Market Research Future (MRFR) has published on the “Global Cycle Computer Market”.
The Cycle Computer Market is estimated to register a CAGR of 5.7 % during the forecast period of 2024 to 2032.
MRFR recognizes the following companies as the key players in the global Cycle Computer market— Garmin Ltd, CATEYE Co., Ltd, CYCPLUS, SIGMA-ELEKTRO GmbH, Bryton Inc, Polar Electro, Giant Manufacturing Co Ltd, Meilan, Trek bicycle corporation, Wahoo Fitness, iGPSPORT, Stages Cycling, O-synce (Momes GmbH), BBB Cycling, BION INC, LEZYNE, Hammerhead among others.
Cycle Computer Highlights
The Global Cycle Computer Market is accounted for to register a CAGR of 5.7 % during the forecast period and is estimated to reach USD 1,015.3 million by 2032.
With the rise in health-consciousness among bicycle riders, the demand for cycle computers is rising, as these devices track various details such as energy level, water percentage, calories burned, heart rate, and others based on the course and energy exertion. The overall health-conscious population is expected to grow significantly, increasing the number of cyclists globally. Furthermore, with the rider's need for a health-tracker and GPS tracker, a bike computer is a necessary device that is expected to create lucrative growth opportunities for the bike computer market. Furthermore, apart from traditional fitness enthusiasts and serious practitioners, there has been an increase in the trend of cycle users over the last decade, which is expected to fuel market growth of cycle computers.
People prefer to travel long distances by bicycle, which fuels demand for bicycles, particularly e-bikes. The demand for cycle computers is increasing as cyclists become more health conscious. Based on the course and energy effort, these devices track a variety of parameters such as energy level, water percentage, calories burned, and heart rate. . Most cycle computers come with a mount so that it can be attach to the bike's handlebars or stem. A wired computer type device allows cyclists to track their performance. Riders can record the course and offer it with different riders to more readily comprehend the course's subtleties like elevation changes, climbs, plunges, and complete distances. Propels in bicycle PCs, like remote PCs, joined with an expansion in the quantity of cyclists, are supposed to give worthwhile development to showcase members in the cycle computers market.
Browse In-depth Detailed Research Report [Table of Content, List of Figures, List of Tables] of Global Cycle Computer Market
Segment Analysis
The Global cycle computers market has been segmented based on offering, application and bike type.
Based on offering, the global cycle computer market has been segmented into cycling computers and cycling sensors. Cycling computers held a significant market share of 82%. Cycle computers are further sub segmented into wired computer, wireless computer and GPS computer. Cycling sensors are divided into speed sensors, cadence sensors, speed/cadence dual mode sensors, heart rate sensors. A cycle computers or cycling computer is a device mounted on a bicycle that records information about the user's ride, such as speed and distance, time taken to reach the destination, and even bragging rights information such as maximum speed. The key advantage of wireless sensors is that it can communicate with the cycle computer wirelessly, so the sensor and the cycle computer can be placed anywhere within the range of the wireless sensor or the cycle computer.
Based on application, the global cycle computer market has been segmented into fitness & commuting and athletics & sports. Athletics & sports held the largest market share. Athletes and sports enthusiasts utilize cycle computers extensively during road races, club runs, mountain tracking competitions, and various cycling events. These devices provide comprehensive data about the cycling journey, including crucial metrics like speed, distance, and the time needed to reach the destination.
Based on bike type, the global cycle computer market has been segmented mountain bike and road bike. Mountain bike held the largest market share. Mountain bikes are specially designed for usage on unpaved surfaces such as single tracks, fire roads, mountain trails, and other off-road surfaces while Road bikes are commonly used for fitness & commuting purposes.
Regional Analysis
By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East and Africa and South America. The North America Cycle Computer Market accounted for ~32.0 %. The presence of prominent players such as Garmin Ltd, Trek Bicycle Corporation, Wahoo Fitness, Stages Cycling and others in the North America region drives the market's growth. Moreover, expanding discretionary cash flow, developing gridlock and lack of parking spot, and rising reception of cycling as a side interest and sports are different elements that drive the development of the North America cycle market and consequently the cycle computers market.
Rising interests in bike framework and legislative drives for a greener economy are picking up speed in the cycle business in Europe. Also, the rising reception of cycle PCs in trackers, proficient cyclists, and trail blazing bicycle riders for cycling difficulties, mountain following and other cycling experiences drives the development of the Europe cycle PC market.
The developing utilization of the cycle in traveling, sports, and open air exercises, alongside an expansion in the quantity of cycling contests and other cycling occasions in Asia-Pacific nations, is anticipated to drive interest for cycles in Asia-Pacific. Additionally, numerous territorial corporate workplaces have urged their representatives to cycle to the workplace and inside their grounds to further develop air quality and lessen contamination.
Key Findings of the Study
- The Global cycle computer market is expected to reach USD 1015.3 million by 2032, at a CAGR of 5.7 % during the forecast period.
- The North America region accounted for the fastest-growing global market.
- Based on offering, the cycling computers segment was attributed to holding the largest market share, with an approximate market share of 82%.
- Garmin Ltd, CATEYE Co., Ltd, CYCPLUS, SIGMA-ELEKTRO GmbH, Bryton Inc, Polar Electro, Giant Manufacturing Co Ltd, Meilan, Trek bicycle corporation, Wahoo Fitness, iGPSPORT, Stages Cycling, O-synce (Momes GmbH), BBB Cycling, BION INC, LEZYNE, Hammerhead among others are some of the players in the market.
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Companies Covered | 15 |
Pages | 142 |
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