South & Central America Smart Bike Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Connectivity (Bluetooth and Wi-Fi), Handle Type (Fixed Handle Type and Moving Handle Type), and Application (Residential and Commercial)
The South & Central America smart bike market is expected to grow from US$ 42.01 million in 2022 to US$ 67.32 million by 2028. It is estimated to grow at a CAGR of 8.2% from 2022 to 2028.
Rising Interest in Smart Bikes in Developing Nations is Driving the South & Central America Smart Bike Market
The growing consumer demand for the technologically advanced smart bike is influencing manufacturers to expand their business. Consumers' rising interest in smart bikes is likely to bring lucrative opportunities for startups to develop more advanced bikes in the coming years. The company offers bikes at nearly one-fourth the price of leading players. They also offer a 1-year complimentary subscription to Flexnest classes. Such a rising number of startups in this field, coupled with competitive prices, can be expected to offer ample opportunities for market growth during the forecast period. Furthermore, various companies are adopting the inorganic development strategy of mergers and acquisitions for business growth. For instance, In June 2021, Cult.fit announced that they acquired TREAD, a Bengaluru-based connected fitness startup. The acquisition will help Cult.fit launch its hardware-at-home business vertical. With this acquisition, the company has taken its first step toward launching smart fitness hardware products. Thus, through mergers and acquisitions, companies are trying to penetrate deep into the market and expand their customer base, creating lucrative opportunities for market expansion, in developing nations, in the years to come. This, in turn, can be expected to create several future growth opportunities for the South & Central America smart bike market.
South & Central America Smart Bike Market Overview
The South & Central America smart bike market is spread across Brazil, Argentina, and the Rest of South & Central America. South & Central American countries have been slow adopters of technologies. Moreover, a limited number of smart bike manufacturing enterprises have a presence in this region. Among all South & Central American countries, Brazil is estimated to be the most significant contributor to the revenue of the South & Central America smart bike market during the forecast period. The market growth can largely be attributed to increasing awareness regarding health issues in the country. According to the LANDGEIST, in 2021, the southern part of South & Central America is more obese than the rest of the region. Argentina had the highest number of obese people in South & Central America, with 28.3% of the Argentine population being considered obese. Then comes Chile, with 28% of obese population, and third is Uruguay, with a 27.9% obese population. Due to rising health issues, people in the region are moving toward exercising and physical training, which has increased the demand for smart bikes in South & Central America. With the surge in demand, bike manufacturers are expanding their businesses in the region. For instance, since 2015, BODY BIKE International is exporting indoor cycles to the Brazil market. They have selected Casa do Fitness as their distributor in the country.
South & Central America Smart Bike Market Revenue and Forecast to 2028 (US$ Million)
South & Central America Smart Bike Market Segmentation
The South & Central America smart bike market is segmented into Connectivity, handle type, and application, and country.
Based on connectivity, the South & Central America market is sub segmented into Bluetooth and wi-fi. The Bluetooth segment held the larger South & Central America smart bike market share in 2022.
Based on handle type, the South & Central America market is segmented into fixed handle type and moving handle type. The fixed handle type segment held a larger South & Central America smart bike market share in 2022.
Based on application, the South & Central America market is segmented into residential and commercial. The residential segment held the larger South & Central America smart bike market share in 2022.
Based on country, the South & Central America market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America smart bike market share in 2022.
Johnson Health Tech, Keiser Corporation, Life Fitness, MAD DOGG ATHLETICS, Nautilus, Inc., Peloton Interactive, Inc., and Wahoo Fitness are the leading companies operating in the South & Central America smart bike market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 South & Central America Smart Bike Market – By Connectivity
1.3.2 South & Central America Smart Bike Market – By Handle Type
1.3.3 South & Central America Smart Bike Market – By Application
1.3.4 South & Central America Smart Bike Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. South & Central America Smart Bike Market Landscape
4.1 Market Overview
4.2 South & Central America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. South & Central America Smart Bike Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Health Consciousness
5.1.2 Technological Advancement in Smart Bikes
5.2 Market Restraints
5.2.1 High Initial Investment
5.3 Market Opportunities
5.3.1 Rising Interest in Smart Bikes in Developing Nations
5.4 Future Trends
5.4.1 Corporate Wellness Programs
5.5 Impact Analysis of Drivers and Restraints
6. Smart Bike Market – South & Central America Analysis
6.1 South & Central America Smart Bike Market – Revenue and Forecast to 2028 (US$ Million)
7. South & Central America Smart Bike Market Analysis – By Connectivity
7.1 Overview
7.2 South & Central America Smart Bike Market, By Connectivity (2021 and 2028)
7.3 Bluetooth
7.3.1 Overview
7.3.2 Bluetooth: South & Central America Smart Bike Market – Revenue, and Forecast to 2028 (US$ Million)
7.4 Wi-Fi
7.4.1 Overview
7.4.2 Wi-Fi: South & Central America Smart Bike Market – Revenue, and Forecast to 2028 (US$ Million)
8. South & Central America Smart Bike Market Analysis – By Handle Type
8.1 Overview
8.2 South & Central America Smart Bike Market Breakdown, By Handle Type, 2021 & 2028
8.3 Fixed Handle Type
8.3.1 Overview
8.3.2 Fixed Handle Type Market Revenue and Forecast to 2028 (US$ Million)
8.4 Moving Handle Type
8.4.1 Overview
8.4.2 Moving Handle Type Market Revenue and Forecast to 2028 (US$ Million)
9. South & Central America Smart Bike Market Analysis – By Application
9.1 Overview
9.2 South & Central America Smart Bike Market Breakdown, By Handle Type, 2021 & 2028
9.3 Residential
9.3.1 Overview
9.3.2 Residential Market Revenue and Forecast to 2028 (US$ Million)
9.4 Commercial
9.4.1 Overview
9.4.2 Commercial Market Revenue and Forecast to 2028 (US$ Million)
10. South & Central America Smart Bike Market – Country Analysis
10.1 Overview
10.1.1 South & Central America Smart Bike Market Breakdown, by Country
10.1.1.1 Brazil Smart Bike Market, Revenue and Forecast to 2028
10.1.1.1.1 Brazil Smart Bike Market Breakdown, By Connectivity
10.1.1.1.2 Brazil Smart Bike Market Breakdown, By Handle Type
10.1.1.1.3 Brazil Smart Bike Market Breakdown, By Application
10.1.1.2 Argentina Smart Bike Market, Revenue and Forecast to 2028
10.1.1.2.1 Argentina Smart Bike Market Breakdown, By Connectivity
10.1.1.2.2 Argentina Smart Bike Market Breakdown, By Handle Type
10.1.1.2.3 Argentina Smart Bike Market Breakdown, By Application
10.1.1.3 Rest of South & Central America Smart Bike Market, Revenue and Forecast to 2028
10.1.1.3.1 Rest of South & Central America Smart Bike Market Breakdown, By Connectivity
10.1.1.3.2 Rest of South & Central America Smart Bike Market Breakdown, By Handle Type
10.1.1.3.3 Rest of South & Central America Smart Bike Market Breakdown, By Application
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
11.4 Mergers and Acquisitions
12. Company Profiles
12.1 Keiser Corporation
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Life Fitness
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Nautilus, Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Peloton Interactive, Inc.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Wahoo Fitness
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Johnson Health Tech
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 MAD DOGG ATHLETICS
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. South & Central America Smart Bike Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. South & Central America Smart Bike Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. Brazil Smart Bike Market, by Connectivity – Revenue and Forecast to 2028 (US$ Million)
Table 4. Brazil Smart Bike Market, By Handle Type – Revenue and Forecast to 2028 (US$ Million)
Table 5. Brazil Smart Bike Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 6. Argentina Smart Bike Market, by Connectivity – Revenue and Forecast to 2028 (US$ Million)
Table 7. Argentina Smart Bike Market, By Handle Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. Argentina Smart Bike Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 9. Rest of South & Central America Smart Bike Market, by Connectivity – Revenue and Forecast to 2028 (US$ Million)
Table 10. Rest of South & Central America Smart Bike Market, By Handle Type – Revenue and Forecast to 2028 (US$ Million)
Table 11. Rest of South & Central America Smart Bike Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 12. List of Abbreviation
LIST OF FIGURES
Figure 1. South & Central America Smart Bike Market Segmentation
Figure 2. South & Central America Smart Bike Market Segmentation – By Country
Figure 3. South & Central America Smart Bike Market Overview
Figure 4. Bluetooth Segment Held the Largest Share of South & Central America Smart Bike Market
Figure 5. Fixed Handle Type Segment Held the Largest Share of South & Central America Smart Bike Market
Figure 6. Residential Segment Held the Largest Share of South & Central America Smart Bike Market
Figure 7. Brazil to Show Great Traction During Forecast Period
Figure 8. South & Central America: PEST Analysis
Figure 9. Expert Opinion
Figure 10. South & Central America Smart Bike Market Impact Analysis of Drivers and Restraints
Figure 11. South & Central America Smart Bike Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. South & Central America Smart Bike Market Revenue Share, By Connectivity (2021 and 2028)
Figure 13. Bluetooth: South & Central America Smart Bike Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 14. Wi-Fi: South & Central America Smart Bike Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 15. South & Central America Smart Bike Market Breakdown, By Handle Type (2021 and 2028)
Figure 16. Fixed Handle Type Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. Moving Handle Type Market Revenue and Forecast to 2028(US$ Million)
Figure 18. South & Central America Smart Bike Market Breakdown, By Handle Type (2021 and 2028)
Figure 19. Residential Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. Commercial Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. South & Central America Smart Bike Market, by Key Country – Revenue (2021) (US$ Million)
Figure 22. South & Central America Smart Bike Market Breakdown, by Country, 2021 & 2028 (%)
Figure 23. Brazil Smart Bike Market, Revenue and Forecast to 2028 (US$ Million)
Figure 24. Argentina Smart Bike Market, Revenue and Forecast to 2028 (US$ Million)
Figure 25. Rest of South & Central America Smart Bike Market, Revenue and Forecast to 2028 (US$ Million)
- Johnson Health Tech
- Keiser Corporation
- Life Fitness
- MAD DOGG ATHLETICS
- Nautilus, Inc.
- Peloton Interactive, Inc.
- Wahoo Fitness
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the South & Central America smart bike market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the South & Central America smart bike market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the smart bike market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution