CYCLOCOMPUTER MARKET ANALYSIS

Cyclocomputer Market Size and Trends

The cyclocomputer market is estimated to be valued at USD 585.9 million in 2024 and is expected to reach USD 998.9 million by 2031, growing at a compound annual growth rate (CAGR) of 7.9% from 2024 to 2031.

Cyclocomputer sales have been rising in the recent past years owing to increasing popularity of cycling activities.

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More and more people have taken up cycling for fitness, recreation, and commuting. This has generated a strong demand for cyclocomputers which help track metrics like speed, distance covered, route navigation, etc. Further, the incorporation of advanced features like heart rate monitoring, voice guidance, and smartphone connectivity in modern cyclocomputers is attracting both amateur and professional cyclists. With growing health and fitness consciousness, the market for cyclocomputers is expected to continue its positive run over the next few years.

Rising popularity of cycling

The demand for cyclocomputers have been on a steady rise over the past few years owing to the growing popularity of cycling, both as a sport and as a lifestyle activity. An increasing number of people across demographics have taken interest in cycling for health, fitness, recreation and commute purposes. With cities becoming more congested and polluted, cycling offers a viable alternative for many to cover short to medium distances within urban localities. Several public initiatives around city infrastructure and road safety improvements have also motivated more individuals to consider cycling.

According to U.S.A Cycling, which is a official governing body for all disciplines of competitive cycling in the United States, in 2022, total membership figures equaled those of 2019, with adult race memberships experiencing a 7% rise as compared to 2021. Looking ahead to 2023, they predict an overall membership increase of 4%, and adult race memberships are expected to further surge by 13% compared to 2022.

Staying fit and focusing on health have become dominant themes of our times. With insane work pressure and stressful lifestyles, preventive healthcare through exercise and activity tracking has gained supreme importance. Cycling presents an accessible and effective option to achieve fitness goals and burn calories. At the same time, the desire to closely monitor one's fitness metrics and progress has been amplified by the prevailing health and wellness trend. Cyclocomputers perfectly align with this imperative, allowing cyclists to diligently log vital signs like heart rate, power, speed, etc. and establish benchmarks.

Increasing focus on fitness and health consciousness is driving the demand for cyclocomputers. Many cyclists are interested in monitoring their performance, tracking their workouts, and analyzing data that are related to their cycling activities. Cyclocomputers provide real-time information such as speed, distance, heart rate, and calories burned, thereby allowing cyclists to optimize their training, set targets, and measure their progress towards fitness goals.

According to the National Library of Medicine, in 2022, models indicate that the quantity of health and fitness apps available on the IOS app Marketsurpassed the anticipated growth rate by 29.9% post-pandemic.