Outdoor Sports GPS Device Market To Reach US$ 50.8 Billion by 2032 | CAGR of 12.31%
Outdoor Sports GPS Device Market
The global market is majorly driven by the increasing trend of outdoor recreational activities and adventure sports among individuals of all ages.
SHERIDAN, WYOMING, UNITED STATES, April 15, 2024 /EINPresswire.com/ -- IMARC Group’s latest report, titled “Outdoor Sports GPS Device Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, the global outdoor sports GPS device market size reached US$ 17.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 50.8 Billion by 2032, exhibiting a growth rate (CAGR) of 12.31% during 2024-2032.
An Outdoor Sports GPS Device is a compact and portable electronic device designed to enhance outdoor recreational activities by providing accurate location data, navigation assistance, and performance tracking features. Utilizing Global Positioning System (GPS) technology, these devices offer real-time tracking of movement, enabling users to monitor their routes, distances covered, and elevation changes during activities such as hiking, cycling, running, or skiing. Equipped with robust features like waypoints, route planning, and altitude measurements, outdoor sports GPS devices empower adventurers to navigate unfamiliar terrain confidently while also offering safety features like emergency alerts and location sharing. With durable construction and waterproof designs, these devices are essential tools for outdoor enthusiasts seeking to optimize their experiences and stay connected in remote environments.
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Leading key Players in the Outdoor Sports GPS Device Industry:
• Apple Inc.
• Bryton Inc.
• Bushnell Corporation (Vista Outdoor Inc.)
• Fitbit Inc. (Google LLC)
• Garmin Ltd.
• GlobalSat WorldCom Corporation
• Goyourlife Inc.
• Polar Electro Oy
• Samsung Electronics Co. Ltd.
• Suunto Oy (Dongguan Liesheng Electronic Technology Co. Ltd.)
• TomTom N.V.
Outdoor Sports GPS Device Market Trends:
The global market is majorly driven by the increasing trend of outdoor recreational activities and adventure sports among individuals of all ages. As more people seek to explore and challenge themselves in natural environments, the need for reliable navigation tools becomes paramount, driving the market forward. Additionally, advancements in GPS technology, including improved accuracy, faster satellite acquisition, and enhanced battery life, are making these devices more appealing and accessible to consumers. Furthermore, rising concerns regarding safety and security during outdoor activities are prompting individuals to invest in GPS devices equipped with features such as SOS alerts and real-time tracking capabilities, thus bolstering market growth. Moreover, the integration of GPS functionality into other wearable devices, such as smartwatches and fitness trackers, is expanding the market reach by offering multi-purpose solutions for outdoor enthusiasts. Furthermore, the growing popularity of geocaching, outdoor fitness challenges, and adventure tourism is fueling demand for GPS devices that can provide precise location data and facilitate interactive experiences.
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Key Market Segmentation:
Type Insights:
• Handheld Device
• Wearable Device
Application Insights:
• Golf
• Running
• Cycling
Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
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About Us:
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IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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