Smart Bike Market is Expected to Rise at a High CAGR of 21.5% and Industry by Global Trend Analysis, Size, Share, Demand Status, Revenue Expectation to 2028

PRESS RELEASE
Published February 23, 2023

Premium Market Insights Analyst have added a new research study on Title Global Smart Bike Market Size, Share, Industry Trends and Forecast 2028- COVID-19 Impact and Global Analysis – By Connectivity (Bluetooth and Wi-Fi), Handle Type (Fixed Handle Type and Moving Handle Type), And Application (Residential and Commercial),” the market is projected to reach US$ 26,295.33 million by 2028, growing at a CAGR of 21.5% from 2022 to 2028. This report covers the growth opportunities and the limiting factors of the Smart Bike market. Smart Bike market size report contains growth rate, revenue, segmentation with product type, application, end-users, regions, manufacturers, and more. The Study also provides in-depth comprehensive analysis for regional segments that covers North America, Europe, Asia-Pacific, Middle East and Africa and Rest of World with Global Outlook and includes Clear Market definitions, classifications, manufacturing processes, cost structures, development policies and plans.

 

Click to Get Smart Bike Market Research Sample PDF Copy @ https://www.premiummarketinsights.com/sample/TIP00073669

 

Global Smart Bike Market Research report is a professional and in-depth study on the market size, growth, share, trends, as well as industry analysis. It helps to analyses the global key players, SWOT analysis, value and global market share for top players. To prosper in this rapidly transforming marketplace, today’s businesses call for innovative and superlative solutions. By efficiently using technology, innovative applications and expertise, this Smart Bike Market research report has been prepared which effectively manages large and complex market data tables. To achieve the desired success in business, this market report plays a significant role.

Smart Bike Market: Competitive Landscape and Key Developments

  • Echelon Fitness Multimedia, LLC.
  • Garmin Ltd.
  • Keiser Corporation
  • Life Fitness
  • Nautilus, Inc.
  • Peloton Interactive, Inc.
  • Wahoo Fitness
  • Johnson Health Tech
  • MAD DOGG ATHLETICS
  • SOLE FITNESS
  • ….

The demand for smart bikes in the market significantly increased during the COVID-19 crisis as fitness enthusiasts resorted to exercising at home. To provide convenience, smart bike market players upgraded their products. For instance, in November 2021, Muoverti launched a TiltBike, enabling riders to balance and steer, accelerate and brake, and fully engage their body to simulate the riding experience. Similarly, other manufacturers have developed smart bikes to provide riders with a significant outdoor riding experience while being indoors. A few of these bikes are Wattbike, Flexbike, PowerMax BS-130, and Joroto Indoor Cycle. Joroto Indoor Cycle is a fully adjustable bike with a 2-way adjustable handlebar and 4-way adjustable seat. It also has an easy-read digital monitor to track workout data, such as workout time, RPM, distance, speed, and calories burned.

In addition, market players have launched various new software applications to enhance user experience. For instance, Zwift allows indoor cyclists to join group rides where they can measure and compare their track records with other users. Also, it has a feature of messaging others, thus helping interact with other users. Moreover, Bowflex offers Netflix, Disney Plus, and HBOMax, among other things, keeping the rider engaged while doing the workout. Thus, the rising demand for technologically advanced smart bikes is expected to boost the smart bike market growth during the forecast period.

Smart Bike Market Segmentation:

By Connectivity (Bluetooth And Wi-Fi)

By Handle Type (Fixed Handle Type And Moving Handle Type)

By Application (Residential And Commercial)

 

Inquire or Share Your Questions If Any Before the Purchasing This Report @ https://www.premiummarketinsights.com/inquiry/TIP00073669

 

Impact of COVID-19 Pandemic on Smart Bike Market Growth

The limitations imposed by governments to control the spread of COVID-19 during the initial time frame of the outbreak in most countries affected the lifestyle of most consumers. Stringent restrictions and supply chain disruptions put most consumers in jeopardy. Similar situations were witnessed across most countries across all regions. Due to travel restrictions and business shutdowns in the wake of COVID-19 crisis, people were compelled to stay indoors. There is speculation that the work-at-home modality is expected to become the new normal for many people in the near future. Such factors strongly promoted the usage of smart bikes, as people used the same to remain fit and maintain their health. This led to a sudden demand for smart bikes and associated apps. Such factors provided great opportunities for smart bike market players to grow. However, the market witnessed a steep decline in the first quarter of 2022, owing to the reopening of offices and gyms. Despite the same, the outlook for the smart bike market in the post-COVID-19 scenario seems favorable for most market players.

China accounts for the largest share in the smart bike market in Asia Pacific, followed by Japan and Australia. China’s smart bike market is one of the fastest in the world and among the leading manufacturers of smart bikes in the world. Far outpacing other economies, China is the world’s fastest-growing consumer of goods and services. Despite the positive outlook, the penetration rate of smart bikes is relatively low. However, it is changing fast. The Chinese economy maintains high-speed growth which has been stimulated by the consecutive increases in smart bike output, imports & exports, consumer consumption and capital investment for over decades in the smart bike market. The healthy economic conditions have been promoting the spending capacity of Chinese consumers, which is again aiding the smart bike market growth. In Australia, penetration rates across all age groups in the gym, fitness clubs, sports clubs, and others increased significantly, thereby aiding the smart bike market. Further, the Government of Australia launched a new campaign ‘Move It AUS,’ in 2018 to encourage Australians of all backgrounds, ages, and abilities to become physically active. The campaign engages Australian adults to find at least 30 minutes of physical activity per day. This campaign resulted in the increasing demand for smart bikes for residential applications.

 

Buy Single User PDF and explore latest findings of Smart Bike Market Study @ https://www.premiummarketinsights.com/buy/TIP00073669

 

The smart bike market, by application, is segmented into residential and commerical. Nowadays, an increase in the frequency of chronic lifestyle illnesses, combined with rising health consciousness among individuals worldwide, is regarded as one of the primary reasons driving the smart bike market expansion in residential. Additionally, since features of a smart bike can be best enjoyed through a subscription to associated apps, residential application of smart bikes is rising faster. Subscription includes entering personal data, which is often not possible inside a commercial establishment. Such factors strongly promoted the growth of this segment. The pandemic boosted the growth of this segment by unprecedented levels, as people spent more time indoors during temporary lockdowns.

The report answers questions such as:

  1. What is the market size and forecast of the Global Smart Bike Market?
  2. What are the inhibiting factors and impact of COVID-19 shaping the Global Smart Bike Market during the forecast period?
  3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Smart Bike Market?
  4. What is the competitive strategic window for opportunities in the Global Smart Bike Market?
  5. What are the technology trends and regulatory frameworks in the Global Smart Bike Market?
  6. What is the market share of the leading vendors in the Global Smart Bike Market?
  7. What modes and strategic moves are considered suitable for entering the Global Smart Bike Market?

Thanks for reading Smart Bike research article; you can also get individual chapter wise section or region wise report version like LATAM, North America, MENA.

About Us:

Premium Market Insights is a one stop shop of market research reports and solutions to various companies across the globe. We help our clients in their decision support system by helping them choose most relevant and cost-effective research reports and solutions from various publishers.

The market research industry has changed in last decade. As corporate focus has shifted to niche markets and emerging countries, a number of publishers have stepped in to fulfil these information needs. We have experienced and trained staff that helps you navigate different options and lets you choose best research solution at most effective cost.

Premium Market Insights has an extensive coverage of industry reports, company reports and country reports across all industries. In case your research needs are not met by syndicated reports offered by leading publishers, we can help you by offering a customized research solution by liaising with different research agencies saving your valuable time and money.

We provide best in class customer service and our customer support team is always available to help you on your research queries. Our commitment to customer service is best exemplified by free analyst support that we offer to our clients which sets us apart from any other provider. We also offer enterprise subscriptions which provide significant cost savings to our clients.

Contact Us:

If you have any queries pertaining to the report or would like further information, feel free to reach out to us at-

Contact Person: Sameer Joshi

E-mail: sales@premiummarketinsights.com

Phone: +1-646-491-9876

Newsmantraa