Market Research Report
Global GPS Bike Computers Market Size study, by Type (Mapping and Non-Mapping), by Application (Athletics and Sports, Fitness and Commuting, and Recreational/Leisure) and Regional Forecasts 2022-2028
|Global GPS Bike Computers Market Size study, by Type (Mapping and Non-Mapping), by Application (Athletics and Sports, Fitness and Commuting, and Recreational/Leisure) and Regional Forecasts 2022-2028|
Published: May 10, 2022
Bizwit Research & Consulting LLP
Delivery time: 2-3 business days
Global GPS Bike Computers Market is valued at approximately USD 542.5 million in 2021 and is anticipated to grow with a healthy growth rate of more than 6% over the forecast period 2022-2028. GPS bike computers can be attached to the bike and it uses satellites to track position, calculating speed, distance and time without magnets or wires. Some bike computers measure heart rate also by picking up signals from a sensor strapped to the chest. Rising preference for cycling owing to growing health awareness and increasing popularity of cycling events such as Tour de France, Milan-San Remo, Giro d'Italia, Amgen Tour of California, and others are the major factors fueling demand for GPS bike computers. Cyclists use it for training purposes and to monitor their health during cycling such as heart rate. According to Statista, the number of participants in BMX bicycling increased from 3.44 million in 2018 to 3.88 million in 2020. Furthermore, rising prevalence of diseases such as diabetes and obesity worldwide coupled with technological advancements are expected to promote demand in coming years. According to IDF Diabetes Atlas, in 2021, 90 million people were suffering from diabetes in Southeast Asia and 73 million in the Middle East and North Africa. Also, in May 2021, Wahoo launched an updated version of its Elemnt Bolt bike computer. This new device is integrated with a new 64-colour high-contrast screen, improved navigation features, and extended memory. However, high cost of these devices may hamper the growth during the forecast period 2022-28.
The key regions considered for the Global GPS Bike Computers Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is dominating the global market in terms of revenue and is also projected to show the highest growth during the forecast period 2022-28, due to growing penetration of electric bikes and a strong preference for outdoor sports activities.
Major market players included in this report are:
Polar Electro Oy
CatEye Co., Ltd.
Giant Manufacturing Co. Ltd.
MiTAC Holdings Corp.
Pioneer Electronics (USA) Inc.
Wahoo Fitness LLC
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Athletics and Sports
Fitness and Commuting
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global GPS Bike Computers Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
List of figures