We’ve Heard Of Smart Homes, But What About Smart Gyms?

Smart Home Gyms: Market and Technology Overview

The global market for smart home gym equipment is projected to reach $4 billion by 2030, following a valuation of $3.2 billion in 2024. This growth is driven by the continued interest in home workouts, emphasizing convenience and customization. Devices in smart gyms track performance, guide movements, and offer coaching through screens.

Technology Integration

Artificial Intelligence: Many devices integrate AI for enhanced functionality. Tonal, for instance, provides a wall-mounted unit with digital weights that adjust automatically and a camera for monitoring form. A subscription includes guided sessions and live coaching.

Real-time Tracking: Tempo uses smart weights to track lifts, offering feedback on intensity and posture. Hydrow has invested in Speede Fitness for adaptive strength training, while iFIT acquired Reform RX, a connected Pilates reformer brand.

Virtual Reality: Texas-based Virtuix has developed a game called Treks, transforming exercise into an exploratory experience within a headset.

Wearable Integration: Devices like Peloton bikes can sync with smartwatches, displaying metrics such as heart rate during workouts.

Consumer Trends

In Britain, 10% of consumers own a smart fitness device, equating to approximately 5.3 million people. An additional 12% plan to purchase a device, indicating further market growth. Despite the reopening of external gyms, many users retain connected machines for their flexibility.

Risks and Concerns

Research indicates privacy and security are significant concerns, with 31% of Britons fearing privacy loss and 28% worried about hacking. Reliability is another issue, as 33% of consumers express concern about device functionality during internet outages. Additionally, the high cost of devices, such as Tonal’s $5,000 price tag, may limit market expansion. There is also the risk of injury due to over-reliance on machine feedback.

Device Popularity

Smart bikes are the most prevalent connected devices in Britain, with ownership among half of smart gym users. Treadmills, smart mirrors, rowing machines, and cross trainers follow. Emerging products like connected boxing bags and climbing machines are also gaining traction.