August 04, 2011 10:49 AM Eastern Daylight Time
LONDON–(BUSINESS WIRE)–The Launch of Nike/TomTom’s GPS fitness watch has given the market the shot in the arm it needed, with new devices, applications, and companies helping to drive forecasts for fitness GPS shipments beyond the 10 million mark.
“Garmin remains by far the dominant player in this expanding market, with over 90% of the market share, but it will face some new emerging competition.”
Garmin has responded to the challenge positively with the latest edition of its Forerunner series, the 610, a watch featuring slim line ergonomics and responsive touch user interface. Garmin’s Outdoor and Fitness division delivered 27% of the company’s total operating income for 2010, and saw a 25% increase in fitness sales for 2Q11. Telematics and navigation senior analyst Patrick Connolly said, “Garmin remains by far the dominant player in this expanding market, with over 90% of the market share, but it will face some new emerging competition.”
Polar, Citizen, and Casio have also made announcements around new GPS fitness devices. Polar launched its RCX5 training computer, which features a GPS accessory. Citizen has also taken steps to integrate GPS into its watches with the Appleseed. Although the watch has no clear fitness application and clocks in at over $4000, the GPS technology is expected to filter into future watch lines. Additionally, Casio announced its prototype watch that features Bluetooth 4.0 for smartphone synching. it has stated that it plans to incorporate public transport and fitness functionality via GPS in the near future.
Fitness remains a key segment at the major application stores. Companies like Runkeeper, Nike, and MapMyRun continue to attract new users and investigate new business models. Telematics and navigation practice director Dominique Bonte said, “There has also been a dearth of health/fitness devices launched on the market in 1H11, from companies such as Basis, Fitbit, Jawbone, Bodymedia, Philips and Hitachi. Many have indicated that GPS is part of their future plans.”
ABI Research’s study, “Recreational, Outdoor, and Fitness GPS Solutions,” (http://www.abiresearch.com/research/1003546) compares the hardware and mobile application revenue for key GPS sports, outdoor, and fitness markets, illustrating how these will evolve together.
it is part of the firm’s Location Platforms and Enablers Research Service (http://www.abiresearch.com/products/service/Location_Based_Services) which also includes other Research Reports, Surveys, Market Data products, ABI Insights, ABI Vendor Matrices, and analyst inquiry support.
ABI Research provides in-depth analysis and quantitative forecasting of trends in global connectivity and other emerging technologies. from offices in North America, Europe and Asia, ABI Research’s worldwide team of experts advises thousands of decision makers through 40+ research and advisory services. Est. 1990. for more information visit www.abiresearch.com, or call +1.516.624.2500.
<a href="http://www.businesswire.com/news/home/20110804006164/en/Garmin-Citizen-Casio-Sights-Set-10-Milliontag:news.google.com,2005:cluster=http://www.businesswire.com/news/home/20110804006164/en/Garmin-Citizen-Casio-Sights-Set-10-MillionThu, 04 Aug 2011 14:51:43 GMT 00:00″>Garmin, Citizen, and Casio Have Their Sights Set on the 10 Million Unit Fitness GPS Market, According to ABI Research
Related Blogs
)