/PRNewswire/ Set to grow by USD 11.12 billion during 2021-2025, Technavio s latest market research report estimates the connected gym equipment market to.
Connected Gym Equipment Market to record over $11 Bn growth during 2021-2025 prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
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PORTLAND, Ore., May 5, 2021 /PRNewswire/ Allied Market Research published a report, titled, Athletic Equipment and Footwear Market
by Type (Equipment and Footwear): Global Opportunity Analysis and Industry Forecast, 2021–2025. According to the report, the global athletic equipment and footwear industry was estimated at $224.7 billion in 2018, and is expected to hit $323.4 billion by 2025, registering a CAGR of 8.6% from 2021 to 2025.
Drivers, restraints, and opportunities-
Sportswear and footwear have experienced upgradations in their features over the years. This factor drives the growth of the global athletic equipment and footwear market. On the other hand, the availability of counterfeit products restrains the growth to some extent. However, easy availability of such products on online portals and increase in accessibility & convenience of purchasing these products through the internet have paved a way for lucrative opportunities i
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ResearchAndMarkets.com s offering.
The global smart home gym equipment market is anticipated to grow at a CAGR of 9.2% during the forecast period. The growth of the market is driven by the increasing adoption of smart home gym equipment s majorly owing to the recent outbreak of COVID-19 in December 2019. Additionally, the advanced features of the smart gym equipment and online personalized training sessions that simplifies the exercising routine at home are also aiding the high adoption rate of the smart home gym equipment. However, the higher cost of home gym setup, extra space requirements at home are some of the major challenges for the market.
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ResearchAndMarkets.com s offering.
Amid the COVID-19 crisis, the global market for Connected Gym Equipment estimated at US$255.7 Million in the year 2020, is projected to reach a revised size of US$1.5 Billion by 2027, growing at a CAGR of 28.3% over the analysis period 2020-2027. Cardiovascular Training Equipment, one of the segments analyzed in the report, is projected to record a 29.7% CAGR and reach US$913.5 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Strength Training Equipment segment is readjusted to a revised 26.9% CAGR for the next 7-year period.