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Cycling GPS Units Market share, Market trends, and forecasts from 2024 to 2031.

03-02-2024 04:51 PM CET | Energy & Environment

Press release from: Report Prime

Cycling GPS Units Market share, Market trends, and forecasts

Market Overview and Report Coverage

A Cycling GPS unit is a navigation device specifically designed for cyclists to track their routes, speed, distance, and other performance metrics while riding. These devices are increasingly popular among cyclists of all levels for their advanced features and capabilities.
The current outlook for the Cycling GPS Units Market is positive and promising. With the increasing popularity of cycling as a recreational and fitness activity, the demand for these devices is on the rise. The market is expected to grow at a significant rate, with a projected CAGR of 11.80% during the forecasted period. This growth is driven by technological advancements in GPS technology, as well as the increasing use of these devices for training, navigation, and performance tracking.
In the future, the Cycling GPS Units Market is expected to continue to expand as more cyclists recognize the benefits of using these devices. Manufacturers are likely to focus on developing more advanced features and functionalities to meet the evolving needs of cyclists. As a result, the market is expected to witness further growth and innovation in the coming years.

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Market Segmentation
The Cycling GPS Units Market Analysis by types is segmented into:
• Handheld
• Integrated Type

Cycling GPS units can be divided into two main market types: handheld and integrated. Handheld GPS units are portable devices that can be easily carried while cycling and provide navigation and tracking features. Integrated GPS units are built directly into the handlebars or stem of the bicycle, offering a seamless and streamlined design. Both types of GPS units are popular among cyclists for tracking their performance, navigating new routes, and enhancing their overall riding experience.

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The Cycling GPS Units Market Industry Research by Application is segmented into:
• Commercial Use
• Private Use

Cycling GPS units are widely used for both commercial and private purposes. In commercial use, these devices are utilized by delivery companies, bike rental services, and tour operators to track and manage fleets of bikes. In private use, cycling GPS units are popular among recreational cyclists and fitness enthusiasts who use them to track their routes, monitor performance metrics, and navigate unfamiliar terrain. With advancements in technology, these devices continue to gain popularity for their convenience and functionality in both markets.

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In terms of Region, the Cycling GPS Units Market Players available by Region are:

North America:
• United States
• Canada

Europe:
• Germany
• France
• U.K.
• Italy
• Russia

Asia-Pacific:
• China
• Japan
• South Korea
• India
• Australia
• China Taiwan
• Indonesia
• Thailand
• Malaysia

Latin America:
• Mexico
• Brazil
• Argentina Korea
• Colombia

Middle East & Africa:
• Turkey
• Saudi
• Arabia
• UAE
• Korea


What are the Emerging Trends in the Global Cycling GPS Units market?
The global cycling GPS units market is experiencing several emerging trends. Firstly, there is a growing demand for GPS units with advanced features such as real-time tracking, route planning, and integration with other devices. Secondly, there is a shift towards smaller and more lightweight GPS units to enhance portability and convenience for cyclists. Additionally, there is a rising interest in GPS units that offer performance metrics and training insights to help cyclists improve their workout efficiency. Lastly, the market is seeing increased adoption of GPS units with long battery life and durability to withstand rugged outdoor conditions.

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Major Market Players
Garmin is one of the leading players in the competitive cycling GPS units market, offering a range of high-quality products including bike computers and GPS watches. The company was founded in 1989 and has since established itself as a pioneer in GPS technology. Garmin's products are known for their accuracy, durability, and user-friendly design, making them popular among cyclists of all levels.
Lezyne is another key player in the market, known for its innovative and stylish cycling accessories including GPS bike computers. The company was founded in 2007 and has quickly gained recognition for its high-quality products and commitment to excellence. Lezyne's GPS units are known for their advanced features and sleek design, catering to the needs of serious cyclists.
Polar is a well-established brand in the sports technology industry, offering a wide range of products including cycling GPS units. The company has a long history dating back to 1977 and has built a strong reputation for its accurate and reliable products. Polar's cycling GPS units are favored by athletes and fitness enthusiasts for their advanced features and precise tracking capabilities.
In terms of market size and growth, the competitive cycling GPS units market is expected to witness significant expansion in the coming years. As more cyclists turn to technology to enhance their training and performance, the demand for high-quality GPS units is expected to rise. The market is highly competitive, with key players such as Garmin, Lezyne, and Polar vying for market share.
In terms of sales revenue, Garmin has reported annual revenues exceeding $3 billion, making it one of the leading players in the market. Lezyne and Polar are also experiencing strong growth, with annual revenues in the hundreds of millions. As the market continues to expand, these companies are expected to maintain their positions as key players in the competitive cycling GPS units market.

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Contact Us:
Name: Mahesh Patel
Phone: +1 507 500 7209
Email: sales@reportprime.com

At ReportPrime.com, our vision is to revolutionize the market research industry by delivering unprecedented value to our clients through our audacious goal of providing unparalleled research quality, ethical practices, and affordability. We strive to empower businesses of all sizes with actionable, accurate, and unbiased insights that inform strategic decision-making, drive growth and innovation. We are committed to fostering a culture of excellence, integrity, and transparency, and to fostering lasting partnerships with our clients through affordability and dedicated client servicing.

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