Date: Apr 2023
Date: Apr 2023
The Market Statsville Group (MSG) publishes the new report on the "Fitness Mirror Market by Type (Hardware, Software, and Services), by Application (Commercial and Residential), and by Region – Global Share and Forecast to 2033
According to the Market Statsville Group (MSG), the global Fitness Mirror market size is expected to grow at a CAGR of 4.9% from 2023 to 2033.
Home fitness has been around for about a decade when TV shows for aerobics started, and it has taken a new role since the COVID-19 pandemic forced gyms to be closed worldwide. Many people of all age groups are now finding ways to exercise just from the comfort of home. This growing awareness of health and fitness among people and the trend of exercising at home has boosted the demand for various fitness equipment. Among the equipment, the fitness mirror is very much in trend as it allows monitoring health and keeping track of various smart features.
Exercising daily has given rise to people buying equipment for home to exercise daily. Many people find it awkward and embarrassing to go to gyms owing to the judgments they might face. This has also been a major factor in most people's adoption of home fitness. During the time of the pandemic, many organizations and governments also started campaigns to make people aware of their health and fitness routines.
Many people worldwide seeing the world's suffering during the pandemic, started keeping watch on their health and proper exercising to maintain fitness. The people who used to go to the gyms before the lockdown was forced to work out at home. Seeing them working out, their family members became aware of the workout sessions and started trying them themselves. This created the demand for home fitness equipment. The market players for home fitness equipment didn’t miss the opportunity to meet the demand. They even started launching new innovative products to be used at home, which attracted more people to join the trend of working out at home.
The TV or movie stars and influencers on social media also took part in the trend and started posting photos and videos. This activeness shown by the influencers makes people more inspired, and more people join the force of home fitness routines. This growing awareness among people for health and fitness and more specifically, using home fitness applications is growing the demand for equipment such as fitness mirrors and driving the market's growth.
The overall fitness mirror market has been segmented into type and application and region.
Residential segment is expected to grow at the highest CAGR of 5.0% during the forecast period. With the COVID-19 pandemic forcing many people to stay at home, a surge in demand for home workout equipment, including fitness mirrors. The convenience and flexibility of working out at home have become increasingly popular, especially for people with busy schedules or live in areas with limited access to gyms or fitness centers. Further, the demand for fitness mirrors in residential applications is the increasing availability of advanced technology and software. Many fitness mirrors now come equipped with advanced software that provides personalized workout programs and tracks progress over time. These features have made fitness mirrors a more attractive option for those seeking a customized workout experience in the comfort of their own homes.
Asia Pacific is expected to witness the highest CAGR of 5.7% in the fitness mirror market. The increasing awareness about fitness and health consciousness among individuals is a significant driving factor for the market’s growth in the region. The rising disposable income and the growing middle-class population is another factor that contributes to the market's growth. Additionally, the increasing adoption of smart fitness equipment and wearable technology is fueling the demand for fitness mirrors in the region. Moreover, rapid urbanization and the increasing trend of gym and fitness center memberships in countries such as China, India, and Japan are also driving the demand for fitness mirrors in the region.
This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the fitness mirror market. It also consists of the profiles of leading companies such as Macvon Touch Fitness Mirror, Tempo Studio, Echelon Reflect 50, iFIT.com, Tonal, SmartSpot, QAIO Flex, OliveX, Mirror, and Fittar. The key players' growing research and development activities for innovative solutions are expected to drive market growth.
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