Global Bicycle Infotainment System Market Will Grow Steadily at a CAGR of Around 28% by 2021

Market Research Hub includes new market research report “Global Bicycle Infotainment System Market 2017-2021” identifies Garmin, Wahoo Fitness, Polar, Magellan, and Sena Technologies as the key vendors in the global bicycle infotainment system market. A comprehensive analysis of this market is also presented by kits type (wearable kits and on-board kits) and by geography (the Americas, APAC, and EMEA).

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Market research analysts at MRH predict that the global bicycle infotainment system market will grow steadily at a CAGR of around 28% by 2021. This market research analysis identifies the development of low-cost infotainment systems as one of the primary growth factors for the bicycle infotainment system market. Bicycle infotainment system was previously limited to premium bicycles which only few riders could afford. However, recent advancements that resulted in the development of low-cost systems the integration of infotainment systems is now possible in the mid- and low-segment bicycles as well. For instance, COBI, one of the prominent players in the bicycle infotainment market introduced the connected bike system in 2014. This system turns the riders smartphone into a unique infotainment system for bicycles consisting of multiple modules to mount on and is loaded with features such as theft alarm, real-time tracking, navigation, music playback, fitness statistics, weather forecast, and shift recommendations. Moreover, vendors also develop devices to specific customers with only navigation as a primary requirement and these are priced much lower than a complete infotainment system.

The development of LED-based bicycle navigation systems is one of the latest trends that will gain traction in the bicycle infotainment system market during the coming years. These advanced infotainment systems usually have larger displays for the efficient tracking of navigation details. However, these displays distract riders, creating the need for a system that offers efficient navigation without distraction. This will lead to the development of navigation kits that assist in reducing distraction levels. One of the prominent manufacturers Hammerhead, has already introduced a navigation system based on unique LED-based technology. The device offers turn-by-turn navigation directions in the form of LED flashing.

Competitive landscape and key vendors

The bicycle infotainment system market provides a lot of opportunities to the new entrants and is characterized by fast-growing technological innovations. The entry of new players will intensify the level of competition among the existing players. To gain a competitive edge, the vendors will make huge investments towards the development of innovative features and design.

The leading vendors in the market are -

Garmin
Wahoo Fitness
Polar
Magellan
Sena Technologies
The other prominent vendors in the market are Beeline, CatEye, COBI, Hammerhead, and Vudu 7.

Segmentation by kits type and analysis of the bicycle infotainment system market

Wearable kits
On-board kits
During 2016, the on-board kits type segment accounted for the major shares of the bicycle infotainment system market. The increased adoption of on-board kits due to technological advancements will contribute to the growth of this market segment in the coming years. Furthermore, the rising demand for navigation devices with infotainment features from touring customers will also drive the demand for on-board kits.

Geographical segmentation and analysis of the bicycle infotainment system market

Americas
APAC
EMEA
This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the market throughout the forecast period. The US and Canada are the main contributors to the bicycle infotainment system market in the Americas where the increasing demand for bicycle infotainment systems is mainly due to the rise in baby boomers. Moreover, the increasing cycling activities in the smaller and medium cities of the US and the rise in number of people taking up sports activities such as cycling as a form of exercise, will also influence the growth of the market in the Americas.

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Key questions answered in the report include

What will the market size and the growth rate be in 2021?
What are the key factors driving the global bicycle infotainment system market?
What are the key market trends impacting the growth of the global bicycle infotainment system market?
What are the challenges to market growth?
Who are the key vendors in the global bicycle infotainment system market?
What are the market opportunities and threats faced by the vendors in the global bicycle infotainment system market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global bicycle infotainment system market?
MRH also offers customization on reports based on specific client requirement.

The key function of a bicycle infotainment system is to provide the rider information, entertainment, and communication while riding. To provide actionable insights, our industry research experts identify and analyze factors that are expected to prove crucial in the growth of the automotive sector across the globe. Moreover, by studying the current market dynamics for several automotive sectors like automotive components, automotive electronics, and automotive manufacturing, our market research analysts have identified factors that will play an important role in helping the clients gain higher market shares in the global and regional markets.

By considering an extensive research approach of quantitative and qualitative data collection methods and covering various factors including the rising demand for a diverse array of products across geographical regions, research analysts at MRH diagnose the growth prospects of automotive sectors such as automotive services and automotive accessories, which will help clients develop effective business strategies. According to our market research analysts, the exponential growth of the bicycle commuting population in developed regions is one of the major factors responsible for the growth of this market. This forthcoming market research report on the bicycle infotainment system market also considers the growth of the similar markets such as global sports bicycle market and global children bicycle market, which are expected to grow at a CAGR of about 6% and above 2%,respectively by 2021. Also, MRH offers customized reports that help businesses identify new growth opportunities.

The upcoming report on the bicycle infotainment system market also identifies the drivers, impending trends, along with the imminent challenges currently experienced by the automotive component sector. This market research report also presents insights into the dynamically changing competitive landscape along with the products and services offered by prominent vendors.

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