Market Introduction Indoor cycling is an efficient way to exercise and train at home or at gyms & fitness centers.The importance of health and fitness among people is growing at a fast pace due to factors such as sedentary lifestyle, improper eating habits, and increasing number of lifestyle diseases among other factors across North America.
In addition to this, the coronavirus pandemic has further aggravated the health concerns in North America.Owing to all these factors, the adoption of indoor exercise equipment such as indoor bikes has been increasing at an impressive pace.
Hence, the demand for indoor bikes, trainers, and other related equipment is growing among individuals, athletes, fitness studios, gyms and other end-users across North America.In addition to this, the continuous advancements in indoor cycling software in terms of technology integration and addition of advanced features are further fueling the growth of North America indoor cycling software market.
The growing adoption of health and fitness equipment’s in the region is also anticipated to propel the demand for indoor cycling software during the forecast period. Other factors such as rising demand among commercial fitness centers for enhanced customer experience is also expected to drive the North America indoor cycling software market growth. In case of COVID-19, North America is highly affected specially the US.Presently, North America is the largest market of indoor cycling software.
The region is characterized by the presence of developed nations such as US and Canada, where the demand of technology solutions & services is quite high owing to the huge presence of companies from various industry sectors.Indoor cycling industry has been flourishing at an impressive pace in the US due to high adoption among commercial and individual end-users which has affected the North America indoor cycling software market.
With more and more companies continuing to adopt remote working and increasing consumption/demand for online content/social media, the demand for indoor cycling software among end-users has seen an increase in the past few months. The COVID - 19 outbreak has a positive impact on the growth of some industries such as video conferencing, desktop virtualization, and online media & entertainment streaming. Hence, it is anticipated that COVID-19 crisis will impact the growth North America indoor cycling software market in a positive manner
Market Overview and Dynamics The North America indoor cycling software market is expected to grow from US$ 50.15 million in 2019 to US$ 90.80 million by 2027; it is estimated to grow at a CAGR of 7.8 % from 2020 to 2027. Increasing health and fitness concerns is one of the major factor escalating the North America indoor cycling software market growth. The increasing pollution levels, busy lifestyles, and lack of proper cycling infrastructure coupled with ongoing coronavirus pandemic are some of the key factors that are driving the adoption of indoor exercise equipment such as indoor bikes and trainers across North America. The health and fitness concerns are rising at an alarming rate among people owing to the above mentioned factors and thus the demand of indoor cycling equipment is also increasing at an impressive pace across North America. The key benefits of indoor cycling include improvement in cardio fitness, weight loss, reduced body fat, high muscle strength, controlled workout/training options, and safety from external environmental factors such as pollution. Furthermore, with growing restrictions on outdoor activities due to lockdowns and social distancing norms, cyclists all around the North America are moving towards increased usage of indoor cycling. During past few months of lockdown measures, some of the largest retailers of indoor bikes have reported a significant increase in sales of their indoor cycling equipment across North America. Due to health and fitness concern, indoor cycling equipment are increasing, as a result the demand of indoor cycling software is also increasing, thereby driving the North America indoor cycling software market growth.
Key Market Segments In terms of session type, the solo segment accounted for the largest share of the North America indoor cycling software market in 2019.In terms of application, the professional training segment held a larger market share of the North America indoor cycling software market in 2019.
Further, the monthly subscription segment held a larger share of the North America indoor cycling software market based on subscription type in 2019.
Major Sources and Companies Listed A few major primary and secondary sources referred to for preparing this report on North America indoor cycling software market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are SpiviTech Ltd.; Stages Indoor Cycling LLC; Trainer Road, LLC; Wahoo Fitness; Zwift Inc.
North America Indoor Cycling Software Market Segmentation
North America Indoor Cycling Software Market - By Session Type • Solo • Group North America Indoor Cycling Software Market - By Application • Professional Training • Health & Fitness North America Indoor Cycling Software Market - By Subscription Type • Monthly Subscription • Annual Subscription North America Indoor Cycling Software Market - By Country • US • Canada • Mexico North America Indoor Cycling Software Market - Company Profiles • SpiviTech Ltd. • Stages Indoor Cycling LLC • TrainerRoad, LLC • Wahoo Fitness • Zwift Inc.
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