Technology has become a buzzword in almost every business sectors in 2018.
No matter which industry you belonged to, technology is one thing that can’t be neglected in today’s time. Every business owners are utilizing this tool for enhancing their products and services along with stretching their business empire demographically.
According to a report, the current Indian fitness industry accounts total revenue of approximately US$1,469 million in 2018 that is expected to record an annual growth rate of 7.2 percent in between 2018-2023.
The market volume is expected to rise to US$2,083 million by 2023, generating numerous business opportunities for investors. The wearables are the largest fitness market segment with a market volume of US$1,334 million in 2018.
A Boon for the Industry
Technology has immensely affected the fitness industry that upgraded the entire segment drastically. The world of fitness after incorporating technology has proven to be a boon for the investors as well as the customers/clients.
The impact technology is creating in the fitness world has gradually become a trending topic proving its importance from marketing to biometric evaluation and payment transactions.
Social Media- The Greatest Mean of Communication
Social media has now been in talks for several years that has now become a common platform for entrepreneurs/franchisors for promoting their brand. After creating a storm in the business industry, fitness franchisors are utilizing social media for connecting with people on a number of things.
Gone are the days when fitness owners would opt for banners and letterbox drops for promoting their brand. Social media has replaced these old-school methods by introducing platforms like YouTube, Facebook page, blogs, etc that could attract the massive audience in no time.
The Rise of Virtual Training Programs
2018 witnessed several fitness franchisors introducing several virtual training programs that provided customers with essential instructions to stay fit and healthy. These programs are rich in providing information ranging from weight training to boost the testosterone level of a person.
Some programs could be found easily on sources like YouTube while others are paid services.
Fitness Applications Made Their Presence
Developers studied the growing demand for technology and ended up developing fitness applications that catered to the fitness freaks individually. This is among those trends that took the industry by storm and transformed the way fitness industry is being considered today.
These applications are completely dedicated to fitness, offering apps that could help a person consult trainers and nutritionists for a healthier lifestyle.
Sensor embedded gadgets became the most powerful innovation in the fitness industry in 2018 that elevated the market to another level.
Gradually being considered the ultimate fitness tracker and partner, wearable gadgets were designed in a manner that could measure a person’s activity level, heart rate, and other body mechanisms.
Technology has surely proven to be a boon for the fitness industry in recent times and there is simply no end to it.