The Future Of The Fitness Industry: Lateral Fitness Equipment
Future Of Fitness Industry: Lateral Fitness Equipment To Play A Major Role
The future of the fitness industry has completely changed over the last few years and the Covid-19 pandemic has played a major role in it. For some people, the gym is a place to socialize and not just a place to work out. But social fitness has become an integral part of people’s lives.
To stay ahead in the industry, fitness centers create a sense of community, offering online support and training and making the atmosphere more intimate. For years, the fitness industry has been driven by people but this trend is going to change in the future.
The global demand for healthy lifestyle and fitness has increased and the demand for fitness equipment is on the rise.
According to Allied Market Research, the global lateral fitness equipment market is expected to reach $10.7 billion by 2027, growing at a CAGR of 10.1% from 2020 to 2027. The rise in awareness about the benefits of physical fitness has encouraged people to turn toward a new method of exercise to stay fit and healthy. The Covid-19 pandemic has fueled the demand for fitness equipment. However, the pandemic was brutal for the fitness industry as fitness centers were closed for a long period. As a result, fitness companies needed to pivot and motivate fitness enthusiasts in other ways to stay fit.
Pivoting
Some fitness centers offered online classes for their customers to help maintain a healthy lifestyle. Overall, the pandemic forced the fitness industry to rethink its business model. Now, the majority of the developed and developing countries have undertaken vaccination drives, which will help fitness centers to get back on track.
The shift toward digital offerings
With the experience of Covid-19 in mind, the fitness industry will shift toward digital offerings. Now, customers demand a combination of online classes, outdoor exercises, and on-demand content to meet their needs and give them flexibility. This trend will define the future of the fitness industry and encourage fitness centers to develop their digital offerings.
During the two years of the pandemic, the demand for cycling fitness apps skyrocketed and health and fitness apps have grown significantly.
While there is no one perfect app for fitness enthusiasts, online engagement has forced the fitness industry to become more tech-savvy and encouraged to offer technology-driven solutions. In short, the future of the fitness industry depends on leveraging technology and offering cutting-edge experiences to its customers.
The fitness centers must offer app-based workouts, on-demand virtual fitness, and live streaming of workout routines.
For fitness professionals, this is a unique opportunity to translate the traditional fitness business model into a hybrid to generate more revenue and tap into a larger consumer base. This trend of digitization may seem temporary but it is a modern and robust solution that would shape the future of the fitness industry.
Cultivating community
As mentioned above, some people consider fitness centers a place to socialize and some consider them a space for introspective self-reflection. Thus, one of the upcoming trends in the fitness industry is cultivating a community as it is a tangible asset. The fitness center’s community spirit would be a huge selling point for new members. Thus, while fitness professionals have turned their heads toward the online community, they must foster off-line community as well to encourage people to connect and engage.
If trainers and fitness professionals are committed to this, they can offer a meaningful experience to their customers, which many need post-pandemic. It is observed that members with strong social connections at their fitness centers and gyms hardly think about leaving. Thus, if fitness operators could cultivate a community within and beyond the physical space, they can tap into a unique opportunity that would go beyond traditional business.
Smart home gym
The popularity of smart home gyms is on the rise and is a true sign of the times.
While this trend gained momentum during the pandemic, major fitness brands have continued to encourage people to get on board with this trend. The rise in the adoption of smart home gym equipment and flexibility of working out at home has boosted the demand for smart home gyms. The industry players such as Temple Studio offer an all-in-one home gym which is a compact package that comes within the budget of the customers.
This could be an inclination to adopt new methods of self-care and purchasing a few, basic fitness equipment is a sign to invest in a long-term commitment to fitness and wellbeing.
The future of the fitness industry is certainly brighter.
While the pandemic was rather a tough period, it has offered opportunities such as virtual workouts and a smart home gym. The fitness industry has always been dependent on consumer behavior and it has changed over the last few years.
People rather opt for sustainable fitness than get-fit-quick alternatives, which open new opportunities in the fitness industry.
People want to stay healthy.
Fitness professionals must remember this and lay the foundation for the upcoming technology-driven trends to recover from the losses of the past two years.
About the author: Sharmistha Sarkar – Has always had a keen interest in reading and writing. An engineering graduate, she forayed into the field of writing due to her love for words and the urge to do something different. Allied Market Research has given her the chance to gain knowledge about different subjects as a Specialist Content Writer.
