Bicycle infotainment system is the technology that provides information, entertainment as well as communication to rider while riding or travelling. Bicycle infotainment system also provides bicycle to bicycle communication. Bicycle to bicycle communication involves transmission and exchange of information among riders through installed infotainment devices on the bicycle independent of the location. The infotainment device may be built in or portable. The global bicycle infotainment system market is expected to grow with a CAGR of about 25% during the forecast period of 2016-2023. A large amount of data can be collected from the vehicle and can be used for further research purpose. With the help of connectivity the data can be transmitted at real time and can be used for tracking and navigation purpose. There are numerous benefits of bicycle infotainment that are driving the global bicycle infotainment system market during the forecast period. The benefits include reduction in the chances of cancer and cardio vascular diseases, reduction in diabetes, depression and hypertension. One of the major drivers fueling the growth in global bicycle infotainment system market during the forecast period is increasing health and fitness awareness among general population globally. Increasing demand for real time tracking and navigation and increased technological advancements such as enhanced tracking and navigation technologies are also responsible for the growth of the global bicycle infotainment system market during the forecast period.
The key driver fueling the growth in the global bicycle infotainment system market is increasing health and fitness awareness among general population globally. According to the U.S. Department of Health and Human Services, in 2016, 72% of the total American population was physically fit. Moreover, one in every three children is physically fit in United States. The growth is mainly due to various public awareness campaigns conducted by the U.S. government. Due to such campaigns, general population is becoming aware and are adopting fitness techniques that drives the growth of the global bicycle infotainment market during the forecast period.
Source: OBRC Analysis.
The report on global voice bicycle infotainment system market has been segmented on the basis of its segments such as product type and applications.
The products of bicycle infotainment system are divided as:
- Wearable kits
- On board kits
Applications of bicycle infotainment system include:
- Mountain bike
- Road bike
- Others
The report scope is widely categorized on the basis of its segments such as product typeand applications. Moreover, the market revenue estimates and forecast includesonly the bicycle infotainment systems. However, report scope excludes automobile infotainment system.
Geographically, the global bicycle infotainment system market report has been segmented into:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of World
North America accounted for the largest market share in terms of revenue in 2016 and the region is expected to dominate the market even during the forecast period. In North America, the main contributors to the bicycle infotainment market are developed countries such as United States and Canada. The increasing demand for bicycle infotainment systems in the region are mainly due to rise in baby boomers. Baby boomers are the demographic devices. Moreover, increasing cycling and sports activities in the region are adding growth to the bicycle infotainment system market during the forecast period. In United States, there has been increase in the cycling activities in smaller and medium cities. This will fuel the growth in the bicycle infotainment system market in the region during the forecast period. Furthermore, Asia Pacific is the fastest growing region in the field of bicycle infotainment system market during the forecast period.
Global bicycle infotainment system market report covers segmentation analysis of product type and application.Report further covers segments of product type which includes wearable kits and On board kits. On board kits type segment accounted for the major shares of the global bicycle infotainment system market in 2016. The segment is expected to dominate the global bicycle infotainment system market during the forecast period. Increased adoption of on board kits due to technological advancements is contributing to the growth of the global bicycle infotainment system market during the forecast period. Moreover, rising demand for navigation infotainment devices is also driving the demand for on board kits during the forecast period. The application of the global bicycle infotainment system includes mountain bikes, road bikes and others. Road bikes accounted for the largest market share in terms of revenue in 2016. The segment is expected to dominate the market during the forecast period.
The major market players of the global bicycle infotainment system market are:
- GARMIN
- WAHOO FITNESS
- POLAR
- MAGELLAN
- SENA TECHNOLOGIES
- OTHERS
These companies using various strategies such as merger & acquisition, collaboration, partnership and product launch. Whereas, merger &partnership is the key strategy adopted by the companies in the global bicycle infotainment systemmarket.
For example: In 2017, Wahoo Fitness announces its merger and partnership with Rapha Cycling Club (RCC). This partnership will provide technologically advanced rental bikes.
The report covers detailed analysis of companies which comprises overview, SCOT analysis, product portfolio, strategic initiative, strategic analysis, competitive landscape and market share analysis in global bicycle infotainment systemmarket.
Key reasons to buy the report:
- The report includes market estimation, forecast and analysis for the year 2016-2023 of the global bicycle infotainment system market.
- Report includes detailed analysis of different segments such as product type and applications of the global bicycle infotainment system market.
- Identify and understand the strength, opportunities, challenges and threat of the global bicycle infotainment system market.
- Covers details analysis of Porters 5 force model and other strategic models. Also covers revenues, market share analysisand competitive landscape analysis of major players of the global bicycle infotainment system market.
- Detailed analysis of various the regulatory policies which are affecting the global bicycle infotainment system market.
How are we different from others:
At Occam’s we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on the global bicycle infotainment system market offers detailed analysis of strategic models such as investment vs. adoption model, see saw analysis and others strategic models. Also, the report contains the detailed analysis of application, adoption scenario and decision support for each segment. The report discusses competitive landscape of the global bicycle infotainment system market, with giving extensive SCOT analysis of key companies.
Key Findings of the global bicycle infotainment system market:
- Increasing demand for real time tracking and navigation is adding growth in the global bicycle infotainment system market during the forecast period.
- North America held highest revenue share in 2016 and is expected to dominate the market during the forecast period.
- On board kits type segment accounted for the major shares of the global bicycle infotainment system market in 2016 due to rising demand for navigation infotainment devices.
- Merger and partnership is the key strategy adopted by players of the global bicycle infotainment system market.