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Global Smart Bicycles Market: Drivers, Restraints, Opportunities, Trends, and Forecast up to 2023
The regulatory push for low carbon emission transit, increasing demand for multi-modal transportation in smart cities, and rapid urbanization in smart cities are fostering the need for smart bicycles. These bicycles are being used as a personal vehicle as well as an on-demand transit mode.
The global smart bicycles market is segmented by components and by ride-sharing services. The components covered in the report include e-Bike Lock, Anti-theft Features, Smart Bike Monitoring System, Custom Sensors, and Battery. On an average, a smart bicycle owner would have spent over 12% of the cost of the vehicle to enable smart components on it. The e-Bike Lock system is expected to grow at a CAGR of 8.0% during the forecast period to reach revenue of USD 123.1 million by 2023. This segment has witnessed the failure of smart locking technology from leading dockless bike sharing vendors. The companies such as Vodafone, AT&T, Huawei, and Qualcomm are focused on e-Bike locking devices and anti-theft components.
The ride-sharing services include dockless, docked, and hybrid. The dockless bicycle sharing is popularly used across regions because of the vast Chinese dockless ride-sharing service providers, bringing Chinese manufactured low-cost bicycles in their areas of operations. Due to this, the cost per ride has significantly reduced in Europe and North American countries. However, these companies have failed to protect their vehicles from being misused and theft, which has resulted in the closure of their operations in few of the important cities. However, the dock-based and hybrid ride sharing models significantly focus on vehicle protection and safety, despite the high cost of the ride.
The Americas and Europe are most likely to hold a significant share in the smart bicycles market. The Americas is expected to remain as a leading adopter of smart bicycles services through 2023, with a CAGR of 4% during the forecast period. Asia is expected to become the third largest market for smart bicycles, primarily due to the increasing demand from China, India, Japan, and South Korea.
The report provides details about the global smart bicycles market. The report also contains an in-depth analysis of vendors profile, which includes financial health, business units, key business priorities, SWOT, strategies, and views, and competitive landscape. The companies included in the report are Google, Mobike, OFO, Giant Bicycles, Beeline, oBike, Velospot, XBikes, and BCycle.
Table of Contents
1 Industry Outlook
1.1 Industry Overview
1.2 Industry Trends
1.3 PEST Analysis
2 Report Outline
2.1 Report Scope
2.2 Report Summary
2.3 Research Methodology
2.4 Report Assumptions
3 Market Snapshot
3.1 Total Addressable Market
3.2 Segmented Addressable Market
4 Market Outlook
4.2 Porter 5 (Five) Forces
5 Market Characteristics
5.3 Market Segmentation
5.4 Market Dynamics
220.127.116.11 Impact of regulations aimed at sustainability goals
18.104.22.168 Rapid urbanization
22.214.171.124 Growing demand for multi-modal transit in smart cities
126.96.36.199 Unplanned city structure
188.8.131.52 Technological challenges
184.108.40.206 Evolution of new modes of transportation
5.5 DRO-Impact Analysis
5.6 Market Trends
6 Component Types: Market Size and Analysis
6.2 e-Bike Lock
6.3 Anti-Theft Features
6.4 Smart Bike Monitoring System
6.5 Custom Sensors
7 Ride Sharing Types: Market Size and Analysis
7.2 Dock less
8 Regions: Market Size and Analysis
Google, Mobike, OFO, Giant Bicycles, Beeline, oBike, Velospot, XBikes, and BCycle.
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