The victim was an employee of the Zermatt Bergbahnnen (ZBAG) lift operating company, police said in a news release.
He was accompanying a federal transport office official during an operational inspection of the Gant-Hohtälli cable car system, according to the release.
While traversing a walkway on the pylon to return to a cable car at around 1pm the man for undetermined reasons lost his balance and fell 25 metres, police said.
The victim, a native of Valais, died from his injuries.
Earlier on Tuesday, a 61-year-old Italian man died in the Zermatt region while descending from the 4,633-metre Dufour Peak (Dufourspitze).
The man was with two other climbers, including an Italian guide, when he fell several metres at the 4,500-metre level and died on the spot from his injuries, Valais police said.