World Recreational, Outdoor, and Fitness GPS Solutions Market to Reach US$1.3 Billion by 2018, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Recreational, Outdoor, and Fitness GPS Solutions markets. The pace of growth of GPS solutions and devices has picked up in recent years, in tune with decreasing product price, continuous innovation in form and functionality of devices, and increasing consumer awareness. The global market for Recreational, Outdoor, and Fitness GPS Solutions market is forecast to reach US$1.34 billion by 2018, propelled by emergence of innovative accessories such as GPS-enabled apparel and wristwatches, as well as smartphone GPS applications.

Recreational, Outdoor, and Fitness GPS Solutions: A Global Strategic Business Report

Follow us on LinkedIn – Global Positioning System (GPS) is a part of space-based Global Navigation Satellite System (GNSS) set up by the US Department of Defense. The European Union, Russia, China and India are setting up similar GNSS infrastructure. Handheld GPS technology was initially introduced in the 1990s for military applications such as coordinating troop movements, weapon guidance systems, and reconnaissance and search and rescue operations. In recent times, GPS solutions makers forayed into lucrative consumer applications market, with GPS navigation tools fast becoming an indispensable part of air, ground and marine vehicles. For the greater period, the recreation, outdoor, and fitness market has remained a niche segment for GPS devices with only a handful of companies operating in the segment. Major players from the commercial GPS industry as well as those outside the industry such as watch and apparel makers are expected to foray into the segment in the near term, boosting the overall market in the near future. The unprecedented success of GPS-enabled fitness wristwatches in the recent term attracted the attention of watch manufacturers as well as sports apparel companies.

GPS Solutions are also increasingly finding application in a diverse range of recreational, outdoor and fitness activities including backpacking, hiking and trekking, camping, cycling, flying, climbing, geocaching, hunting, trail running, and water sports. Recently, sophisticated GPS mapping and tracking devices suitable for marine recreation activities such as yachting and fishing were introduced. Declining prices, improving functionality and durability, and ease of use of GPS devices are major growth drivers for consumer adoption. Sat-nav technology is also being integrated into common accessories such as potable music players, wristwatches, trainers, and mobile phones among others. In addition, GPS-enabled mobile and cellular phones are bridging the gap between communication and location mapping, providing users a richer experience with high-resolution cameras and, higher memory capacities.

The overall dedicated GPS devices market witnessed a decline during the global financial crisis due to the reduced consumer spending. At the same time, the outdoor, fitness and recreation GPS segment displayed a robust increase in sales value and volume, due to innovations in form and functionality of the products. Dedicated GPS device makers around the world are being pushed to the wall due to the widespread use of GPS-enabled smartphones and supporting applications (apps). In particular, tablets, smartphones and other portable devices integrated with navigation and LBS applications that serve the purpose of in-car recreation as well as navigation, are emerging as a major threat to automobile and mobile GPS equipment manufacturers. The availability of cheap online apps is also undermining the pricing power of dedicated device manufacturers. Simultaneously, the popularity of apps is expected to attract more novice users to the GPS market, thereby widening the consumer base.

GPS Wristwatches, integrating form and functionality are becoming a mainstay for the fitness GPS industry. The entry of new players is also anticipated to bring down prices of GPS wristwatches in the near term, thereby attracting a wider consumer base to the segment. Although GPS-integrated bicycle computers have been available in the market for several years, the market remains relatively nascent. The market for recreational GPS-enabled golf equipment is expected to remain strong, driven by the relatively untapped market for golf caddy’s and cycle computers. The demand for fitness apps is expected to soar, spurred by growing consumer awareness and adoption, as well as cross-selling. In the near term, mobile and smartphone apps are forecast to emerge as a major pillar of growth for the outdoor GPS market. The expansion of the fitness and recreational segment is expected to outweigh the decline in the portable navigation device segment, particularly as the segment is saturated in advanced markets.

The US with traditional expertise in GPS enabled solutions represents the leading market, amassing major share of global market, as stated by the new market research report on Recreational, Outdoor and Fitness GPS Solutions. While North America is anticipated to remain robust due to Government efforts to propagate GPS deployment in the commercial space, the Asia-Pacific region is forecast to register the fastest growth over the long-term, registering a robust CAGR of about 18% through 2018. The Asia-Pacific LBS sector is set to expand exponentially in the near term, due to intense penetration of the service in the rapidly growing feature phones and smartphones market in the region. Robust growth in mobile and broadband services infrastructure, and consumer affinity for customized location-based information services and personalized messaging, are the major factors driving growth in the market. In addition to established markets like Japan, Australia, New Zealand, the Asian market would keenly benefit from unprecedented growth in rapidly evolving markets of Taiwan, China, India and Korea among others.

Key market participants profiled in the report include, Bushnell Corporation, Bryton Incorporated, DeLorme, FitnessKeeper, Inc., Garmin International Inc., HOLUX Technology Inc., Groundspeak, Inc., Lowrance Electronics, MiTAC International Corporation, TomTom NV, Nike, Inc., Trimble Navigation Ltd., among others.

The research report titled “Recreational, Outdoor, and Fitness GPS Solutions: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., offers a broad coverage of major trends, industry overview, competitive scenario, product launches and other corporate events that are shaping the niche consumer GPS segment. The research report also provides brief profiles of the key market participants, and analytics pertaining to sales revenues, broken down by geographic regions - US, Europe, Asia Pacific and Rest of World. The historical perspective covering the period 2004-2009 traces the evolution of the industry in the past.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Recreational_Outdoor_and_Fitness_GPS_Solutions_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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