Outdoor Cycling Training Is Fastest Growing Segment Fueling The Growth Of Cyclocomputer Market

https://www.coherentmarketinsights.com/market-insight/cyclocomputer-market-5923
Cyclocomputer Market



Market Overview:

A cyclocomputer is an electronic device mounted on bicycles that provides data related to speed, distance, time and other metrics related to cycling. It displays information to cyclists which help to track their training and performance.

Market key trends:
One of the key trends in the cyclo-computer market is the introduction of advanced features like navigation, connected features and smartphones integration. The new generation cyclocomputers come with maps, GPS navigation and connectivity options to pair with smartphones. This allows users to view messages, calls and other smartphone notifications on the display. Many models also support Bluetooth sensors to record cadence, heart rate and other fitness metrics. This is fueling the demand of high-end cyclocomputers with advanced functionalities.

The global Cyclocomputer Market Trends 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.

Segment Analysis
The global cyclo-computer market is dominated by the wheel based segment due to its accurate and reliable functionality. A wheel based cyclocomputer uses sensors attached to the wheel spokes or hub to calculate speed and distance by counting revolutions. This avoids errors caused by vibrations that may occur in GPS based systems. GPS based cyclocomputers are the second largest segment owing to their mapping and navigation features but have lower accuracy compared to wheel based ones.

Key Takeaways
The global cyclocomputer market is expected to witness high growth, exhibiting CAGR of 7.5% over the forecast period, due to increasing popularity of cycling sports.

Regional analysis
North America dominates the cyclocomputer market currently owing to rising health awareness and adoption of cycling as a hobby in countries like US and Canada. Europe is the second largest market led by countries such as Germany, France and UK. Asia Pacific is expected to be the fastest growing region due to increasing cycling culture and participation in countries such as China, India and Japan.

Key players
Key players operating in the cyclocomputer market are Garmin 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). The global market is highly consolidated with top players such as Garmin and CatEye holding a major share.




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