Smart fitness equipment: Workout-from-home might be here to stay

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  Quantumrun Foresight
• January 5, 2023

Insight summary

When COVID-19 lockdown measures were implemented in March 2020, fitness equipment sales soared. Even as the world emerged from the pandemic two years later, experts forecast that smart workout machines will retain their popularity.

Smart fitness equipment context

Smart fitness equipment are typically comprised of workout machines connected to the Internet of Things. A well-known example is the New York-based exercise equipment company Peloton. In 2020, demand for its smart bikes spiked when gyms closed due to the pandemic, increasing its revenue by 232 percent to $758 million. Peloton’s most popular equipment is Bike, which mimics the experience of cycling on the road and is equipped with a 21.5-inch touchscreen display, plus customizable handlebars and seats. 

Another example of smart fitness equipment is Mirror, which doubles as an LCD screen that offers on-demand fitness classes and one-on-one virtual trainers. In comparison, Tonal showcases a full-body workout machine that uses digital weights instead of metal plates. This allows the product’s AI to give real-time feedback on the user’s form and adjust the weights accordingly. Other smart fitness equipment includes Tempo (free weight LCD) and FightCamp (glove sensors).

Disruptive impact

Some analysts forecast smart home gym equipment investments will continue despite gyms reopening. Many consumers became accustomed to training whenever they wanted and in the convenience of their homes, entrenching market demand for smart home gym equipment. With the increased emphasis on mental and physical wellness within popular culture and the work environment, fitness apps that do not require equipment will probably remain popular as well. An example is Nike’s fitness apps—Nike Run Club and Nike Training Club—which were the most downloaded apps across different app stores in 2020. 

Meanwhile, mid-tier gyms are those most likely to experience financial strain as gym-goers return and the pandemic subsides. For a fitness business to survive the post-pandemic world, it will likely need to maintain a digital presence by offering apps where users can sign-up for on-demand classes and sign up for flexible gym contracts. While smart home gym equipment may become more popular, the high price of these products will lead most people to rely on their neighborhood gyms if they wish to exercise within a gym-like environment regularly.

Implications of smart fitness equipment 

Wider implications of gym users adopting smart home gym equipment may include:

• More fitness companies developing smart fitness equipment for mass consumption, including offering low-end tiers and class bundles. 
• Fitness companies integrating their apps and equipment with wearables such as smartwatches and glasses.
• Local and regional gym chains partnering with smart fitness equipment providers to offer bundled subscriptions and memberships, as well as to release white-labeled/branded fitness equipment, and virtual training services.
• People maintaining active memberships at both their local gyms and to their online smart fitness equipment classes, switching based on their schedules and offered fitness programs.
• People gaining greater access to biometric data to improve their overall fitness and health.

Questions to consider

• Do you own smart fitness equipment? If so, how have they impacted your fitness?
• How do you think smart fitness equipment will change the way people workout in the future?