Global Fitness & Health Clubs Market is valued at USD 86.11 Billion in 2018 And Expected to Reach USD 131.89 Billion by 2025 with the CAGR of 6.28% over the forecast period.
Global Fitness Industry Scope:
The fitness industry aims at maintaining a healthy lifestyle of individuals by providing exercise equipment and retains health of the body. The fitness industry comprises of fitness centers like gyms, fitness equipment centers and weight loss centers. The fitness businesses primarily provide infrastructure such as space, equipment and training in exchange for a membership fee. Gyms use various equipments for cardio and weight training and included some personal training facilities. In fitness industry, currently the main problems are that there is not ant satisfactory regulation requiring certification or specific training for an individual to work in the gym centers or public. The main objective of the fitness industry is to offer better fitness services and equipments that can maintain health and wellness of an individual. Other companies of the fitness industry are partnered with gyms and fitness centers, sporting goods and clothing.
Global Fitness IndustryDynamics:
Increasing disposable income, rise in health awareness among people about benefits of maintaining a healthy lifestyle, growing prevalence of obesity and rising number of gyms and health clubs major factors contributed to an increasing demand of the global fitness industry market. For example; in 2015, the CDC stated that around 16.18 % of U.S. children aged between 2 to 19 living with obesity, where 15.2 % of that age group was measured to overweight. Number of people making fitness a lifestyle as their very first choice, and the gym culture across the worldwide is expected to continue rise rapidly. Gym centers have attracted fitness freak clients by offering modern cardiovascular and exercise equipment, specified fitness training styles and luxurious surroundings. Additionally, a regular exercise helps in reducing stress, depression, anxiety and other health related issues. The rise of obesity is forcing pushing people not only towards a nutritious diet but also daily exercises which enhances the demand for fitness market.
The fitness machinery and the exercise are shaping the future of fitness industry which is driven by technology and demographic changes. Tech companies and fitness brands are trying to develop new virtual workout technologies from fitness apps to wearable and also connected home solutions which are better than traditional fitness models. The combination of changing consumers’ expectations with digital innovation is driving the growth of premium luxury gyms and home fitness equipments. Fitness centers have already started combining more technology and elements of wellness throughout the gym experience.
Top FitnessIndustry Trends 2020:
- FitnessIndustry Trends 1-Wearable Technology
Wearable technology has become one of the huge fitness industry trends. It includes several fitness monitoring deices such as fitness trackers, smart watches, HR monitors, and GPS tracking devices. These types of fitness activity trackers are being manufactured by Samsung Gear, Fitbit, Misfit, Garmin and Apple. Wearable device technology is being used not only to track members’ performance but to attract prospects, engage members and increase retention. In 2019, Google has introduced an offer to purchase Fitbit for USD 2.1 billion, which is a dramatic endorsement of wearable’s potential in a marketplace including fitness, wellness, medicine and healthcare. Over the period of time, wearable fitness trends become more sophisticated and are specialized to serve new markets as per their use, popularity, and utility that will continue to increase. Wearable technology is now growing at a CAGR of around 33% meaning approximately 200 million units will be shipped by the end of 2020. Demand for fitness wearable’s is increasing at a fast pace, thus tech brands are constantly introducing new AI-enabled wearable technology.
Fitness Industry Trends 2- Personal Training
Personal training is another modern fitness industry trend. Personal training becomes more accessible at remote locations like inn health clubs, in the home and in worksites that have fitness facilities. Specialized training includes fitness testing and goal setting with the trainer working virtually with a client as per their certain fitness needs and goals. According to the survey personal training has been the topmost of fitness industry trend. For example; According to he the United States Department of Labor's Bureau of Labor Statistics predicted that jobs in personal training and fitness education will going to increase by around 25% between 2010 and 2020. Major organizations like the National Strength and Conditioning Association (NSCA) are moving towards for the high standards for personal trainers. For the certified personal trainers multiple options are available to work in various public environments including gym centers, fitness center or a specialized training center. Personal trainers also have the option to exercise with clients at their homes or offices.
Fitness Industry Trends 3- Mobile based Fitness Applications
Mobile based applications have taken smartphone usage to the succeeding level and this accessibility given people more opportunities to demand more, which is the most popular fitness industry trend in 2020. One such demand is fitness applications. From diet trackers to drinking water reminders people have been increasingly downloading such fitness apps. They are looking for customized health and fitness apps that provide them detailed information, help track fitness metrics, give nutrition and diet plans and also supports them in purchasing new fitness related goods. In addition to above fitness industry trends, numerous gyms, fitness centers, sports apparel brands and fitness equipment companies have now collaborated on the league and launched their fitness apps. Fitness app with the right APIs including check-in to social media, automated photo sharing ability to social media platforms can able to make a gym’s online visibility more clear and identify social media presence.
Fitness Industry Trends 4- Chatbots
Another fitness industry trend is chatbot. In recent years, it becomes a necessary things being primarily used in almost every businesses where fitness companies can easily communicate with their existing and potential customers online. Chatbots can perform as digital assistants and is one of the most important technological revolutions developed for businesses. Also, it has become a powerful tool in the fitness industry in order to improve the experience for their customers. Chatbots can help as nutritional consultants, workout partners and personal trainers. It finds customer’s changing needs, creates a specialized diet and fitness plan and gives timely reminders to customers for their workout and food need. All these Fitness industry trends will spur the growth of chatbots.