The increasing popularity of smart cycling as a recreational activity and the growing awareness about the health benefits of cycling are some of the key factors driving the growth of the market. Additionally, the development of advanced technologies such as GPS, power-assist systems, and connected technologies is expected to further boost the smart bicycles market growth. Furthermore, the growing need for eco-friendly transportation is encouraging people to opt for smart bicycles, which is aiding the growth of the market. The rise in the demand for electric bicycles (e-bikes) is anticipated to drive the market growth over the forecast period.
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The market research report includes a detailed segmentation of the smart bicycles market by components(e-Bike Lock, Anti-theft Features, smart bike monitoring system, custom sensors, and battery), by ride-sharing services(dockless, docked, and hybrid), by regions (Americas, APAC and EMEA). The market research report identifies Google, Mobike, OFO, Giant Bicycles, Beeline, oBike, Velospot, XBikes, and BCycle as the major vendors operating in the smart bicycles market.
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Among the ride-sharing services segment, the dockless bicycle sharing is popular because of the vast Chinese dockless ride-sharing service providers which have lead to low-cost manufacturing of bicycles in the areas. This has significantly reduced the cost per ride in Europe and North American countries as well. But these companies have not been able to protect the vehicles from being misused and theft resulting in the closure of their operations in few of the important cities. However, the dock-based and hybrid ride sharing models have been able to significantly focus on vehicle protection and safety norms despite the high cost of the ride.
Competitive Analysis & Key Vendors
The report covers the competitive landscape, which includes M&A, joint ventures & collaborations, and competitor comparison analysis.
The smart bicycle OEMs spend over 10-20% of the vehicle price to deploy smart devices on it which include sensors, punctureless tyres, smart lock, electric display, speed indicators, and battery. In recent years, smart electric bicycles have evolved with additional features like mobile phone charging, smart backpacks, GPS navigator, theft alarm, and automatic headlights.
Vodafone and AT&T are currently offering smart bicycle monitoring platforms by enabling IoT on a smart lock. Despite the temporary failure of some of the smart locks, these companies are expected to witness higher adoption for IoT platforms across geographies. Further, analytics is expected to push the demand for innovative personalized healthcare services for smart bicycle owners.
The report comprises an analysis of vendor profile, which includes financial status, business units, key business priorities, SWOT, business strategies, and views. In the vendor profile section, for companies that are privately held, the financial information and revenue of segments will be limited.
The key players offering smart bicycles globally include:
Mobike
OFO
Giant Bicycles
Beeline
oBike
Velospot
XBikes and
BCycle
The smart bicycles market is categorized based on three segments – components, ride-sharing services and regions.
Smart Bicycles Market by Components
e-Bike Lock
anti-theft Features
smart bike monitoring system
custom sensors and
battery
Smart Bicycles Market by Ride-Sharing Services
dockless
docked and
hybrid
Smart Bicycles Market by Regions
Americas include North America and Latin America
EMEA include Europe, Middle East and Africa
APAC include East Asia, South Asia, Southeast Asia, and Oceania)
Smart Bicycles Market Benefits
The aim of this report is to define, describe, and forecast the smart bicycles market on the basis of segments, which include types, applications, and regions.
In addition, it helps venture capitalists in understanding the companies better and make well-informed decisions. It is primarily designed to provide the company’s executives with strategically substantial competitor information, data analysis, and insights about the market, development, and implementation of an effective marketing plan.