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Gym membership cost, fitness apps still more affordable than Peloton

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Even with a slowdown in sales following the pandemic, the home fitness equipment industry is expected to experience significant growth over the next few years – from $14 billion in 2021 to nearly $22 billion by 2028 – according to data published by Research and Markets.

But not everyone can afford expensive equipment, and many don’t have room for a treadmill, stationary bike, or elliptical.

Therefore, streaming video fitness classes are a popular alternative, usually in the form of an app that you can access on multiple devices and often don’t require equipment. It’s also ideal for business travelers who want to exercise in their hotel room before heading out for the day.

“The portability of fitness apps that can be used on the go, anytime, anywhere adds to the appeal,” says veteran technology analyst Tim Bajarin, president of market research firm Creative Strategies based in San Jose, Calif., in an interview with USA TODAY.

“For the majority of people who don’t want to spend hard-earned money on expensive exercise equipment, these fitness software apps can help them stay in shape at a much lower cost,” adds Bajarin, who says he has added a virtual reality (VR) fitness app, Liteboxer, to her routine. “Exercise in virtual reality could be the next big frontier in fitness programs.”

Peloton is not just hardware

While home fitness giants like Peloton are merging video instructors with its exercise equipment, its popular Peloton app ($12.99/month after a 30-day free trial) can be used with or without equipment at home and is accessible on multiple devices: iPhone, iPad, Android phones, Android tablets, Fire tablets, Android TV, Fire TV, Apple TV, Roku or the web.

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