Analysis of Pedometer market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
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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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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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.
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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
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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.
NOTE: Although care has been taken to maintain the highest levels of accuracy in reports, recent market/vendor-specific changes may time to reflect in the analysis.
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The pedometer market is expected to garner a market value of US$ 2700 Million by the end of 2028.
Asia Pacific is expected to register 4% CAGR for forecast period 2018-2028.
The pedometer market is expected to register a CAGR of 4% in the forecast period 2018-2028.
The pedometers market is worth US$ 20 billion in 2022.
The pedometers market is expected to have a CAGR of 4% through 2032 due to government initiatives.
The pedometers market has fresh opportunities due to high demand for electronic devices.
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