openPR Logo
Press release

Booming Motorsport Industry to Steer Lap Timers Market Past US$ 345 Mn by 2032

06-28-2022 02:54 PM CET | Sports

Press release from: Fact.MR

The global lap timers market size was valued at US$ 188 Mn in 2021 and is likely to reach of US$ 197 Mn in 2022. Further, with rapidly growing sports industry and increasing need for improving the driver's performance, the overall sales of lap timers are slated to grow at a steady CAGR of 5.7% between 2022 and 2032, totaling over US$ 345 Mn by the end of 2032.

Lap timers are innovative devices used to accurately measure, separate and store lap times while racing around a track. These devices have the ability to measure various parameters with better accuracy and efficiency, which can then be used to enhance the driver's performance.

With increasing motorsports activities across the world, sales of lap timers are gaining immense momentum and the trend is likely to further improve during the forecast period. These lap timers are being extensively used during car and motorcycle racing for real time data analysis.

For more insights into the Market, Get A Sample of this Report! https://www.factmr.com/connectus/sample?flag=S&rep_id=7506 

Further, rapid expansion of motorsport industry coupled with growing participation in motorsports globally is expected to propel the growth in the market. Additionally, rising sales of lap timers through e-commerce platforms is expected to create lucrative opportunities during the assessment period.

Demand is especially high for digital lap timers as they offer various benefits such as higher accuracy, easy interpretation, and user-friendly nature. The digital lap timers segment is likely to create an absolute incremental opportunity of around US$ 156 Mn through 2032.

Regionally, Europe will continue to remain at the top of the ladder in the global lap timers market, accounting for around 31.1% share in 2021. Europe lap timers market is driven by flourishing motorsports industry, presence of leading lap timer manufacturers, and availability of advanced products.

Key Takeaways:

Based on product, digital lap timers segment is anticipated to generate a valuation of US$ 162 Mn in 2022.
By end use, car sports segment is expected to grow at 5.6% CAGR during the forecast period.
Europe lap timers market is projected to expand at 6.5% CAGR, to reach US$ 116 million by the end of 2032.
Amid booming sports industry, the Germany lap timers market currently stands at US$ 16 Mn over the forecast period.
The U.S. lap timers market is likely to reach US$ 38 Mn in 2022, with sales set to increase at around 6.1% CAGR through 2032.
Growth Drivers:

Growing need for enhancing driver's experience is pushing the demand for lap timers.
Rising motorsport/auto sport activities across the globe will further boost the growth of lap timers market in future

Get Customization on this Report As Per Your Requirement! - https://www.factmr.com/connectus/sample?flag=RC&rep_id=7506 

Competitive Landscape:

Key players operating in the lap timers market are continuously introducing novel solutions to cater to the changing end user needs. They have adopted various strategies such as new product launches, partnerships, collaborations, mergers, acquisitions, etc. to expand their presence across attractive regions.

For instance,

In 2021, APEX Pro launched Gen II Apex Pro Device, a tool that helps improve lap times while on track and simplifies post-session data review with the most intuitive software interface available.
Key Companies Profiled by Fact.MR

· Aim Technologies Group

Racelogic
Speed Angle
Koso
KSR Parts Ltd.
Garmin Ltd.
Unipro ApS
Sumomoto
Starlane srl

More Valuable Insights on Lap Timers Market

In the latest study, Fact.MR offers a 360-degree view of the global lap timers market for the forecast period of 2022 to 2032. The report also highlights key factors such as recent developments and growth drivers influencing sales in the lap timers market through detailed segmentation as follows:

By Product Type:

Manual Lap Timers
Digital Lap Timers
By End Use:

Car Sports
Off-road Racing
Formula 1
Motor Racing
Kart Racing
Drag Racing
Motorcycle Sports
Moto GP
Motocross
Downhill
By Sales Channel:

Offline Sales of Lap Timers
Franchised Sports Outlets
Independent Sports Outlets
Online Sales of Lap Timers
e-Commerce Websites
Company Websites
By Region:

North America
Latin America
Europe
East Asia
South Asia & Oceania
Middle East & Africa

Interested to Procure The Data? Inquire here https://www.factmr.com/connectus/sample?flag=EB&rep_id=7506 

Key Questions Covered in the Lap Timers Market Report

What will be the demand outlook of the lap timers market in 2022?
What is the projected growth rate of the global lap timers market during 2022-2032?
Which are the key drivers bolstering growth in the lap timers market?
Which factors are hindering the growth in the lap timers market?
Which region is expected to exhibit the fastest growth in the global lap timers market during 2022-2032?

Explore Fact.MR's Comprehensive Coverage on Sports Domain:

Sports Optics Market - https://www.factmr.com/report/3443/sports-optics-market

Hybrid Bicycles Market - https://www.factmr.com/report/2066/hybrid-bicycles-market

Diving Board Market - https://www.factmr.com/report/2064/diving-board-market-market

 Electric Hydrofoil Surfboards Market - https://www.factmr.com/report/electric-hydrofoil-surfboards-market

Pickleball Machine Market - https://www.factmr.com/report/pickleball-machine-market

US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com

Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates

About Us:

Market research and consulting agency with a difference! That's why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range - from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we'll be an able research partner.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Booming Motorsport Industry to Steer Lap Timers Market Past US$ 345 Mn by 2032 here

News-ID: 2665194 • Views:

More Releases from Fact.MR

Global Data Catalog Market to Explode to $12.3 Billion by 2035, Driven by AI and Data Governance Mandates
Global Data Catalog Market to Explode to $12.3 Billion by 2035, Driven by AI and …
The global Data Catalog Market is undergoing a rapid, technology-driven transformation, shifting its role from a passive metadata repository to an intelligent, active data intelligence platform. Propelled by the exponential growth in complex data and regulatory demands, the market is projected to reach an estimated US$12.32 Billion by 2035, according to leading market analysis. This dramatic surge represents a Compound Annual Growth Rate (CAGR) of 21.9% throughout the forecast period of
Content Delivery Network (CDN) Market to Reach USD 45.2 Billion by 2035 | Akamai Technologies, Tata Communications, Microsoft Corporation, Alibaba Cloud, IBM Corporation, StackPath, Limelight Networks
Content Delivery Network (CDN) Market to Reach USD 45.2 Billion by 2035 | Akamai …
The latest report on the Content Delivery Network (CDN) Market, forecasting robust growth propelled by surging global data traffic, the proliferation of streaming services, and the escalating demand for low-latency digital experiences. Valued at USD 18.5 billion in 2025, the global market is projected to expand at a compound annual growth rate (CAGR) of 9.4%, reaching USD 45.2 billion by 2035. This trajectory reflects the indispensable role of CDNs in
Energy-based Aesthetic Devices Market Grow at a 10.8% CAGR by 2035 | Key Players: Cynosure, Lumenis Ltd., Alma Lasers Inc., Allergan Plc, Cutera, Merz Pharma GmbH & Co. KGaA
09-30-2025 | Health & Medicine
Fact.MR
Energy-based Aesthetic Devices Market Grow at a 10.8% CAGR by 2035 | Key Players …
latest report on the Energy-based Aesthetic Devices Market, forecasting robust growth propelled by surging demand for non-invasive dermatological treatments, technological innovations in laser, radiofrequency, ultrasound, and light-based systems, and heightened beauty awareness among consumers. Valued at USD 5,476.2 million in 2025, the global market is projected to expand at a compound annual growth rate (CAGR) of 10.8%, reaching USD 15,180.4 million by 2035. This trajectory reflects the market's pivotal role
Global Surgical Tourniquets Market Projected to Nearly Triple, Reaching US$1.59 Billion by 2035
09-30-2025 | Health & Medicine
Fact.MR
Global Surgical Tourniquets Market Projected to Nearly Triple, Reaching US$1.59 …
The global surgical tourniquets market is poised for significant expansion over the next decade, driven by a global surge in orthopedic surgeries, heightened demand for safer intraoperative blood control, and major technological advancements in pressure regulation systems. According to a comprehensive analysis by Fact.MR, the market, valued at US 670 millionin 2025,is forecasted to grow at a steady Compound Annual Growth Rate(CAGR) of 91.59 billion. This robust growth trajectory is

All 5 Releases


More Releases for Lap

Sterile Lap Sponge Market: An In-Depth Analysis
The global sterile lap sponge market was valued at approximately USD 1.2 billion in 2023 and is projected to reach around USD 2.5 billion by 2032, reflecting a compound annual growth rate (CAGR) of 8.5% during the forecast period from 2024 to 2032. Sterile Lap Sponge Market Overview The global sterile lap sponge market is experiencing steady growth, driven by increasing surgical procedures and rising demand for infection control in
LAP rfid label for rfid tagging system (gyrfidstore)
RFID Label and NFC Stickers is designed for various applications especially the asset tracking and NFC payment. The strength of RFID label compared with other tags is the thinner thickness, various size, flexible and cost efficient. It can be sealed inside of goods or stick on the device surface with adhesive layer. The label is also optional with anti-metal layer to mount and working on metal surface. GYRFID has the
Nürburgring, Nordschleife: new electric lap record.
Cologne, 01.09.2011 Toyota Motorsport GmbH and rational motion write history with a new best time. It was an impressive demonstration of what performance the e-mobility sector is capable of delivering today: rational motion integrated an electric high-performance powertrain into a Toyota Motorsport GmbH (TMG) race car – with peak motor power at 280kW and 260 kph top speed completely emissions free new standards were set on the challenging Nordschleife of Nürburgring on
Golden Triangle Tour in Lap of Monsoon Tourism
No doubt, it is the massive popularity of Golden Triangle tours in the recent times, which has resulted in exalting the status of Indian tourism in totality. It has indeed come up as one of the most sought after tours in the Indian context. However, the met department, in its recent report has showed that the desert state of Rajasthan has received 11.7% so far, which stands above average rainfall
Seguro Surgical Commercializes Lap Pak Abdominal Packing Platform
SEGURO SURGICAL COMMERCIALIZES LAP PAK ABDOMINAL PACKING PLATFORM Product to be launched at American College of Surgeons Annual Meeting Columbia, MD (October 4, 2010) - Seguro Surgical™, Inc., a NeoTech Incubator company, has taken its latest medical device from in-licensing to commercialization in record time. Seguro licensed its Lap Pak abdominal packing platform technology from The Johns Hopkins University in September 2009 and was registered with the Food and Drug Administration
Will the Knockhill Lap Record be Broken at Speedfair?
At the inaugural Classic SpeedFair in 2006, spectators were treated to the awesome sight and sound of a Formula One Ferrari setting the fastest ever lap time of the 1.3 miles of Knockhill. The record was set by Aberdeen racing driver Nathan Kinch with a remarkable time of 41.3 seconds. On Sunday, 8th June, several drivers will line up to attempt to break Nathan’s time in an assortment of single seater racing