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Pedometer Market Expected to Expand at a Steady CAGR through 2018-2028

12-12-2018 11:53 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fact.MR

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Pedometer Market Expected to Expand at a Steady CAGR through

Pedometers Market Overview

The growing demand for wearable technology in various industries includes new and powerful products which have the potential to drive behavioral changes in the consumers to achieve wellness goals. Although the availability of high-tech gadgets that promote fitness is increasing in the market, the demand for pedometer remained stable owing to its low costs and easy accessibility. Pedometers can easily be added to other devices as a supplement in order to increase its customer base.

Pedometers are commonly used by fitness freaks or sportsperson. However, they are getting popular among joggers and walkers who consider it as an essential device and motivator to measure their daily exercise. Pedometers can easily be integrated into various electronic devices which makes them highly useful and a preferred choice among people. The market for pedometers is expected to grow at a significant CAGR in the forecast period.

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Pedometers Market Dynamics

A healthy lifestyle has been the key agenda in many countries and government initiatives in increasing awareness among people will aid in the expansion of pedometers market. Motivation, monitoring goal progress and physical activity levels are the key reasons for the use of pedometers. Pedometers, which are available in different styles and with advanced technology, remained as a preferred choice among the youngsters.   

Durability, value for money and long-term user engagement are the key factors hindering the growth of pedometers market. Despite a steady market growth, the pedometer market is still at a nascent stage and has not been able to gather popularity amongst older populace. The user dropout from the device, which is likely to grow further, has also remained an unresolved problem for many pedometer manufacturers. These factors are going to hinder the growth of pedometer market in the coming years. In addition to this wireless connection, mobile phone integration, long battery life and cheaper alternatives are the main problems faced by the pedometer manufacturers and the companies are in constant search of acquiring strategies that could help them resolve the problem. Pedometer devices face strong competition form high-tech alternatives like fit bits and smartwatches, which are multifunctional and user-friendly.

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Pedometers Market – Regional Analysis

The market can be segmented into six regions which include the Middle East and Africa, Latin America, Japan, Europe, North America and Asia Pacific. Growth prospects are stagnant in the North American market because of the availability of smarter and multifunctional devices. Changing consumer trends and declining long-term user engagement will hinder the growth of pedometers in the North American market. On the other hand, the future of pedometers in the emerging markets like China, India, Mexico and ASEAN are prominent because of the rise in the consumer spending and the availability of cheaper alternatives. The demand of pedometers is supported by the rise in the government initiatives for healthy lifestyles along with the increasing obesity and diabetes in these regions. Pedometers market in the Latin American and MEA region is expected to grow at a significant CAGR in the forecast period owing to the rising health concerns in these regions. 

Pedometer Market – Key Segments

Pedometers market can be segmented on the basis of product type, which includes smart and manual pedometers and sales channel, which includes sports outlets, direct to the customer, modern trade channel, online stores and third-party online stores among others. Smart pedometers are gaining popularity owing to the increasing demand of health and wellness industry in the emerging markets. Online sales remained the preferred choice of buyers and the pedometer market is expected to grow at a higher rate in the forecast period.

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Pedometer Market – Key Manufacturers

Fitbit, Garmin, Jawbone, Omron Healthcare, Gmap, Sportline, Runtastic, Pedometer USA are the key manufacturers in this market. Pedometers market is highly fragmented and is ruled by various small and medium enterprises. Both pedometer manufacturers and tech giants are focusing on creating new technologies and gadgets in order to increase their customer base in both emerging as well as matured markets.

This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on

Market Dynamics
Market Size
Market Segments
Demand & Supply Trends
Current Issues and Challenges
Companies and Competitor Landscape
Value Chain
Technology
Regional Segments Analyzed Include

North America (U.S., Canada)
Latin America (Mexico. Brazil)
Western Europe (Germany, Italy, France, U.K, Spain)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC, S. Africa, N. Africa)
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.

Highlights from the Report

Elaborated scenario of the parent market
Transformations in the market dynamics
Detailed segmentation of the target market
Historical, current and forecast market size based on value and volume
Latest industry developments and trends
Competition landscape
Strategies adopted by the market players and product developments made
Potential and niche segments, along with their regional analysis
Unbiased analysis on performance of the market
Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness

Report Overview at https://www.factmr.com/report/1579/pedometer-market

About FactMR
FactMR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

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