April 18, 2024
Cyclocomputer Market

The Cyclocomputer Market is trending towards Connectivity by increasing adoption of IoT technology

The Cyclocomputer market comprises devices that help cyclists monitor speed, distance, time duration and other metrics. Cyclocomputers improve cycling experiences through precise measurement and analysis of ride stats. They are compact devices that attach to bicycle handlebars and sync with fitness apps and devices through wireless connectivity.

The Global Cyclocomputer Market is estimated to be valued at US$ 625.43 Bn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2031.

Key players operating in the Cyclocomputer Market Size 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. The increasing health awareness and popularity of cycling as an exercising activity have fueled the demand for cyclocomputers in recent years. Advancements in smart gadgets and IoT technology are further driving the adoption of connected cyclocomputers with interactive interfaces.

Key Takeaways

Key players: Morita Corporation is a leading player specializing in compact cyclocomputers. Alpha Dent Implants Ltd. offers premium cyclocomputers with advanced sensors and widgets. Shofu Dental Corporation and Coltene Group are established players focusing on wireless connectivity features.

Growing demand: The rising health consciousness, especially after COVID-19, has boosted outdoor cycling activities worldwide. Cyclocomputers catering to recreational as well as professional cycling needs are witnessing higher demand.

Global expansion: Major players are expanding their international footprint through strategic partnerships and acquisitions. The market is witnessing new entrants from Asian countries offering affordable IoT-enabled cyclocomputers.

Market key trends
The adoption of IoT and cloud connectivity in cyclocomputers is a major trend. Devices can now sync ride data like speed, distance, heart rate etc in real-time with fitness apps on smartphones. This allows post-ride analysis and comparisons. Cloud storage of long-term ride stats is facilitating health trends analysis. Furthermore, integration of AI and gesture control is enhancing cyclocomputer interfaces. Voice command features are gaining traction especially for highway use.

Porter’s Analysis
Threat of new entrants: New companies can enter the market easily as the initial set up cost is low but established brands have an advantage.

Bargaining power of buyers: Buyers have moderate bargaining power as there are many established brands to choose from and the products are differentiated.

Bargaining power of suppliers: A few component suppliers exist so their bargaining power is moderate.

Threat of new substitutes: Alternatives like GPS watches exist but don’t provide the same level of cycling specific data so threat is low.

Competitive rivalry: Intense as the major players aggressively compete on features, technology, pricing and partnerships.

Geographical regions
North America currently holds the major share of the cyclocomputer market in terms of value due to high cycling participation rates and consumer spending power in the US and Canada.

Asia Pacific region is poised to grow at the fastest pace till 2030. This can be attributed to increasing health awareness, rapid urbanisation and economic growth in countries like China and India which is driving the sales of bicycles and associated gear.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it