Key vendors to focus on product differentiation to keep pace with the competition in the market.
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five vendors for the global connected gym equipment market in their latest research report. This report also lists five other prominent vendors who are expected to contribute to this market’s growth between 2017-2021.
Competitive vendor landscape
The global market for connected gym equipment is highly competitive in nature. The market space is characterized by the presence of both large and small players who compete aggressively to gain market shares. Product differentiation, pricing, product portfolios, and value-added services are some of the key criteria that vendors in the market space compete based upon. It is imperative for vendors in the global connected gym equipment market to differentiate their product and service offerings through a clear and unique value proposition in order to sustain in the highly competitive market.
According to Abhay Sinha, a lead analyst at Technavio for research on retail goods and services, “Several vendors in the market space are focusing on the development of new and innovative connected gym equipment that differentiates themselves in the marketplace. Development of new products is highly dependent on financial investments made by the vendors.”
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Top five vendors in the connected gym equipment market space
eGym
eGym engages in development, manufacture, and sales of products for the fitness industry. eGym provides electronic fitness equipment and equipment software. The company’s strength equipment is associated with more than 650 gyms across Europe. The company’s eGym Trainer app is used in over 750 gyms across the Germany.
Key products: eGym Fitness app.
LES MILLS INTERNATIONAL
LES MILLS INTERNATIONAL provides team training programs for gyms and clubs worldwide. The company also engages in the sales of equipment, clothing, music products, and nutrition products. LES MILLS INTERNATIONAL offers fitness services in the areas of plyos, strength, weights, cardio, indoor cycling, martial arts, and 30-minute high-intensity interval training.
Key products: LES MILLS SMARTBAND, LES MILLS SMARTBAR, and LES MILLS SMARTSTEP.
Life Fitness
Life Fitness engages in design, manufacture, and marketing of high-quality cardiovascular fitness equipment and strength-training equipment under the Life Fitness, Hammer Strength, SCIFIT and Cybex brands. It markets and sells its products through distributors in the US and internationally.
Key products: Life Fitness app.
Precor
Precor engages in the manufacture, marketing, and sales of fitness and gym equipment. It provides pre-sales and after-sales support services which include member attraction initiatives, financing options, facility designs, and planning services. It caters to end-users such as health clubs, corporate wellness, education, the federal government, fire departments, hospitality and spa, law enforcement, medical and rehabilitation, multi-family housing, and parks, and recreation.
Key products: Preva.
Technogym
Technogym engages in designing and manufacturing of fitness equipment. It offers educational content and training services for business operators, personal trainers, staff, and clients; and financial services. It serves universities, colleges, military facilities, residential buildings, and individuals.
Key products: BC-1500 Ironman Radio wireless segmental body composition monitor, WB-800S Plus digital scale with BMI function.
A more detailed analysis is available in the Technavio report, Global Connected Gym Equipment Market 2017-2021. Technavio also customizes reports by other regions and specific segments upon request.
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