Global GPS Bike Computer Market Segmentation, By Product Type (Non-Mapping and Mapping), Application (Athletics and Sports, Fitness and Commuting, and Recreational/Leisure) – Industry Trends and Forecast to 2031.
GPS Bike Computer Market Analysis
The GPS bike computer market is witnessing significant growth as more cyclists embrace the benefits of precise navigation, performance tracking, and real-time data analysis. The adoption of GPS bike computers is being driven by the increasing popularity of cycling as both a recreational activity and a competitive sport. The integration of advanced features, such as heart rate monitoring, power meter compatibility, and wireless connectivity, is enhancing the appeal of these devices among cyclists who demand more from their equipment. The market is further boosted by technological advancements, including improved GPS accuracy, longer battery life, and user-friendly interfaces. These innovations are making GPS bike computers more accessible and attractive to a broader audience, ranging from casual riders to professional athletes. The trend toward health and fitness, combined with the desire for connected, data-driven cycling experiences, is expected to fuel the market's growth.
GPS Bike Computer Market Size
Global GPS bike computer market size was valued at USD 604.39 million in 2023 and is projected to reach USD 931.07 million by 2031, with a CAGR of 5.55% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, pricing analysis, brand share analysis, consumer survey, demography analysis, supply chain analysis, value chain analysis, raw material/consumables overview, vendor selection criteria, PESTLE Analysis, Porter Analysis, and regulatory framework.
GPS Bike Computer Market Trends
“Increasing Demand for Connected Cycling Devices”
The increasing demand for connected cycling devices is significantly driving the growth of the GPS bike computer market. Cyclists are looking for products that offer seamless integration with their smartphones, wearables, and other devices to provide comprehensive data on their performance and routes. GPS bike computers that allow for real-time navigation, live tracking, and connectivity with cycling apps are gaining popularity among users who value a connected and data-rich riding experience. This trend aligns with the broader shift toward connected sports and fitness equipment, where data accessibility and ease of use are paramount.
As more cyclists embrace the digital age, the market for GPS bike computers is expanding, with manufacturers focusing on enhancing connectivity features to meet the growing consumer demand. The trend is expected to continue as advancements in wireless technologies, such as Bluetooth and ANT+, enable more sophisticated and user-friendly devices.
Report Scope and GPS Bike Computer Market Segmentation
|
Attributes
|
GPS Bike Computer Key Market Insights
|
|
Segmentation
|
|
|
Countries Covered
|
U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America
|
|
Key Market Players
|
SIGMA-ELEKTRO GmbH (Germany), Bryton Inc. (Taiwan), Garmin Ltd. (U.S.), Pioneer Electronics (USA) Inc. (U.S.), CATEYE Co.,Ltd. (Japan), Wahoo Fitness (U.S.), acer Gadget. (Taiwan), MiTAC Digital Technology Corporation (Taiwan), Lezyne USA, Inc. (U.S.), and Polar Electro (Finland)
|
|
Market Opportunities
|
|
|
Value Added Data Infosets
|
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, pricing analysis, brand share analysis, consumer survey, demography analysis, supply chain analysis, value chain analysis, raw material/consumables overview, vendor selection criteria, PESTLE Analysis, Porter Analysis, and regulatory framework.
|
GPS Bike Computer Market Definition
A GPS bike computer is a compact, handlebar-mounted device designed specifically for cyclists to track and record their rides using GPS (Global Positioning System) technology. It provides real-time data on various metrics such as speed, distance, time, elevation, and location. Advanced models offer additional features like turn-by-turn navigation, route mapping, heart rate monitoring, power output analysis, and integration with other smart devices.
GPS Bike Computer Market Dynamics
Drivers
- Integration with Wearable Technology
The integration of GPS bike computers with wearable technology presents a significant opportunity for market growth. As wearable devices become more advanced, there is a growing demand for GPS bike computers that can seamlessly sync with these devices to provide a comprehensive overview of a cyclist’s health and performance metrics. For instance, GPS bike computers that connect with heart rate monitors, smartwatches, and other fitness trackers can offer real-time data synchronization, allowing cyclists to monitor their performance more accurately and make data-driven decisions during their rides. This trend is expected to attract a wide range of users, from casual cyclists to competitive athletes, and drive further innovation in the market.
- Growing Interest in E-Bikes
The rising popularity of e-bikes is creating new opportunities in the GPS bike computer market. E-bike users, who often seek extended ride durations and more complex routes, are increasingly turning to GPS bike computers for reliable navigation and performance tracking. This segment of the market is expected to expand as e-bikes become more prevalent, especially in urban areas where cycling infrastructure is improving. GPS bike computers tailored to the specific needs of e-bike riders, such as features that monitor battery levels and provide e-bike-specific navigation routes, are likely to gain traction and contribute to market growth.
Opportunities
- Advancements in Augmented Reality (AR) Integration
AR technology can overlay real-time visual information onto the cyclist's field of view, providing enhanced navigation and safety features directly through the device. For instance, AR can project turn-by-turn directions, alert cyclists to upcoming hazards, or display performance metrics in an easily visible format. This immersive experience not only aids in precise navigation but also improves overall riding safety by keeping cyclists informed without diverting their attention from the road. The integration of augmented reality (AR) into GPS bike computers represents a significant opportunity for innovation in the cycling industry.
- Development of Eco-Friendly Products
Consumers are increasingly seeking products that align with their values, including sustainability and energy efficiency. Companies can capitalize on this trend by focusing on sustainable materials, such as recycled plastics or biodegradable components, for their bike computers. Additionally, integrating solar-powered options can provide a renewable energy source, reducing the need for frequent battery replacements and minimizing environmental impact. In response to growing environmental awareness, there is a compelling opportunity to develop eco-friendly GPS bike computers.
Restraints/Challenges
- High Cost of Advanced Devices
The high cost of advanced GPS bike computers remains a challenge for market penetration, particularly in price-sensitive regions. While these devices offer a range of sophisticated features, their premium pricing can be a barrier to entry for many consumers. This is especially true for casual cyclists who may not see the need for a high-end device. Manufacturers are faced with the challenge of balancing cost with the inclusion of advanced features, and this price sensitivity could slow market growth in certain segments.
- Complexity of Use
The complexity of using advanced GPS bike computers can also deter potential users. While these devices offer numerous features, the learning curve associated with using them effectively can be steep, particularly for less tech-savvy cyclists. The need for regular updates, calibration, and understanding of various metrics can be overwhelming for some users, leading to underutilization of the devices' full capabilities.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global GPS Bike Computer Market Scope
The market is segmented on the basis of product type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Non-Mapping
- Mapping
Application
- Athletics and Sports
- Fitness and Commuting
- Recreational/Leisure
Global GPS Bike Computer Market Regional Analysis
The market is analyzed and market size insights and trends are provided by country, product type and application as referenced above.
The countries covered in the market are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina, and rest of South America.
North America is expected to dominate the market due to the rising disposable incomes across the region, which enables consumers to invest in advanced outdoor equipment, including GPS bike computers. Additionally, North America has a strong and growing population of individuals who are passionate about outdoor sports activities.
Europe is expected to be the fastest growing due to the growing adoption of bicycles for commuting and the rising participation in cycling sports and events. The increasing use of bikes for daily commutes and leisure activities is expected to boost the demand for GPS bike computers.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Global GPS Bike Computer Market Share
The market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
GPS Bike Computer Market Leaders Operating in the Market Are:
- SIGMA-ELEKTRO GmbH (Germany)
- Bryton Inc. (Taiwan)
- Garmin Ltd. (U.S.)
- Pioneer Electronics (USA) Inc. (U.S.)
- CATEYE Co.,Ltd. (Japan)
- Wahoo Fitness (U.S.)
- acer Gadget. (Taiwan)
- MiTAC Digital Technology Corporation (Taiwan)
- Lezyne USA, Inc. (U.S.)
- Polar Electro (Finland)
Latest Developments in GPS Bike Computer Market
- In May 2023, Garmin India, a subsidiary of Garmin Ltd. (NASDAQ: GRMN), introduced its latest GPS cycling computers, the Edge® 540 and Edge 840 Series. These devices are crafted to offer cyclists an extensive range of performance-focused training metrics, personalized coaching tailored to individual goals, and advanced navigational support, all within a lightweight and user-friendly design
- In April 2022, Stages Cycling and Giant unveiled two new GPS cycling computers, the Dash M200 and Dash L200, which are available through their global distribution networks. The Dash 200 models boast a vibrant full-color display, cycling-specific maps, and a comprehensive set of training features
SKU-