The Global Smart Bicycles Market Revenue to Reach $416.4 Million by 2023
Bangalore, India – October 16, 2018: With its recently published study “Global Smart Bicycles Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2023”, Infoholic Research forecasts that the market for smart bicycles will continue to grow owing to the push from regulatory for low carbon emission transit and increasing demand for multi-modal transportation in smart cities.
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According to Infoholic Research, smart bicycles have been gaining popularity since 2012 owing to the push from local governments to curb pollution. Smart bicycles enable multi-modal transportation to commuters, which is a cost-effective transit solution, when compared to electric vehicles, for smart cities.
Smart bicycle OEMs spend over 12% of the vehicle price to deploy smart devices on it. The smart devices include sensors, punctureless tyres, smart lock, electric display, speed indicators, and battery among others. In recent years, smart electric bicycles have evolved; these supports charging a mobile phone while riding and include smart backpacks, GPS navigator, theft alarm, and automatic headlights among others.
The smart bike component segment is likely to witness a substantial competition among the leading IoT platform providers. 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. Considering a wide range of benefits of smart bicycles, the market for smart bicycles is likely to witness growth in all smart cities.
“Smart bicycles support multi-modal transportation services and provide last mile connectivity to the commuters. Smart bicycles are likely to witness huge innovations due to the increasing focus from the leading technology and telecom companies across the globe. However, the regulatory framework needs to be strengthened to support semi-autonomous and electric smart bicycles.” – Srujan, Research Analyst at Infoholic Research
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The report covers the current market scenario and growth prospects of the global smart bicycles market during the forecast period 2018–2023. The report provides an in-depth analysis and forecast about the industry covering the following key features:
- Components: e-Bike Lock, Anti-theft Features, Smart Bike Monitoring System, and Custom Sensors
- Ride-sharing: Dockless, Docked, and Hybrid
- Regions: Americas, APAC, Europe, and MEA
- The report contains an analysis of vendors profile, which includes financial health, business units, key business priorities, SWOT, strategies, and views.