According to the new market research report “GPS Adventure Watches - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”, published by QYResearch, the global GPS Adventure Watches market size is projected to reach USD 3.68 billion by 2029, at a CAGR of 14.1% during the forecast period.
- Global GPS Adventure Watches MarketSize(US$ Million), 2018-2029
Source: QYResearch, "GPS Adventure Watches - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
- Global GPS Adventure Watches Top11Players Ranking and Market Share (Ranking is based on the revenue of 2022, continually updated)
Source: QYResearch, "GPS Adventure Watches - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
According to QYResearch Top Players Research Center, the global key manufacturers of GPS Adventure Watches include Casio, Garmin, Coros, Polar, Suunto, Apple, Honor, Tissot, Elliot Brown, Amazfit, etc. In 2022, the global top five players had a share approximately 72.0% in terms of revenue..
Market Drivers:
Emphasis on Healthy Lifestyles: Modern individuals place a high value on outdoor activities such as hiking, mountaineering, and cycling as part of a healthy lifestyle. GPS adventure watches provide features such as location tracking, navigation, and activity data recording, catering to the needs of outdoor enthusiasts;
Safety Requirements: Safety is a paramount concern during outdoor activities. The GPS functionality of adventure watches can assist users in finding their way when lost outdoors, thereby enhancing safety;
Data Recording and Sharing: Outdoor enthusiasts have a desire to record their activity data and share it with others. GPS adventure watches can record metrics such as distance, altitude, speed, and more, allowing users to share their experiences with fellow enthusiasts through dedicated applications;
Diverse Outdoor Activities: Different outdoor activities have varying requirements for GPS adventure watches. For instance, mountaineers may prioritize altitude data, while cyclists may focus on speed and route planning. Customizable features tailored to specific outdoor activities cater to the diverse needs of outdoor enthusiasts.
Restraint:
Price: High-end GPS adventure watches often come with a significant price tag, potentially limiting the purchasing willingness of some consumers;
Battery Life: Concerns regarding the battery life of GPS watches, especially during prolonged outdoor activities, may deter potential buyers.
Opportunity:
Enhanced Smart Features: Integrating more smart functions into GPS adventure watches, such as smart reminders and payment capabilities, to meet the diverse needs of consumers;
Market Expansion: Tailoring GPS adventure watches to different outdoor activity enthusiasts, such as hikers, cyclists, and mountaineers, to address specific needs within these segments;
Sustainable Materials: Utilizing eco-friendly materials in the manufacturing of GPS adventure watches to align with the growing consumer focus on sustainability.
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