Wrist Dive Computer Market Size Hit USD 343.3 million by 2031, Recording a 4.1% CAGR Says, Transparency Market Research
With the growing trend toward stylistic and compact wrist dive computers, the market will expand. Increasing use of technology and the Internet to drive demand for wrist dive computers.
Wilmington, Delaware, United States, Oct. 03, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – Wrist dive computers accounted for US$ 238.9 million in 2022. The wrist dive computer market is estimated to reach US$ 343.3 million by 2031. Wrist dive computer market revenue is expected to increase at a CAGR of 4.1% from 2023 to 2031.
A dive computer is a vital tool for divers. Nitrogen absorption, remaining gases, and ascent rates are all monitored with these devices making the diving system more efficient.
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Divers are increasingly demanding new technologies in areas such as reliability, durability, and user interfaces. Divers with technical certifications, including underwater photographers, represent a lucrative market. Diverse markets and regions in which water sports and scuba diving are becoming increasingly popular can also provide growth opportunities.
The impact of divers’ activities on the environment is becoming increasingly evident among divers. Eco-friendly diving practices are being tracked and encouraged by some dive computer manufacturers. Divers are now able to share their diving experiences with other divers by using mobile apps that connect wrist dive computers with dive apps.
Key Findings of the Market Report
- Around 44.8% of 2022’s revenue came from the air-integrated segment.
- Increasing numbers of divers and exploration of vast areas will increase the demand for compass-equipped devices.
- Recordings with a memory in excess of 100 hours are expected to drive the demand for high-end wrist dive computers.
- As online sales and discounts grow, the market for wrist dive computers is also expected to grow.
- As prices drop below US$ 500, demand for wrist dive computers will increase.
Global Wrist Dive Computer Market: Growth Drivers
- Increasing scuba diving popularity as well as an upsurge in income are driving market growth. Travel and tourism industries are growing and expanding, especially in developing countries is expected to drive demand for wrist dive computers in the market.
- Wrist dive computers can track various diving functions, such as depth measurements, dive times, and decompression limits. The popularity of adventure sports among young people is a major factor influencing steady growth. Major players are increasingly investing in research and development activities in an effort to gain a competitive advantage in the market.
- As technology advances and risk management is increasingly prioritized in underwater activities, demand is expected to grow. With the integration of wireless connectivity, GPS positioning, and advanced sensors, there will be a significant amount of growth in the market over time.
- A growing demand for improved functionality and convenience will further drive the market’s growth in the years to come. With the rise of the internet, e-commerce platforms, and the proliferation of affordable wrist dive computers, market growth is expected to be lucrative.
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Wrist Dive Computer Market: Regional Landscape
- The rapid development of advanced technology has led to North America dominating the wrist dive computer market. A growing number of recreational and research activities in these regions will increase the market for these devices.
- A wide variety of popular brands is available, including Garmin, Suunto, and Shearwater. Different diving needs and budgets can be met with different options offered by dive shops and online retailers.
- Due to rapid globalization, and increased travel and tourism in this region, Asia-Pacific is expected to experience the fastest growth. Rising disposable incomes and rising leisure activities have increased demand for these devices in the market. Scuba diving’s popularity and westernization are also factors determining market growth in this region.
Global Wrist Dive Computer Market: Key Players
Developing innovative products is the primary objective of most manufacturers’ comprehensive research and development activities. In the industry, manufacturers are expanding their product portfolios and merging and acquiring. Market players are also taking advantage of lucrative revenue opportunities available with wrist dive computers.
Cressi S.p.A., Aqua Lung International, Garmin Ltd., MARES, Oceanic / Huish Outdoors, LLC, Scubapro / Johnson Outdoors Inc., Genesis Scuba, Seacsub SPA, Suunto / Amer Sports Brand, and Tusa / Tabata Co., Ltd., Shearwater Research Inc., are the prominent wrist dive computer manufacturers.
- On August 29, 2023, Scubapro unveiled its new Galileo 3 Dive Watch. A full-timekeeping capability makes it suitable for everyday topside use as well as diving. Aside from PMG, Trimix, CCR, and Sidemount, there are four options available in Scuba mode.
- In September 2023, Apple unveiled the Apple Watch Ultra 2. This new smartwatch brings new features to Apple’s most powerful and durable smartwatch, and it reaches a significant milestone in terms of environmental sustainability. Users who use the Oceanic+ app will receive target depth alerts and data like depth, elapsed time, and elapsed time during freediving.
Global Wrist Dive Computer Market: Segmentation
- Air Integrated
- Non-air Integrated
- With Compass
- Without Compass
- Backlit Display
- Non-backlit Display
- Below US$ 500
- US$ 501 – US$ 1,000
- Above US$ 1,000
- Up to 300 bar
- Above 300 bar
- Up to 50 Hours
- 51 to 100 Hours
- Above 100 Hours
By Distribution Channel
- E-commerce Websites
- Company-owned Website
- Specialty Stores
- Departmental Stores
- Independent Retailers
- North America
- Asia Pacific
- Middle East & Africa
- South America
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