Internet of Things (IoT) specialist Direct Communication Solutions Inc (CSE: DCSI) has launched a cloud-based tracking tool for the fast-growing global electric bike (or e-bike) market.
The MiEbike mobile app can provide alerts, notifications, geozones and location sharing of a user’s e-bike in the event that it is stolen.
The app is designed to track e-bikes in real time and the location data is expected to assist with rapid recovery.
MiEbike is fully integrated into Direct Communication’s MiFleet cloud-based fleet tracking and management platform.
It can be purchased online, through carrier partners or through an extensive network of dealers and resellers and is available with annual or month-to-month subscription plans.
Direct Communications chief executive officer Chris Bursey said the app would become a valuable asset in a growing market plagued by theft.
“With the high cost of e-bikes, [this app] offers a discrete and easy-to-install tracking solution, which provides an owner with real-time location data to assist in a quick recovery,” he said.
“The GPS will track for 30 days at five-second reporting intervals and low battery notifications … [it] provides an additional layer of security by giving visibility [of a stolen bike] to the owner.”
E-bike market growth
Industry research shows the global e-bike market is expected to grow from $40 billion this year to around $92 billion by 2029 at a 12.6% compound annual growth rate.
Studies have shown that e-bikes are three times more likely to be stolen than conventional bicycles, due to their high value.
The average cost of an e-bike in the US is $1,800, while replacing the lithium-ion battery could cost up to $600.
On average, one e-bike is stolen in the US every 30 seconds, equating to 2 million bikes stolen a year and a negative financial impact of $350 million per year.