CHICAGO, December 16, 2021 / PRNewswire / – According to New Market Research Report “Connected motorcycle market by device (integrated, connected), call service, type of communication (V2V, V2I), type of network (C-V2X, DSRC), end user (private, commercial), service, type of motorcycle, application, propulsion and region – Global Forecast until 2027 “, published by MarketsandMarkets â¢, the size of the global connected motorcycles market is expected to increase from $ 55 million in 2021 to $ 757 million by 2027, to a CAGR of 54.7%.
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Factors such as increasing sales of premium motorcycles around the world, growing demand for motorcycle safety and driver assistance as well as growing demand for usage-based insurance and infotainment systems in motorcycles will drive demand for the connected motorcycle market. Upcoming regulations for motorcycle safety in countries around the world will also boost the market.
Commercial segment is expected to represent the largest market during the forecast period
Commercial users of connected motorcycles include fleet managers, insurers and other service providers. All these stakeholders rely on real-time vehicle data collected using a tracking device. For example, a tracking device in a vehicle can be installed under the hood or on the windshield. It collects vehicle data for analysis by a network provider. The network provider then provides information to the insurance provider. Vodafone Automotive offers insurance for use in vehicles in partnership with Generali Group. These insurers also offer additional value-added services such as theft alerts, accident assistance, roadside recovery and emergency services, including eCall and bCall. Usage-based insurance reduces the cost of premiums while providing easy claims. An accident / accident scene can be accurately reconstructed using the collected data. Therefore, this helps reduce the number of false claims. Companies like Hertz Ride, Bikesbooking, Eagle Rider, Riderly, MdorNomad, RentaRide, Edelweissbike, Indian Motorcycle and RetroVentures offer motorcycle rental services to individuals and businesses. They use connected vehicle features for their ridesharing services. Many logistics companies also use connectivity services on their motorcycles to enable tracking of vehicle location and dynamics for their delivery personnel. This leads to an increase in the demand for connected motorcycles in the commercial vehicle sector.
Vehicle telematics offers new revenue opportunities for OEMs and other third-party service providers. On-board sensors collect essential vehicle information such as speed, driving mode, trip information and parking locations. OEMs analyze this data and profile riders based on their riding behavior. This data can facilitate the warranty claim process. OEMs now have the option to void the warranty if the driver intentionally violates warranty rules by monitoring and using improper driving modes. OEMs can notify the rider of upcoming maintenance to avoid costly repairs. This data is also useful for other third party service providers. Service providers can offer tailor-made services for each rider after analyzing vehicle data. Further such implications would drive the demand for connectivity services in motorcycles during the forecast period. E-commerce companies will also be significant consumers of connected motorcycles due to their home delivery services in many populated countries. Companies like Amazon and Walmart have already used aspects of connected technology in motorcycles.
eCall is expected to represent the largest market size during the forecast period
The eCall system consists of components such as the positioning system (GPS [global positioning system]/ GLONASS [global navigation satellite system]), communication system (GSM [global system for mobile communications]) and electronic control units. Once the vehicle’s sensors detect an accident or collision, the system automatically dials the emergency number and contacts the nearest emergency call center. The systems also collect a minimum set of data such as the time of the accident, the precise position and the description of the accident vehicle. The eCall function can be triggered manually in case the rider wishes to contact the emergency center. The system should increase the chances of survival in the event of a fatal accident. ECall service providers must comply with data privacy regulations. According to upcoming European regulations, European eCall services will only be activated in the event of an accident. Therefore, the systems cannot track the vehicle all the time. The eCall services would be beneficial for motorcyclists, who are road users prone to accidents.
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“Asia is expected to be the fastest growing market during the forecast period. “
the Asia Pacific region includes the main motorcycle markets such as China, India, Indonesia, The Philippines, and Vietnam. The region accounted for over 90% of global motorcycle sales in 2020. As two-wheelers are a preferred mode of transportation due to their affordability and low maintenance, Asian countries such as India, Thailand, Indonesia, and Vietnam have a strong motorcycle penetration. Motorcycles in the medium and economy segments dominate the market in these countries. However, with a steady increase in disposable income and a growing demand for high-performance motorcycles, the region has attracted a number of high-end motorcycle manufacturers.
The region is home to some of the most innovative motorcycle manufacturers, such as Honda, Kawasaki, Yamaha and Suzuki. These OEMs actively participate in the Connected Motorcycle Consortium to develop connectivity services for motorcycles. They have already launched top-selling motorcycles in the economy segment with connectivity features. The region is also home to some of the world’s best connected motorcycle software providers. Companies like Delphi Automotive, Infineon Technologies and KPIT have worked on the development of automotive technologies, including connected mobility and autonomous technology. This has increased the demand for connected mobility devices in the APAC region. Increasing collaborations to deliver a safe and comfortable riding experience will drive the adoption of connected motorcycles in the region.
The high volume of motorcycle sales is said to drive the growth of the connected motorcycles market in the Asia Pacific Region. With a small percentage of motorcycles connected over the years, the Asia Pacific market would easily overtake other markets because of the high sales of two-wheelers in the years to come. In addition, international motorcycle manufacturers have entered this regional market and introduced sport and adventure motorcycles with large displacement engines. The growing millennial preference for high performance motorcycles and changing lifestyles would drive market growth in this region.
Key market players:
the Connected motorcycle market is dominated by the main equipment manufacturers including Yamaha (Japan), Suzuki (Japan), Kawasaki (Japan), BMW (Germany), and Harley davidson (US) and component manufacturers include Bosch (Germany) and Continental AG (Germany). Numerous software vendors including Starcom Systems (UK), KPIT (India) and e-Novia (Italy), work with platform providers like IBM (US) and Amazon AWS (US) and network providers like Vodafone (UK) and Verizon (US) to develop product and service offerings for the motorcycle ecosystem connected. They have initiated partnerships to develop their connected motorcycle technology and provide finished products to their respective customers for the connected motorcycle market.
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