GPS Bike Computers Market – Global Industry Analysis and Forecast (2022-2029)

GPS Bike Computers Market was valued at US$ 0.55 Bn. in 2021. Global GPS Bike Computers Market size is expected to grow at a CAGR of 5.1% through the forecast period.
GPS Bike Computers Market Overview:
A GPS bike computer is a navigation device that can be fixed to the handlebars of a bike or bicycle. This bike computer receives satellite signals via GPS which helps the users to monitor their rides and they can track their performance more efficiently. Its additional benefits are that it can also help to track owner progress on the road, create new routes, and follow pre-planned routes for real-time progress.To know about the Research Methodology :- Request Free Sample Report

GPS cycle computers use satellites to track positions and accurately calculate speed, distance, and time without the use of wires or magnets. They can record routes (and heart rate, cadence, power data) and upload them to your ride logging service to evaluate your performance for fun and training. This wireless cycle computer has significantly improved navigation, including turn-by-turn directions when off-road, a clearer map, and a significantly improved touch screen that allows you to pinch and zoom the map as you could on a mobile phone. It's the best bike seat navigation on the GPS Bike Computers market.
GPS Bike Computers Market Dynamics:
Market Drivers:

1. Increasing health consciousness and growing awareness of smart wearables: The increasing health consciousness among society and recent trends of smart wearables and their awareness is the primary driving factor for the growth of the GPS bike computer market. The increased awareness in people is encouraging the market players to provide the customers with updated and innovative products.

2. Increasing adoption of smart cycling products: The rising demand and increasing adoption of smart cycling products is a notable factor that is driving the GPS bike computers market in a forecasted period of 2022-2029. Demand for easy-to-use and low-cost GPS enables bike computers is increasing significantly.

The growing adoption among the people the cycling sports events and competitions is one of the factors impacting the growth of the target market. The trend towards analog GPS bicycle computers has eased high demand, and the increased acceptance of shared commuter bicycles, coupled with increased participation in cycling sports and events, has also contributed to market growth.

Market Restraints:

According to our research, there is a negative impact on the GPS bike computer market during covid and post covid time. The increasing popularity of GPS-enabled smartwatches has been a major factor that is negatively driving the GPS bike computers market. This can impede market growth.
Smartwatches perform the same functions as GPS bike computers but with some added features like multi-sports activities. Due to their various benefits over bike computers, their demand is increasing.
GPS Bike Computers Market Segment Analysis:
Based on Product Type, the GPS Bike Computer Market is segmented into Non-Mapping and Mapping. The Mapping Bike Computers navigate through the signals of satellite for getting the real-time location in every weather condition. The Mapping computers generate the visuals and simply display the data. Mapping bike computers are more useful. Mapping Bike Computers have a higher market share than Non-Mapping Computers. The value of the Mapping segment in 2022 is around 339 Mn. The mapping segment is projected to reach around 475 Mn with a CAGR of 4.9%. The mapping segment is having more Larger Market share of around 58%.

Growth in the market share of GPS cycle computers in the non-mapping segment will be important during the forecast period. The increasing acceptance of non-mapping GPS cycle computers is due to several related benefits. Supports standard computer functions for cyclists and informs you of your current speed, average speed, top speed, and mileage and mileage. The growth for the non-Mapping segment will be around a CAGR of 5.2% for the forecasted period.

Based on the Application, the GPS Bike Computer Market is segmented into Fitness and Commuting, Athletics, and Sports. These are the two major applications of the GPS Bike Computers Market. Commuting and Fitness accounts for the highest market share of around more than the 54% market share. The customers mainly use the GPS Bike Computers for Fitness and commuting purposes. But in recent times the use is increased for the Athletics training and sports purposes. It provides good input for the athletes for their proper preparation and training. The accuracy is very important for the athletes to identify and improve their performance. The GPS Bike Computers have the accuracy which is required therefore their use in the training of sports has been increased.
GPS Bike Computers Market Regional Insights:
The North American region dominates the market with a 32 % share in 2021. The North American region is expected to witness significant growth at a CAGR of 4.5% through the forecast period. The US and Canada are the key markets in North America. North America is leading the GPS cycle computer market due to rising disposable income and a strong presence of people interested in outdoor sports activities in the region. For example, between January and November 2021, roughly 368,000 e-bikes were sold in the United States, up from 273,000 units sold in the entire year of 2021. Such increases in sales of traditional bikes and e-bikes are expected to provide many income opportunities for businesses in the market in question across North America.

The Asia Pacific region is showing good signs in the forecasted period. In the Asia Pacific region, Japan has forecasted growth of around 4.8%. China is projected to reach a market size of 131.5Mn with a 4.7% growth rate.

In the Europe region, then Germany is the fastest growing country in the GPS Bike Computers Market with projected growth of around 4.2%

The objective of the report is to present a comprehensive analysis of the global GPS Bike Computer Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the GPS Bike Computers Market dynamic, and structure by analyzing the market segments and projecting the GPS Bike Computers Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the GPS Bike Computers Market make the report investor’s guide.
GPS Bike Computers Market Scope: Inquiry Before Buying



GPS Bike Computers Market


Base Year
2021
Forecast Period
2022-2029


Historical Data
CAGR
Market Size in 2021
Market Size in 2029


2017 to 2021
5.1%
US$ 0.55 Bn
US$ 0.81 Bn


Segments Covered


by Product Type
• Mapping
• Non-Mapping
by Application
• Commuting and Fitness
• Athletics and Sports


Regions Covered


North America
• United States
• Canada
• Mexico
Europe
• UK
• France
• Germany
• Italy
• Spain
• Sweden
• Austria
• Rest of Europe
Asia Pacific
• China
• S Korea
• Japan
• India
• Australia
• Indonesia
• Malaysia
• Vietnam
• Taiwan
• Bangladesh
• Pakistan
• Rest of APAC
Middle East and Africa
• South Africa
• GCC
• Egypt
• Nigeria
• Rest of ME&A
South America
• Brazil
• Argentina
• Rest of South America



GPS Bike Computers Market Key Players
• SIGMA-ELEKTRO EmbH
• BBB Cycling
• Cycle Parts GmbH
• Bryton Inc.
• Trek Bicycle Corporation
• Garmin Ltd.
• BION INC.
• Pioneer Electronics (USA) Inc.
• Omata
• CATEYE CO. LTD.
• Giant Bicycles
• Evans Cycles
• Wahoo Fitness
• Cambria Bike
• Xplova Inc.
• Recreational Equipment
• MiTAC Digital Technology Corporation
• XOSS

Frequently Asked Questions:

1] What segments are covered in the Global GPS Bike Computers Market report?
Ans. The segments covered in the GPS Bike Computers Market report are based on Product Type and End User.

2] Which region is expected to hold the highest share in the Global GPS Bike Computers Market?
Ans. The North American region is expected to hold the highest share in the GPS Bike Computer Market.

3] What is the market size of the Global GPS Bike Computers Market by 2029?
Ans. The market size of the GPS Bike Computers Market by 2029 is expected to reach US$ 0.81 Bn.

4] What is the forecast period for the Global GPS Bike Computers Market?
Ans. The forecast period for the GPS Bike Computer Market is 2022-2029.

5] What was the market size of the Global GPS Biker Computers Market in 2021?
Ans. The market size of the GPS Bike Computer Market in 2021 was valued at US$ 0.55 Bn.