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Smart Bike Market Size, Share, Growth & Industry Trends 2031
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Smart Bike Market Size, Share, Growth & Industry Trends 2031

Segments - Smart Bike Market by Connectivity (Wi-Fi and Bluetooth), Handle Type (Moving and Fixed), Application (Commercial and Residential), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Author : Akash Vedpathak
https://growthmarketreports.com/Vaibhav
Fact-checked by : V. Chandola
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Editor : Shruti Bhat

Upcoming | Report ID :AL-5178 | 4.4 Rating | 70 Reviews | 190 Pages | Format : PDF Excel PPT

Report Description


The global smart bike market size was USD XX Mn in 2022 and is likely to reach USD XX Mn by 2031, expanding at a CAGR of XX% during 2023–2031. Increasing demand for smart bikes is fueling the market in the coming years.

Smart bike is an enhanced type of normal bike used in daily life. These bikes can help maintain fitness concerns in daily life. The smart bikes have a built-in screen to display the information. Moreover, smart bikes can be connected using Wi-Fi or Bluetooth to smartphones, smartwatches, and tablets to set the timing for exercising.

Smart Bike Market Outlook

Smart bikes are costly bikes. VanMoof is a renowned smart bike company. Its products cost nearly EUR 2000. However, the features of this smart bike are growing rapidly with time. Some of the smart bikes include PowerMax BS-130, Wattbike, and Joroto Indoor Cycle.

The requirements for smart bikes during the COVID-19 pandemic rose considerably, as sports persons and people interested in fitness adopted fitness regimes at home. Several fitness centers closed down owing to lockdowns imposed globally during the pandemic, which propelled the demand for smart bikes. Sports and fitness enthusiasts ended up purchasing cycles, dumbbells, and treadmills.

Smart Bike Market Dynamics

Smart Bike Market Dynamics

Major Drivers

Rising demand for technologically advanced smart bikes is expected to drive the market. Increasing adoption of e-commerce, rising youth population, and growing lifestyle health issues are expected to drive the smart bike market.

Existing Restraints

The battery life of smart bikes is less and these vehicles require long charging time, which is expected to hamper the market in the forecast period. Moreover, smart bikes are expensive, and indoor smart bikes can be repetitive and monotonous. The maintenance of the smart bike can be complicated, the LCD and sensors in the smart bikes are sensitive hence, the cost of dying sensor or replacement of the LCD screen can be costly. Thus, hampering the market during the forecast period.

Emerging Opportunities

The ability to receive commands and information is remote, which is expected to create lucrative opportunities for the market players. Key players are developing different solutions and integration for smart bikes. Specialized Bicycle Components Inc., the US-based company, has integrated novel features into its products.

Scope of the Smart Bike Market Report

The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Smart Bike Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Connectivity (Wi-Fi and Bluetooth), Handle Type (Moving and Fixed), Application (Commercial and Residential)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast

Key Players Covered in the Report

Echelon Fitness Multimedia LLC.; Keiser.; Johnson Health Tech.; MAD DOGG ATHLETICS; Wahoo Fitness.; Nautilus, Inc.; and Life Fitness.

Market Segment Insights

Based on connectivity, the smart bike market is divided into wi-fi and Bluetooth. The Bluetooth segment is expected to expand at a significant pace during the projection period. Many security features have been embedded in smart bikes and electric vehicles, including alarm functions to protect them from thieves. Additionally, these bikes come with different applications for protection purposes such as users can lock their smart bike with the help of LINKA smart bike lock and can control it through the smartphone application.

Smart Bike Market Connectivity

On the basis of handle type, the global market is segregated into moving and fixed. The moving segment is projected to register a considerable CAGR during the forecast period. These handles help in developing arm strength and helping building cardio capacity. The use of smart bikes affects joints more than cardio.

In terms of application, the smart bike market is bifurcated into commercial and residential. The residential segment is expected to expand at a robust pace during the forecast period. Rising urbanization, busy schedules of working people, and inactive lifestyle are anticipated to boost the adoption of smart bikes during the forecast period. Moreover, growing demand for smart bikes to treat health-related problems is boosting the segment.

Smart Bike Market Application

Based on region, the global smart bike market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the market during the projection period owing to the eco-friendly transportation mode, and appropriately connected roads in the region. According to an estimation, in 2013 nearly 40 million smart bikes were sold worldwide.

Segments

The smart bike market has been segmented on the basis of

Connectivity

  • Wi-Fi
  • Bluetooth

Handle Type

  • Moving Handle Type
  • Fixed Handle Type

Application

  • Commercial
  • Residential

Region

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

Competitive Landscape

Key players competing in the global smart bike market are Echelon Fitness Multimedia LLC.; Keiser.; Johnson Health Tech.; MAD DOGG ATHLETICS; Wahoo Fitness.; Nautilus, Inc.; and Life Fitness.

These companies adopt strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production expansion to increase their consumer base. For instance,

  • In April 2022, A fitness company, Blue goji, acquired the intellectual property and assets of Interactive Fitness Holdings (IFH). Blue goji is likely to maintain the CyberCycle exercise and Expresso bikes during the acquisition. The aim of the acquisition is to pair CyberCycle Bikes with GojiCare and Expresso Bikes with GojiPlay to engage customers.
  • In April 2019, Garmin Ltd. declared the acquisition of the Tacx Onroerend en Roerend Goed B.V (Tacx), a company that makes tools and accessories, indoor bikes, and applications for indoor training.

​​​​​​Smart Bike Market Key Players​

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Smart Bike Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Smart Bike Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Smart Bike Market - Supply Chain
  4.5. Global Smart Bike Market Forecast
     4.5.1. Smart Bike Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Smart Bike Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Smart Bike Market Absolute $ Opportunity
5. Global Smart Bike Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Smart Bike Market Size and Volume Forecast by Applications
     5.3.1. Commercial
     5.3.2. Residential
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Smart Bike Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Smart Bike Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Smart Bike Demand Share Forecast, 2019-2026
7. North America Smart Bike Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Smart Bike Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Smart Bike Market Size and Volume Forecast by Applications
     7.4.1. Commercial
     7.4.2. Residential
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Smart Bike Demand Share Forecast, 2019-2026
8. Latin America Smart Bike Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Smart Bike Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Smart Bike Market Size and Volume Forecast by Applications
     8.4.1. Commercial
     8.4.2. Residential
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Smart Bike Demand Share Forecast, 2019-2026
9. Europe Smart Bike Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Smart Bike Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Smart Bike Market Size and Volume Forecast by Applications
     9.4.1. Commercial
     9.4.2. Residential
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Smart Bike Demand Share Forecast, 2019-2026
10. Asia Pacific Smart Bike Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Smart Bike Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Smart Bike Market Size and Volume Forecast by Applications
     10.4.1. Commercial
     10.4.2. Residential
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Smart Bike Demand Share Forecast, 2019-2026
11. Middle East & Africa Smart Bike Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Smart Bike Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Smart Bike Market Size and Volume Forecast by Applications
     11.4.1. Commercial
     11.4.2. Residential
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Smart Bike Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Smart Bike Market: Market Share Analysis
  12.2. Smart Bike Distributors and Customers
  12.3. Smart Bike Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Echelon Fitness Multimedia LLC.
     12.4.2. Keiser.
     12.4.3. Johnson Health Tech.
     12.4.4. MAD DOGG ATHLETICS.
     12.4.5. Wahoo Fitness.
     12.4.6. Nautilus, Inc.
     12.4.7. Life Fitness.

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