Report Ocean is a comprehensive analysis of the “GPS Positioning Watches Market” that includes both qualitative and quantitative data. The report covers various regions and provides insights into major industry changes, challenges faced by businesses and competitors, and potential new opportunities in the market. It also includes a SWOT analysis, Porter’s Five Forces model, and a value chain review to help readers understand the industry’s position in the market and the stakeholder positions.
GPS positioning watches, equipped with Global Positioning System (GPS) technology, offer real-time location tracking, catering to navigation, fitness tracking, outdoor activities, and personal safety. The market’s expansion is attributed to factors such as the rising popularity of smartwatches and increasing awareness of fitness and health.
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According to Statista in 2023, The smartwatch market is expected to experience a consistent increase in global user numbers from 2023 to 2027, reaching a total of 19.3 million. By 2027, the estimated number of users is projected to reach 229.51 million. Additionally, it is anticipated that end-user spending on wearable technology may amount to approximately USD 81.5 billion. Smartwatches provide near-real-time continuous monitoring of physical activity and physiological parameters, which has the potential to transform health care by promoting and evaluating health in daily life. According to Statista in 2023, The digital health market’s fitness/activity tracking wristwear category was predicted to have a total of 84.7 million users worldwide in between 2023 and 2027.
The expected number of users may reach USD 332.84 million after the fourth straight year of growth, reaching a new peak in 2027. In addition, an increase in demand of connected devices and technological advancements in GPS Positioning Watches would create lucrative growth opportunities. However, high cost of GPS positioning watches and complexity in installation stifles market growth throughout the forecast period of 2023-2030.
North America dominates the market, driven by increasing fitness awareness, rising adoption of smart devices, and growing consumer demand for advanced tracking features. The Asia Pacific emerges as the fastest-growing region, fueled by a rising awareness of fitness and health-related activities.
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Major Market Players:
Key market players contributing to the growth of the GPS Positioning Watches Market include Polar Electro Oy, Suunto Oy, Apple Inc., TomTom International BV, Adidas AG, Timex.Com, Inc., Life Actions Track Llp, Casio Computer Co., Ltd., Soleus Running, and Omega SA.
- March 2023: Casio Computer Co., Ltd. launched a new addition to their G-SHOCK family of shock-resistant watches, specifically within the sports-focused G-SQUAD line. The latest model, known as the GBD-H2000, offers a lighter weight and enhanced versatility to cater to various activities, ensuring a more comfortable fit for the wearer.
Objective of the Study:
The study aims to define market sizes of different segments & countries in recent years and forecast values to the coming years. The report incorporates both qualitative and quantitative aspects, analyzing driving factors, challenges, potential opportunities, competitive landscape, and product offerings of key players.
Detailed Segments and Sub-segments:
By Product Type:
- GPS Heart Rate Watches
- GPS Step Counting Watches
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- Marine Data Logging
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Historical Data: 2020 – 2021
- Base Year for Estimation: 2022
- Forecast Period: 2023-2030
- Report Coverage: Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends
- Segments Covered: Product Type, Application, End-User, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
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Key Questions Answered by the Report:
- What are the driving factors for market growth?
- What challenges and limitations does the market face?
- What emerging opportunities exist in the market?
- What potential threats and risks could impact the market?
- What is the current market size and growth rate?
- What are the market segments and their sizes?
- Which regions are projected to experience the highest growth and market share?
- What variables affect different geographical areas?
- Who are the major players in the market and their rankings?
- What recent partnerships, launches, expansions, or acquisitions have occurred among the companies profiled?
- What are the comprehensive profiles of the top market players, including business overview, insights, product benchmarking, and SWOT analysis?
- What is the present market outlook, considering recent changes and growth possibilities?
- What are the drivers, obstacles, and restrictions in both developing and emerging regions?
- How does the market analysis utilize Porter’s five forces analysis?
- How does the Value Chain provide insights into market dynamics?
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