The dive computer market is projected to reach a value of US$ 634.7 million in 2022 and US$ 1,109.3 million by 2032, with a growth rate of 5.7% CAGR from 2022 to 2032. The dive computer market accounts for approximately 21% to 26% of the global dive equipment market.
In addition, a lot of diving computer companies are focusing on portfolio expansion and innovation to increase market share.
Additionally, they provide a variety of diving computer devices according to their features, which include enriched air compatibility, low battery warning, ascension rate, depth measurement, time locater, and prior dive information.
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For instance, leading manufacturer of dive instruments ‘Suunto’ has made a partnership with Swedish start-up company ‘3ngage’, to manufacture a 3-Dimension diving computer products which is very useful for all types of divers and helps to measure depth and time in water.
Further, companies have the opportunity to motivate consumers to pay more for brands, products, and other company services after developing new diving computer technologies and products and focusing on premiumization.
Consumers prefer to pay a high value for a product with advanced and unique features, therefore many firms begin to follow this trend and heavily spend in research and development in order to create and invent new goods and make them a premium product at a competitive price.
Growth Drivers:
- Rising Interest in Scuba Diving: The increasing popularity of recreational and professional diving activities is driving the demand for dive computers. As more people engage in scuba diving, there’s a growing need for sophisticated equipment to enhance safety and diving experience.
- Advancements in Technology: Continuous advancements in technology have led to the development of more sophisticated dive computers with features such as wireless connectivity, integrated GPS, intuitive user interfaces, and enhanced data analytics. These technological innovations attract divers looking for state-of-the-art equipment.
- Safety Regulations and Standards: Stringent safety regulations and standards implemented by diving organizations and government bodies necessitate the use of dive computers for safe diving practices. Compliance with these regulations drives the adoption of dive computers among divers, especially in professional diving sectors.
- Growing Awareness of Diving-Related Risks: Increased awareness about the risks associated with diving, such as decompression sickness and nitrogen narcosis, is prompting divers to invest in dive computers for real-time monitoring of crucial parameters like depth, time, and gas mixtures. This awareness contributes to the market growth.
- Expanding Dive Tourism Industry: The growth of the dive tourism industry, particularly in regions with rich marine biodiversity and picturesque diving spots, fuels the demand for dive computers. Divers, including both enthusiasts and professionals, seek reliable dive computers to explore underwater environments safely, thereby driving market growth.
Industry Restraints:
- High Cost of Advanced Dive Computers: While technological advancements bring sophisticated features to dive computers, they also lead to higher manufacturing costs. The relatively high prices of advanced dive computers may act as a barrier to adoption, especially for casual divers or those on a budget.
- Technical Complexity: Some dive computers come with advanced features and functionalities that may be too complex for certain users, especially beginners or occasional divers. The technical complexity of these devices could deter potential buyers or lead to user dissatisfaction and lower adoption rates.
- Limited Awareness and Education: Despite the growing awareness of diving-related risks, there remains a segment of the diving population with limited knowledge about the benefits of using dive computers. Insufficient education and awareness programs regarding the importance of dive computer usage may hinder market expansion.
- Dependency on Battery Life: Dive computers heavily rely on battery power for operation. Concerns regarding battery life, particularly during long dives or extended diving trips where access to charging facilities may be limited, can be a deterrent for some divers.
- Competition from Alternative Dive Equipment: While dive computers are essential for safe diving practices, other alternative equipment such as dive tables and analog gauges still exist in the market. Some divers, especially traditionalists or those resistant to change, may prefer these alternatives over dive computers, posing a challenge to market growth.
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Key Takeaways from the Dive Computer Market Study
- In terms of mode of sales channel, direct sales has the most market share and is expected to be the fastest expanding sales channel.
- In terms of product type, wrist dive computer is expected to be witness fastest growth over the upcoming decade.
- AMOLED display type is the most preferred dive computer in the market.
“Leading manufacturers in the global diving computer market are increasing their R&D efforts in order to extend their product range and improve technology. Also, leading businesses are focusing on new potential markets in order to grow their consumer base and establish a stronger global presence, “Says an FMI analyst.
Who is winning?
Leading dive computer manufacturer are focusing on aggressive promotional techniques, commercials, and new product launches to boost dive computer sales growth globally.
Major players present in the 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
- Garmin Ltd.
- Others
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Global Dive Computer Market by Category
By Product Type:
- Wrist Dive Computers
- Console Dive Computers
- Air Integrated Dive Computers
- Others
By Display Type:
- AMOLED Display
- MIP Display
By End User:
- Beginner/ New Diver
- Casual Diver
- Active Diver
- Advanced/ Professional Diver
By Price Range:
- High Range
- Mid– range
- Low Range
By Sales Channel:
- Direct Sales
- Hypermarkets/ Supermarkets
- Specialty Retail Stores
- Online Retailers
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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