One bright spot the presentation noted was that Peloton's share of the total connected fitness market had been increasing. But a report from research firm M Science shows that Peloton's overall market share might be on the decline. In November, Peloton's share of all connected fitness products priced at a minimum of $1,400 was tracking slightly below levels observed in 2019 and 2020, M Science said. That's despite the lift Peloton saw on key holiday shopping days including Black Friday and Cyber Monday, it said.