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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 Summary
Study Period 2019 - 2029
Market Size (2024) USD 684.90 Million
Market Size (2029) USD 927.40 Million
CAGR (2024 - 2029) > 6.00 %
Fastest Growing Market Europe
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 size is estimated at USD 684.90 million in 2024, and is expected to reach USD 927.40 million by 2029, growing at a CAGR of greater than 6% during the forecast period (2024-2029).

The market has witnessed substantial growth in recent years, driven by increasing consumer interest in cycling as a fitness and recreational activity. Recent technological advancements have led to the development of feature-rich GPS bike computers, offering functionalities like navigation, ride data tracking, and wireless connectivity.

In 2023, the market witnessed the introduction of devices with enhanced battery life and improved display resolution, catering to the demands of both professional cyclists and fitness enthusiasts. Several countries witnessed a surge in recreational bicycle activities, which boosted the demand for GPS bike computers to track fitness activities, health monitoring while cycling, and navigation purposes.

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 and heart rate sensors. It is well-suited with Bluetooth Low Energy (BLE), a broad three-dimensional dial, and power output meters for measurement statistics, such as smart GPS bike computers.

Such trends are projected to positively impact the GPS bike computers market over the forecast period.

GPS Bike Computers Industry Segmentation

GPS bike computers are specialized devices used by cyclists to track and monitor their rides. Equipped with global positioning system (GPS) technology, these devices provide real-time location data, navigation assistance, and performance metrics such as speed, distance, and elevation.

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 forecasts have been done based on value (USD).

By Application
Athletics and Sports
Fitness and Commuting
Recreational/Leisure
By Type
Mapping
Non-mapping
By 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

      1. 1.1.1 Rising E-bike Sales to Boost the Demand for GPS Bike Computers

    2. 1.2 Market Restraints

      1. 1.2.1 The High Cost Associated with GPS Bike Computers May Hinder Market Growth

    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)

    1. 2.1 By Application

      1. 2.1.1 Athletics and Sports

      2. 2.1.2 Fitness and Commuting

      3. 2.1.3 Recreational/Leisure

    2. 2.2 By Type

      1. 2.2.1 Mapping

      2. 2.2.2 Non-mapping

    3. 2.3 By 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 size is expected to reach USD 684.90 million in 2024 and grow at a CAGR of greater than 6% to reach USD 927.40 million by 2029.

In 2024, the GPS Bike Computers Market size is expected to reach USD 684.90 million.

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