According to the 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 2020 and is reckoned to accrue notable gains during the period 2021-2026.

Soaring fitness consciousness among people all over the world, expedited digitization of numerous sectors, hectic lifestyle of people resulting in lack of physical activity, and higher incidence of obesity are factors propelling the growth of global connected fitness market. 

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For those unaware, smart fitness equipment assists in offering a clear and concise view of a person’s health performance by tracking, monitoring, and analyzing their workout routine.

In addition to this, increasing popularity of such devices among professional athletes as well as a strong digital revolution in the field are creating lucrative prospects for businesses in this line of work, thereby further boosting business development.

In terms of product type, the software vertical is expected to grow significantly during the forecast period, owing to consumers' growing proclivity to exercise without the guidance of a trainer or coach, where technology has played a key role owing to the massive digital transformation of the fitness industry, especially after the COVID-19 pandemic. 

From a geographical standpoint, Asia Pacific connected fitness industry is poised to witness exponential expansion during the assessment timeframe, attributed to rising working population and rapid urbanization, particularly in emerging economies like India, China, and Japan. 

The notable players in global connected fitness market are Peloton Interactive Inc., Cosco (India) Ltd., Under Armour Inc., YETI Holdings Inc., Callaway Golf Company, Performax Sports, Planet Fitness, Nike Inc., Garmin Ltd., and Fitbit among others.