Wrist Dive Computer Market reach $330.80 million by 2031, growing at a CAGR of 5.2%, says Coherent Market Insights
Burlingame, July 24, 2024 (GLOBE NEWSWIRE) -- The global Wrist Dive Computer Market is projected to grow from USD 231.41 million in 2024 to USD 330.80 million by 2031, with a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031, as per a recent report by Coherent Market Insights. Technological Innovations Are Pushing More Advanced Features in Dive Computers Wrist dive computers have seen significant technological improvements in recent years which have greatly expanded their functionality and usefulness for divers. Modern dive computers can now track multiple gas mixes, continuous depth and time monitoring, nitrogen and oxygen toxicity levels, water temperature readings, dive logging and planning features.
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Market Dynamics:
The growing popularity of water sports such as scuba diving, snorkeling, and other recreational diving activities have been a key driver boosting demand for wrist dive computers. Wrist dive computers allow divers to monitor critical real-time statistics such as depth, water temperature, time underwater and ascent rate to stay safe during underwater adventures. Advancing display and sensor technology have enabled manufacturers to integrate advanced features in compact wrist dive computer units, making them a preferred option over traditional dive computers. However, availability of cheaper substitutes such as mobile dive apps could limit market expansion to some extent over the forecast period.
Wrist Dive Computer Market Report Coverage
| Report Coverage | Details |
| Market Revenue in 2024 | $231.41 million |
| Estimated Value by 2031 | $330.80 million |
| Growth Rate | Poised to grow at a CAGR of 5.2% |
| Historical Data | 2019–2023 |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Million/Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Display Type , By Application |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
| Growth Drivers | • Piracy activity at sea • Terrorist activity targeting commercial vessels |
| Restraints & Challenges | • High cost of dive computers • Risk of device malfunction under water |
Market Trends:
Manufacturers are focusing on developing advanced wrist dive computers with additional safety features to gain consumer trust. For instance, some units feature integrated location transmitters to help rescuers locate diver in an emergency. Compatibility with dive tags and rebreathers is another trend witnessed in high-end models. Meanwhile, simple yet functional entry-level models cater to casual divers and work well for most recreational dives.
Leading players are integrating smart connectivity features to equip divers with smartphone-like convenience underwater. Some products allow users to stream dive logs, charts, permits and more from their smartphones. Connected models may support functionalities like over-the-air updates. Such technologically advanced offerings are expected to see higher demand over the forecast period.
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Market Opportunities:
The popularity of recreational scuba diving and snorkeling has been on the rise over the past few years. With more people taking up underwater sports as a hobby or means of adventure tourism, the market for wrist dive computers catering to recreational divers is expected to witness strong growth. Wrist dive computers allow recreational divers to monitor critical parameters like depth, dive time and nitrogen levels in the body to ensure safe diving. compact and easy to use wrist dive computers are fast replacing traditional bulky dive computers, further supporting the growth of this segment.
Technical diving involves advanced procedures and greater risks compared to recreational diving. Therefore, technical divers rely heavily on advanced dive computers for decompression planning, gas switching and other functionalities. Technical dive computers offer additional features like gas integration, Bluetooth connectivity and oxygen toxicity calculations. They find usage in commercial diving as well. The increasing popularity of technical diving as an extreme sport is expected to drive demand for specialized technical dive computers.
Key Market Takeaways:
The global wrist dive computer market is anticipated to witness a CAGR of 5.2% during the forecast period 2024-2031, owing to the rising participation in underwater activities.
On the basis of product type, the air integrated segment is expected to hold a dominant position, accounting for over 30% of the market share owing to their versatility and ease of use.
By display, the backlit display segment is expected hold the major share of around 60% due to better visibility underwater.
On the basis of region, North America is expected to hold a dominant position over the forecast period owing to high discretionary incomes and the large number of diving sites.
Key players operating in the wrist dive computer market include Suunto Oy, Aqua Lung International, Shearwater Research Inc. who together hold over 50% of the market share. The presence of diverse international and local manufacturers is expected to further intensify competition over the coming years.
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Recent Developments:
In 2023, Scubapro unveiled the Galileo 3 wristwatch dive computer, combining advanced dive functionalities with full-timekeeping features for everyday use. This innovative device offers four accessible options in Scuba mode: PMG, Trimix, CCR, and Sidemount, providing divers with a versatile and comprehensive tool for their underwater adventures.
In 2022, Garmin introduced the Descent G1 Solar, a watch-styled dive computer featuring cutting-edge technology, including optional solar charging and health and wellness functionalities. Designed for divers seeking a multisport smartwatch, Garmin aims to provide a unique and comprehensive experience for underwater enthusiasts.
Market Segmentation
By Display Type:
- AMOLED Display
- MIP Display
By Application:
- Military
- Civilian
By Regional:
North America:
- U.S.
- Canada
Latin America:
- Brazil
- Argentina
- Mexico
- Rest of Latin America
Europe:
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
Asia Pacific:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
Middle East:
- GCC Countries
- Israel
- Rest of Middle East
Africa:
- South Africa
- North Africa
- Central Africa
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
Mr. Shah Senior Client Partner – Business Development Coherent Market Insights Phone: US: +1-206-701-6702 UK: +44-020-8133-4027 Japan: +81-050-5539-1737 India: +91-848-285-0837 Email: sales@coherentmarketinsights.com Website: https://www.coherentmarketinsights.com
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