The global wrist dive computer market is estimated to be valued at US$ 231.41 Mn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period from 2024 to 2031.
A dive computer, also known as a dive timer or decompression meter, is an electronic device used mainly by scuba divers to calculate decompression status during a dive and to plan dive profiles accordingly. Wrist dive computers are compact and lightweight dive computers worn on the wrist like a watch for hands-free monitoring of critical diving information including depth, timing, nitrogen and oxygen loading and much more. These computers eliminate the need for dive tables and allow divers to focus more on enjoying the dive with real-time information at their fingertips. The increasing popularity of recreational scuba diving and underwater exploration activities are anticipated to drive the demand for wrist dive computers.
Key Takeaways
Key players operating in the wrist dive computer market are Cressi SpA, Mares, Suunto, Oceanic S.A., Shearwater Research Inc., Sherwood Scuba LLC, Tabata USA, Inc., CREST DIVING, ATMOS, Poseidon Diving System AB, Aqua Lung International, Atomic Aquatics, Johnson Outdoors Inc., Genesis Scuba, and Garmin Ltd. Cressi SpA and Suunto collectively hold over 35% of the market share.
The global wrist dive computer market provides numerous opportunities for divers and manufactures including technological advancements to deliver accurate real-time data, integrated features for wireless data sharing and GPS, adoption of innovative materials for improved durability, and expanded product portfolio.
Key players are focused on global expansion through partnerships, collaborations and establishing local manufacturing and distribution facilities across major diving destinations to cater to the growing international demand. North America and Europe currently account for over 60% of the global demand for wrist dive computers.
Market Drivers
One of the key drivers for the Wrist Dive Computer Market Share is the rising popularity of recreational scuba diving. There has been significant growth in the number of people taking up scuba diving as a hobby or sport globally. Wrist dive computers are essential safety equipment for recreational divers.
Market Restraints
One of the key restraints for the market is the high cost of advanced dive computers with premium features. Entry-level wrist dive computers start from around $200-300 whereas high-end models with integrated features can cost $500-1000. This price barrier limits the adoption rate of computers among casual recreational divers.
Segment Analysis
The wrist dive computer market can be segmented based on product type, end use, and region. Based on product type, the wrist mounted segment dominates the market as it offers better interaction capabilities and are more compact than handheld dive computers. Wrist mounted dive computers account for nearly 70% of the total dive computer market share owing to growing popularity among recreational divers and easy navigation features. Based on end use, recreational diving is the largest segment in the market. Recreational diving accounts for over 75% of the total market as wrist dive computers offer advanced dive planning features and easy to use interfaces that recreational divers prefer.
Global Analysis
On the basis of region, North America dominates the wrist dive computer market with over 35% share. Factors such as presence of key players, availability of training institutes and busy lifestyle driving demand for compact diving gear are fueling market growth in the region. Europe is the second largest market owing to large number of recreational divers. The Asia Pacific region is expected to be the fastest growing market during the forecast period due to rising number of divers and increasing investments by manufacturers. Countries like Australia, Japan and China are emerging markets for wrist dive computers in the region.
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About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
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