A cyclocomputer is an electronic device mounted on bicycles that measures distance, time, speed, Cadence and other bicycle ride data. Cyclocomputers help cyclists to monitor and improve their riding performance and efficiency.
The global Cyclocomputer Market is estimated to be valued at US$ 542.9 Mn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the cyclocomputer market is the growing popularity and adoption of multi-functional smart cyclocomputers. These smart cyclocomputers provide advanced features and functionalities beyond the basic functions such as speed, distance and time monitoring. They integrate GPS, sensors and connectivity features to track route, live updates, alerts and sync rider performance with mobile apps for analysis. Features like navigation assist, Cadence sensors, power measurement, heart rate monitoring have increased their demand. Integration of 4G connectivity is also gaining traction allowing riders to remain connected while riding. Meanwhile, inexpensive basic cyclocomputers continue to have strong demand in developing markets.
SWOT Analysis
Strength: Cyclocomputers offer features like GPS tracking, speed and distance measurement which enhance rider’s safety and experience. They provide data analysis tools to monitor fitness progress.
Weakness: Low-end models have basic features and smaller screens which can cause issues while reading during rides. Dependence on battery power is also a limitation.
Opportunity: Increasing popularity of cycling as an active lifestyle and fitness activity is driving the demand for associated gear including cyclocomputers. Emerging technologies like WiFi connectivity and improved displays offer opportunities.
Threats: Potential decline in personal incomes due to economic uncertainties could impact discretionary spend on cycling equipment. Stiff competition from smartwatches and phones that offer many similar features at lower prices.
Key Takeaways
The global Cyclocomputer Market Is Growth expected to witness high, exhibiting CAGR of 7.5% over the forecast period, due to increasing popularity of cycling as a fitness activity and lifestyle sport. Avid cyclists regularly use cyclocomputers to track metrics, plan routes and monitor performance over time.
Regional analysis: North America currently dominates the cyclocomputer market due to high cyclist participation rates and growing health awareness. Europe holds a significant share and the market is growing rapidly in Asia Pacific with rising incomes and focus on activities like cycling amid urbanization. China in particular is emerging as a major hub for manufacturing as well as consumption.
Key players operating in the Cyclocomputer market are armin Ltd., CatEye Co., Ltd., Wahoo Fitness, Sigma Sport, Bryton Inc., Lezyne, Polar Electro Oy, Bontrager (Trek Bicycle Corporation), Stages Cycling LLC, Pioneer Corporation, SRM GmbH, Magene Technology Co., Ltd., Giant Manufacturing Co., Ltd., Topeak Inc., Mio Technology (Navman Group). These companies compete based on product features, quality, reliability, brand recognition and pricing. Higher-end cyclocomputers with advanced GPS and connectivity are marketed by Polar, Wahoo, Bryton etc.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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