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The installed base of bicycle telematics systems in Europe and North America reached 1.7 million in 2023

According to a new market research report from the IoT analyst firm Berg Insight, the number of active bicycle telematics systems in Europe and North America will reach 3.9 million in 2028, up from 1.7 million active units in 2023.

The adoption of bicycle telematics systems has picked up speed in recent years. There are both aftermarket and OEM telematics solutions available on the market.

Martin Cederqvist, IoT Analyst at Berg Insight, said:

“The main use case for bicycle telematics systems is stolen vehicle tracking and theft prevention. Bicycle theft is a growing concern and millions of bicycles are stolen every year in Europe and North America. Telematics solutions have proved to be an effective measure for protecting bicycles”

Bicycle OEMs have also introduced services such as predictive maintenance and vehicle diagnostics, crash detection services, over-the-air software updates and connected navigation. Bicycle OEMs can use such services to differentiate their offering as well as improve the user experience. The main application for aftermarket bicycle telematics systems is stolen vehicle tracking and some solutions then also include stolen vehicle recovery services.

The market is also driven by the increasing uptake of electric bicycles, which are more costly compared to conventional bicycles. OEM telematics systems are usually integrated with the e-bike battery that can power the telematics device.

“Some insurance companies offer customers discounts on insurance premiums if the bicycles are equipped with an active telematics device with tracking capabilities. Telematics devices usually enable live tracking of the bicycle which increases the probability of finding the bicycle again if stolen, which is the reason why insurance companies are ready to offer lower premiums”, said Mr Cederqvist.

There are numerous of bicycle OEMs offering connected services today. Examples of such companies include Ampler Bikes from Estonia; Canyon Bicycles, Riese & Müller and Urtopia from Germany; Cowboy and Stella from Belgium; Gaya from France; Gazelle, Sparta, Urban Arrow and Van Moof from the Netherlands; as well as QuietKat from the US. The leading telematics service providers are based in Europe. Those include Comodule, Conneqtech, IoT Venture, Velco and PowUnity. Other providers serving the market include Bosch, Haveltec, BikeFinder, Trackap, Tracefy, Boomerang Bike, Leopard Tech, ConnectLab and Boréal Bikes.

“Many telematics service providers offer a combination of OEM and aftermarket solutions while some focus on one of the segments. Telematics service providers moreover provide different forms of telematics solutions ranging from relatively simple tracking services to full telematics systems enabling a wide range of features”, concluded Mr Cederqvist.

Download report brochure: The Bicycle Telematics Market in Europe and North America

The post The installed base of bicycle telematics systems in Europe and North America reached 1.7 million in 2023 appeared first on IoT Business News.

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