Pedometer Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3453
Pedometer Market size is projected to experience significant growth from 2019 to 2025.
The increasing number of health-conscious people along with the rising awareness about physical fitness should stimulate the demand for pedometers over the forecast timeframe. Technological advancements and advantages including easy operative nature, reliable, cost-effectiveness, and accurate results offered by the device will further propel industry growth.
Pedometers are capable of recording all physical activities including climbing stairs, jogging, walking, and running. Instantaneous results delivered by the device allow the wearer to set goals daily to achieve desired fitness goals thereby leading to an elevated demand for the product over the forecast timeframe. Rising awareness about physical fitness through healthcare awareness campaigns coupled with the growing incidence of chronic conditions such as obesity will act as major driving factors for the pedometer market over the coming years.
Technological advancements enabling connection of pedometer to digital world coupled with increased adoption of smart healthcare wearables will boost industry growth. However, the device available in the market currently is capable of measuring only the number of steps and not the intensity of steps, hampering industry expansion to a certain extent.
Based on product type, the industry is segmented into piezoelectric and spring-levered pedometers. Piezoelectric pedometer accounted for a significant market share in 2018 and is estimated to grow considerably over the coming years. A piezoelectric pedometer is position independent and more sensitive compared to spring-levered, stimulating the growth of the piezoelectric pedometer market.
The distribution channel segment consists of e-commerce, retail stores, supermarkets, and others. The rising popularity of online shopping and online stores will augment the number of online purchases of pedometers over the forecast period, leading to segmental growth. The growing number of e-commerce companies will positively impact growth of the e-commerce segment.
The U.S. dominated the global pedometer industry in 2018 owing to the high prevalence of chronic conditions such as diabetes and obesity coupled with a high adoption of advanced medical wearable devices in the country. Growing awareness about physical fitness and numerous initiatives undertaken by market players to increase product sales will drive the U.S. pedometer market over the foreseeable future.
India pedometer market is estimated to witness significant growth over the projected period. The availability of cost-effective pedometers in the market coupled with the rising number of health-conscious people in the country will boost product adoption over the coming years. Increasing per capita healthcare expenditure, growing prevalence of chronic diseases, and the rapid growth of wearable medical devices market will drive Indian pedometer industry.
Few notable industry players include Nike, Omron Corporation, Huawei Technologies, WeLoop, Xiaomi, iWOWNfit, Lifesense Group, Fitbit, and Jawbone. Strategic partnerships, collaboration, mergers, and acquisitions are some of the major strategies adopted by companies operating in the pedometer industry. The companies are focusing on introducing advanced devices in the rapidly growing market to sustain their position and expand the customer base. For instance, in June 2019, Xiaomi launched Mi Smart Band 4 consisting of all standard sensors including heart rate monitors and pedometers.
Pedometer Market by Product Type, 2014-2025 (USD Million)
- Piezoelectric pedometer
- Spring-levered pedometer
Pedometer Market by Distribution Channel, 2014-2025 (USD Million)
- Retail stores
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Huawei Technologies Co., Ltd
- Lifesense Group
- Xiaomi Inc.
- Fitbit, Inc.
- NIKE, Inc.
- OMRON Corporation
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