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¼¼°èÀÇ ÀÚÀü°Å¿ë ÀÎÆ÷Å×ÀÎ¸ÕÆ® ½Ã½ºÅÛ ½ÃÀå : À¯Çüº°, ¿ëµµº°, Áö¿ªº° - »ê¾÷ ºÐ¼®, ½ÃÀå ±Ô¸ð, ½ÃÀå Á¡À¯À² ¿¹Ãø(2024-2032³â)Bicycle Infotainment System Market, By Type, By Application, and By Region - Industry Analysis, Market Size, Market Share & Forecast from 2024-2032 |
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Bicycle Infotainment System Market size was valued at USD 751.2 Million in 2023, expanding at a CAGR of 13.00% from 2024 to 2032.
"Bike infotainment" refers to a category of technology intended to give riders amusement and information while they're on the road. This might range from music players and other onboard entertainment options to GPS systems that track your location and provide turn-by-turn directions. Bicycle infotainment is important because it can make riding a more pleasurable experience, which in turn motivates people to ride their bikes more frequently. Furthermore, by giving riders vital information like instructions or alerts it can also contribute to increased safety.
Bicycle Infotainment System Market- Market Dynamics
Improving Well-Being and Exercise Increasing Awareness to Spur Market Growth
The market for bicycle infotainment systems has grown dramatically as a result of people's growing awareness of fitness and health. People are looking for creative methods to fit exercise into their everyday routines as they become more aware of their health. With the addition of entertainment systems, riding a bicycle can be a practical and pleasurable way to reach fitness objectives. Riders are further encouraged to participate in regular cycling activities by the ability to analyze their performance, count calories burned, and set fitness targets that are made possible by the incorporation of fitness tracking functions in infotainment systems. Furthermore, people's preferences have shifted in favor of products that encourage an active lifestyle due to growing awareness of health and fitness. Nowadays, people are looking for creative ways to add interest and enjoyment to their workout regimens. By fusing technology and exercise, bike infotainment systems offer the perfect option.
Bicycle Infotainment System Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 13.00% over the forecast period (2024-2032)
Based on type segmentation, the wearable kits category was predicted to show maximum market share in the year 2023
Based on application segmentation, the road bikes category was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Bicycle Infotainment System Market is segmented on the basis of Type, Application, and Region.
The market is divided into two categories based on type: Wearable Kits and On-Board. The wearable kits category dominates the market. Devices like fitness trackers, smartwatches, and heads-up displays that give cyclists access to real-time performance data, navigation support, and connectivity capabilities like call and message alerts are all included in wearable kits. Cyclists may obtain information with these kits' convenience and adaptability without having to take their eyes off the road. They meet the demands of commuters, adventure riders, and fitness fanatics who want to improve their riding experience by providing customized data and connectivity options.
The market is divided into three categories based on application: Road Bike, Mountain Bike, and Others. The road bikes category dominates the market and is likely to maintain its dominance during the forecast period. Road bikes highlight features like navigation, real-time performance tracking, and communication with smartphones or other devices because they are meant to be used on paved terrain. Features such as GPS navigation with turn-by-turn directions, fitness monitoring metrics like speed and distance traveled, and interaction with cycling applications for route planning and social sharing are examples of infotainment systems designed specifically for road cycles. Road cyclists who want better navigational features and performance tracking while riding might have their needs met by these systems.
Bicycle Infotainment System Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Over the course of the forecast period, North America is anticipated to hold the greatest share of the global market for bicycle infotainment systems fueled by the rising rate of bicycle usage for exercise and leisure. The area has a strong cycling culture, with many people using bicycles for transportation and actively engaging in cycling events. Cycling is regarded as a popular recreational activity and a means of maintaining a healthy lifestyle in nations like the United States and Canada, in addition to being a means of transportation. The strong market demand for bicycles with cutting-edge infotainment systems is a result of this cultural preference for riding bicycles. Additionally, the development and improvement of bicycle infotainment systems are further aided by the presence of numerous top bicycle manufacturers and IT companies in North America.
In addition, the bicycle infotainment system market is anticipated to expand at the fastest rate in the world during the projected period in Asia Pacific. Bicycles with cutting-edge features are in high demand due to the region's growing urbanization, population, and disposable money. Lifestyles in nations like China, Japan, and India are changing to become more ecologically friendly and health-conscious. As a result, cycling is becoming more and more popular as a form of exercise, pleasure, and transportation. The market for bicycle infotainment systems is anticipated to rise significantly in the Asia Pacific region. Bicycles with cutting-edge features are in high demand due to the region's growing urbanization, population, and disposable money. Lifestyles in nations like China, Japan, and India are changing to become more ecologically friendly and health-conscious.
Leading market participants such as Garmin Ltd., Giant Manufacturing Co., Ltd., Hammerhead, Lezyne Inc., and Magellan (MiTAC Digital Corporation), among others, are working together with other businesses in an attempt to keep one step ahead of the competition. To increase the variety of products they offer, many businesses are also investing in the introduction of new products. Another important tactic used by players to diversify their product lines is mergers and acquisitions.
GLOBAL BICYCLE INFOTAINMENT SYSTEM MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
CatEye Co., Ltd.
COBI. Bike GmbH
Garmin Ltd.
Giant Manufacturing Co., Ltd.
Hammerhead
Lezyne Inc.
Magellan (MiTAC Digital Corporation)
Polar Electro Oy
Sena Technologies, Inc.
Sigma-Elektro GmbH (Sigma Sport)
Smarthalo Technologies Inc.
Vi Inc (LifeBEAM)
Wahoo Fitness LLC
Others