Market Size of GPS Bike Computers Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 6.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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GPS Bike Computers Market Analysis
The GPS bike computers market was valued at around USD 542.5 million in 2021, and it is expected to reach USD 768.0 million by 2027, registering a CAGR of about 6.0% during the forecast period (2022 - 2027).
The COVID-19 pandemic impacted the market negatively, resulting in a shutdown of manufacturing units and lockdowns in nearly all the major regions. This trend altered consumer spending patterns across the world. However, post the easing of lockdown measures, many individuals across the world preferred cycling activities due to fitness reasons. Also, several countries witnessed a surge in recreational bicycle activities, which boosted the demand for bike computers to track fitness activities, health monitoring while cycling, and navigation purposes.
Over the medium term, the rising customer inclination toward affordable GPS bike computers may propel key players to manufacture low cost, uniquely designed, easy to use, and featured products. For instance, Omata One is a digital data collector instrument with an intelligent and simple design and intuitive analog displays. It is equipped with ANT+ protocols with heart rate sensors. It is well-suited with Bluetooth Low Energy (BLE) and broad three-dimensional dial and power output meters for measurement statistics, such as smart GPS bike computers. This inclination is projected to positively impact the GPS bike computers market over the forecast period.
Europe is expected to have significant growth over the forecast period. The market demand will likely be supported by the rising cycling population and vivid use of bikes for various sectors like delivery. The North American region, followed by Asia-Pacific, is likely to have notable growth over the forecast period due to the strong preference among individuals for outdoor recreational activities.
