Driven by rising health awareness and growing interest in bicycle commuting, coupled with the continuous technological upgradation, & innovations in product development are factors which are driving the demand for global bicycle infotainment system market. Over the forecast period of 2018-2026, the market is slated to exhibit a CAGR of 15.92%.
The global Bicycle Infotainment System market can be segmented on the basis of application and products. The applications of the bicycle infotainment systems market can be observed for road bikes, mountain bikes and others. The product segment of this market can be divided into wearable kits and onboard kits. The emergence of led-based navigation system for bicycle and growing demand in developing nations are offering lucrative growth opportunities for this market. However, the high costs associated with infotainment systems are hindering the market progression.
Regionally, the global bicycle infotainment market is segmented into North America, Europe, Asia-Pacific and rest of the world. North America dominated this market in 2017. High disposable income, advancements in bicycle infotainment system technology and its growing adoption in the region are driving the market demand in North America. Among all the major 4 markets, the Asia-Pacific bicycle infotainment market is expected to register the fastest growth. Bicycle commuting is more common in Asia-Pacific countries like India, China and Japan. Also, these countries seem very keen to adopt these advance technologies.
Few of the established market players in this region include Cateye Co. Ltd, Beeline Bikes Inc (Acquired By Accell Group), Cobi Bike Gmbh, Giant Manufacturing Co. Ltd, Garmin, Hammerhead, Lifebeam, Lezyne, Megellan, Sena Technologies Inc, Polar Electro Inc, Sigma Sport, Vudu7, Smarthalo Technologies Inc, and Wahoo Fitness L.L.C.