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.
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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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)
- 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.
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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
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