Wrist Dive Computer Market
Wrist Dive Computer Market (Type: Air Integrated, Non-air Integrated, and Air/Nitrox Integrated; Display: Backlit Display and Non-backlit Display; Pressure: Up to 300 Bar and Above 300 Bar; Memory: Up to 50 Hours, 50 to 100 Hours, and Above 100 Hours; Navigation: With Compass and Without Compass; Price: Below US$ 500, US$ 500 – US$ 1,000, and Above US$ 1,000; and Distribution Channel: Online and Offline) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030
Press Release :
eCommerce, Product Releases Revive Market Growth During Coronavirus Pandemic
Since travel and tourism activities have been affected due to the coronavirus crisis, stakeholders in the wrist dive computer market are witnessing a drop in product sales. In order to keep economies running, stakeholders are boosting their sales through online marketing and eCommerce in countries where COVID-19 cases have significantly reduced.
Despite the challenges encountered by companies in the wrist dive computer market during the pandemic, product innovations continue to revive market growth. SCUBAPRO is gaining recognition for launching its new Aladin A2 fully loaded dive computer meant for advanced divers and technical divers. Competitor companies are taking cues from such products to innovate in dive computers that are compact and convenient for CCR divers and free divers.
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Re-engineering Dive Computers Helps Overcome Challenge of Strengthening Chassis
The wrist dive computer market is projected to expand at a modest CAGR of ~4% during the forecast period. However, there is a need to strengthen the chassis of dive computers without significantly increasing its overall size. Hence, Deepblu - one of the fastest-growing online community for divers and ocean enthusiasts, is capitalizing on this opportunity to publicize the COSMIQ+ Gen 5 dive computer, which is found to improve physical performance and strengthen the chassis.
Manufacturers in the wrist dive computer market are increasing their research to develop dive computers with new chassis design that are equipped with additional fasteners and increased memory to accommodate several hundreds of dive logs. Customizable depth alarms are being preferred in these devices.
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Beginner-friendly, Affordable Dive Computers Preferred by Users
The wrist dive computer market is predicted to reach a valuation of US$ 400 Mn by 2030. An increasing number of startups and eCommerce are intensifying competition in the market landscape. However, still many devices lack appropriate user manual, have bulky designs, and are deficient in memory. Hence, there is a need to reinforce R&D in products to gain a competitive edge over other market players by increasing the availability of affordable and beginner-friendly wrist dive computers.
Dive computers such as the Mares Puck Pro, Suunto Zoop Novo, and Cressi Leonardo are being highly publicized in the wrist dive computer market. Eye-catchy colors, sophisticated design, and budget-friendly dive computers are being preferred by beginners and advanced divers. Manufacturers are increasing the availability of devices that are compatible with Windows and Mac PCs.
Seasoned Divers Opt for Wireless Air Integration in Dive Computers
Buying guides and online reviews are helping divers make an informed purchase decision. Manufacturers in the wrist dive computer market are increasing their production capabilities in air integrated dive computers with sleek designs and rugged build to boost product uptake. There is a growing awareness about price, diving level, navigation, and display among users. This awareness is gaining more importance, as many times the device’s backlight malfunctions and makes it challenging for divers to read the data.
Manufacturers in the wrist dive computer market are innovating in devices that deploy wireless air integration that is synced to a Bluetooth transmitter mounted to the first stage of the regulator. However, wireless transmitters usually do not come with dive computers, which implies that users need to pay extra to achieve this integration. Hence, manufacturers are targeting seasoned divers who are ready to invest in air transmitters, as these devices are potentially fragile and susceptible to damage. Key buying factors including data on oxygen blend, display type, and operating modes are influencing buyer decision in the global wrist dive computer market.
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Since the coronavirus crisis has paralyzed the travel and tourism industry, companies are focusing on the rapidly growing e-commerce sector and are therefore, increasing capabilities in new product releases. Add on features such as adjustable dive profile, optional added deep stop, and residual nitrogen reset are being preferred by divers.
The hoseless air integration is a fast growing phenomenon in the wrist dive computer market. Getting rid of the burden of a full dangling console to manage changes in diving is proving helpful for divers. The hoseless air integration is eliminating issues of bringing the diver’s hand up to the face and fumble through the water for the dive computer. Manufacturers are increasing the availability of devices that provide full time-keeping functions and are integrated with an advanced sports mode that offers features such as swim stroke counter, activity counter (pedometer), and stopwatch. Next-gen dive computers help to upload dive logs wirelessly from the dive computer to the device’s specific app, which allows import of photos and videos taken from the camera.
Wrist Dive Computer Market: Overview
- A wrist dive computer is a device used by an underwater diver to measure time and depth during a dive, and use this data to calculate and display an ascent profile, which, according to the programmed decompression algorithm, will give a low risk of decompression sickness
- Dive computers may be wrist-mounted or fitted to a console with the submersible pressure gauge. A dive computer is perceived by recreational scuba divers and service providers to be one of the most important items of safety equipment. Use by surface-supplied divers is less widespread, as the diver’s depth is monitored at the surface by a pneumofathometer, and decompression is controlled by the diving supervisor.
Rise in Tourism and Increase in Participation of Scuba Divers in Marine Conservation: Key Drivers of Wrist Dive Computer Market
- Rising investment in underwater infrastructure, which primarily involves the construction of new ports, laying underwater fiber optic cables, tunnels, bridges, etc., is identified as a key market opportunity for wrist dive computers. Marine infrastructure projects usually employ certified commercial divers to inspect underwater construction elements.
- Moreover, commercial diving is viewed as an exciting career opportunity for any adventure-seeking person, veterans, and ex-military individuals. Commercial diving companies are regulated by strict regulations regarding worker’s safety and health. For instance, OSHA (Occupational Safety and Health Administration), and ADC (Association of Diving Contractors International) regulates, and The NOAA Diving Control and Safety Board (NDCSB) have established certain regulations and standards for the commercial diving industry. Therefore, commercial diving is expected to drive the demand for wrist dive computers during the forecast period.
- Some popular volunteer programs include Shark conservation in Fiji; sea turtle conservation projects in Costa Rica, Bali, and Guatemala; Galapagos Islands conservation project; coral reef conservation in Belize, etc.
- The number of ocean conservation organizations has increased significantly in recent years, some of which include the Marine Bio Conservation Society, Project AWARE, and Coral Reef Alliance
Expansion of Commercial Diving Industry: Key Opportunity for Wrist Dive Computer Market
- Marine infrastructure projects usually employ certified commercial divers to inspect underwater construction elements. Moreover, commercial diving is viewed as an exciting career opportunity for any adventure-seeking individual, veteran, and ex-military individuals. Commercial diving companies are regulated by strict rules regarding workers’ safety and health.
Competition for Lowest Prices Acts as Restraint for Wrist Dive Computer Market
- Many new manufacturers tend to design low-priced products by compromising the quality and industry standards to cater to the rising demand for wrist dive computers across the recreational diving industry. By persistently lowering the prices, wrist dive computers cannot be serviced accurately and increases the possibility of diving accidents.
- Moreover, proper maintenance of wrist dive computers is highly recommended as the constituents of marine water, and occasional bumps and scratches can cause extensive wear and tear. Affordability of wrist dive computers is very low in emerging economies of the Middle East and the Asia Pacific.
Wrist Dive Computer Market: Competition Landscape
- The research report provides detailed profiles of wrist dive computer manufacturers to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global wrist dive computer market are
- AquaLung International.
- Cressi S.p.A.
- Garmin Ltd.
- Genesis Scuba
- Oceanic/Huish Outdoors, LLC
- Scubapro/Johnson Outdoors Inc.
- Seacsub SPA
- Shearwater Research Inc.
- Suunto/Amer Sports Brand
- Tusa/Tabata Co., Ltd.
Wrist Dive Computer Market: Key Developments
- Key manufacturers of wrist dive computers are heavily investing in R&D to launch innovative and diversified range of wrist dive computers under different brands. Moreover, major brands are focused on strategic mergers and acquisitions in order to expand business and gain access to new geographies.
- Furthermore, companies are focusing on extensive promotion to attract potential buyers. Some key developments in the global wrist dive computer market are highlighted below:
- In 2021, AquaLung International welcomed world-renowned wildlife photographer and conservationist, Paul Nicklen, as its global ocean brand ambassador. As part of the partnership, Nicklen will entirely use Aqua Lung, Apeks, and O.ME.R. Products during all dive expeditions. This collaboration is likely to help the company expand its brand globally.
- In 2021, Garmin announced the Descent® Mk2, Descent Mk2i dive computers, and Descent T1 transmitter, its next-generation suite of dive products packed with features for both underwater and on the surface to deliver tank pressure to divers
- In 2020, the AquaLung Group announced the launch of its latest scuba regulator, “Legend 3,” which will enhance the underwater breathing technology
- In 2020, Genesis Scuba collaborated with PADI, Huish Outdoors, AquaLung, Scubapro, and Sherwood Scuba to increase gear sales and revenue by offering special savings on equipment as part of its key strategy. PADI will carry out an aggressive marketing campaign to support and promote this initiative, promoting a limited-time offer on gear savings for people who enroll in a PADI eLearning® program.
- In 2020, Johnson Outdoors started with outdoor recreational activities as part of its strategy in the pandemic hit economy, leading to a massive increase in public interest for outdoor recreation
- The global wrist dive computer market report also discusses product portfolio and key business strategies followed by wrist dive computer companies. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global wrist dive computer market.
Wrist Dive Computer Market – Scope of the Report
A new study on the global wrist dive computer market has been published by Transparency Market Research (TMR). It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global wrist dive computer market across the globe. TMR’s study offers valuable information about the global wrist dive computer market to illustrate how the market would grow during the forecast period, 2020–2030.
Key indicators of market growth, which include value chain as well as supply chain analyses, and Compound Annual Growth Rate (CAGR), are elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret quantitative growth aspects of the global wrist dive computer market during the forecast period.
An extensive analysis of business strategies of leading market players is also featured in TMR’s study on the global wrist dive computer market. This can help readers understand principal factors to foresee growth in the global wrist dive computer market. In this study, readers can also find specific data on the qualitative and quantitative growth avenues for the global wrist dive computer market, which is expected to guide market players in making apt decisions in the future.
Key Questions Answered in Global Wrist Dive Computer Market Report
- What are the key factors influencing the wrist dive computer market in each region?
- What will be the CAGR of the global wrist dive computer market between 2020 and 2030?
- What is the future scope and current trends in terms of sizing and distribution channel of the global wrist dive computer market?
- What is the revenue of the global wrist dive computer market based on the respective segments?
- Which are the key strategies used by top players of the global wrist dive computer market?
- Which are the leading companies in the global wrist dive computer market?
Research Methodology – Wrist Dive Computer Market
A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global wrist dive computer market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary sources referred to by analysts during the production of the global wrist dive computer market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the wrist dive computer market as a primary source.
These primary and secondary sources provided exclusive information during interviews, which serves as a validation from wrist dive computer industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global wrist dive computer market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on the future prospects of the global wrist dive computer market more reliable and accurate.
Wrist Dive Computer Market – Segmentation
TMR’s study on the global wrist dive computer market includes information categorized into eight sections ? type, display, pressure, memory, navigation, price, distribution channel, and region. Changing industry trends and other crucial market dynamics associated with these sections of the wrist dive computer market are discussed in detail.