PORTLAND, Oregon and PUNE, India, February 1, 2018 /PRNewswire/ —
According to a new report published by Allied Market Research, titled, “Connected Gym Equipment Market by Product and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023,“ the connected gym equipment market size was valued at $159 million in 2016, and is projected to reach $1,048 million by 2023, growing at a CAGR of 31.1% from 2017 to 2023. Cardiovascular training equipment in the global connected gym equipment market possesses a strong customer base. Demand for cardio equipment equipped with CSAFE connectivity, and compatibility with smartphones, iPod, and iPad is relatively much higher in the developed countries including the U.S., UK, and others. In addition, treadmills and stationary bicycles account for the most widely used type of cardiovascular equipment for weight management and overall body fitness.
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Increased adoption of smartphones, rise in health awareness, increase in obese population, and rapid growth in health clubs and gymnasiums drive the growth of the connected gym…