“Telematics,” as analysts at IoT and digital technologies firm Berg Insight write, “is a broad term that may be applied to a wide range of vehicle connectivity solutions.” In its latest report in which this quote appears, the firm uses the phrase “telematics system” to specifically describe “any bicycle that incorporates some form of cellular communications.”
As this report (aptly named The Bicycle Telematics Market in Europe and North America) details, the adoption of telematics systems in the bicycle industry picked up speed (pun clearly intended by Berg Insight) over the past few years. With both OEM and aftermarket telematics solutions available on the market, their main use cases reportedly involve systems for stolen vehicle tracking and smarter means of threat prevention – additional services like bicycle diagnostics, connected navigation, roadside assistance and crash detection are utilized, as well (and are maintained with over-the-air updates).
Given Berg Insight’s expertise in IoT verticals such as automotive telematics, fleet management, and even smart metering and smart home technologies, the firm gathered more data (bicycles-wise) and reported the following.
In Europe:
- At the end of 2023, there were an estimated 1.56 million active bicycle telematics systems including both the OEM and aftermarket segments in Europe.
- Growing at a CAGR of 17.3%, the number of active bicycle telematics systems is forecasted “to reach 3.46 million by 2028.”
- Yearly shipments of OEM and aftermarket telematics systems are moreover expected “to reach 1.17 million in Europe in 2028, up from 0.42 million in 2023.”
In North America:
- The market is still extremely far behind Europe, albeit growth is still, well, growing. In both OEM and aftermarket segments, North American estimates for active bicycle telematics systems peaked at 90,000.
- Growing at a CAGR of 34.4% (again, with due consideration to the higher overall European numbers), the number of systems is expected “to reach 394,000 by 2028.”
- Yearly shipments of OEM and aftermarket are expected “to reach 169,000 in North America by 2028, up from 45,000 in 2023.”
So, the long-story-short of it?
Berg Insight’s analysis (with additional concerns including total addressable market, market penetration and shares, the industry landscape and trends therein) has provided a very solid glance at telematics systems’ potentials (particularly for comparatively budding North American customers, when considering Europeans’ activities). And when the eyes-on-the-prize type of global viewpoint is still very much on active climate crises, even a smaller rise in cleaner transportation methods like bicycles is still a rise, nonetheless.
Read more here.
Edited by
Greg Tavarez
