These were the biggest innovations in home fitness in 2018
- High tech, at-home fitness companies are gaining ground and putting traditional players under pressure.
- Peloton, which is widely considered to be a pioneer of the home fitness industry, was valued at $4 billion in August after raising an additional $550 million in venture funding.
- These are some of the most exciting at-home fitness innovations to come out over the past year.
America is exercising more than ever, but people are becoming lazier when it comes to where they do it.
Home fitness has become one of the biggest trends of 2018, as a series of high-tech fitness companies have swooped in to create more advanced ways to replicate a boutique class-style workout from home.According to insights firm Alpha, the home fitness equipment market is currently worth $14 billion and is gaining more traction among traditional gym-goers. Of the people it surveyed, 54% said they would be interested in buying an at-home fitness system, Fast Company reported earlier this year.
By comparison, the International Health, Racquet & Sportsclub Association (IHRSA) estimated that 60.9 million Americans have a gym membership, which generates $30 billion in revenue annually.
Peloton, which is widely considered to be a pioneer of the industry, was valued at $4 billion in August after raising a further $550 million in venture funding.
Recent data released by analytics firm Second Measure, which tracks the credit and debit purchases from a pool of four million US customers, showed that Peloton is increasingly stealing market share from the traditional market leaders. According to the report, during the third quarter of 2018 Peloton overtook SoulCycle for the first time ever, drawing in 4% more customers, though SoulCycle strongly denied this analysis in a statement to Business Insider this week.
These are some of the most exciting at-home fitness innovations to come out over the past year: