According to the latest research report titled “Indoor Cycling Software Market Forecast to 2027 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the global indoor cycling software market is expected to reach US$ 274.5 million by 2027, registering a CAGR of 8.6% during 2020–2027, the forecast period considered in the report.
The scope of study involves understanding the factors contributing to the growth of the indoor cycling software market; it also includes estimation and forecast of the revenues as well as market size analysis, along with spotting significant market players and their key developments.
Get Sample PDF Copy at https://www.theinsightpartners.com/sample/TIPRE00013212
With surging competition in various industries, including the health and fitness industry, enterprises are continuously striving to enhance their productivity and operational efficiency while reducing the overall costs. Hence, the demand for the state-of-the-art indoor cycling software integrated with advanced technologies such as artificial intelligence (AI) and virtual reality (VR) has been growing at an impressive pace across North America. In indoor cycling software, AI can conduct super-fast sessions that would have an enormous impact on health and fitness. Several companies are looking forward to investing in AI to offer efficient software to their customers.
Impact of COVID-19 Pandemic on Indoor Cycling Software Market
Indoor cycling industry has been flourishing at an impressive pace in the US due to high adoption among commercial and individual end users. In terms of COVID-19 outbreak, the US is the world’s worst affected country with more than 6,050,444 confirmed cases and more than 184,614 deaths, as per the recent WHO report on 4th of September 2020. However, with the increase in number of companies continuing to adopt remote working and increasing utility of 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 of the indoor cycling software market in a positive manner.
The market players present in the indoor cycling software market are mainly focusing toward the development of advanced and efficient products. By signing partnership, contracts, joint ventures, funding, and inaugurating new offices across the world the company maintain its brand name globally.
- In 2020, IRONSTAR partnered with ROUVY to add some unique bike courses to the digital cycling platform. As per the partnership, all IRONSTAR bike courses would be added to the digital cycling platform by the end of 2020.
- In 2019, Bkool announced exiting the indoor trainer business and sold its hardware rights to Versa Design. This divestment would help the company to completely focus on their cycling simulator business.
Buy Complete Report at https://www.theinsightpartners.com/sample/TIPRE00013212
The Insight Partners
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.