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Wrist Dive Computer Market is advancing in trends

The Global Wrist Dive Computer Market is estimated to be valued at US$ 330.80 Mn in 2024

An electronic device worn on the wrist that tracks many factors such as depth, dive time, nitrogen saturation, and other vital measurements for safe diving is called a wrist dive computer. It gives information on ascent rates, alarms for infractions, and assists divers in scheduling a safe decompression stop.

The Global Wrist Dive Computer Market is estimated to be valued at US$ 330.80 Mn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Wrist Dive Computer 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. Key players in the market are actively investing in R&D to launch innovative and intuitive wrist dive computers to gain a competitive edge.

The growing popularity of recreational scuba diving and snorkeling is fueling the demand for wrist dive computers. The convenience of monitoring critical dive parameters on the wrist in an easy-to-read format is encouraging more recreational divers to use dive computers for safety. According to industry estimates, the number of recreational divers is expected to increase by over 15% in the forecast period.

The market is witnessing significant expansion in North America and Europe owing to the large base of recreational divers. However, Asia Pacific is emerging as a highly lucrative market for wrist dive computers with developing countries like Thailand, Malaysia, and Indonesia witnessing a surge in recreational diving. Manufacturers are focusing on strengthening their distribution channels in these high growth regions.

Market key trends

One of the key trends gaining momentum in the Wrist Dive Computer Market Growth is the integration of Bluetooth and WiFi connectivity. Top players are focusing on developing smart dive computers that can sync dive logs and profiles with smartphones and tablets. This allows foreasy sharing of dive logs with instructors and friends. The connectivity features also facilitate over-the-air firmware updates for new features. This is expected to especially appeal to tech-savvy recreational divers and boost the demand for high-end networked dive computers.

Porter’s Analysis
Threat of new entrants: Low startup costs allow new players to enter this market easily. However, established brands have strong brand loyalty and economies of scale which create barriers.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes. However, specialized needs of divers increase switching costs.

Bargaining power of suppliers: Few raw material suppliers exist, giving them strong bargaining power. Suppliers can dictate terms and demand higher margins.

Threat of new substitutes: Threat is moderate as consumers can opt for traditional equipment like dive computers without advanced connectivity and displays.

Competitive rivalry: Intense as key players compete on technology, features, and pricing. Brand loyalty is also high among divers for industry leaders.

Geographical Regions
North America accounts for the largest share owing to high number of recreational divers. North American market is expected to grow at a CAGR of 4% during the forecast period backed by introduction of advanced models.

Asia Pacific is fastest growing region attaining a CAGR of over 7% by 2031. Growth will be driven by increase in diving tourism in Southeast Asia along with rising participation in water sports. Countries like Indonesia, Philippines and Thailand are witnessing rapid expansion.

 

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