Smart Bicycle Accessories Market

Smart Bicycle Accessories Market Study by Smart Helmets, Smart Gloves, Smart Locks, Smart Lights, Smart Sensors, Smart Bicycle Computers & Navigators, and Smart Power Meters from 2024 to 2034

Analysis of Smart Bicycle Accessories Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Smart Bicycle Accessories Market Outlook (2024 to 2034)

A recent industry analysis done by Fact.MR reveals that the global smart bicycle accessories market will reach a value of US$ 1.61 billion in 2024 and is projected to further expand at a CAGR of 9.2% to climb to US$ 3.89 billion by the end of 2034.

A bicycle attachment aimed at improving performance and functionality, typically equipped with Bluetooth or other connectivity features, is referred to as a smart bicycle accessory. These accessories encompass a range of tools designed to enhance safety and self-sufficiency during cycling journeys. They are particularly beneficial for professional cyclists, aiding in efficiency improvement and race or training safety.

The integration of GPS technology into bicycles represents a notable advancement in the market with the emergence of bike phone holders. Augmented reality displays are projected to offer real-time data and information in the future.

  • Recently, Nordic Semiconductor launched the world’s first Narrowband-Internet of Things (NB-IOT) cycle security tracker, which locates and protects cycles.
Report Attributes Details
Smart Bicycle Accessories Market Size (2023A) US$ 1.48 Billion
Estimated Market Value (2024E) US$ 1.61 Billion
Forecasted Market Value (2034F) US$ 3.89 Billion
Global Market Growth Rate
(2024 to 2034)
9.2% CAGR
China Market Size (2023A) US$ 495.9 Million
United States Market Growth
(2024 to 2034)
8.3% CAGR
Key Companies Profiled
  • Garmin Ltd.
  • Pioneer Corp.
  • Polar Electro
  • LIVALL
  • Sena
  • Robert Bosch
  • Cobi Bike
  • Vanhawks Inc.
  • Sigma Sport
  • iGSPORT/Wuhan Qiwu Technology Company
  • Assize Technology Co., Ltd.
  • VDO Cycle Computing / Cycle Parts GmbH
  • Others

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Which Smart Bicycle Accessories Market Trends are Manufacturers Eyeing to Gain Profits?

“Rapid Product Technological Advancements”

GPS-enabled bicycle computers and navigation devices provide cyclists with accurate mapping, turn-by-turn directions, and route planning features. These devices also track metrics such as speed, distance, elevation, and route history, enhancing navigation and exploration capabilities.

  • Garmin introduced the Edge 1040 GPS bike computer with solar charging and multi-band GNSS technology. It features an intercom for calls and speakers, breathable smart gloves for cold weather, touch-sensitive nonslip palms, an adaptive bike light, and a Bluetooth smart lock for enhanced bicycle security.

Customizing accessories becomes seamless with AI and IoT integration, enabling connectivity among bicycles, smartphones, and other devices. AI algorithms offer personalized insights, optimizing performance and safety based on user data and environmental factors.

Manufacturers are utilizing lightweight materials, thereby improving the speed for riders. Technological advancements significantly influence cycling cultures and contribute to the expansion of the smart bicycle accessory market size.

“Need to Reduce Vulnerability of Cyclists to Accidents in Low-visibility Conditions”

Cyclists are investing heavily in ensuring safety and security, as they are more vulnerable to accidents at night. Lack of visibility is the main reason for accidents involving cyclists. Smart bike lights, such as LED lights on wheel rims for enhanced visibility and smart helmets with automated brake lights and turn signals, improve safety by improving communication with motorists. All these factors are projected to lead to electric bike accessories market growth.

“Government Initiatives Promoting Cycling as Sustainable Transportation Alternative”

Due to rising concerns about air pollution and traffic congestion, governments of developed countries are promoting sustainable and environmentally friendly alternatives to vehicles, such as cycling. Schemes like 'cycle to work' have been promoted by the governments of the United Kingdom, the Netherlands, Italy, France, and Belgium.

Proper cycling infrastructure is being provided for the successful implementation of these schemes. The United Kingdom is offering bicycles to employees at a discounted price. The government has begun providing subsidies of up to US$ 1,000 for the purchase of bicycle accessories. These initiatives are raising awareness among citizens, resulting in a rise in demand for smart bicycle accessories.

  • According to the European Commission, bicycle production in the EU reached 14.7 million units in 2022, marking a 29% increase compared to levels in 2012.

What are the Obstacles Faced by Manufacturers of Smart Bicycle Accessories?

“Cybersecurity Threats Limiting Smart Bicycle Accessories Market Growth"

With the increasing connectivity of smart bicycle accessories to the internet and other devices, cybersecurity threats become a significant concern. Malicious actors could exploit vulnerabilities in software or hardware components to access personal data, compromise device functionality, or even cause safety hazards. Ensuring robust cybersecurity measures and regularly updating software to address vulnerabilities are crucial to mitigating this threat.

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Country-wise Insights

Why is China a Key Manufacturers of Smart Bicycle Accessories?

“Focus on Construction of Dedicated Cycling Infrastructure”

China is estimated to hold 70% smart bicycle accessories market share in East Asia in 2024. China is known as the 'Kingdom of Bicycles'. The Chinese Ministry of Housing and Urban-Rural Development promotes the construction of urban bicycle and pedestrian transportation systems to build cycle-friendly cities. In Beijing, in 2019, a 6.5 km long cycling-only road named as “bicycle highway” was opened. For the past couple of years, China has been facing the issues of rising air pollution levels and traffic congestion. The frequent conflict between cyclists and motorists creates the need for smart accessories in China.

  • According to the Chinese Cycling Association, more than 20 million people will participate in cycling in 2022. This growing popularity of cycling will also improve the demand for smart bicycle accessories.

What are the Factors Driving Demand for Smart Bicycle Accessories in the Netherlands?

“Robust Cycling Culture and Vast Network of Bicycle Tracks”

The Netherlands is known for its cycling culture, as it is the only country that has a greater number of bicycles than its population. Bicycles are used as a replacement for public transport and passenger cars. The country has a 35,000 km bicycle track. Also, the government supports cycling commuting by providing bicycles to children from poor families.

Good-quality bicycles are made available at train stations. This impressive infrastructure and government policies encourage people to use bicycles. Start-ups are emerging in the country in the e-bike domain.

  • UNIT 1 is one such start-up that designs and manufactures smart helmets. FARO Helmet is a well-known product from the company, specially designed to effectively protect the rider in the event of crashes.

Category-wise Insights

Why is Adoption of Smart Helmets Gaining Traction?

"Lightweight Design, Stylish Appearance, and Safety Features of Smart Helmets"

Global demand for smart helmets is estimated at a market value of US$ 444.9 million in 2024 and is projected to reach a valuation of US$ 1.06 billion, increasing at a 9% CAGR over the next ten years.

The stylish appearance of smart bicycle helmets, in addition to ensuring the safety of the cyclist's head, is a key factor that attracts customers. Bicycle helmets are lightweight with perfect fittings to comfort the wearer. Features like location tracking, smart safety lights, turn signals, and action cameras make the cyclist's journey easier and safer.

Cycling at night is challenging, but integrated LED lights in helmets enhance visibility, keeping cyclists safe during night rides and letting other traffic participants anticipate their next move. Bluetooth connectivity, speakers, and heart rate measurement and speed tracking are now feasible due to technological advancements. Demand for smart bicycle helmets is driven by a combination of advanced technology, integrated communication systems enabling hands-free calls during rides, and real-time performance data tracking for cyclists.

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

Competition Analysis

Garmin Ltd., Sigma Sport, Linka, and Robert Bosch GmbH are key players in the smart bicycle accessories industry. Manufacturers are constantly launching new and innovative products such as e-bike conversion kits, bike handlebar bags, portable bike pumps, and various cycling safety lights for the benefit of riders.

  • On 11 May 2023, Garmin Ltd. announced the launch of GPS-based bike computers, Edge 540 & and Edge 840. The company is gaining a competitive edge by investing in R&D to stay relevant to its customers.
  • In 2019, the designer and manufacturer of indoor bike trainers, tools, and accessories such as smart bicycles and indoor training software, Tacx Onroerened En Roerend Goed, was acquired by Garmin Ltd. The motive was to leverage the outstanding expertise and skills of the Tacx team to provide seamless indoor and outdoor experiences for athletes year-round.
  • In 2017, Robert Bosch GmbH acquired COBI Bike GmbH to broaden its product portfolio in connected products and services. This strategic move aimed to develop an advanced connected e-bike system aligned with the changing preferences of e-bike riders.

Fact.MR has provided detailed information about the price points of key manufacturers of smart bicycle accessories positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Smart Bicycle Accessories Market Research

  • By Product :

    • Smart Helmets
    • Smart Gloves
    • Smart Locks
    • Smart Lights
    • Smarts Sensors
    • Smart Bicycle Computers & Navigators
    • Smart Power Meters
  • By Sales Channel :

    • Offline
    • Online
  • By Region :

    • North America
    • Latin America
    • Western Europe
    • Eastern Europe
    • East Asia
    • South Asia & Pacific
    • Middle East & Africa

- FAQs -

What is the valuation of the smart bicycle accessories market in 2024?

The global smart bicycle accessories market, as reported by Fact.MR, is valued at US$ 1.61 billion in 2024.

What is the sales forecast for smart bicycle accessories for 2034?

Sales of smart bicycle accessories are projected to reach US$ 3.89 billion by the end of 2034.

Which product is projected to occupy a leading share of the market by 2034?

Smart helmets are projected to occupy a leading market share by 2034.

What is the demand growth projection for smart helmets from 2024 to 2034?

Demand for smart helmets is projected to increase at a CAGR of 9% through 2034.

Who are the leading players operating in the market?

Leading manufacturers of smart bicycle accessories are Garmin Ltd., Sigma Sport, Linka, and Robert Bosch GmbH.

What are the projections for the market in the United States?

The market for smart bicycle products is forecasted to expand at 8.3% CAGR in the United States.

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