Garmin designs, develops, manufactures, markets, and distributes diverse wearable, portable, and fixed-mount GPS-enabled products and other navigation, communications, sensor-based, and information products. Garmin is headquartered in Switzerland, and its principal subsidiaries are in the US, Taiwan, and the United Kingdom. Garmin operates under six segments fitness, outdoor, aviation, marine, consumer auto, and auto OEM.
Its products include- the Fitness segment (Running and Multi-sport Watches, Cycling Products, Activity Tracking, and Smartwatch Devices, Fitness and Cycling Accessories, etc.); the Outdoor segment (Adventure Watches, Outdoor Handhelds, Golf Devices, and Mobile App, and Dog Tracking and Training Devices); the Aviation segment (Integrated Flight Decks, Electronic Flight Displays and Instrumentation, Navigation and Communication Products, Audio Control Systems, ADS-B and Transponders, etc.); the Marine segment (GPSMAP and ECHOMAP, Cartography, Digital Switching, Trolling Motors, etc.); the Auto segment(Consumer Auto, Personal Navigation Devices (PNDs), etc.), and Auto OEM segment (Original Equipment Manufacturer (OEM) Solutions).
In FY2021, Garmin’s total unit sales increased by 8% to 16.6 million units from 15.4 million units in FY2020, which was a smaller growth than that of revenue primarily due to shifting in segment and product mix. The net sales increased by 19% in FY2021 as compared to FY2020 YoY. As of FY2021, fitness revenue represented 31% of its revenue mix, up from 28% in FY2019.
Garmin recently announced new software feature updates like Wrist-based running power (without accessory), Morning Report, Grade adjusted pace, Live event sharing, Spectator messaging, Targeted adaptive coaching, etc. for its select smartwatches the fēnix 7 series, epix (Gen 2), tactix 7, Enduro 2, MARQ (Gen 2), Forerunner 255 series, and the Forerunner 955 series, and soon to come to Forerunner 945 LTE, Edge 1040 series, and Edge Explore 2 series of cycling computers.
Garmin also recently announced its new marine cartography solution, Garmin Navionics+, which is now available preloaded into select GPSMAP series chart plotters. It is an all-in-one mapping solution that features a streamlined interface, combined coastal and inland content plus a one-year subscription to daily chart updates.
United States of America
United States of America
United States of America
United States of America
South Korea
United States of America
United States of America
Japan
Japan
Don’t wait - discover a universe of connected data & insights with your next search. Browse over 28M data points across 22 industries.
Access more premium companies when you subscribe to Explorer
Contact the team or request a demo to find out how our data can drive your business forward