Cyclocomputers are electronic devices that assist cyclists by computing and displaying trip information such as current speed, distance traveled, time elapsed, odometer, trip odometer readings and other useful data using sensors. They are useful for training and performance monitoring and allow cyclists to maximize the training impact of every ride. The growing popularity of cycling as a fitness activity along with technological advancements is driving the demand for advanced cyclocomputers.
The global Cyclocomputer Market is estimated to be valued at US$ 542.9 Mn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Connected systems is one of the major trends being witnessed in the cyclocomputer market. Earlier cyclocomputers were basic devices to track speed, distance and time but now modern units are integrated with GPS and wireless systems that allow cyclists to upload their ride data to apps, sync with other devices like phones and smartwatches wirelessly and share their rides online. Connectivity has enhanced the functionality of these devices and made them a vital component of the overall connected cycling ecosystem. With increased adoption of smart training and the ability to connect with other cycling tech and apps, the demand for high-end networked units is growing rapidly. This growing preference for linked cyclocomputers among fitness enthusiasts is expected to drive the market substantially over the forecast period.
Segment Analysis
The global cyclocomputer market is dominated by cyclocomputer targeted for road cycling which occupies over 65% of the total market share. Road cycling segment is dominating as it is most common type of cycling sport and recreational activity worldwide. Majority of cyclists use cyclocomputers for road cycling to track speed, distance, timings and other metrics to monitor performance over time.
Key Takeaways
The global Cyclocomputer Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 542.9 Mn in 2024 registering a CAGR of 4.8% during the forecast period.
Regional analysis
Europe currently dominates the global cyclocomputer market due to strong cycling culture and high participation in cycling activities like cycling tourism. Countries like Germany, France, Italy and Netherlands have large number of recreational as well as professional cyclists driving significant demand for cyclocomputers in the region. Asia Pacific is expected to be the fastest growing region during the forecast period led by growing health awareness, cycling infrastructure development and increasing participation in cycling events in countries like China, India and Japan.
Key players
Key players operating in the cyclocomputer market are Morita Corporation, Alpha Dent Implants Ltd., Shofu Dental Corporation, Coltene Group, 3M Company, Institut Straumann AG, Zimmer Biomet, Dentsply Sirona Inc., DiaDent Group International, and Essential Dental Systems Inc., among others. Morita Corporation holds leading market share in cyclocomputer sales majorly catering to road cycling segment with wide range of basic to advance feature cyclocomputers.
Explore more related article on this topic: https://www.newsanalyticspro.com/cyclocomputer-market-is-projected-to-driven-by-growing-popularity-of-cycling-as-fitness-activity/
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