Motorcycle Infotainment Market - Global Outlook and Forecast 2018-2023
The global motorcycle infotainment system market is projected to generate revenues of around $323 million by 2023, growing at a CAGR of approximately 14% during 2017-2023. This market research report also offers market size analysis in terms of unit shipment values during the forecast period.
The rapid economic growth, availability of easy financing, and brand awareness across countries in APAC such as India, China, and Japan will encourage players to expand their businesses to these markets. The integration of electronics such as collision avoidance systems, infotainment, connected systems, and drive-by-wire technologies will boost the adoption of these systems in the market. The global motorcycle infotainment system market is driven by the availability of cheap labor, favorable business environment, government subsidies, and abundance of resources in emerging nations. The integration of collision avoidance systems, infotainment, connected systems, and drive-by-wire technologies will boost revenues in the global market. The market research report provides in-depth market analysis and segmental analysis of the global motorcycle infotainment system market by product, application, and geography.
The report considers the present scenario of the global motorcycle infotainment system market and its market dynamics for the period 2018−2023. It covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the market.
Motorcycle Infotainment System Market – Dynamics
The growing demand for premium motorcycles across emerging markets will drive the growth of the global motorcycle infotainment market. The rapid economic development, increase in per capita income, and availability of lucrative financing options is enabling consumers to invest in premium motorbikes in the developing markets. Leading manufacturers such as Bosh and Continental are investing in making safety electronics affordable for end-users in the global market. The launch of these initiatives will augment the growth of the global motorcycle infotainment market. Some of the safety electronics used by motorcycles are traction control, cornering ABS, active/semi-active suspension, and laser lights and HUD systems. The introduction of vehicle to vehicle technology supports short-range communication technology to exchange location, speed, heading, braking mode, and other information with nearby vehicles. These systems will help avoid a collision and increase the adoption of advanced technologies in the global motorcycle infotainment market. Recently, in 2017, Bosch announced a prototype vehicle-to-vehicle communication system.
Motorcycle Infotainment System Market – Segmentation
This market research report includes a detailed segmentation of the market by products, application, and geography. Motorcycle segment dominated the majority of the market share in 2017, growing at a CAGR of around 15% during the forecast period. The growing demand for premium trikes is propelling the growth of this segment in the global market. The government initiatives to promote passenger safety will drive the demand for innovative systems in the global market. The baby boomers section that has an immense passion for riding trikes is the largest end-users in this segment in the global motorcycle infotainment system market.
The OEM segment occupied over 3/4th of the market share in 2017, growing at a CAGR of approximately 14% during the forecast period. The growing demand for wear-and-tear and crash-relevant parts is driving the growth of this segment in the global market. Revenues related to digital services are expected to increase three-fold during the forecast period. The launch of innovative aftermarket products with advanced features is gaining immense popularity in the motorcycle infotainment system market.
Market Segmentation by Product
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