(MENAFN- GlobeNewsWire - Nasdaq)
Gurugram, India, May 16, 2022 (GLOBE NEWSWIRE) -- KSA News
- Market is anticipated to show a double digit growth @20.8% CAGR on account of growing popularity of digital fitness applications and expansion of ladies only fitness centers in the country.
- Digital Fitness App Market is expected to grow @22.1% CAGR and contribute $164.6 Mn Revenue as fitness centres are offering online classes and incorporating fitness based apps for at-home exercise.
- The market is poised to gain significant traction with the rise in the number of health clubs and fitness centers incorporating advanced equipment catering to the changing health patterns and consumer demands.
Services Diversification : The market growth would be facilitated by the increase in number of value added services like Pilates, Zumba, Martial Arts, Spa, Jacuzzi, salon, aqua aerobics, yoga & others.
Growth of Ladies Fitness Center: Expansion of women only fitness centres such as Fitness Time for women and opening of few budget fitness chains such as Profit Gym will reduce the annual fees charged and increase the member penetration in KSA.
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Growth of Hotel Based Fitness Centres: Opening of additional five star properties or expansion of star hotels such as Radisson and Hyatt will positively affect the market. Approximately 163 hotel projects (72 are Five stars and 91 are Four Star Hotels) with 72,617 rooms will open their doors across the Kingdom of Saudi Arabia.
Government Initiatives: Government Initiatives such as Your Home, Your Gym' campaign are expected to encourage citizens to workout at home and share their videos online and adopt healthier lifestyles and build supporting communities.
The report titled 'KSA Fitness Services Market Outlook to 2025F – Driven by technological innovations and inventive training approaches along with adoption of hybrid model by fitness centers ' by Ken Research suggested that growing awareness of health benefits, increasing disposable income, rise of budget gyms and growth of ladies only fitness center has been the major key factors which drives the demand for fitness services centers in KSA. The market is further expected to register a positive five year CAGR of 20.8% in terms of revenue during the forecast period 2020-2025.
Key Segments Covered in KSA Fitness Market:-
Direct Economic Impact of Fitness Centres
- Overview of Commercial Gyms in KSA Health and Fitness Market
- Overview of Fitness Centres in Hotels and Resorts
- Overview of Fitness Centres in Schools and Universities
- Overview of Fitness Centres in Residential Townships/Compounds
- Overview of Fitness Centres in Hospitals
- Overview of Fitness Centres in Sports Clubs and Govt. Organizations
Indirect Economic Impact of Fitness Centres
- KSA Fitness Equipment Industry Market Size
- Evaluation of Premiumization on Real Estate Sector
- Estimated Cost of Constructing a Fitness Centre
Key Target Audience:-
- Fitness Equipment Manufacturers
- Fitness Equipment Distributors
- Fitness Centres
- Government Organizations
Time Period Captured in the Report:-
- Historical Period: 2015-2020
- Forecast Period: 2020–2025
Key Topics Covered in the Report:-
- Socio-Economic Landscape of KSA
- Direct and Indirect Economic Impact of Fitness Industry in KSA
- Overview of Commercial Gyms in KSA Health and Fitness Market
- Snapshot of Digital Fitness Market in KSA
- Assessment of the Indirect Economic Impact of Fitness Industry in KSA
- KSA Fitness Equipment Industry Market Size
- Evaluation of Premiumization on Real Estate Sector
- Assessment of the Indirect Economic Impact of Fitness Industry in KSA
- Overview of Healthcare Scenario/Health Statistics
- Potential Health Implications and Health Cost Reductions
- Customer Mindset for Fitness Services
- Impact of COVID 19 on Fitness Industry in the KSA
- Future Outlook and Projections for KSA Fitness Services Market
- White space and Opportunities existing in the KSA Fitness Services Market
- Research Methodology
- KSA Fitness Services Industry
- KSA Fitness Services Market Sales
- Covid-19 Impact KSA Fitness Services Market
- Fitness Centres in Schools and Universities KSA
- Fitness Centres in Hospitals KSA
- Fitness Centres in Sports Clubs and Government Organizations KSA
- Digital Fitness Market in KSA
- Health and Fitness Market KSA
- Fitness Equipment Manufacturers KSA
- Fitness Equipment Distributors KSA
- Member Penetration KSA Fitness
- Commercial Gyms in KSA Health and Fitness Market
- Fitness Centres in Hotels and Resorts
- Fitness Centres in Hotels and Resorts KSA
- Fitness Technology Disruptions KSA
- Fitness Equipment Market KSA
- Residential Gyms Saudi Arabia
- Medical Fitness Centres KSA
- Lifestyle Disease Saudi Arabia
For More Information on the research report, refer to below link:-
KSA Fitness Services Market
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