The global indoor cycling software market was valued at US$ 24,065.2 thousand in 2019 and is expected to reach US$ 46,479.4 thousand by 2027; it is estimated to grow at a CAGR of 8.6% during 2020–2027.
Indoor cycling is an efficient way to exercise at home or at gyms and 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, high pollution levels, and increasing number of lifestyle diseases. Additionally, the COVID-19 pandemic has further aggravated the health concerns worldwide. Owing to all these factors, the demand for indoor bikes, trainers, and other related equipment is growing among individuals, athletes, fitness studios, gyms and other end users.
The indoor cycling software market is segmented into session type, application, subscription type, and geography. Based on session type, the indoor cycling software market is divided into solo and group. The solo segment is projected to be a larger segment during the forecast period from 2020 to 2027. Based on application, the indoor cycling software market is divided into professional training and health and fitness. The professional training segment contributed a substantial share in 2019, and it is also anticipated to be a faster growing application owing to the increasing integration of training and professional workout sessions by market players operating in the global indoor cycling software market. Based on subscription type, the indoor cycling software market is divided into monthly subscription and annual subscription. The monthly subscription segment held a larger share; whereas, the annual subscription segment is anticipated to grow faster owing to cost saving benefits of such plans. Geographically, the indoor cycling software market is segmented into five major regions ? North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM).
BKOOL; S.L.; FulGaz; Kinomap; SpiviTech Ltd.; Stages Indoor Cycling LLC.; Tacx International B.V.; Trainer Road, LLC; VirtualTraining s.r.o. (Rouvy); Wahoo Fitness (The Sufferfest); and Zwift Inc. are among the key market players that are profiled during this market study. In addition to these players, several other important market players operating in the ecosystem were studied and analyzed during the course of this market research study to get a holistic overview of the global indoor cycling software market.
The global indoor cycling software market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the indoor cycling software market with respects to all the segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the indoor cycling software market.