NEW YORK, March 9, 2023 /PRNewswire/ — The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China’s already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
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Global Recreational, Outdoor, and Fitness GPS Devices Market to Reach $5.6 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Recreational, Outdoor, and Fitness GPS Devices estimated at US$1.9 Billion in the year 2022, is projected to reach a revised size of US$5.6 Billion by 2030, growing at a CAGR of 14.3% over the period 2022-2030.
The U.S. Market is Estimated at $567.9 Million, While China is Forecast to Grow at 13.7% CAGR
The Recreational, Outdoor, and Fitness GPS Devices market in the U.S. is estimated at US$567.9 Million in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$975.6 Million by the year 2030 trailing a CAGR of 13.7% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12.2% and 11.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 9.8% CAGR.
Select Competitors (Total 52 Featured)
– Apple Inc.
– Bryton Inc.
– Garmin International Inc.
– HOLUX Technology Inc.
– Lowrance Electronics
– Magellan Navigation Inc.
– Mio Technology Corporation
– MiTAC International Corporation
– Navman Technology NZ Ltd.
– Samsung Electronics Co., Ltd.
– Satmap Systems Ltd.
– TomTom N.V.
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I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Global Positioning System (GPS): An Introductory Prelude
Recent Market Activity
GPS Technology – Expanding Opportunities in Recreation, Outdoor &
Fitness Verticals
Spectacular Growth on the Cards for Recreational, Outdoor &
Fitness GPS Devices
Upward Trajectory in the CE Sector Creates Fertile Environment
Rising Interest in Sophisticated Lifestyle Gadgets Maintains
Growth Momentum
Developed Regions Rapidly Evolve as Primary Consumers of GPS
Devices
Potential Opportunities Prevail in Developing Regions
Recreational, Outdoor, and Fitness GPS Devices – Global Key
Competitors Percentage Market Share in 2022 (E)
Impact of Covid-19 and a Looming Global Recession
Competitive Market Presence – Strong/Active/Niche/Trivial for
Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
Apple, Inc. (USA)
Bryton, Inc. (Taiwan)
Bushnell Corporation (USA)
Garmin International, Inc. (USA)
HOLUX Technology, Inc. (Taiwan)
Lowrance Electronics (USA)
MiTAC International Corporation (Taiwan)
Magellan Navigation, Inc. (USA)
Mio Technology Corporation (Taiwan)
Navman (New Zealand)
Samsung Electronics Co., Ltd. (South Korea)
Satmap Systems Ltd. (UK)
TomTom N.V. (The Netherlands)
3. MARKET TRENDS & DRIVERS
Recreational & Fitness Products Spearhead Market Growth
GPS Wristwatches: Mainstay for Fitness GPS Businesses
Product Innovations Spur Momentum in GPS Watches Vertical
Outdoor Sports GPS Devices Rise in Demand
Rising Interest in Golf Offers Lucrative Prospects
GPS-Integrated Cycle Computers – A Growing Market
GPS Devices to Draw Future Growth from Non-Professional Segment
Handheld GPS Devices Continue to Rise in Demand
GPS Based Analytics – An Upcoming Potential Market
HUDs Garner Growing Interest
Augmented Reality Finds Place in GPS Devices
GPS Evolves into USP for Digital Cameras & Mobile Handsets
Smartphone Apps – A Threat & Boon for GPS Device Makers
GPS Leaders Jump onto Smartphone GPS Bandwagon
Navigation Software Enabled Smartphones & Tablets Upstage PND
Market
Favorable Demographic & Socio-Economic Trends Augur Well
Rapid Growth in Urban Households
Burgeoning Middle Class Population
Rising Living Standards
Stable Economic Scenario
Privacy Concerns – A Key Challenge to Growth
4. GLOBAL MARKET PERSPECTIVE
Table 1: World Recent Past, Current & Future Analysis for
Recreational, Outdoor, and Fitness GPS Devices by Geographic
Region – USA, Canada, Japan, China, Europe, Asia-Pacific and
Rest of World Markets – Independent Analysis of Annual Sales in
US$ Thousand for Years 2022 through 2030 and % CAGR
Table 2: World Historic Review for Recreational, Outdoor, and
Fitness GPS Devices by Geographic Region – USA, Canada, Japan,
China, Europe, Asia-Pacific and Rest of World Markets –
Independent Analysis of Annual Sales in US$ Thousand for Years
2014 through 2021 and % CAGR
Table 3: World 16-Year Perspective for Recreational, Outdoor,
and Fitness GPS Devices by Geographic Region – Percentage
Breakdown of Value Sales for USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets for Years 2014, 2023 &
2030
Table 4: World Recreational, Outdoor, and Fitness GPS Devices
Market Analysis of Annual Sales in US$ Thousand for Years 2014
through 2030
III. MARKET ANALYSIS
UNITED STATES
Recreational, Outdoor, and Fitness GPS Devices Market Presence –
Strong/Active/Niche/Trivial – Key Competitors in the United
States for 2023 (E)
Table 5: USA Recent Past, Current & Future Analysis for
Recreational, Outdoor, and Fitness GPS Devices by Segment –
Recreational, Outdoor, and Fitness GPS Devices – Independent
Analysis of Annual Sales in US$ Thousand for the Years 2022
through 2030 and % CAGR
Table 6: USA Historic Review for Recreational, Outdoor, and
Fitness GPS Devices by Segment – Recreational, Outdoor, and
Fitness GPS Devices Markets – Independent Analysis of Annual
Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
CANADA
Table 7: Canada Recent Past, Current & Future Analysis for
Recreational, Outdoor, and Fitness GPS Devices by Segment –
Recreational, Outdoor, and Fitness GPS Devices – Independent
Analysis of Annual Sales in US$ Thousand for the Years 2022
through 2030 and % CAGR
Table 8: Canada Historic Review for Recreational, Outdoor, and
Fitness GPS Devices by Segment – Recreational, Outdoor, and
Fitness GPS Devices Markets – Independent Analysis of Annual
Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
JAPAN
Recreational, Outdoor, and Fitness GPS Devices Market Presence –
Strong/Active/Niche/Trivial – Key Competitors in Japan for
2023 (E)
Table 9: Japan Recent Past, Current & Future Analysis for
Recreational, Outdoor, and Fitness GPS Devices by Segment –
Recreational, Outdoor, and Fitness GPS Devices – Independent
Analysis of Annual Sales in US$ Thousand for the Years 2022
through 2030 and % CAGR
Table 10: Japan Historic Review for Recreational, Outdoor, and
Fitness GPS Devices by Segment – Recreational, Outdoor, and
Fitness GPS Devices Markets – Independent Analysis of Annual
Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
CHINA
Recreational, Outdoor, and Fitness GPS Devices Market Presence –
Strong/Active/Niche/Trivial – Key Competitors in China for
2023 (E)
Table 11: China Recent Past, Current & Future Analysis for
Recreational, Outdoor, and Fitness GPS Devices by Segment –
Recreational, Outdoor, and Fitness GPS Devices – Independent
Analysis of Annual Sales in US$ Thousand for the Years 2022
through 2030 and % CAGR
Table 12: China Historic Review for Recreational, Outdoor, and
Fitness GPS Devices by Segment – Recreational, Outdoor, and
Fitness GPS Devices Markets – Independent Analysis of Annual
Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
EUROPE
Recreational, Outdoor, and Fitness GPS Devices Market Presence –
Strong/Active/Niche/Trivial – Key Competitors in Europe for
2023 (E)
Table 13: Europe Recent Past, Current & Future Analysis for
Recreational, Outdoor, and Fitness GPS Devices by Geographic
Region – France, Germany, Italy, UK and Rest of Europe Markets –
Independent Analysis of Annual Sales in US$ Thousand for
Years 2022 through 2030 and % CAGR
Table 14: Europe Historic Review for Recreational, Outdoor, and
Fitness GPS Devices by Geographic Region – France, Germany,
Italy, UK and Rest of Europe Markets – Independent Analysis of
Annual Sales in US$ Thousand for Years 2014 through 2021 and %
CAGR
Table 15: Europe 16-Year Perspective for Recreational, Outdoor,
and Fitness GPS Devices by Geographic Region – Percentage
Breakdown of Value Sales for France, Germany, Italy, UK and
Rest of Europe Markets for Years 2014, 2023 & 2030
FRANCE
Recreational, Outdoor, and Fitness GPS Devices Market Presence –
Strong/Active/Niche/Trivial – Key Competitors in France for
2023 (E)
Table 16: France Recent Past, Current & Future Analysis for
Recreational, Outdoor, and Fitness GPS Devices by Segment –
Recreational, Outdoor, and Fitness GPS Devices – Independent
Analysis of Annual Sales in US$ Thousand for the Years 2022
through 2030 and % CAGR
Table 17: France Historic Review for Recreational, Outdoor, and
Fitness GPS Devices by Segment – Recreational, Outdoor, and
Fitness GPS Devices Markets – Independent Analysis of Annual
Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
GERMANY
Recreational, Outdoor, and Fitness GPS Devices Market Presence –
Strong/Active/Niche/Trivial – Key Competitors in Germany for
2023 (E)
Table 18: Germany Recent Past, Current & Future Analysis for
Recreational, Outdoor, and Fitness GPS Devices by Segment –
Recreational, Outdoor, and Fitness GPS Devices – Independent
Analysis of Annual Sales in US$ Thousand for the Years 2022
through 2030 and % CAGR
Table 19: Germany Historic Review for Recreational, Outdoor,
and Fitness GPS Devices by Segment – Recreational, Outdoor, and
Fitness GPS Devices Markets – Independent Analysis of Annual
Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
ITALY
Table 20: Italy Recent Past, Current & Future Analysis for
Recreational, Outdoor, and Fitness GPS Devices by Segment –
Recreational, Outdoor, and Fitness GPS Devices – Independent
Analysis of Annual Sales in US$ Thousand for the Years 2022
through 2030 and % CAGR
Table 21: Italy Historic Review for Recreational, Outdoor, and
Fitness GPS Devices by Segment – Recreational, Outdoor, and
Fitness GPS Devices Markets – Independent Analysis of Annual
Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
UNITED KINGDOM
Recreational, Outdoor, and Fitness GPS Devices Market Presence –
Strong/Active/Niche/Trivial – Key Competitors in the United
Kingdom for 2023 (E)
Table 22: UK Recent Past, Current & Future Analysis for
Recreational, Outdoor, and Fitness GPS Devices by Segment –
Recreational, Outdoor, and Fitness GPS Devices – Independent
Analysis of Annual Sales in US$ Thousand for the Years 2022
through 2030 and % CAGR
Table 23: UK Historic Review for Recreational, Outdoor, and
Fitness GPS Devices by Segment – Recreational, Outdoor, and
Fitness GPS Devices Markets – Independent Analysis of Annual
Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
REST OF EUROPE
Table 24: Rest of Europe Recent Past, Current & Future Analysis
for Recreational, Outdoor, and Fitness GPS Devices by Segment –
Recreational, Outdoor, and Fitness GPS Devices – Independent
Analysis of Annual Sales in US$ Thousand for the Years 2022
through 2030 and % CAGR
Table 25: Rest of Europe Historic Review for Recreational,
Outdoor, and Fitness GPS Devices by Segment – Recreational,
Outdoor, and Fitness GPS Devices Markets – Independent Analysis
of Annual Sales in US$ Thousand for Years 2014 through 2021 and
% CAGR
ASIA-PACIFIC
Recreational, Outdoor, and Fitness GPS Devices Market Presence –
Strong/Active/Niche/Trivial – Key Competitors in Asia-
Pacific for 2023 (E)
Table 26: Asia-Pacific Recent Past, Current & Future Analysis
for Recreational, Outdoor, and Fitness GPS Devices by Segment –
Recreational, Outdoor, and Fitness GPS Devices – Independent
Analysis of Annual Sales in US$ Thousand for the Years 2022
through 2030 and % CAGR
Table 27: Asia-Pacific Historic Review for Recreational,
Outdoor, and Fitness GPS Devices by Segment – Recreational,
Outdoor, and Fitness GPS Devices Markets – Independent Analysis
of Annual Sales in US$ Thousand for Years 2014 through 2021 and
% CAGR
REST OF WORLD
Table 28: Rest of World Recent Past, Current & Future Analysis
for Recreational, Outdoor, and Fitness GPS Devices by Segment –
Recreational, Outdoor, and Fitness GPS Devices – Independent
Analysis of Annual Sales in US$ Thousand for the Years 2022
through 2030 and % CAGR
Table 29: Rest of World Historic Review for Recreational,
Outdoor, and Fitness GPS Devices by Segment – Recreational,
Outdoor, and Fitness GPS Devices Markets – Independent Analysis
of Annual Sales in US$ Thousand for Years 2014 through 2021 and
% CAGR
IV. COMPETITION
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