Global High-End Bicycle Market 2020-2024| Integration of Smart Features in High-End Bikes to Boost Growth| Technavio
LONDON--(BUSINESS WIRE)--Jan 13, 2020--
The high-end bicycle market size is poised to grow at a CAGR of almost 5% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global high-end bicycle market 2020-2024. (Graphic: Business Wire)
The cost-effective business model adopted by online stores is helping the e-commerce sector grow exponentially. For instance, the supply chain management of online stores is highly cost-effective as it eliminates the costs associated with marketing intermediaries. This allows online stores to offer products such bicycles at a lower price than retail outlets. Thus, vendors in the market are increasingly shifting toward the online distribution channel to sell high-end bicycles. Vendors are selling a wide range of bicycles through their websites as well as other third-party websites. Hence, the rapid growth of e-commerce is expected to drive the growth of the high-end bicycle market during the forecast period.
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As per Technavio, the smart features in high-end bikes will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
High-End Bicycle Market: Smart Features in High-End Bikes
The high-end bicycle market is undergoing significant technological advances. Vendors are developing ways to incorporate smart features in their existing range of bikes. Most e-bikes are being equipped with intelligent assistance that allows users to connect their bicycles with their smartphones. For instance, Argon 18 offers high-end bicycles that are considered smart bikes. These smart bikes comprise of 30 aerodynamic sensors and can calculate muscle oxygenation and lactic acid levels. These bicycles are incorporated with the ANT+ technology that connects with a Bluetooth device and enables Global Positioning System (GPS) tracking. Thus, the integration of smart features in high-end bikes will drive the growth of the high-end bicycle market during the forecast period.
“Other factors such as increasing concerns regarding health and fitness, and declining cost of lithium-ion batteries will have a significant impact on the growth of the high-end bicycle market during the forecast period,” says a senior analyst at Technavio.
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High-End Bicycle Market: Segmentation Analysis
This market research report segments the high-end bicycle market by geography (APAC, Europe, MEA, North America, and South America), distribution channel (offline and online), and product (hybrid bikes, mountain bikes, road bikes, track bikes, and others).
The North American region led the market in 2018, followed by Europe, APAC South America, and MEA respectively. During the forecast period, the North American region is expected to maintain its lead and register the highest incremental growth due to the presence of many vendors in the region and growth in disposable income.
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Five Forces Analysis
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INDUSTRY KEYWORD: SPORTS BIKING/CYCLING
SOURCE: Technavio Research
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PUB: 01/13/2020 08:00 AM/DISC: 01/13/2020 08:01 AM