Wilmington, Delaware, United States, Oct. 19, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Recent trends indicate that technological advancements in wearable have enriched the value chain of the wrist dive computer market. The commercialization of multifunctional diving smartwatches mainly hinged on adoption by scuba divers is augmenting the wrist dive computer market size. The market is forecast to expand at CAGR of 4.1% from 2022 to 2031.
The introduction of best wrist dive computers with air integration features has opened up new frontiers, observed the TMR analysts. Of note, wrist dive computer air integrated features include long battery life, user-changeable AA battery, and interactive user interface as key value additions in the products in the wrist dive computer market. Players are broadening their revenue streams and expanding wrist dive computer market shares by developing products that meet the needs of customers in research, recreation, and defence applications.
Need for affordable smart wearable diving technology for recreational divers will pave the way to new revenue streams, as those meant for professional divers can be costly. Apart from that, manufacturers are focused on improvising on the products in order to allay consumer concerns caused due to delayed software updates and technical glitches, observed the study on the global wrist dive computer market.
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Key Findings of Wrist Dive Computer Market Study
- Technologies Advancements in Scuba Diving Equipment Unlocks Promising Revenue Streams: Rise in demand for advanced equipment for professional scuba diving sports has created a massive avenue for firms in the wrist dive computer market. Furthermore, regions who are keenly promoting coastal tourism particularly in Southeast Asian countries have paved the way for sizable revenue potential. Manufacturers are tapping into the demand by spurring commercialization of cutting-edge wearable that promises unique diving experience.
- Demand for Advanced Features Spur Popularity of Air-Integrated Wrist Dive Computers: The study found that the air-integrated segment held around 44.8% market share in 2021. Air integrated dive computers with backlit display features evoked widespread attention of among scuba divers. Thus, air integrated dive computers are likely to endow competitive edge to the respective manufacturers.
Wrist Dive Computer Market: Key Drivers
- The rise in scuba diving activities is propelling strides in the wrist dive computer market. Number of scuba divers has grown considerably for recreational diving.
- A constantly expanding coastal and marine tourism in various regions globally is expanding the avenues for players in the wrist dive computer market.
- Rise in online availability of the products and advancements in wearable are driving the wrist dive computer market.
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Wrist Dive Computer Market: Regional Growth Dynamics
Asia Pacific is a highly lucrative region and is likely to be the most attractive market globally during the forecast period. Rise in scuba diving activities over the past few years has created vast lucrative avenues. Governments in several economies have ramped up their efforts to promote marine tourism, which has led to tremendous growth opportunities for scuba diving. This is in turn is fueling the revenue growth of the Asia Pacific wrist dive computer market. Focus on commercializing state-of-the-art scuba diving equipment in the region has also kept the regional market buoyant with opportunities.
Wrist Dive Computer Market: Competition Landscape
Several medium and small players dot the competition landscape of wrist dive computer market. They are keen on expanding their product portfolio. Furthermore, prominent companies are investing in brand positioning and promotion strategies, notably by going for brand endorsement by lifestyle ambassadors.
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Some of the key market players are Tusa / Tabata Co., Ltd., Suunto / Amer Sports Brand, Shearwater Research Inc., Seacsub SPA, MARES, Genesis Scuba, Garmin Ltd., and Cressi S.p.A.
Wrist Dive Computer Market Segmentation
- Type
- Air Integrated
- Non Air Integrated
- Navigation
- With Compass
- Without Compass
- Display
- Backlit Display
- Non Backlit Display
- Price
- Below US$ 500
- US$ 501 – US$ 1000
- Above US$ 1000
- Pressure
- Up to 300 bar
- Above 300 bar
- Memory
- Up to 50 Hours
- 51 to 100 Hours
- Above 100 Hours
- Distribution Channel
- Online
- E-commerce Websites
- Company-owned Website
- Offline
- Specialty Stores
- Departmental Stores
- Independent Retailers
- Online
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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