The Global Connected Fitness Market was valued at USD 1068.10 Million in the year 2020. (Market Insights)
The pandemic was undoubtedly a catalyst in the boom in consumer spending on home fitness equipment. The trend for connected fitness tech doesn’t look like it’s going to slow down, and many brands in the space are broadening their portfolio. Coupled with an exciting startup scene, it’s time for retailers and distributors to get physical.
3 reasons why you should get on board with connected fitness.
Peloton is paving the way
Peloton has been the leader in the connected fitness space for some time. Peloton's full-year revenues exceed $4 billion and it’s only present in the US, UK, Germany and Canada (with Australia soon to be added to the list). The share price may have dropped in recent days but the expectation is for a rebound. With new markets to enter and its Corporate Wellness programme to develop, there’s still plenty of pedal in the Peloton bike. Peloton has done the hard yards in terms of developing consumer awareness and routes to market which benefits the many up and coming connected fitness brands that make up the smart home gym ecosystem.
Mirror Mirror on the Wall
There are some truly exciting connected fitness products on the market today, and the smart mirror is an interesting category. In 2018, the global smart mirror market was valued at approximately 2.8 billion U.S. dollars. Between 2018 and 2023, this market is anticipated to increase at a compound annual growth rate of 9.41 percent (Statista).
They look like ordinary mirrors but once activated, the mirror maintains your reflection and displays a transparent trainer, workout screen and stats so you can keep track of your technique and follow the onscreen instructions. Mirror (the brand) was bought by LuluLemon last year for $500 million. Other brands in the smart mirror space include red dot winner Vaha, Echelon, Vault by NordicTrack and Tempo.
It’s also worth noting that these mirrors are well designed and warmly reviewed by non tech titles such as Vogue, opening up a broader audience outside of tech fans and fitness fanatics.
Choice and Innovation
There are a growing number of connected fitness categories beyond the traditional exercise bike and rower.
For boxing fans, the Liteboxer is a beat driven worksout system that synchronises music and boxing to give users the ultimate workout. Dribbleup’s smart boxing gloves are a more wallet friendly option. Retailing at $119 USD, they’re a very accessible piece of kit for consumers to try out a connected fitness device. The gloves connect to an app on your smartphone which tracks your activity, reps and boxing skills. The app also comes with a number of training programmes for home boxers to follow.
BlazePod brings the fun to training with their connected reflex training system. The pods are easy to set up and connect with your phone, giving you access to a number of different training programmes. As the concept is simple, there are a myriad of applications and training programmes that can be applied to a range of sports and fitness related activities. The Standard Kit (4 pods) retails at 299 GBP. On the premium side, US based CLMBR is a newcomer to the market and has given the humble step machine a major makeover. Retailing at $2799, the CLMBR is ergonomically designed to take up as little space as possible, and claims to give 86% of the body’s muscles a workout.
Brands in the connect fitness space are also launching products in new categories, pushing the concept of the smart home gym even further. Peloton has just announced a new strength training device. The set top box comes with a camera, and connects to your TV. The device tracks your movement, technique and ‘body activity’ mode to monitor which muscles have been used and suggest alternative programmes to engage the muscles that have not been exercised.