3D Pedometer Market to Grow Owing to Increasing Youth Worldwide

According to a new market research report published by Credence Research “3D Pedometer Market (By Product Type (Pedometer Watches, Computer-enabled Pedometers), By Application (Online Sale, Retail Sale)) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall 3D pedometer market worldwide was valued at US$ 1.49 Bn in 2018 and is set to grow with a CAGR of 5.14% during the forecast period.

Market Insights

The 3D pedometer market is primarily governed by the rapidly growing wearable technology market worldwide. 3D pedometer are based on micro electrical-mechanical system, which captures all movements three-dimensionally: forward, sideways and upwards. Consumers’ inclination towards fitness trackers and surge in wearable technology among youth are driving the growth of the 3D pedometer market. In 2017, the fitness trackers market was valued at more than US$ 50.0 Mn worldwide. High-end activity tracking features and interactive operating systems are also playing major role in the growth of these devices. 3D pedometers have different features such as distance, aerobic mode, calories burned, data storage and others. On account of these factors, 3D pedometer market is expected to rise in the forecast period.

Based on application, online sales segment lead the market with more than 60% of the market share worldwide. Internet penetration and plentiful availability of smartphones are driving the growth for online sales segment worldwide. As e-commerce economy is on rise globally, companies prefer to launch there product online which in turn is increasing the online sales market. Products include 3D pedometer is majorly used by youngsters and they prefer to shop online due to the benefits of online sales such as discounts, convenience, adequate information and others. Further, these benefits of online sales are playing a major role in growth of the segment. On account of these factors, we are expecting online sales segment to lead the 3D pedometer market during the forecast period.

Based on the geography, North America govern the 3D pedometer market worldwide with more than 33% of the market share followed by Europe and Asia Pacific. North America is the leader due to rising health concerns, increasing sports activities by individuals and others. Asia Pacific is expected to rise with the highest CAGR owing to economic development, rising health concerns and rising youth population in the region. On account of mass urbanization and increase in standard of living of the people, the demand for 3D pedometer shall be on an increasing pace in the Asia Pacific region. As a result of these factors, we are expecting the Asia Pacific region to grow with a rapid pace throughout the forecast period.

Major market players ae Huawei Technologies Co., Ltd, DiDo, FitBit, Inc., WeLoop, Life Sense Group, Omron Corporation, Precision and others.

 

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