Global Pedometer Market 2017-2021
A pedometer is an individual portable device, usually an electronic or electromechanical product, used to record the number of steps taken by a person by detecting the signal from a hip or hand motion. The modern pedometer device or app is supported with added functions, such as blood pressure monitoring, heartbeat count, and the count on calorie burn. These benefits of the product encourage its increased adoption. Pedometers are of several types among which the global market is classified broadly into two categories. Technavio’s analysts forecast the global pedometer market to grow at a CAGR of 6.03% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global pedometer market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price of the product.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Pedometer Market 2017-2021
Technavio recognizes the following companies as the key players in the global pedometer market: Fitbit, Garmin, Jawbone, and Omron Healthcare
Other Prominent Vendors in the market are: Apple, Motorola, Yamax, Samsung, Adidas, Misfit, and Xiaomi.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Technological advancements. Various technological advancements are taking place across industries, such as healthcare, medical, and the wearable industry. The pendulum-based electromechanical pedometers are undergoing product transformation to increase their accuracy and efficacy. The advancement in technology has led to the emergence of piezoelectric sensors that are used in pedometers to increase the accuracy of the device. As the piezoelectric device works on electromagnetic signals, the accuracy in counting steps or keeping track of the distance traveled is higher than a pendulum-based pedometer.”
According to the report, one of the major drivers for this market is Increased adoption of wearable devices for healthy lifestyle. The growing awareness about health and wellness is encouraging many people to exercise and stay fit and healthy. Wearables are increasingly being used by individuals as a preventive measure to monitor their health conditions. Among the wearable devices, the pedometer, which is available in various formats and designs, is one of the preferred devices. Pedometers are used by individuals to track the distance covered by them and monitor some basic health conditions. Features such as calorie counter, blood pressure monitor, and heart beat counter are providing value addition to the product and are one of the unique selling propositions for the higher sales of the product.
Further, the report states that one of the major factors hindering the growth of this market is Low penetration in developing markets. The pedometer is one of the most common wearable devices used by individuals. Pedometers are generally purchased from retail outlets such as supermarkets, hypermarkets, company outlets, or online stores, which also deal with other consumer goods and electronic devices. Online sales have also greatly improved over the past few years. This has increased product sales through the online stores. Vendors are frequently interacting with consumers to increase consumers' education and to motivate consumers toward maintaining health and wellness. In addition, companies are encouraging its employees to consume their products themselves, in order to provide first-hand testimonials about the product, thereby serving as a powerful sales tool.
Fitbit, Garmin, Jawbone, Omron Healthcare, Apple, Motorola, Yamax, Samsung, Adidas, Misfit, and Xiaomi.
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