GPS Bike Computers Market Size (2024 - 2029)

The GPS bike computers market is anticipated to experience growth over the forecast period, driven by changing consumer preferences and increased cycling activities post-pandemic. The market size is influenced by the demand for affordable and user-friendly GPS bike computers, which are becoming popular for fitness tracking and navigation. Europe is expected to see significant expansion due to a growing cycling population, while North America and Asia-Pacific are also projected to grow, supported by a strong interest in outdoor recreational activities.

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Market Size of GPS Bike Computers Industry

GPS Bike Computers Market Size
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

GPS Bike Computers Market Major Players

*Disclaimer: Major Players sorted in no particular order

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.

GPS Bike Computers Industry Segmentation

A GPS bike computer is an instrument attached to a bike that shows the route and time to reach a destination throughout the trip. It is similar to the odometer or speedometer on a vehicle's dashboard. The device is attached to the handlebar to be visible to the rider. The GPS bike computers market report covers the latest trends, COVID-19 impact, and technological developments.

The scope of the report covers segmentation by type, application, and geography. By type, the market is segmented into mapping and non-mapping. By application, the market is segmented into athletics and sports, fitness and commuting, and recreational/leisure. By geography, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world. For each segment, market sizing and forecast have been done based on value (USD million).

Application
Athletics and Sports
Fitness and Commuting
Recreational/Leisure
Type
Mapping
Non-mapping
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Spain
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
South America
Middle-East and Africa
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GPS Bike Computers Market Size Summary

The GPS bike computers market is poised for significant growth, driven by increasing consumer interest in cycling for fitness and recreational purposes. The market experienced a downturn due to the COVID-19 pandemic, which disrupted manufacturing and altered consumer spending habits. However, as lockdowns eased, there was a notable resurgence in cycling activities, boosting the demand for GPS bike computers. These devices are increasingly sought after for their ability to track fitness metrics and provide navigation assistance. The market is expected to benefit from a growing preference for affordable, user-friendly, and feature-rich GPS bike computers, with key players focusing on innovative designs and technologies to cater to this demand.

Regionally, Europe is anticipated to witness substantial growth, supported by a rising cycling population and the use of bikes in various sectors such as delivery services. North America and Asia-Pacific are also expected to experience notable growth, driven by a strong inclination towards outdoor recreational activities. The demand for GPS bike computers is further bolstered by the expanding applications in fitness and commuting, as well as government incentives promoting bicycle use. The market is moderately consolidated, with major players like Garmin, Wahoo Fitness, and Bryton Inc. actively engaging in product launches and strategic acquisitions to enhance their market presence and technological offerings. These developments, coupled with the increasing adoption of bicycles for various purposes, are expected to sustain the market's growth trajectory over the forecast period.

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GPS Bike Computers Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value in USD million)

    1. 2.1 Application

      1. 2.1.1 Athletics and Sports

      2. 2.1.2 Fitness and Commuting

      3. 2.1.3 Recreational/Leisure

    2. 2.2 Type

      1. 2.2.1 Mapping

      2. 2.2.2 Non-mapping

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Rest of North America

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Spain

        5. 2.3.2.5 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 India

        2. 2.3.3.2 China

        3. 2.3.3.3 Japan

        4. 2.3.3.4 South Korea

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 Rest of the World

        1. 2.3.4.1 South America

        2. 2.3.4.2 Middle-East and Africa

GPS Bike Computers Market Size FAQs

The GPS Bike Computers Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

Garmin Ltd, Lezyne Inc., Polar Electro Oy, Bryton Inc and CatEye Co. Ltd are the major companies operating in the GPS Bike Computers Market.

GPS Bike Computers Market Report Snapshots

GPS Bike Computers Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)