GPS Bike Computer Market Size, Trends and Insights By Application (Athletics and Sports, Fitness and Commuting, Recreational/Leisure), By Type (Mapping, Non-mapping), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032


Report Code: CMI23133

Published Date: April 2023

Pages: 220+

Category: Technology

Report Snapshot

CAGR: 5.1%
0.64B
2023
0.67B
2024
0.86B
2030

Source: CMI

Study Period: 2023-2030
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • SIGMA-ELEKTRO GmbH
  • BBB Cycling
  • Cycle Parts GmbH
  • Bryton Inc.
  • Trek Bicycle Corporation
  • Others

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Reports Description

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 2030. In 2023, the market size is projected to reach a valuation of US$ 0.64 billion. By 2030, the valuation is anticipated to reach US$ 0.86 billion

A GPS bike computer is a device that cyclists use to track their rides, navigate routes, monitor their performance metrics, and record other relevant data. It is essentially a sophisticated cycling computer that uses satellite-based GPS technology to provide location and navigation data.

The GPS bike computer market refers to the segment of the cycling industry that produces and sells these devices. The market includes a range of brands and models that vary in features, price, and target audience. With the growing popularity of cycling as a sport and fitness activity, the GPS bike computer market has seen significant growth in recent years.

Attributes Value
GPS Bike Computer Market Value (2022) US$ 0.55 billion
GPS Bike Computer Market Expected Value (2023) US$ 0.64 billion
GPS Bike Computer Market Forecast Value (2030) US$ 0.86 billion
GPS Bike Computer Market Expected CAGR (2023 to 2030) 5.1 %

Mergers and Acquisitions – GPS Bike Computer Market

The GPS bike computer market has seen several mergers and acquisitions in recent years, as companies seek to expand their market share and offer a broader range of products and services to customers. Here are some notable examples:

Garmin: Garmin is a leading manufacturer of GPS bike computers, and has made several acquisitions in recent years to expand its product offerings. In 2019, Garmin acquired Tacx, a Dutch company that produces indoor bike trainers and accessories, to complement its GPS bike computer range. Garmin has also acquired companies in other industries such as aviation and marine.

Wahoo Fitness: Wahoo Fitness is a competitor of Garmin in the GPS bike computer market, and has made several acquisitions to expand its product offerings. In 2018, Wahoo Fitness acquired Sufferfest, a training platform for cyclists, to provide a more comprehensive training experience for its customers. In 2020, Wahoo Fitness acquired Speedplay, a manufacturer of cycling pedals.

Polar: Polar is a Finnish company that produces GPS bike computers and other fitness tracking devices. In 2019, Polar acquired Smart Coaching, a company that develops personalized training plans and coaching services for athletes. This acquisition allowed Polar to offer a more comprehensive training experience to its customers.

Sigma Sport: Sigma Sport is a German company that produces GPS bike computers, bike lights, and other cycling accessories. In 2018, Sigma Sport acquired the GPS bike computer manufacturer Rox, to expand its product offerings and reach a wider customer base.

Overall, mergers and acquisitions in the GPS bike computer market have enabled companies to offer a broader range of products and services to customers and strengthen their position in the competitive marketplace.

GPS Bike Computer Market– Growth Factors

The GPS bike computer market has experienced significant growth in recent years, and there are several factors that have contributed to this:

Increasing Popularity of Cycling:

Cycling has become a popular sport and fitness activity, with more people taking up the sport for leisure or commuting. This has led to a growing demand for GPS bike computers, which provide cyclists with a range of features to enhance their cycling experience.

Technological Advancements:

GPS technology has become more accurate and reliable, allowing for more sophisticated features in GPS bike computers. The development of wireless connectivity and integration with other devices such as smartphones and smartwatches has also added to the appeal of these devices.

Rising Interest in Fitness Tracking:

Fitness tracking has become a popular trend, with many people seeking to monitor their performance metrics during exercise. GPS bike computers provide cyclists with a range of data such as distance, speed, heart rate, and calories burned, making them an attractive option for fitness enthusiasts.

Growing Trend of Adventure Cycling:

Adventure cycling has gained popularity in recent years, with more cyclists seeking to explore remote and challenging terrain. GPS bike computers with navigation features are essential tools for adventure cyclists, allowing them to plan and navigate their routes.

Increasing Awareness of Safety:

With growing concerns about road safety, GPS bike computers with features such as live tracking, accident detection, and emergency alerts are becoming more popular. These features provide cyclists with added security and peace of mind during their rides.

Overall, the GPS bike computer market is expected to continue to grow as more people take up cycling and seek to enhance their riding experience with sophisticated technology.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

GPS Bike Computer Market Vending Machine Market Jewelry Market
CAGR 5.1% (Approx) CAGR 7%

(Approx)

4.6%

(Approx)

USD 0.86 billion by 2030 USD 28 Billion by 2030 USD 488.21 billion by 2030.

While the GPS bike computer market has many growth factors, there are also some restraining factors that could limit the growth of this market.

Some of these factors include:

  • High Cost: GPS bike computers can be expensive, which can deter some consumers from purchasing them. The high cost can also limit the market size, as consumers may opt for cheaper alternatives or choose not to use a GPS bike computer at all.
  • Limited Battery Life: GPS bike computers rely on batteries to operate, and some models have limited battery life. This can be inconvenient for cyclists who want to use the GPS bike computer for extended periods, as they may need to carry extra batteries or charge the device frequently.
  • Limited Connectivity: Some GPS bike computers may have limited connectivity options, which can limit their usefulness. For example, a GPS bike computer that only connects to one type of device or app may not be as appealing to consumers as one that is compatible with multiple devices and platforms.
  • Competition from Smartphones: Many smartphones now have GPS functionality and can track cycling activity. This can make GPS bike computers less attractive to consumers who already have a smartphone with similar capabilities.
  • Data Privacy Concerns: GPS bike computers collect and store data on a cyclist’s location and activity, which can raise privacy concerns. Some consumers may be hesitant to use GPS bike computers due to these concerns.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 0.64 Billion
Projected Market Size in 2030 USD 0.86 Billion
Market Size in 2024 USD 0.67 Billion
CAGR Growth Rate 5.1% CAGR (2022-2030)
Base Year 2022
Forecast Period 2023-2032
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 Computer Market – Growth Strategies

The GPS bike computer market is highly competitive, with several established players and new entrants vying for market share. To grow and succeed in this market, companies employ several growth strategies, such as:

  • Product Innovation: Companies invest in research and development to create innovative GPS bike computers that offer new features and functionalities. This can include features like wireless connectivity, advanced navigation, and compatibility with third-party apps and platforms.
  • Marketing and Branding: Companies invest in marketing and branding efforts to build brand awareness and create a strong brand image in the minds of consumers. This can include advertising campaigns, sponsorships, and partnerships with influencers and athletes.
  • Strategic Partnerships: Companies form strategic partnerships with other companies in the cycling industry, such as bike manufacturers and cycling clubs, to offer bundled products and services that appeal to a wider customer base.
  • International Expansion: Companies expand their reach by entering new geographic markets and building relationships with local distributors and retailers. This can help companies tap into new customer segments and drive growth in revenue.
  • Acquisitions and Mergers: As mentioned earlier, companies can acquire or merge with other companies in the GPS bike computer market to gain access to new technologies, products, and customers. This can help companies grow their market share and expand their product offerings.

Global GPS Bike Computer Market 2023–2030 (By Billion)

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Overall, the GPS bike computer market is highly competitive, and companies that are successful in this market need to be innovative, agile, and responsive to changing customer needs and market trends.

GPS Bike Computers Market Segment Analysis:

The GPS Bike Computer Market is divided into two categories: Mapping and Non-Mapping, based on product type. Mapping Bike Computers utilize satellite signals to provide real-time location data in all weather conditions. These computers generate visuals and display data, making them highly useful. Mapping Bike Computers have a larger market share compared to Non-Mapping Computers. In 2022, the Mapping segment was valued at around USD 339 million and is expected to reach approximately USD 475 million with a Compound Annual Growth Rate (CAGR) of 4.9%.

The Mapping segment holds a larger market share of around 57%, but it is essential to note that growth in the market share of GPS cycle computers in the non-mapping segment is crucial during the forecast period. Non-Mapping GPS cycle computers are gaining popularity due to various related benefits, including standard computer functions for cyclists and providing information such as current speed, average speed, top speed, mileage, and distance covered. The Non-Mapping segment’s growth is expected to be around a CAGR of 5.3% for the forecasted period.

The GPS Bike Computer Market is classified into two major applications: Fitness and Commuting, and Athletics and Sports. Fitness and Commuting hold the highest market share, accounting for over 54%. GPS Bike Computers are primarily used for Fitness and Commuting purposes by customers. However, their usage has increased in Athletics training and sports. GPS Bike Computers provide valuable input for athletes to prepare and train properly. Accuracy is crucial for athletes to identify and improve their performance, and GPS Bike Computers offer the required accuracy. Therefore, their usage in sports training has increased significantly in recent times.

The GPS Bike Computer Market – Regional Analysis:

The GPS Bike Computer Market can be analyzed regionally into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.

  • North America: North America holds the largest market share in the GPS Bike Computer Market, owing to the growing adoption of cycling as a fitness and recreational activity, the increasing popularity of cycling events and competitions, and rising awareness regarding health and fitness. Furthermore, the presence of key players in the region and the development of advanced technology also contribute to the growth of the market in North America.
  • Europe: Europe also holds a significant share of the GPS Bike Computer Market due to the increasing trend of cycling as a mode of transportation, the presence of leading bicycle manufacturers in the region, and the rise in demand for technologically advanced products.
  • The Asia-Pacific: The Asia-Pacific region is expected to witness significant growth in the GPS Bike Computer Market due to the increasing popularity of cycling as a sport and recreational activity, the rising trend of fitness and health awareness, and the growing demand for advanced cycling technology.
  • The Middle East and Africa: The Middle East and Africa region is also expected to witness substantial growth in the GPS Bike Computer Market due to the increasing interest in cycling as a fitness and leisure activity and the growing popularity of cycling events and competitions.
  • South America: South America is also expected to contribute to the growth of the GPS Bike Computer Market due to the increasing demand for cycling products and accessories, rising health consciousness, and the presence of major bicycle manufacturers in the region.

Competitive Landscape and GPS Bike Computer Market Share Analysis

The GPS bike computer market is highly competitive, with several players vying for market share. The major players in the market include 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, and Polar Electro.

The GPS bike computer market report provides details on each of these companies, including their company overview, 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, and application dominance. The report focuses on the companies’ activities related to the GPS bike computer market.

Each company has its own unique strengths and weaknesses, and the report provides a comprehensive analysis of the competitive landscape in the GPS bike computer market. This analysis can help businesses understand their competition and develop strategies to gain a competitive advantage in the market.

Overall, the GPS bike computer market is dynamic and competitive, and companies that can innovate, adapt to changing market trends and offer high-quality products and services are likely to be successful in this market.

Global GPS Bike Computer Market 2023–2030 (By Type)

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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

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • 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

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global GPS Bike Computer Market, (2023 – 2030) (USD Billion)
    • 2.2 Global GPS Bike Computer Market : snapshot
  • Chapter 3. Global GPS Bike Computer Market – Industry Analysis
    • 3.1 GPS Bike Computer Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Increasing Popularity of Cycling
      • 3.2.2 Technological Advancements
      • 3.2.3 Rising Interest in Fitness Tracking
      • 3.2.4 Growing Trend of Adventure Cycling
      • 3.2.5 Increasing Awareness of Safety.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Application
      • 3.7.2 Market attractiveness analysis By Type
  • Chapter 4. Global GPS Bike Computer Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global GPS Bike Computer Market: company market share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global GPS Bike Computer Market – Application Analysis
    • 5.1 Global GPS Bike Computer Market overview: By Application
      • 5.1.1 Global GPS Bike Computer Market share, By Application, 2022 and 2030
    • 5.2 Athletics and Sports
      • 5.2.1 Global GPS Bike Computer Market by Athletics and Sports, 2023 – 2030 (USD Billion)
    • 5.3 Fitness and Commuting
      • 5.3.1 Global GPS Bike Computer Market by Fitness and Commuting, 2023 – 2030 (USD Billion)
    • 5.4 Recreational/Leisure
      • 5.4.1 Global GPS Bike Computer Market by Recreational/Leisure, 2023 – 2030 (USD Billion)
  • Chapter 6. Global GPS Bike Computer Market – Type Analysis
    • 6.1 Global GPS Bike Computer Market overview: By Type
      • 6.1.1 Global GPS Bike Computer Market share, By Type, 2022 and 2030
    • 6.2 Mapping
      • 6.2.1 Global GPS Bike Computer Market by Mapping, 2023 – 2030 (USD Billion)
    • 6.3 Non-mapping
      • 6.3.1 Global GPS Bike Computer Market by Non-mapping, 2023 – 2030 (USD Billion)
  • Chapter 7. GPS Bike Computer Market – Regional Analysis
    • 7.1 Global GPS Bike Computer Market Regional Overview
    • 7.2 Global GPS Bike Computer Market Share, by Region, 2022 & 2030 (USD Billion)
    • 7.3. North America
      • 7.3.1 North America GPS Bike Computer Market, 2023 – 2030 (USD Billion)
        • 7.3.1.1 North America GPS Bike Computer Market, by Country, 2023 – 2030 (USD Billion)
    • 7.4 North America GPS Bike Computer Market, by Application, 2023 – 2030
      • 7.4.1 North America GPS Bike Computer Market, by Application, 2023 – 2030 (USD Billion)
    • 7.5 North America GPS Bike Computer Market, by Type, 2023 – 2030
      • 7.5.1 North America GPS Bike Computer Market, by Type, 2023 – 2030 (USD Billion)
    • 7.6. Europe
      • 7.6.1 Europe GPS Bike Computer Market, 2023 – 2030 (USD Billion)
        • 7.6.1.1 Europe GPS Bike Computer Market, by Country, 2023 – 2030 (USD Billion)
    • 7.7 Europe GPS Bike Computer Market, by Application, 2023 – 2030
      • 7.7.1 Europe GPS Bike Computer Market, by Application, 2023 – 2030 (USD Billion)
    • 7.8 Europe GPS Bike Computer Market, by Type, 2023 – 2030
      • 7.8.1 Europe GPS Bike Computer Market, by Type, 2023 – 2030 (USD Billion)
    • 7.9. Asia Pacific
      • 7.9.1 Asia Pacific GPS Bike Computer Market, 2023 – 2030 (USD Billion)
        • 7.9.1.1 Asia Pacific GPS Bike Computer Market, by Country, 2023 – 2030 (USD Billion)
    • 7.10 Asia Pacific GPS Bike Computer Market, by Application, 2023 – 2030
      • 7.10.1 Asia Pacific GPS Bike Computer Market, by Application, 2023 – 2030 (USD Billion)
    • 7.11 Asia Pacific GPS Bike Computer Market, by Type, 2023 – 2030
      • 7.11.1 Asia Pacific GPS Bike Computer Market, by Type, 2023 – 2030 (USD Billion)
    • 7.12. Latin America
      • 7.12.1 Latin America GPS Bike Computer Market, 2023 – 2030 (USD Billion)
        • 7.12.1.1 Latin America GPS Bike Computer Market, by Country, 2023 – 2030 (USD Billion)
    • 7.13 Latin America GPS Bike Computer Market, by Application, 2023 – 2030
      • 7.13.1 Latin America GPS Bike Computer Market, by Application, 2023 – 2030 (USD Billion)
    • 7.14 Latin America GPS Bike Computer Market, by Type, 2023 – 2030
      • 7.14.1 Latin America GPS Bike Computer Market, by Type, 2023 – 2030 (USD Billion)
    • 7.15. The Middle-East and Africa
      • 7.15.1 The Middle-East and Africa GPS Bike Computer Market, 2023 – 2030 (USD Billion)
        • 7.15.1.1 The Middle-East and Africa GPS Bike Computer Market, by Country, 2023 – 2030 (USD Billion)
    • 7.16 The Middle-East and Africa GPS Bike Computer Market, by Application, 2023 – 2030
      • 7.16.1 The Middle-East and Africa GPS Bike Computer Market, by Application, 2023 – 2030 (USD Billion)
    • 7.17 The Middle-East and Africa GPS Bike Computer Market, by Type, 2023 – 2030
      • 7.17.1 The Middle-East and Africa GPS Bike Computer Market, by Type, 2023 – 2030 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1 SIGMA-ELEKTRO GmbH
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 BBB Cycling
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 Cycle Parts GmbH
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 Bryton Inc.
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 Trek Bicycle Corporation
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 Garmin Ltd.
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 BION INC.
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 Pioneer Electronics (USA) Inc.
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 omata
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 CATEYE CO. LTD.
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments
    • 8.11 Giant Bicycles
      • 8.11.1 Overview
      • 8.11.2 Financials
      • 8.11.3 Product Portfolio
      • 8.11.4 Business Strategy
      • 8.11.5 Recent Developments
    • 8.12 Evans Cycles
      • 8.12.1 Overview
      • 8.12.2 Financials
      • 8.12.3 Product Portfolio
      • 8.12.4 Business Strategy
      • 8.12.5 Recent Developments
    • 8.13 Wahoo Fitness
      • 8.13.1 Overview
      • 8.13.2 Financials
      • 8.13.3 Product Portfolio
      • 8.13.4 Business Strategy
      • 8.13.5 Recent Developments
    • 8.14 Cambria Bike
      • 8.14.1 Overview
      • 8.14.2 Financials
      • 8.14.3 Product Portfolio
      • 8.14.4 Business Strategy
      • 8.14.5 Recent Developments
    • 8.15 Xplova Inc.
      • 8.15.1 Overview
      • 8.15.2 Financials
      • 8.15.3 Product Portfolio
      • 8.15.4 Business Strategy
      • 8.15.5 Recent Developments
    • 8.16 Recreational Equipment Inc.
      • 8.16.1 Overview
      • 8.16.2 Financials
      • 8.16.3 Product Portfolio
      • 8.16.4 Business Strategy
      • 8.16.5 Recent Developments
    • 8.17 MiTAC Digital Technology Corporation
      • 8.17.1 Overview
      • 8.17.2 Financials
      • 8.17.3 Product Portfolio
      • 8.17.4 Business Strategy
      • 8.17.5 Recent Developments
    • 8.18 XOSS
      • 8.18.1 Overview
      • 8.18.2 Financials
      • 8.18.3 Product Portfolio
      • 8.18.4 Business Strategy
      • 8.18.5 Recent Developments
    • 8.19 Lezyne
      • 8.19.1 Overview
      • 8.19.2 Financials
      • 8.19.3 Product Portfolio
      • 8.19.4 Business Strategy
      • 8.19.5 Recent Developments
    • 8.20 Polar Electro.
      • 8.20.1 Overview
      • 8.20.2 Financials
      • 8.20.3 Product Portfolio
      • 8.20.4 Business Strategy
      • 8.20.5 Recent Developments
List Of Figures

Figures No 1 to 19

List Of Tables

Tables No 1 to 52

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Players

  • 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

FAQs

“North America” region will lead the global GPS Bike Computer market during the forecast period 2023 to 2030.

The key factors driving the market are Increasing Popularity of Cycling, Technological Advancements, Rising Interest in Fitness Tracking, Growing Trend of Adventure Cycling and Increasing Awareness of Safety.

The key players operating in the GPS Bike Computer market are 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, and Polar Electro.

The global GPS Bike Computer market is expanding growth with a CAGR of approximately 5.1% during the forecast period (2023 to 2030).

The global GPS Bike Computer market size was valued at USD 0.64 Billion in 2021 and it is projected to reach around USD 0.86 Billion by 2030.

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