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Global Smart Bicycles Market: Drivers, Restraints, Opportunities, Trends and Forecast to 2023 - ResearchAndMarkets.com

November 9, 2018

DUBLIN--(BUSINESS WIRE)--Nov 9, 2018--The “Global Smart Bicycles Market: Drivers, Restraints, Opportunities, Trends, and Forecast up to 2023” report has been added to ResearchAndMarkets.com’s offering.

The Global Smart Bicycles Market Revenue to reach $416.4 Million by 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% during the forecast period to reach revenue of $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.

Market Dynamics

Drivers

Impact of Regulations Aimed at Sustainability Goals Rapid Urbanization Growing Demand for Multi-Modal Transit in Smart Cities

Restraints

Unplanned City Structure Technological Challenges

Opportunities

Evolution of New Modes of Transportation

Companies Featured

AT&T BCycle Beeline Giant Bicycles Google Huawei Mobike OFO Qualcomm Velospot Vodafone XBikes oBike

Key Topics Covered

1 Industry Outlook

2 Report Outline

3 Market Snapshot

4 Market Outlook

5 Market Characteristics

6 Component Types: Market Size and Analysis

7 Ride Sharing Types: Market Size and Analysis

8 Regions: Market Size and Analysis

9 Vendors Profiled

10 Companies to Watch for

11 Competitive Landscape

For more information about this report visit https://www.researchandmarkets.com/research/f262v4/global_smart?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20181109005251/en/

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Related Topics:Bikes and Cycling Equipment

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS SOFTWARE SPORTS BIKING/CYCLING

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 11/09/2018 07:28 AM/DISC: 11/09/2018 07:27 AM

http://www.businesswire.com/news/home/20181109005251/en

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