Motorcycle Infotainment Market Outlook :
The motorcycle infotainment market is a combination of hardware and software that is utilized to provide audiovisual information to the rider. A typical motorcycle infotainment system consists of a display, GPS tracker, software, and connectivity module. The outlook for motorcycle infotainment systems appears upbeat with the growing integration of smart systems in automobiles. The motorcycle infotainment system provides both entertainment and information to riders while riding a motorcycle. It comprises an entertainment system, navigation system, and tracking system. It helps riders by navigating on unknown routes. This also reduces the need to halt to search for the right navigation, entertainment, or other route information. The evolving trend of connectivity in vehicles has provoked consumers to connect their tablets and smartphones to infotainment systems for entertainment and accessing information, which is expected tofurther drivethe motorcycle infotainment market overthe forecast period.
COVID-19 scenario analysis:
- Coronavirus has forced factories to shut down, with workers across the world sent home. It has exposed the fact that advanced factory automation has not been substituted for human workers at scale.
- R&D of growing sectors has been shut as the workshops became inaccessible during this period, which is expected toimpact the plans of many companies.Some companies have even postponed their plans for an indefinite time.
- The people traveling from public transportation may shift to personal mobility with two-wheelers being a preferred option due to convenience.
- The supply chain has completely been disruptednow with no demand in the market, companies have to think of new strategies to overcome these losses after the lockdown.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Factors, such as an increase in popularity & demand for connected motorcycles across the globe and rise in adoption of safety & security features,are driving the growth of the market. However, declining sales of premium motorcycles and rising labor costs in emerging markets are expected to restrain the growth of the motorcycle infotainment market over the forecast period. Furthermore, the increasing rate of electrification of motorcycles and escalating use of safety electronics are expected to offer lucrative opportunities for the market growth in the near future.
The motorcycle infotainment market trends are as follows:
Increase in popularity and demand for connected motorcycles worldwide
Increase in the strategic alliances among the key players is one of the significant factors for the growth of the connected motorcycle marketduring the forecast period. For instance, in 2015, Kawasaki, Honda, Yamaha, and BMW Motorrad have entered into a joint venture to establish the connected motorcycles Consortium (CMC). These advancements are anticipated to boost the growth of the globally connected motorcycle market. In addition, premium motorcycles are gaining popularity, which is further expected to drive the motorcycle infotainment market over the forecast period.
The rise in adoption of safety and security features
As the technology is upgrading day-by-day with the arrival of the Internet of Things (IoT), a lot has changedthrough the introduction of new techniques to connect smartly. In addition, it also provides safety and security features for customers. Anti-lock braking and stability control are some of the examples that drive the safety of vehicles, which has also been proved by Bosch. With the arrival of connected motorcycles in the market, customers can be sure about safety and security while traveling, further boosting the growth of the market over the forecast period.
Key benefits of the report:
- This study presents the analytical depiction of the motorcycle infotainment market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the motorcycle infotainment market share.
- The current market is quantitatively analyzed to highlight the motorcycle infotainment market scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions answered in the market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Motorcycle Infotainment Market Report Highlights
By Sales Channel
Key Market Players
Sena Technologies Inc., Honda Motor Co. Ltd., Garmin Ltd., TomTom International BV, Bombardier Recreational Products (BRP), Clarion Co. Ltd., BMG AG, Polaris Industries Inc., Harley-Davidson, Harman International