Smart Bicycle Market Size, Share and COVID-19 Impact Analysis, By Type (Conventional Bicycles and E-bikes), By Battery Type (Lead-Acid and Lithium-ion), By Connectivity (Bluetooth, Wi-Fi, and GPS) and Regional Forecast, 2025-2032

A smart bicycle is very much similar to that an E-bike. A smart bicycle is also a type of E-bicycle with additional features. E-bicycle and smart bicycles present similar rides regarding the fundamental experience with extra smart features to give the user additional insights and an enhanced riding experience.

The vehicle is equipped with smart features along with a technology-assisted motor. Other features include automatic electronic gear shifts, onboard alarms, and smart Tracking. These bicycles are equipped with sensors and intelligent modules that gather data made accessible for users to provide better insights into their riding patterns and history, thus elevating the overall riding experience of the users.

The demand for smart bicycles has grown exponentially in recent years due to the numerous features integrated into the bicycle to provide an enhanced riding experience for users. E-bicycle applications are no longer affiliated with exercising as many consumers can shift to smart bicycles over traditional bicycles due to numerous technological features, including automatic electronic gear shifts and assisted motors. This has led to wider awareness of smart bicycles among consumers, accelerating the efforts in the R&D of these vehicles.

The growing urban congestion and awareness regarding environmental concerns are driving factors that make consumers are shifting towards smart bicycles. These smart bicycles' advanced safety, security, and connectivity features fuel the market growth. Hence the manufacturers are constantly motivated to develop and integrate advanced technology systems to mitigate the demand.

Impact of COVID19 on Smart Bicycle

The pandemic introduced a temporary worldwide shutdown in many industry sectors. This temporary shutdown impacted various industries negatively, leading to revenue decline, loss of product sales, slowed production rate, unemployment, and many other severe impacts. This led to an economic downturn as the majority of the manufacturing facilities were suspended or working at half capacity.

The smart bicycle market witnessed a surging demand because the world's population was locked indoors. Additionally, with the curfews and very few gas stations being functional, the populace shifted towards alternative means for their essential transportation during the lockdown. The fitness enthusiast also shifted towards bicycles to maintain their lifestyle. All these factors accounted for a positive effect on the bicycle market, including smart bicycles.

The demand for smart bicycles and e-bikes continued post-pandemic as more consumers opted for smart bicycles due to increased awareness of the benefits of smart bicycles on the environment and personal well-being. For instance, in February 2023, A study from the University of Central Florida showed that nearly 14% of the respondents stated to rely on cycling out of 7,000 people across the U.S.

Key Insights

The report will cover the following key insights:

• Key Industry Developments – Mergers, Acquisitions, and Partnerships.
• Porter's Five Forces Analysis.
• SWOT Analysis.
• Technological Developments.
• Pricing Analysis.
• Impact of COVID-19 on the Smart Bicycle Market.

Segmentation

Regional Analysis

The Asia Pacific region is predicted to lead the Smart Bicycle market over the forecast period. The market's growth in Asia-Pacific is primarily as Taiwan is the primary hub for manufacturing E-bikes since the majority of the players hold their manufacturing facilities in this region. Additionally, due to the growing population in this region, the populace is opting for quicker and more compact solutions for their daily commuting. These factors account for the high demand for smart bicycles in Asia-Pacific.

Key Players Covered

The report includes the profiles of key players such as Giant Bicycles; SJ Electric Vehicles Pvt Ltd; MAHLE SmartBike System; Transworld E Cycles Pvt Ltd.; Oasis Autonic.; Cannondale; Fritz Jou Mfg. Co., Ltd.; Honbike; Hyena, Inc.; Hero Lectro and others.

Key Industry Developments

• December 2021: Hero Lectro launched its F6i smart electric e-cycle with a detachable battery. The bicycle features a 7-speed gearbox with lithium batteries and a rear hub motor, an iSmart app with smart connectivity Bluetooth devices and a USB charging port.