The global dive computer market is expected to grow at a CAGR of 5.7% from 2022 to 2032, reaching a value of US$ 1109.3 Mn by the end of 2032. Further, numerous dive computer firms are concentrating on innovation and expanding their portfolios in order to improve market penetration.
They are also offering several diving computer devices based on their featured characteristics, such as depth measurement, time locater, ascent rate, previous dive information, low battery warning and enriched air compatible feature.
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.
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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.
"Leading manufacturers in the global diving computer market are increasing their RD 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 Garmin Ltd., Johnson Outdoors Inc., Aqua Lung International, Poseidon Diving System AB, Suunto Oy, Mares, Oceanic, Shearwater Research Inc., Sherwood Scuba LLC., and Atomic Aquatics among others.
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