The global outdoor sports GPS device market size reached US$ 15.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 33.2 Billion by 2028, exhibiting a growth rate (CAGR) of 14.10% during 2023-2028. The growing popularity of outdoor sports, increasing adoption of premium quality wearables devices due to inflating income level of individuals, and rising demand for enhanced safety among individuals represent some of the key factors driving the market.
Outdoor sports global positioning system (GPS) device relies on satellite navigation to provide real-time positioning and tracking information of individuals while performing outdoor activities. It is durable, accurate, lightweight, compact, easily accessible, and available with rechargeable or replaceable batteries. It tracks progress, sets various goals, identifies areas of improvement, and maintains detailed records of outdoor activities for comparison and other purposes. It assists in improving safety by providing real-time location and emergency alert capabilities. It also aids in enhancing the performance and optimizing training of fitness enthusiasts by offering insights about the speed, distance covered, calories burned, time spent, and heart rate. Besides this, it is beneficial in monitoring fitness levels and collecting information shared with others. As it eliminates the need for traditional paper maps and has the capability to download data, the demand for outdoor sports GPS device is rising across the globe.
Outdoor Sports GPS Device Market Trends:
At present, the increasing popularity of outdoor sports activities to maintain a healthy body and mind among individuals represents one of the major factors influencing the market positively. Additionally, the rising demand for premium quality wearables devices due to the inflating income levels is contributing to the growth of the market. Apart from this, the growing adoption of outdoor sports GPS devices due to the increasing demand for enhanced safety among individuals across the globe is offering a positive market outlook. Moreover, the rising utilization of GPS devices in golf sports to provide accurate maps of the golf course and analyze statistical data of golf shots is supporting the growth of the market. Besides this, the increasing adoption of outdoor sports GPS devices to easily find nearby points of interest without wasting time is offering lucrative growth opportunities to industry investors. In addition, there is a rise in the demand for highly durable, cost-effective, waterproof, weather-resistant, and shockproof devices among the masses. This, coupled with the increasing adoption of GPS-enabled smartwatches that are convenient to use and carry and provide an attractive look, is bolstering the growth of the market. Furthermore, the rising number of road bicycle racing events across the globe is strengthening the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global outdoor sports GPS device market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on type and application.
- Handheld Device
- Wearable Device
The report has provided a detailed breakup and analysis of the outdoor sports GPS device market based on the type. This includes handheld device and wearable device. According to the report, handheld device represented the largest segment.
A detailed breakup and analysis of the outdoor sports GPS device market based on the application has also been provided in the report. This includes golf, running, and cycling. According to the report, golf accounted for the largest market share.
- North America
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for outdoor sports GPS device. Some of the factors driving the North America outdoor sports GPS device market included the growing demand due to availability of advanced technologies, increasing participation of people in outdoor sports activities, rising safety concerns among individuals, etc.
The report has also provided a comprehensive analysis of the competitive landscape in the global outdoor sports GPS device market. Detailed profiles of all major companies have been provided. Some of the companies covered include 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., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
|Scope of the Report
Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
||Handheld Device, Wearable Device
||Golf, Running, Cycling
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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., etc.
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Key Questions Answered in This Report:
- How has the global outdoor sports GPS device market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global outdoor sports GPS device market?
- What is the impact of each driver, restraint, and opportunity on the global outdoor sports GPS device market?
- What are the key regional markets?
- Which countries represent the most attractive outdoor sports GPS device market?
- What is the breakup of the market based on the type?
- Which is the most attractive type in the outdoor sports GPS device market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the outdoor sports GPS device market?
- What is the competitive structure of the global outdoor sports GPS device market?
- Who are the key players/companies in the global outdoor sports GPS device market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the outdoor sports GPS device market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global outdoor sports GPS device market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the outdoor sports GPS device industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.