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Market research firm Berg Insight announced this month in a new report that 420,000 bicycle telematics systems were sold in Europe in 2023. This estimated number includes both products factory-fitted by OEMs and aftermarket devices sold in retail.
According to the report, 1.56 million of such systems are currently active in Europe. It is expected that the market will continue to grow at a CAGR of 17.3% to reach yearly shipments of 1.17 million in 2028, the active installed base reaching 3.46 million the same year.
In comparison the North American market is far behind. Indeed, the total number of active bicycle telematics systems in use (including both the OEM and aftermarket segments) reached 90,000 in the region by year-end 2023.
Growing at a CAGR of 34.4 percent, this number is expected to reach 394,000 by 2028. Yearly shipments of aftermarket and OEM telematics systems are expected to reach 169,000 in North America in 2028, up from 45,000 in 2023.
