The connected motorcycle market exceeds 4,759 USD. 3 million by 2031 from USD 92.2 million in 2021 at a CAGR of 48.3% in future years i.e. 2021-31. Product presentation
New York, July 13. 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Connected Motorcycle Market: Segmented: By Service, By Connectivity Solution, By Propulsion, and Region – Global Size, Share Analysis and Trends for 2019 -2020 and forecast to 2031″ – https://www.reportlinker.com/p06288786/?utm_source=GNW
A connected motorcycle is an intelligent mobility system that connects riders to a telematics control unit via a cellular connection (TCU). It is equipped with state-of-the-art technology that alerts the user to vehicle traffic, potholes, turns, oil level, tire pressure and battery life. It also enables remote monitoring by, among other things, tracking stolen vehicles, obtaining data for performance analysis and providing operational information, roadside assistance and over-the-air (OTA) upgrades. The connected motorcycle industry has been fueled by factors such as technological breakthroughs, improved automotive safety, the arrival of rider assistance systems in bicycles, and booming logistics in the sectors. retail and e-commerce.
The global connected motorcycle market is expected to project a notable CAGR of 48.3% in 2031.
Factors such as the increasing sales of premium motorcycles worldwide, the growing need for motorcycle safety as well as rider assistance, and the growing demand for usage-based insurance and infotainment systems in motorcycles will all contribute to the growth of the connected motorcycles market. The market will also benefit from impending motorcycle rider safety legislation in countries around the world.
Global Connected Motorcycle: Segments
Driver Assistant Segment to Grow with Highest CAGR in 2021-31
The market is divided into driver assistance, infotainment, security, vehicle management, telematics and insurance, based on the type of service. The driver assistance segment holds the highest market share and is expected to continue to do so during the projected period. The significant development of the need for warning and alert systems to moderate speed and minimize possible fatalities and road accidents is credited with this supremacy. Lane change alerts, traffic jam warnings, on-board signs, green light increase speed recommendations and other driver assistance services are available. The research and design of such systems is aimed at simplifying use and making cycling comfortable. As a result, this progress is expected to increase significantly over the next few years.
Internal Combustion Engine Segment Expected to Grow with Highest CAGR in 2021-31
The market is divided into ICE and electric bicycles based on the type of propulsion. Due to its widespread use across geographies, the internal combustion engine (ICE) segment holds the largest market share. ICE bikes have a large market share and offer a wide range of conventional fuel motorcycles, allowing large companies to gain a significant share of the global market.
The increase in the number of security measures offered by connected motorcycles
Connected motorcycles are equipped with a sophisticated system that reads the route and alerts drivers to traffic, potholes, constructions, obstacles and turns. Manufacturers, researchers, suppliers and more have formed the Connected Motorcycle Consortium to bring motorcycles into connected mobility. Additionally, CMC focuses on motorcycles to improve driver safety by preventing road fatalities. One of the essential tasks of a connected motorcycle is to alert drivers to potentially dangerous situations. As a result, the amount of features available in the connected motorcycle industry is expected to drive growth.
Vehicle connection options are increasingly popular
Over time, smartphones have changed the concept of connectivity. Even when traveling, people want to stay connected to the outside world. Automakers are integrating connectivity solutions into their vehicles to increase vehicle sales now that connectivity has become a necessity. Consumers want their cars to perform functions similar to those performed by computers on smartphones. Car manufacturers have made the integration of connection solutions into their vehicles a major focus. Many networking options are built into today’s motorcycles, which require internet access to function properly. In addition, leading car manufacturers are installing connectivity systems in motorcycles so that all mobility data is accessible.
High risk of data breach could hamper business expansion
Connected motorcycle technology represents a possible concern for fraudsters and hackers. Due to the increasing complexity of communications and software vulnerabilities, these motorcycles are extremely vulnerable to hackers. It also includes GPS capabilities to locate and give high precision navigation to motorcyclists. Therefore, anyone with public access to GPS satellite data can influence the vehicle’s path and direct drivers in the wrong direction. Therefore, data piracy may limit the growth of the market.
Global Connected Motorcycle: Key Players
Company overview, business strategy, key product offerings, financial performance, key performance indicators, risk analysis, recent development, regional presence, SWOT analysis
Robert Bosch GmbH
Other top players
Global Connected Motorcycle: Regions
The global connected motorcycles market is segmented on the basis of regional analysis into five major regions: North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. The Asia-Pacific region recorded the highest motorcycle sales in the world. Because two-wheelers are an affordable and low-maintenance mode of transportation, Asian countries have high motorcycle penetration. Motorcycles in the middle and low price ranges are the most popular in these countries. With an increased market for tall motorcycles and a continued increase in disposable income, the region has attracted a large number of luxury motorcycle manufacturers.
Impact of Covid-19 on the connected motorcycle market
The market for connected motorcycles has been severely hampered by the lack of workers due to the government-imposed lockdown and shutdown of production processes at automobile manufacturing plants. Additionally, the COVID-19 outbreak has caused economic uncertainty and reduced consumer demand, which has hampered new vehicle sales and non-essential vehicle maintenance. Additionally, automakers with large supply chains are suffering from critical component shortages and should consider developing alternative sourcing strategies.
Global Connected Motorcycle is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, YOY Growth, CAGR – US & Canada
Latin America Market size, share, trends, opportunities, annual growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
European Market Size, Share, Trends, Opportunities, YOY Growth, CAGR – UK, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
Market Size, Share, Trends, Opportunities, YoY Growth, CAGR of Asia-Pacific Market – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
Middle East & Africa Market Size, Share, Trends, Opportunities, YOY Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
The Global Connected Motorcycle report also contains analysis on:
Segments of connected motorcycles:
Vehicle management and telematics
By connectivity solution
Integrated Combustion Engine (ICE)
Dynamics of the connected motorcycle
Connected motorcycle size
Offer and demand
Competition and companies involved in the market
Market value chain
Market drivers and restraints
Scope and segmentation of the Connected Motorcycles Market report
Report attribute details
The value of the market size in 2021 92.2 million USD
Revenue forecast in 2031 4,759.3 million USD
CAGR growth rate of 48.3% from 2021 to 2031
The base year for the 2020 estimate
Quantitative Units Revenue in Million USD and CAGR from 2021 to 2031
Report Coverage Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends
Segments Covered Service, Connectivity Solution, Propulsion and Territory
Regional scope North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)
Major companies featured Aeris, Autotalks Ltd, BMW AG, Continental AG, E-Novia, KPIT, Panasonic Corporation, Robert Bosch GmbH, Triumph Motorcycles, Vodafone Limited and other top players.
Read the full report: https://www.reportlinker.com/p06288786/?utm_source=GNW
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