Bike Computer Market Projections by 2026: Future Trends, Competitive Analysis, Applications and End-Users
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Increase in health-consciousness among individuals is a major factor which helps drive the growth of the bike computer market. However, substitute products such as fitness wearables and smart watches restraint the market growth of bike computers. On the contrary growth in number of cycle users is expected to provide lucrative growth opportunity of the bike computer market.
With the increase of health-consciousness among bicycle users, the demand for bike computers is increasing as these devices track various details such as energy level, water percentage, calories burned, heart-rate, and others that are based on the course and energy exertion. In addition to this, the bike computer devices can also assist the riders with GPS technology. Furthermore, the GPS navigation provided by bike computer devices is projected to assist the cycle riders with maps for a better commute. For instance, Garmin, one of the leading producers of bike computer devices from the U.S., launched their bike computer product named Edge 520, which is the first device incorporated with GPS technology. It enables the riders to commute with turn-by-turn navigation and bike-specific routing. Riders can record the route and share it with fellow riders to understand the route with detailed elements such as altitude changes, climbs, descents, and total distances.
It is argued that use of mobile phones can be preferred over bike computers. However, mobile phones cannot provide battery back-up of more than 6-8 hours when used continuously. Whereas, cyclocomputers have a battery back-up of around 15 hours. In addition, it is not possible to use mobile devices as a substitute for bike computers as there are several disturbances such as incoming call or messages which affect the riders concentration. Furthermore, use of smartwatches or fitness wearables is expected to be a major substitute of the bike computer market. Smartwatches track similar details, and hence, can be a restraining factor for the cyclocomputer devices.
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The overall health-conscious population is projected to rise significantly to boost the number of cycle riders worldwide. Furthermore, with the need of a health-tracker and GPS tracker for the rider, a bike computer is an essential device which is anticipated to create lucrative growth opportunities for the bike computer market. In addition, over the past decade there is a growth in the trend of cycle users apart from the traditional fitness enthusiasts and serious practitioners which is estimated to further fuel the market growth.
The global bike computers market is segmented by product type, sensor type, application, and geography. The product segment is divided into wired and wireless. Depending on the sensor type, the market is categorized into rear wheel sensor speed/cadence sensor, gradient sensor, heart rate sensor. The application segment is classified into fitness & commuting, and athletics & sports. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players in the bike computer market that are profiled in the report are CatEye, Garmin, Pioneer Electronics, KNOG, Giant Bicycles, VDO Cyclecomputers, VETTA, Sigma Sport, Bryton Inc., Polar.
o This study comprises analytical depiction of the global bike computer market with current trends and future estimations to depict the imminent investment pockets.
o The overall market potential is determined to understand the profitable trends to gain a stronger coverage in the market.
o The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
o The current market is quantitatively analyzed from 2019 to 2026 to highlight the financial competency of the market.
o Porters five forces analysis illustrates the potency of the buyers and suppliers.
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Bike Computer Market Key Segments:
By Product Type
o Wired Computer
o Wireless Computer
By Sensor Type
o Rear Wheel Sensor
o Speed/Cadence Sensor
o Gradient Sensor
o Heart Rate Sensor
o Fitness & Commuting
o Athletics & Sports
o North America
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