Precision engineering to provide thrust to stopwatches

Dublin, Ireland, Aug. 23, 2022 (GLOBE NEWSWIRE) — According to the latest stopwatch report by Fact.MR, a market research and competitive intelligence provider, the global market is valued at US$197 million and is expected to grow at a CAGR of around 5.7% over the forecast period 2022-2032.

Market growth is attributed to factors such as increasing demand for all-wheel drive which improves torque transfer capabilities, demand for specialized and adaptive coaching and image processing features, as well as integrated accelerometers to generate race track data to complete future laps more efficiently.

The technology is rapidly gaining traction as the sports industry shows tremendous growth and advancement in measuring devices which are primarily used to measure the performance of moving flaps to estimate the type of force vehicles experience on a racetrack. Sports car manufacturers and participants prefer a product that offers more precision, information and data while driving.

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Another significant factor driving the growth of the market is the increased use of performance measurement equipment in the sports industry. An increase in consumer demand for real-time track data and advanced product capabilities in stopwatches for multiple end uses, along with an increase in the motorsports industry, are key factors expected to drive the stopwatch market in the coming years.

Key insights from market research

  • By type, Digital Stopwatches are expected to offer an absolute dollar opportunity of US$139 million over the forecast period (2022-2032).
  • Manual stopwatches are expected to represent 14.5% market share by 2032.
  • Based on end use, motorsports use is projected to create an absolute dollar opportunity of US$79 million by 2032.
  • Moto-GP sub-segment to create an absolute dollar opportunity worth US$38 million by 2032.
  • North America is expected to capture around 28.9% of the global stopwatch market share by 2032 and valued at $99 million by 2032.
  • Europe is expected to offer an absolute dollar opportunity worth US$57 million by 2032, growing at a high CAGR of 6.5%.

Winning strategy

Manufacturers are collaborating with leading sports teams as well as eminent sports vehicle manufacturers to establish significant market share in different end-use segments.

Major stopwatch providers are also expected to focus on digital services, which include automatic data interpretation which is primarily used for driver performance enhancement. These strategies are expected to benefit market players in terms of boosting their annual sales in regional markets.

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Competition Landscape

Garmin Ltd., Aim Technologies Group, Racelogic, Unipro ApS, KSR Parts Ltd., Sumomoto, Speed ​​Angle, Starlane srl and Koso are some of the leading companies in the stopwatch market.

The top two tier stopwatch brands have started to use python script stopwatch products and customize them according to user needs. Thus, the integration of advanced technology in the stopwatches increases the efficiency of the product. Leading manufacturers are also focusing on an efficient supply chain system to increase their overall profits.

Fact.MR provided detailed information on the overall strategies adopted by the stopwatch manufacturers along with their in-depth insights including SWOT analysis and sales generated by the target sports that use digital stopwatches positioned in different geographies.

Key Segments Covered by the Lap Timer Industry Research

  • Stopwatches Market by Product Type:
    • Manual stopwatches
    • Digital Stopwatches
  • Stopwatch Market by End Use:
    • Sports car
      • off-road racing
      • Formula 1
      • Car race
      • kart racing
      • drag-racing
    • Motorcycle Sports
  • Stopwatches Market by Sales Channel:
    • Stopwatch Offline Sales
      • Franchised sports stores
      • Independent outlets
    • Online sale of stopwatches
      • E-commerce websites
      • Company websites
  • Stopwatch Market by Region:
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia and Oceania
    • Middle East and Africa

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More valuable information Available

Fact.MR, in its new offering, presents an unbiased analysis of the Stopwatches market, showcasing historical market data (2017-2021) and forecast statistics for the period 2022-2032.

The study reveals essential information on the basis of type (manual stopwatches, digital stopwatches), end use (motor sports (off-road racing, auto racing, formula 1, kart racing, drag racing) motorcycle sports (moto GP, motocross, downhill), and sales channel (offline (franchise sports stores and independent sports stores), online (e-commerce sites, corporate sites)), in six major regions of the world ( North America, Latin America, Europe, East Asia, South Asia and Oceania, and MEA).

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