Smart Bicycle Accessories Market to Grow at a CAGR of Around ~9% Through 2029 - PMR

NEW YORK, Aug. 26, 2019 /PRNewswire/ -- Persistence Market Research has published a report on the smart bicycle accessories market that includes global industry analysis 2014–2018 and forecast 2019–2029. The report covers latest trends, macroeconomics factors, key information, forecast factors, and key success factors, along with the historical market scenario. The value of the global smart bicycle accessories market was worth over a million US$ in 2018. In terms of value, the smart bicycle accessories market is projected to grow at a significant growth rate during the forecast period.

PMR has conducted a structured market research on the smart bicycle accessories. The smart bicycle accessories market report estimates that, during the forecast period, smart onboard computers and smart sensor segments are expected to create significant growth opportunities in the global smart bicycle accessories market, both in terms of, volume and value.

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On the regional front, the Europe smart bicycle accessories market is observed to be a prominent market with similar trend followed during the forecast period. Countries such as China, Poland, and India, are identified as emerging markets of smart bicycle accessories owing to the fast-paced production activities in these countries.

Smart Bicycle Accessories Market: Segmental Analysis

By product type, the global smart bicycle accessories market is segmented into smart helmet, smart lock, smart light, smart glove, smart onboard computer, smart sensor, and smart power meter. The smart bicycle accessories market is expected to be prominent in the smart onboard computer owing to the advanced features such as map, theft alert notification, heart rate monitoring, and several other features. The smart glove segment is projected to have less share as compared to the other segments of the product type. Moreover, manufacturers of smart bicycle accessories are focusing more on safety features as compared to conventional bicycle systems. The aforementioned factor is expected to increase the sales of smart bicycle accessories during the forecast period.

By sales channel, the global smart bicycle accessories market is segmented into offline and online. The offline segment is projected to be prominent throughout the forecast period.

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By region, the smart bicycle accessories market report studies markets across several regions such as North America, Latin America, Europe, South Asia, East Asia, Middle East & Africa, and Oceania. North America and Europe are expected to grow with a predominant share in the global smart bicycle accessories market over the forecast period. However, East Asia is representing healthy growth in the smart bicycle accessories market.

For an in-depth analysis, PMR has divided the market structure in two levels: tier 1 and tier 2. Tier 1 players are estimated to account for high share in the global smart bicycle accessories market across the world.

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The global smart bicycle accessories market is consolidated owing to the presence of less manufacturers of smart bicycle accessories across the globe. Prominent players in the global smart bicycle accessories market are focusing on the development of smart bicycle accessories, adopting business expansions, collaborations, and acquisition strategies to capture significant share of the global market.

• In 2018, Sena Technologies, Inc. announced the initial shipments of Bluetooth-Integrated Momentum, Momentum Lite, and Momentum INC smart helmets.
• In 2018, Sigma Sport expanded its business by the addition of new 30,000 square-foot distribution centre in Grantham, Lincolnshire.
• In 2019, Garmin Ltd collaborated with Daimler, to bring connected features in Mercedes-Benz vehicles with Vívoactive 3 GPS smart watch.

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Global Smart Bicycle Accessories Market: Competitive Landscape

Some of the market participants reported in this study in the global smart bicycle accessories market includes Garmin Ltd., Pioneer Corporation, Assize Technology Co., Ltd., Polar Electro, Robert Bosch GmbH, Sena Technologies, Inc., Linka, LIVALL, Vanhawks Inc., Wuhan Qiwu Technology Co., Ltd., VDO Cycle Computing, and Sigma Sport, among others.

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