GITNUX REPORT 2024

Home Fitness Industry Statistics: Market Booms with 2020 Surge

Home fitness industry booming: $26.9B projection by 2025, Pelotons 66% revenue increase, and virtual reality trends.

Author: Jannik Lindner

First published: 7/17/2024

Statistic 1

32% of Americans prefer exercising at home to going to a gym.

Statistic 2

45% of people who bought a fitness tracker in 2020 were first-time buyers.

Statistic 3

68% of households with an income of $100,000 or more own home exercise equipment.

Statistic 4

59% of consumers plan to continue using online fitness classes post-pandemic.

Statistic 5

54% of gym members canceled their memberships in 2020 and turned to home fitness.

Statistic 6

47% of Americans plan to continue their home workout routines even post-pandemic.

Statistic 7

The home fitness industry is projected to reach $26.9 billion by 2025.

Statistic 8

The global smart fitness equipment market is expected to grow at a CAGR of 8.2% from 2020 to 2027.

Statistic 9

The global fitness app market is forecasted to reach $15.96 billion by 2027.

Statistic 10

Virtual reality fitness revenue is expected to reach $2.4 billion by 2026.

Statistic 11

Over 22 million Americans will use a connected home fitness machine by 2025.

Statistic 12

The global home gym equipment market was valued at $13.64 billion in 2020.

Statistic 13

The global fitness equipment market is projected to reach $17.8 billion by 2027.

Statistic 14

The global home fitness equipment market is expected to grow at a CAGR of 4.4% from 2021 to 2028.

Statistic 15

The digital fitness market is projected to reach $27.4 billion by 2022.

Statistic 16

Online fitness subscription services increased by 27% in 2020.

Statistic 17

The smart home gym market is expected to grow at a CAGR of 6.9% from 2020 to 2027.

Statistic 18

The connected home fitness market is estimated to be worth $37 billion by 2023.

Statistic 19

By 2023, wearable fitness device users are expected to reach over 1.1 billion worldwide.

Statistic 20

The global online fitness market is estimated to be worth $59.23 billion by 2027.

Statistic 21

The global fitness equipment rental market is projected to grow at a CAGR of 22.5% from 2021 to 2028.

Statistic 22

The market for smart workout gear is projected to reach $1.86 billion by 2026.

Statistic 23

The digital health technology market, including fitness apps, is expected to surpass $379.5 billion by 2025.

Statistic 24

Online fitness classes saw a 147% increase in users in 2020.

Statistic 25

The connected fitness equipment market is expected to grow at a CAGR of 5.9% from 2021 to 2028.

Statistic 26

The fitness app market experienced a growth rate of 46% in 2020.

Statistic 27

Online coaching services for fitness and wellness grew by 63% in 2020.

Statistic 28

The global demand for home fitness equipment is projected to double by 2026.

Statistic 29

The home fitness industry grew by 21% in 2020.

Statistic 30

Online fitness classes saw a 210% increase in participation in 2020.

Statistic 31

The virtual fitness industry is expected to grow at a rate of 30.2% from 2020 to 2027.

Statistic 32

In 2020, sales of yoga and pilates equipment for home use increased by 89%.

Statistic 33

The sales of kettlebells increased by 239% in 2020.

Statistic 34

Demand for home gym equipment grew by 55% in 2020.

Statistic 35

Sales of resistance bands increased by 191% in 2020.

Statistic 36

Sales of stationary bikes for home use increased by 87% in 2020.

Statistic 37

Sales of fitness apps increased by 46% in 2020.

Statistic 38

Sales of home fitness DVDs increased by 77% in 2020.

Statistic 39

Peloton's revenue increased by 66% in 2020.

Statistic 40

Online personal training revenues increased by 45% in 2020.

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Summary

  • The home fitness industry is projected to reach $26.9 billion by 2025.
  • 32% of Americans prefer exercising at home to going to a gym.
  • Peloton's revenue increased by 66% in 2020.
  • In 2020, sales of yoga and pilates equipment for home use increased by 89%.
  • The global smart fitness equipment market is expected to grow at a CAGR of 8.2% from 2020 to 2027.
  • Online fitness classes saw a 147% increase in users in 2020.
  • The global fitness app market is forecasted to reach $15.96 billion by 2027.
  • The sales of kettlebells increased by 239% in 2020.
  • Demand for home gym equipment grew by 55% in 2020.
  • Virtual reality fitness revenue is expected to reach $2.4 billion by 2026.
  • Online personal training revenues increased by 45% in 2020.
  • The connected fitness equipment market is expected to grow at a CAGR of 5.9% from 2021 to 2028.
  • Over 22 million Americans will use a connected home fitness machine by 2025.
  • Sales of resistance bands increased by 191% in 2020.
  • The global home gym equipment market was valued at $13.64 billion in 2020.

Get ready to break a sweat and save some cash because the home fitness revolution is here to stay! With the industry projected to reach a staggering $26.9 billion by 2025, its no wonder that 32% of Americans are opting for their living room over the gym. Peloton is riding high with a 66% revenue boost in 2020, while sales of yoga and pilates equipment for home use soared by 89%. The numbers dont lie – from virtual reality workouts to online coaching services, the fitness world is at our fingertips and the only thing shrinking faster than our waistlines is the distance to the couch.

Consumer Preferences and Behavior

  • 32% of Americans prefer exercising at home to going to a gym.
  • 45% of people who bought a fitness tracker in 2020 were first-time buyers.
  • 68% of households with an income of $100,000 or more own home exercise equipment.
  • 59% of consumers plan to continue using online fitness classes post-pandemic.
  • 54% of gym members canceled their memberships in 2020 and turned to home fitness.
  • 47% of Americans plan to continue their home workout routines even post-pandemic.

Interpretation

The numbers speak for themselves in the ever-evolving landscape of the home fitness industry. As the pandemic reshaped our workout routines, with more people ditching gym memberships for the comfort of their own living rooms, it appears that the allure of home workouts is here to stay. Whether it's the convenience, cost-effectiveness, or simply the joy of sweating it out in solitude, a significant portion of the population has embraced the idea of turning their homes into personal fitness sanctuaries. With the proliferation of online fitness classes and the surge in ownership of home exercise equipment among affluent households, it seems that the traditional gym model may need to break a sweat to keep up with the changing demands of fitness enthusiasts.

Market Forecast and Projections

  • The home fitness industry is projected to reach $26.9 billion by 2025.
  • The global smart fitness equipment market is expected to grow at a CAGR of 8.2% from 2020 to 2027.
  • The global fitness app market is forecasted to reach $15.96 billion by 2027.
  • Virtual reality fitness revenue is expected to reach $2.4 billion by 2026.
  • Over 22 million Americans will use a connected home fitness machine by 2025.
  • The global home gym equipment market was valued at $13.64 billion in 2020.
  • The global fitness equipment market is projected to reach $17.8 billion by 2027.
  • The global home fitness equipment market is expected to grow at a CAGR of 4.4% from 2021 to 2028.
  • The digital fitness market is projected to reach $27.4 billion by 2022.
  • Online fitness subscription services increased by 27% in 2020.
  • The smart home gym market is expected to grow at a CAGR of 6.9% from 2020 to 2027.
  • The connected home fitness market is estimated to be worth $37 billion by 2023.
  • By 2023, wearable fitness device users are expected to reach over 1.1 billion worldwide.
  • The global online fitness market is estimated to be worth $59.23 billion by 2027.
  • The global fitness equipment rental market is projected to grow at a CAGR of 22.5% from 2021 to 2028.
  • The market for smart workout gear is projected to reach $1.86 billion by 2026.
  • The digital health technology market, including fitness apps, is expected to surpass $379.5 billion by 2025.

Interpretation

As the numbers sweat it out on the treadmill of the home fitness industry, the statistics reveal a robust journey towards a healthier and tech-savvy future. With a projected $26.9 billion revenue in sight by 2025, it seems our wallets are lifting more than just weights. From smart fitness equipment to virtual reality workouts, the global fitness landscape is shaping up to be a high-tech playground for the health-conscious. With over 22 million Americans poised to embrace connected home fitness machines and wearable fitness devices reaching a staggering 1.1 billion users worldwide by 2023, it's clear that the digital age has taken a firm grip on our desire to break a sweat. So, whether you're renting smart workout gear or subscribing to online fitness services, one thing is certain: the future of fitness is looking both fit and financially rewarding.

Market Growth Projections

  • Online fitness classes saw a 147% increase in users in 2020.
  • The connected fitness equipment market is expected to grow at a CAGR of 5.9% from 2021 to 2028.
  • The fitness app market experienced a growth rate of 46% in 2020.
  • Online coaching services for fitness and wellness grew by 63% in 2020.
  • The global demand for home fitness equipment is projected to double by 2026.
  • The home fitness industry grew by 21% in 2020.
  • Online fitness classes saw a 210% increase in participation in 2020.
  • The virtual fitness industry is expected to grow at a rate of 30.2% from 2020 to 2027.

Interpretation

In a world where our excuses for skipping the gym have dwindled faster than our previous stamina on a treadmill, the numbers don't lie: the home fitness industry is flexing its muscles and showing no signs of slowing down. With online fitness classes seeing participation spike in a virtual frenzy, connected equipment making our living rooms feel more like high-tech gyms, and virtual coaching services sculpting bodies from the comfort of our own homes, it's clear that the global demand for home fitness isn't just a passing trend, it's a full-blown workout revolution. So, dust off that yoga mat, embrace the virtual sweat, and remember, the only thing getting a rest day around here is your old excuse for not working out.

Product Sales Trends

  • In 2020, sales of yoga and pilates equipment for home use increased by 89%.
  • The sales of kettlebells increased by 239% in 2020.
  • Demand for home gym equipment grew by 55% in 2020.
  • Sales of resistance bands increased by 191% in 2020.
  • Sales of stationary bikes for home use increased by 87% in 2020.
  • Sales of fitness apps increased by 46% in 2020.
  • Sales of home fitness DVDs increased by 77% in 2020.

Interpretation

In a year that had us all stuck indoors trying to keep our sanity intact, it seems many of us turned to yoga mats, kettlebells, and resistance bands as our new best friends. With home gym equipment flying off the shelves faster than toilet paper in a pandemic, it's clear that our living rooms transformed into makeshift fitness studios overnight. Who needs a fancy gym membership when you can break a sweat in the comfort of your own home, guided by a virtual trainer or a fitness DVD? Sales figures don't lie - in 2020, our bodies may have been on lockdown, but our commitment to staying fit and healthy was in full swing.

Revenue Increase Trends

  • Peloton's revenue increased by 66% in 2020.
  • Online personal training revenues increased by 45% in 2020.

Interpretation

The Home Fitness Industry is flexing its muscles and breaking a sweat in 2020, with Peloton leading the pack with a whopping 66% revenue increase, showing that even in the comfort of our living rooms, we are willing to splurge on the pursuit of fitness. Meanwhile, online personal training revenues jump by 45%, proving that there is no replacement for a virtual personal trainer's motivating voice in our ears, even when our gym is just a few steps away in the next room. Clearly, our desire for a healthier lifestyle knows no bounds, even if it means breaking a sweat in front of our own screens.

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