LONDON--(BUSINESS WIRE)--The global gym management software market size is expected to grow by USD 127.31 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio. Request a free sample report
One of the major advantages of adopting a gym management software solution is the elimination of repetitive and time-consuming administrative tasks. Gym management software solutions offered by vendors such as Zen Planner and MINDBODY also extend marketing and promotional support. In addition, these software solutions provide customers with award points and credits through the easy implementation of loyalty programs, which help to attract more customers to the gym. They also provide notifications to existing customers on new activities. As a result, gyms, and fitness centers across the world are increasingly embracing gym management software, thereby driving the market growth during the forecast period.
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As per Technavio, the growing M&A in the market will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Gym Management Software Market: Growing M&A in the Market
The global gym management software market is expected to register significant growth over the next few years, owing to an increase in technological innovations and increasing M&A. Strategic M&A between vendors helps in the development of more efficient products and improves the profit margins of the providers. Investments are carried out either in the form of capital outflows to develop new service offerings or as acquisitions of other service providers. For instance, in March 2020, MINDBODY Inc. (MINDBODY) completed the acquisition of ZeeZor, a real-time analytics and staff engagement platform for salon and spa businesses. Thus, the growing M&A is expected to drive the growth of the market during the forecast period.
“Factors such as the growing demand for gym management software in APAC, and the growth of online management software will have a significant impact on the growth of the gym management software market value during the forecast period,” says a senior analyst at Technavio.
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Gym Management Software Market: Segmentation Analysis
This market research report segments the gym management software market by deployment (cloud-based and on-premise) and geography (APAC, Europe, MEA, North America, and South America).
The North American region led the gym management software market in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to register the highest incremental growth due to factors such as the rapid increase in the number of gyms and the growing smartphone penetration among people.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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