Cyclocomputers are electronic devices that are mounted to bicycles to provide critical riding metrics to cyclists. The devices typically measure and display speed, distance, time, and other metrics to help riders track their activity levels. Cyclocomputers come with advanced features like GPS, heart rate tracking, calorie counts, maps and navigation assist systems. Their use has become common among professional and amateur cyclists to optimize training efforts and monitor fitness levels over time.
The Global Cyclocomputer Market is estimated to be valued at US$ 625.43 Bn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Global Cyclocomputer market Share are Morita Corporation, Alpha Dent Implants Ltd., Shofu Dental Corporation, Coltene Group, 3M Company, Institut Straumann AG, Zimmer Biomet, Dentsply Sirona Inc., DiaDent Group International, and Essential Dental Systems Inc., among others.
The growing popularity of smart bikes and electric bicycles is boosting demand for cyclocomputers globally. Features like built-in GPS systems, Bluetooth connectivity and app integration have made cyclocomputers an essential gear for most cyclists. Manufacturers are also focusing on lightweight and durable designs to attract more users.
Cyclocomputer market players are expanding their geographical presence by establishing manufacturing and distribution facilities around the world. The rising cycling culture in developing nations is prompting companies to raise awareness through marketing campaigns and partnerships with cycling clubs/events in these high potential markets.
Market key trends
Integration of artificial intelligence into cyclocomputers is one of the key trends witnessed in the market. AI features allow devices to provide personalized training routines, modify workout intensity based on real-time feedback and warn riders of potential health issues. Cloud connectivity is another emerging trend that syncs activity logs with mobile apps for more in-depth statistical analysis of rides over time. These innovations are expected to boost the popularity of smart cyclocomputers among amateur and professional cyclists globally.
Porter’s Analysis
Threat of new entrants: New entrants face high capital requirements to manufacture advanced cyclocomputers. Bargaining power of buyers: Buyers have moderate bargaining power due to availability of varied products from numerous established brands. Bargaining power of suppliers: Suppliers have moderate bargaining power as there are multiple raw material suppliers. Threat of new substitutes: Threat from substitutes is low as there are limited alternatives to cyclocomputers. Competitive rivalry: Intense competition among existing players to gain market share.
The European region accounted for the largest share of the cyclocomputer market in 2024, followed by North America and the Asia Pacific. Higher penetration of bicycles and increasing awareness regarding fitness and health are driving the demand for cyclocomputers in Europe.
The Asia Pacific region is expected to grow at the fastest CAGR from 2024 to 2031. Rising disposable incomes, growing health consciousness, increasing bicycle sales, and rapid urbanization in emerging countries such as China and India are contributing to the growth of the cyclocomputer market in the Asia Pacific.
Geographical Regions:
The European region accounted for the largest share of the cyclocomputer market in 2024, followed by North America and the Asia Pacific. Higher penetration of bicycles and increasing awareness regarding fitness and health are driving the demand for cyclocomputers in Europe.
The Asia Pacific region is expected to grow at the fastest CAGR from 2024 to 2031. Rising disposable incomes, growing health consciousness, increasing bicycle sales, and rapid urbanization in emerging countries such as China and India are contributing to the growth of the cyclocomputer market in the Asia Pacific.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it