Global Pedometer Market 2017-2021

Overview of the global pedometer market

Market research analysts at Technavio predict that the global pedometer market will grow steadily at a CAGR of more than 6% by 2021. The rising adoption of wearable devices in the sports and fitness industry is identified as one of the primary growth factors for this market. Participation in sports and physical fitness activities plays a vital role in promoting health and wellness among people. The pedometer is one of the most common devices used by individuals in the sports and fitness industry to regularly monitor their health conditions. Pedometers enable individuals to obtain real-time data and allows them to track their physical activities such as walking, running, and maintain a record of calories burned during physical exercise. This helps in changing their fitness regimes accordingly without the need to consult a healthcare provider, which in turn, helps in saving healthcare costs. With the increasing number of sportspersons around the globe, the demand for pedometers will increase in the coming years, which will subsequently fuel market growth.

In terms of geographic regions, the Americas will be the major revenue contributor to the pedometer market throughout the forecast period. The developed countries of the Americas such as the US and Canada are home to several vendors operating locally as well as internationally. Factors such as the availability of many retail outlets and online distribution channels, high internet penetration, and the increased presence of vendors with suitable product offerings, are driving the market's growth in this region.

Competitive landscape and key vendors  

The pedometer market consists of many regional and international vendors. With all vendors constantly competing to gain maximum revenue shares, this market appears to be highly competitive. The international players provide intense competition to the regional players based on features such as product quality, pricing, market reach, and financial resources. The competitive environment in this market will intensify further with a rise in product and service extensions and product innovations.