LONDON–(BUSINESS WIRE)–The GPS bike computer systems market is anticipated to develop by USD 174.53 million throughout 2020-2024, increasing at a CAGR of virtually 5%. The report additionally offers the market influence and new alternatives created as a result of COVID-19 pandemic. We count on the influence to be important within the first quarter however progressively reduce in subsequent quarters – with a restricted influence on the full-year financial development.
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GPS Bike Computer systems Market: Rising adoption of good biking merchandise to drive development
Rising well being consciousness and rising consciousness of good wearables are elements encouraging distributors to introduce modern merchandise to draw customers. For example, Garmin Worldwide launched Edge 1030, a high-end biking GPS bike pc that provides a mix of enhanced navigation, efficiency, and biking consciousness. It has a light-weight design and auto-adjustable display brightness within the gadget which permits customers to function even throughout dangerous climate situations or with moist fingers or gloves. Equally, Polar Electro presents Polar V650, a state-of-art bike pc designed particularly for skilled cyclists who need to analyze each facet of their biking efficiency. The gadget is provided with Polar Good Teaching options that meet the necessities of each amateurs in addition to skilled cyclists. Such modern product launches are fueling the expansion of the worldwide GPS bike computer systems market.
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As per Technavio, the introduction of GPS bike computer systems with analog show and digital knowledge assortment may have a optimistic influence in the marketplace and contribute to its development considerably over the forecast interval. This analysis report additionally analyzes different important developments and market drivers that may affect market development over 2020-2024.
GPS Bike Computer systems Market: Introduction of GPS Bike Computer systems with Analog Show and Digital Knowledge Assortment
The rising shopper choice for reasonably priced GPS bike computer systems is driving market gamers to fabricate low value, featured, straightforward to make use of, and distinctive designed merchandise. This has led to the introduction of trending analog GPS bike computer systems. For example, Omata One is a Finnish-made instrument with easy and clever design, intuitive analog shows, and digital knowledge assortment. It’s geared up with a broad three-dimensional dial and is appropriate with Bluetooth Low Power (BLE) and ANT+ protocols with coronary heart fee sensors and energy output meters for measuring statistics like good GPS bike computer systems. This pattern is anticipated to have a optimistic influence on the expansion of the market through the forecast interval.
“Rising adoption of bicycles to take care of health and the rising adoption of GPS units in sports activities analytics will additional enhance market development through the forecast interval,” says a senior analyst at Technavio.
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GPS Bike Computer systems Market: Segmentation Evaluation
This market analysis report segments the GPS bike computers market by Product (Non-mapping and Mapping), Geography (North America, Europe, APAC, MEA, and South America), and Software (Health and commuting and Athletics and sports activities).
The non-mapping phase led the GPS bike computer systems market in 2019. The rising variety of novice cyclists, health fans, commuters, and biking vacationers, particularly in MEA and APAC has elevated the adoption of GPS bike computer systems that observe fundamental well being and health actions. Additionally, the provision of decrease and mid-price GPS bike computer systems has been contributing to the expansion of the phase available in the market.
The North American area led the GPS bike computer systems market in 2019, adopted by Europe, APAC, MEA, and South America respectively. In the course of the forecast interval, North America is anticipated to register the best incremental development as a result of robust inclination for outside sports activities actions among the many inhabitants within the area.
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Among the key matters lined within the report embody:
- Distributors lined
- Vendor classification
- Market positioning of distributors
- Aggressive state of affairs
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