The Global Bicycle Infotainment System Market size is projected to grow at a CAGR of 20.5% during the forecast period, with an estimated value of USD 1bn in 2028. The major factor driving the growth is the increasing demand for high-end bicycles, which are equipped with features such as GPS tracking and electronic displays.
A bicycle infotainment system is a device that allows for wireless communication from the bicycle. It can provide important information such as date, time, and location along with other features. It is an electronic device that has been added to a typical bike. It allows the user access to media, GPS navigation, and communication tools while they are on their commute or ride. They can listen to music, make phone calls and even track location using integrated systems.
On the basis of Type, the global bicycle infotainment system market is segmented into wearable kits and onboard kits.
Wearable kits are the type of bicycle infotainment system that can be worn on the body. It is also known as a personal navigation device. The features of wearable kits type are, the system consists of only sensors and actuators to monitor performance. Wear-able kits are attached to the cyclist’s wrist, which avoids distraction while riding. This system type is easy to use and provides accurate information on speed, distance covered, time is taken, etc., so that cyclists can improve their performance by working out specific areas of improvement.
On-board kits are types of bicycle infotainment systems that keep all the important parts on the bike itself. The parts include a display, control unit, and speakers. Onboard Kits are built into the bicycle frame and have a wired connection to a handlebar-mounted display. The Display may also be connected to an electronic device such as a smartphone, MP player, or GPS unit via Bluetooth for information sharing with other systems onboard the bike. Its benefits are easy to install and use, Offers a better experience when riding the bike, thus making it safe.
On the basis of Application, the global bicycle infotainment system market is segmented into road bike, mountain bike, and others.
On the basis of Region, the global bicycle infotainment system market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America holds the majority of the shares in terms of revenue generated from sales of electronic devices followed by the European region where major players have penetrated with enhanced product portfolio at economical prices making it affordable for consumers across several countries including Germany, France Sweden, etc., Asia Pacific will be witnessing high growth in terms of revenue generated from sales of bicycle infotainment systems due to increasing per capita income and purchasing power parity (PPP) which would further drive the adoption rate for this innovative product offering. Currently, the Latin American countries are focusing on increasing their share in global trade and as a result, companies operating within this region have made significant advancements to meet customer’s needs. The Middle East & Africa bicycle infotainment system market is expected to grow at a CAGR of around 24% in the next five years. The region has witnessed an increasing demand for bicycles since 2016, which led to a significant increase in revenue and bike production in countries like Oman and Saudi Arabia. This trend is likely to generate high growth opportunities for vendors operating in this market during the forecast period (2019–2023).
The growth factors for the global bicycle infotainment system market are due to its increasing demand in various applications. Also, there is a growing number of companies engaged in the ICT industry that has led to an increase in the research & development activities across North America and Europe over the past few years. Furthermore, rising awareness about health benefits associated with cycling has led to a surge in the bicycle infotainment system market.
Up Market Research published a new report titled “Bicycle Infotainment System Market research report which is segmented by Types (Wearable Kits, On-Board Kits), By Applications (Road Bike, Mountain Bike, Others), By Players/Companies Garmin, Wahoo Fitness, Polar, Magellan, Sena Technologies, Cateye”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
|Report Attributes||Report Details|
|Report Title||Bicycle Infotainment System Market Research Report|
|By Type||Wearable Kits, On-Board Kits|
|By Application||Road Bike, Mountain Bike, Others|
|By Companies||Garmin, Wahoo Fitness, Polar, Magellan, Sena Technologies, Cateye|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||227|
|Number of Tables & Figures||159|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Wearable Kits, On-Board Kits and By Application Road Bike, Mountain Bike, Others.
Some of the companies that are profiled in this report are:
Bicycle Infotainment System Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Bicycle Infotainment System Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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