Smart Bicycle Accessories Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Smart Helmets, Smart Gloves, Smart Locks, Smart Lights, Smarts Sensors, Smart Trackers, Others), By Application (Personal Use, Commuting, Fitness Training, Sports Competitions, Others), By Distribution Channel (Online, Offline), By Region & Competition, 2020-2030F

Market Overview

Global Smart Bicycle Accessories Market was valued at USD 1.89 Billion in 2024 and is expected to reach USD 4.11 Billion by 2030 with a CAGR of 13.88% during the forecast period. The Smart Bicycle Accessories Market is growing rapidly, fueled by increasing urbanization and a heightened focus on environmental sustainability. As cycling becomes a more popular eco-friendly mode of transportation, there is a rising demand for smart accessories like GPS trackers, smart locks, and fitness trackers. This shift is further driven by the growing fitness movement, with consumers looking to improve their cycling experience through technology that monitors performance and tracks routes. Moreover, advancements in connectivity and integration with mobile apps have made these smart accessories more attractive to consumers.

In 2023, Eco-Counter highlighted key trends and developments in cycling. Global cycling traffic saw a slight decline of 1%, but ridership still increased by 11% from 2019-2023. In the US, cycling volume grew by 1.7%, while commuter paths saw a 6.9% rise. Bicycle tourism in Europe remained robust, with EuroVelo routes experiencing an 11% increase in traffic. Eco-Counter expanded significantly, installing 3,500 new systems and counting 7.5 billion people globally. The Manhattan Bridge and Paris-Sébastopol sites were the most visited, and Eco-Counter launched new initiatives, including providing e-bikes to their staff.

Market Drivers

Increasing Demand for Connected and Smart Technologies

The growing interest in smart technologies and connected devices has significantly contributed to the expansion of the smart bicycle accessories market. Cyclists today are looking for products that offer more than just basic functionality, desiring integration with smartphones and other devices for a seamless experience. Smart accessories, such as GPS trackers, smart helmets with built-in communication systems, and fitness monitors, provide cyclists with real-time data about their performance, route tracking, and safety. The increasing adoption of the Internet of Things (IoT) technology plays a major role in the market’s growth, as IoT-enabled devices allow cyclists to monitor their health, track rides, and communicate more efficiently during cycling adventures. As people become more accustomed to technology in their daily lives, the demand for connected and smart accessories on bicycles grows. These technologies not only enhance the user experience but also improve safety by offering features like crash detection, real-time location sharing, and emergency notifications. For instance, In August 2024, Fizik, known for its cycling shoes and bike saddles, collaborated with Amani, a Kenyan cycling team, to supply gravel bike shoes. These shoes feature a lightweight woven mesh design, a single Li2 BOA for foot adjustment, and replaceable toe spikes.

Rising Popularity of Cycling for Fitness and Eco-Friendly Transport

Cycling has seen a resurgence in popularity due to a growing focus on fitness and sustainable transportation. As consumers become more health-conscious and environmentally aware, many are choosing cycling as a means of staying fit while reducing their carbon footprint. This shift toward cycling for fitness and eco-friendly transportation has led to increased demand for bicycles and cycling accessories. As cyclists look for ways to optimize their performance and track progress, smart bicycle accessories, such as heart rate monitors, power meters, and smart bike lights, are in higher demand. These accessories allow cyclists to track their workout metrics, monitor calorie burn, and analyze their training sessions. Additionally, the popularity of cycling as an alternative transportation method has encouraged the development of smart accessories that enhance safety, such as smart helmets and visibility lights with built-in indicators, which are becoming increasingly essential for urban cyclists. The combination of fitness-focused consumers and those seeking eco-friendly transportation solutions is creating a larger market for smart cycling products. As more individuals prioritize health and sustainability, the smart bicycle accessories market is poised for continued growth.

3. Advancements in Bicycle Safety Features

Bicycle safety remains a primary concern for cyclists, especially in urban environments. As the number of cyclists on the roads continues to rise, so does the need for accessories that enhance rider safety. This has driven innovations in smart bicycle accessories, including smart helmets, bike lights, and anti-theft devices. Smart helmets, for example, now come equipped with features such as built-in rearview cameras, crash detection sensors, and communication systems that allow riders to stay connected with others or emergency services in case of an accident. Additionally, smart bike lights with automatic sensors that adjust based on the ambient light or that signal turns through indicators are becoming increasingly popular. These safety features not only improve visibility and reduce the likelihood of accidents but also help to alert drivers to the presence of cyclists, especially in low-light conditions. Anti-theft technology, such as GPS-enabled bike locks and trackers, further adds to the sense of security for bike owners. With growing concerns about cycling safety, especially in urban areas, the demand for these advanced safety accessories is expected to continue rising. As a result, advancements in bicycle safety features are one of the major drivers fueling the growth of the smart bicycle accessories market.

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Key Market Challenges

High Cost of Smart Bicycle Accessories

One of the primary challenges in the smart bicycle accessories market is the high cost of these products compared to traditional cycling accessories. While many cyclists are attracted to the advanced features and convenience offered by smart accessories, the premium pricing of these products can be a significant barrier, particularly for casual cyclists or those on a budget. Smart bicycle accessories, such as GPS trackers, smart helmets, and performance monitoring devices, often come with sophisticated technology, which drives up production costs and, in turn, the retail price. As a result, not all consumers are willing to invest in these high-priced items, especially when they feel the basic functionality of traditional accessories might be sufficient for their needs. Additionally, the relatively new nature of the market means that there is still limited competition, and the supply of these products is not as widespread as traditional bike gear, further contributing to high prices. Although technological advancements and economies of scale could reduce costs over time, the current pricing remains a significant hurdle for widespread adoption. For the smart bicycle accessories market to grow, manufacturers will need to find ways to make these products more affordable while maintaining quality and innovation.

Limited Awareness and Adoption Among Cyclists

While the smart bicycle accessories market is growing, a significant challenge is the limited awareness and adoption of these advanced products, especially among less tech-savvy cyclists. Many casual cyclists and newcomers to the sport may not be fully aware of the benefits of smart accessories or may be hesitant to embrace new technologies. Traditional cycling accessories like basic helmets, lights, and water bottles are seen as sufficient for everyday riders, making it difficult for manufacturers to convince them to upgrade to smart alternatives. Moreover, some cyclists may be reluctant to adopt technology in their cycling gear, either due to concerns about the reliability of new devices or a lack of understanding of how these products can enhance their experience. Additionally, there is often a gap in marketing and education, as some companies fail to effectively communicate the value proposition of smart accessories. To overcome this challenge, manufacturers must invest in educating consumers about the benefits of smart technology, such as improved safety, performance tracking, and enhanced convenience. By raising awareness and showcasing the advantages of smart cycling gear, companies can drive greater adoption among cyclists of all levels, from casual riders to professionals.

Key Market Trends

Integration of Smart Technology for Enhanced Cycling Experience

One of the most significant trends in the smart bicycle accessories market is the increasing integration of advanced smart technology to enhance the overall cycling experience. This trend includes the development of smart helmets, smart bike lights, GPS trackers, and performance-monitoring devices that connect seamlessly to mobile apps, offering cyclists real-time data and analytics about their ride. Smart helmets, for example, often come equipped with Bluetooth connectivity, allowing cyclists to listen to music, take calls, or get navigation instructions through voice prompts. Additionally, bike lights with smart sensors can adjust their brightness based on the surrounding environment, improving visibility and safety. The integration of these technologies not only offers cyclists more convenience but also makes their rides safer, more enjoyable, and more connected. For example, cyclists can track their fitness data such as speed, cadence, distance, and calories burned through integrated apps, which is particularly beneficial for performance-driven individuals. As technology continues to evolve, more smart accessories will be developed, allowing for enhanced interconnectivity and an increasingly seamless cycling experience.

Focus on Safety Features and Smart Wearables

Safety continues to be a top priority for cyclists, which has led to an increase in the demand for smart bicycle accessories designed specifically to enhance safety. There is a growing trend of incorporating advanced safety features into smart bicycle accessories, such as helmets, bike lights, and wearables. For example, smart helmets now come equipped with built-in sensors that detect a crash and can alert emergency contacts or services. Additionally, smart wearables like reflective jackets or wristbands are being developed with integrated lights or signals that improve visibility, especially during night rides. These accessories also often come with features such as turn signal indicators or proximity sensors to warn cyclists about vehicles or obstacles nearby, significantly reducing the risk of accidents. The rise in urban cycling, where cyclists often share roads with motor vehicles, has heightened the need for smart accessories that improve safety. Consumers are more inclined to invest in such products due to the added security they offer, particularly in high-traffic areas. With advancements in sensor technology, connectivity, and smart alerts, the trend of integrating safety features into cycling accessories is expected to grow, providing cyclists with enhanced protection and peace of mind on the road.

Increasing Popularity of E-Commerce for Purchasing Cycling Gear

The growth of e-commerce has significantly impacted the smart bicycle accessories market. With the increasing popularity of online shopping, more cyclists are turning to digital platforms to purchase their cycling gear. E-commerce allows consumers to explore a wide variety of smart bicycle accessories, compare prices, read reviews, and make informed decisions from the comfort of their homes. Moreover, online platforms often offer better pricing, exclusive deals, and convenient delivery services, making it easier for consumers to access products that might not be available in their local stores. The rise of direct-to-consumer sales by brands, where manufacturers sell their products through their own websites or third-party platforms, is also contributing to the market's growth. This approach allows companies to offer personalized customer service, faster delivery, and often, a more competitive pricing structure. Additionally, e-commerce platforms enable brands to leverage data analytics, offering insights into customer preferences and behaviors, which helps manufacturers improve their products and marketing strategies. The trend toward online shopping is expected to continue expanding as more consumers, particularly younger and tech-savvy riders, prefer the convenience and accessibility that e-commerce offers.

Segmental Insights

Product Type Insights

In the Smart Bicycle Accessories Market, smart lights have emerged as the dominant product category, largely due to their crucial role in enhancing cyclist safety and visibility, especially during night rides or in low-light conditions. These lights offer several advanced features that go beyond traditional bike lights, including automatic brightness adjustment based on ambient light, turn signal indicators for better communication with drivers, and built-in sensors that detect motion and automatically turn the lights on or off. Many smart lights also offer Bluetooth connectivity, allowing cyclists to control their lighting settings via a mobile app, making them more user-friendly and customizable. The growing concern for cyclist safety, particularly in urban areas where biking is becoming more popular, has further fueled the demand for smart lights. These lights improve visibility not only for the cyclists but also for other road users, helping to prevent accidents and ensuring a safer ride. Additionally, the incorporation of rechargeable batteries and energy-efficient LEDs in these lights has made them more sustainable, adding to their appeal. As cities continue to become more bicycle-friendly and cycling gains popularity as a mode of transportation, the demand for smart lights is expected to remain strong. Their integration with other smart accessories and the increasing focus on connected, safety-oriented technology further strengthens their position as the dominant segment in the market.

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Regional Insights

North America was the largest region in the Smart Bicycle Accessories Market, driven by a combination of factors such as the growing popularity of cycling, a strong focus on cycling safety, and increasing technological adoption. In North America, particularly in countries like the United States and Canada, cycling has gained significant traction both as a recreational activity and as a sustainable mode of transportation. As more cyclists take to the roads, the demand for smart bicycle accessories, such as smart helmets, smart lights, and performance trackers, has surged. The emphasis on road safety is another key factor driving the growth of this market in North America. With an increasing number of cyclists sharing road space with motor vehicles, the need for visibility and protective gear is crucial. This has led to greater adoption of smart accessories that enhance safety, such as smart lights, which are particularly popular for night riders. Furthermore, the region has seen significant advancements in bicycle technology, and North American consumers are highly receptive to innovation. The convenience and customizability offered by smart accessories have led to their widespread use among cycling enthusiasts. Additionally, the region's well-established e-commerce infrastructure has facilitated easy access to these products, further driving market growth. As cycling continues to grow in popularity, the Smart Bicycle Accessories Market in North America is expected to maintain its dominance in the coming years.

Recent Developments

• In 2023, Garmin Ltd. unveiled its new GPS-based bike computers, the Edge 540 and Edge 840. By investing in research and development, the company is enhancing its competitive advantage and staying aligned with customer needs.
• Jio is set to revolutionize urban transportation in India with its electric bicycle, planned for release in 2025. Designed for affordability, it targets students and daily commuters, offering a range of up to 80 kilometers per charge. The bicycle features a weather-resistant display, GPS navigation, and smartphone connectivity through a dedicated app. It also includes advanced battery management, regenerative braking technology, and various intelligent power assistance modes. Security features include GPS tracking and remote immobilization in case of theft.
• In 2023, UNIT 1 has launched the AURA Smart Cycling System, designed to enhance safety for cyclists and riders. This system integrates four products: a Hybrid Smart Helmet, Smart Lights, a Navigation Remote, and a Mobile App. The system works together to improve rider visibility and predictability, crucial for urban and road cyclists. Features include crash detection, turn signals, brake lights, and smart lighting with magnetic mounts. The products can be controlled via the UNIT 1 app, offering energy management, crash detection, and device customization.
• In 2024, Ather Energy unveiled the "Ather Halo," a smart accessory, during its Community Day event. The Halo is expected to be a smart helmet featuring Bluetooth connectivity and a heads-up display, which could provide navigation and scooter speed details. This advanced accessory aims to add a sci-fi touch to the riding experience. Additionally, Ather will reveal its new electric scooter, the Rizta, which promises a spacious design, new motor, and battery platform. The company will also launch its most comprehensive OTA update, Atherstack 6, which will include new features like a dashboard messaging system and proximity lock/unlock.

Key Market Players

• Garmin Ltd.
• Polar Electro
• Pioneer Corporation
• Assize Technology Co., Ltd.
• Robert Bosch GmbH
• Sena Technologies, Inc.
• Linka, LIVALL
• Vanhawks Inc.
• Pioneer Corporation
• Wuhan Qiwu Technology Co., Ltd.

Report Scope:

In this report, the global Smart Bicycle Accessories Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

•  Smart Bicycle Accessories Market, By Type:

o   Smart Helmets

o   Smart Gloves

o   Smart Locks

o   Smart Lights

o   Smarts Sensors

o   Smart Trackers

o   Others       

•         Smart Bicycle Accessories Market, By Application:

o   Personal Use

o   Commuting

o   Fitness Training

o   Sports Competitions

o   Others

•         Smart Bicycle Accessories Market, By Distribution Channel:

o   Online

o   Offline

•          Smart Bicycle Accessories Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  Germany

§  Spain

§  Italy

§  United Kingdom

o   Asia-Pacific

§  China

§  Japan

§  India

§  Vietnam

§  South Korea

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Turkey

§  Kuwait

§  Egypt

o   South America

§  Brazil

§  Argentina

§  Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the global Smart Bicycle Accessories Market.

Available Customizations:

Global Smart Bicycle Accessories Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).