According to a research report titled ‘Global Connected Fitness Market - Analysis By Type (Hardware, Software), Application, End Use, By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)’, available with MarketStudyReport, global connected fitness market accrued USD 1068.10 million in the year 2020 and is projected to garner significant returns by 2026.

Global connected fitness market expansion is attributed to the increased fitness and wellness knowledge among individuals across the world, as well as the accelerated digitalization of several industrial sectors on a global scale.

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Simultaneously, introduction of fitness gears & devices which enable the analyzing, monitoring, and tracking of workouts, along with popularity of such equipment among fitness enthusiasts and athletes are impelling the industry share.

As the report cites, a growing number of individuals seem to become physically inactive, which along with rising pervasiveness of obesity are highlighting the importance of being fit & physically active, thus boosting the demand for connected fitness.

Based on types, worldwide connected fitness market is bifurcated into software and hardware. Among these, the software segment is predicted to grow at a substantial rate through 2026, because individuals now are exercising without the supervision of a coach or instructor, and the adaption of technology has become the sole option.

Segmenting the industry based on the application scope into activity tracking, diet & nutrition, and exercise & weight loss. Speaking of the end-use, the market classification comprises health clubs/ gyms, homes, and others.

Moving on to regional landscape, APAC market is expected to account for a substantial revenue share by 2026, owing to the rising working population, combined with the significant urbanization in the region's emerging economies. Parallelly, countries like China, India, and Japan are expected to emerge as lucrative growth avenues for industry players in the coming years.

The leading companies influencing the competitive panorama of global connected fitness market are Performax Sports, Cosco (India) Limited, Under Armour, Inc., Garmin Ltd., Planet Fitness, Inc., Peloton Interactive, Inc., YETI Holdings, Inc., Callaway Golf Company, Nike, Inc., and Fitbit.