A new market study, titled “Discover Global GPS for Bike Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
A new report added to the online inventory of Wise Guys Reports (WGR) discloses that the world GPS for bike market is set to grow at a compound annual growth rate (CAGR) of 6.7% between 2018 and 2022.
Basically GPS for bike is a navigation device that can be fixed on the handlebars of a bicycle. It receives satellite signals through GPS and helps the riders to monitor their rides and track cycling performance as well. Also it can keep a track of the users’ progress on the road and helps to create new routes and check the progress in real time.
This device is equipped with auto-adjustable screen brightness and acts as a safety device as well. The users can send alerts in cases of unfortunate incidents to their family members. Due to so many benefits attached, the innovative GPS for bike has driven the demand of these smart cycling products greatly.
The report has been prepared based on the detailed market analysis. It covers the market landscape and its growth prospects over the next few years. These GPS for bike devices help in tracking the cycling performance. However, some of the market challenges associated with it include reduced bicycle use due to rising pollution levels.
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Key Players of Global GPS for Bike Market =>
The segmental analysis of the market has been conducted based on industry trends, type, application, market size and region. Some of the leading players included in the report include Garmin, Magellan, Sigma, CatEye and O-Synce
By product, the market has been segmented into Mapping and Non-mapping.
Based on application, the market has been segmented into commercial and personal use. The need for bikes to stay fit and their cost-effectiveness with easy affordability is contributing towards the growth of GPS for bike market.
World GPS for Bike Market: Regional Analysis
On the basis of region, the market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Rest of the World (RoW). In North America, countries like U.S. and Canada are covered, and UK and Germany are covered under Europe. In APAC, countries such as Japan, China and India are covered. Faster adoption of smart cycling products and booming technology are some of the factors influencing the market in North America. Meanwhile, APAC also remain an attractive market for world GPS for bike market. It is predictable that APAC region will make a significant contribution to the world GPS for bike market. The rapid growth in smart devices and growing health-consciousness among the consumers in countries such as Japan, China, and India is driving the market growth in the region.
The report will help in having a clear and in-depth understanding of the existing market opportunities and threats faced by the vendors in the global GPS for bike market.
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