Global GPS Bike Computer Market Size Likely to Grow at a CAGR of 5.1% By 2033

As per the current market research conducted by Custom Market Insight Market Research Team, the global GPS bike computer market is expected to record a CAGR of 5.1 % from 2023 to 2033. In 2023, the market size is projected to reach a valuation of US$ 0.64 billion. By 2033, the valuation is anticipated to reach US$ 0.86 billion

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Growth Factors

During the forecast period, Europe is anticipated to experience significant growth in the usage of bicycles for commuting as well as participation in cycling sports and events. As a result, there is expected to be an increase in demand for GPS bike computers, which can enhance the cycling experience by providing cycling-specific maps.

This demand is fueled by the rising number of trips taken on bikes for leisure activities and commuting, particularly in the Netherlands where people made 4.8 billion bicycle trips in 2019, covering a total distance of 17.6 billion kilometres. Of the total distance travelled, one-third was for leisure purposes, while the rest was for shopping and commuting.

During the forecast period, the demand for bicycles, particularly e-bikes, is expected to increase due to their growing adoption in various applications such as food delivery, grocery shopping, recreational activities, and rental services. The UK-based food delivery company, Deliveroo, for instance, uses a fleet of bicycles for its food delivery services. The region's players' active involvement in such initiatives is likely to sustain the demand for bicycles in the market.

The ELEMNT BOLT, Wahoo's latest GPS bike computer, was unveiled in May 2021. It boasts a vivid color display, an intuitive interface, and enhanced navigation capabilities. The device's onboard memory has been boosted to 16 GB, and it can run for up to 15 hours. Cyclists can use the Wahoo ELEMNT app to personalize their data screens, synchronize routes, and analyze data in conjunction with the new Bolt GPS.

Report Scope

Feature of the Report	Details
Market Size in 2023	USD 0.64 Billion
Projected Market Size in 2033	USD 0.86 Billion
Market Size in 2024	USD 0.67 Billion
CAGR Growth Rate	5.1% CAGR
Base Year	2023
Forecast Period	2024-2033
Key Segment	By Application, Type, and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors, and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfill your requirements for research.

GPS Bike Computers Market News

• In April 2022, Stages Cycling and Giant jointly introduced two new GPS cycling computers - the Dash M200 and Dash L200. These devices are available through both companies' global distribution networks and come equipped with a full-color screen, cycling-specific maps, and a comprehensive range of training features.
• In May 2021, Wahoo announced the launch of its latest GPS bike computer - the ELEMNT BOLT. This device boasts a clear color display, a user-friendly interface, and expanded navigation features. The BOLT GPS also has a long battery life of 15 hours and a memory capacity of 16GB. Cyclists can customize their data screens, synchronize routes, and analyze data by pairing the Wahoo ELEMNT app with the new Bolt GPS.
• In January 2021, Garmin completed the acquisition of GEOS Worldwide Limited and its subsidiaries. GEOS is a key provider of emergency monitoring and response services, and this strategic acquisition will enable Garmin to enhance safety features for its customers during outdoor adventures. Additionally, this acquisition is expected to provide benefits to Garmin's cycling product portfolio.

List of the prominent players in the global GPS Bike Computer Market:

• SIGMA-ELEKTRO GmbH
• 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 Inc.
• MiTAC Digital Technology Corporation
• XOSS
• Lezyne
• Polar Electro
• Others

The global GPS Bike Computer Market is segmented as follows:

By Application

• Athletics and Sports
• Fitness and Commuting
• Recreational/Leisure

By Type

• Mapping
• Non-mapping

By Region

North America

• The U.S.
• Canada
• Mexico

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America