with Amazon Echo and NBA 2K17. They offered in-game bonuses to those individuals that hit their goals. In 2017, the company has lined up a few partnerships. That includes a nutrition site and two innovative take on stationary bikes.
With the deal lined up with the sports nutrition site, Habit, Fitbit will help the company to utilize the data that is in Fitbit’s database. They create food recommendations and other fitness plans through a personalized nutrition service. The service makes use of data such as weight, body fat percentage and calories burned to create meal plans based on individual requirement.
Vyze is a prominent cloud-based financial technology solutions for the retailers and manufacturers. Vyze announced a partnership with ICON Health and Fitness. Also Vyze become the largest manufacturer and distributor of fitness equipment. ICON chose Vyze to offer consumer financing solutions to the online customers presenting them with an enhanced and broader customer base. Also Vyze launched its eCommerce solution that incorporates ICON’s current eCommerce platform easily and also the digital shopping carts of the company’s online brands such as NordicTrack and Proform.
Ryan Dunkley, vice president of marketing, ICON, said:
“In Vyze, we see a partner with the technology to support all of our brands today. We also see a partner that has the ability to scale with ICON as we grow and serve all of our customers. Its no matter how they shop now and will shop in the future.”
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In conclusion fitness and health has gained importance among the younger generation. Also the demand for efficient fitness equipment has shown a steady growth in the last few years. The market is thriving in the developed economies such as the U.S. and Canada. They owing to the large number of people with obesity.
However, with proactive government initiatives and multiple organizations offering various fitness solutions, the fitness equipment market is staring at a bright future.