GPS Running Watches Market was valued at USD 1.2 Billion in 2022 and is projected to reach USD 2.5 Billion by 2030, growing at a CAGR of 10.1% from 2024 to 2030.
Looking ahead, from 2023 to 2033, the demand for GPS running watches is poised to expand even further. Key factors driving this growth include advancements in smartwatch technology, the rise of health-conscious individuals, and the continued shift toward smart devices in fitness. The market is expected to see a greater integration of AI and machine learning to offer personalized insights into users' performance. Additionally, innovations like solar-powered watches and improved sensors for real-time tracking will continue to push the boundaries of what these devices can offer. The increased demand for multisport GPS watches that can track more than just running, such as cycling, swimming, and hiking, will also fuel market growth. The advent of improved cloud services and data analytics will provide athletes with deeper insights into their health and fitness journeys, making GPS running watches an indispensable tool for both amateur and professional athletes alike.
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The GPS running watches market has experienced significant changes between 2018 and 2022, largely driven by technological advancements, a growing fitness-conscious culture, and the increasing adoption of wearables in everyday life. From 2018 to 2022, there was a noticeable increase in demand for GPS running watches, especially as runners and fitness enthusiasts sought more precise tracking features. Major brands like Garmin, Suunto, and Polar have all contributed to this growth by releasing new models with enhanced capabilities such as heart rate monitoring, GPS accuracy, battery longevity, and integration with fitness apps. This period saw the market gravitate towards more sophisticated devices with added features like sleep tracking, stress monitoring, and VO2 max estimation. The growing popularity of virtual races and digital fitness challenges also contributed to the surge in demand.
Garmin
Polar
Suunto
Adidas
TomTom
Timex
Life Trak
Casio
Rolex
Soleus
Apple Inc Basis
Omega
Withings Pulse
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global GPS Running Watches Market
Running
Biking
Climbing
Cardio Training
Others
Based on Types the Market is categorized into Below types that held the largest GPS Running Watches market share In 2023.
GPS Heart Rate Watches
GPS Step Counting Watches
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global GPS Running Watches Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global GPS Running Watches Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global GPS Running Watches Market, By Type
6. Global GPS Running Watches Market, By Application
7. Global GPS Running Watches Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global GPS Running Watches Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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