The wrist dive computer market comprises computerized devices worn on diver’s wrists to monitor critical parameters like depth, dive time, nitrogen loading and tissue saturation during diving. These computers utilize patented algorithms to calculate no-decompression limits and provide alerts to help divers plan dive profiles and transitions between pressure groups safely. They feature large, easy-to-read screens and waterproof designs suitable for recreational scuba diving. Wrist dive computers have gained popularity as they eliminate the need to carry additional equipment and centrally record dive logs on their internal memory for future reference.
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 2024 to 2031.
Key Takeaways
Key players: 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.
Growing demand: The market is witnessing increasing demand due to the rising popularity of water sports amongst millennials and generation Z. Diving trips organized by resorts and operators have also fueled the sales of self-contained equipment like wrist dive computers.
Global expansion: Major manufacturers are investing in expanding their distribution networks in emerging economies of Asia Pacific and Latin America. Favorable government initiatives to promote water-based tourism are further assisting the global expansion of the wrist dive computer market.
Market key trends
Introduction of smart features is one of the key trends witnessed in the Wrist Dive Computer Market Share. Manufacturers are focusing on integrating advanced capabilities like Bluetooth connectivity, large touchscreen displays, onboard maps and compass, wireless sharing of dive logs. This allows users to seamlessly transfer dive data to companion smartphone apps for record keeping and social sharing. The smart variants are gaining traction among tech-savvy recreational scuba divers and snorkelers.
Porter’s Analysis
Threat of new entrants: New companies find it difficult to enter this market as it requires large investments in R&D and established companies have strong brand recognition.
Bargaining power of buyers: Buyers have moderate bargaining power as there are many established brands to choose from and the products are differentiated.
Bargaining power of suppliers: Component suppliers have moderate bargaining power as companies can switch to alternative suppliers if needed.
Threat of new substitutes: Though smartwatches can be used for some diving purposes, wrist dive computers have specific features for advanced diving and therefore threat of substitution is low.
Competitive rivalry: The market has few large players and others with niche presence. Competition is high based on product features and pricing.
Asia Pacific has the highest share of the wrist dive computer market currently due to large number of diving sites and growing participation in water sports. China, Japan, SouthEast Asian countries contribute significantly to the demand. North America is the fastest growing regional market helped by presence of brands, diversification of dive spots along various coastlines and inland water bodies promoting recreation and adventure diving.
Europe has traditionally been one of the major diving markets led by countries such as Germany, UK, Italy, Greece etc. Presence of Mediterranean coastline boosts tourism and participation in water activities. Another fast developing region is Latin America where Mexico and Caribbean nations have wide diving attractions witnessing rise in numbers of certified divers and corresponding equipment sales annually.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
