The global connected motorcycles market size is expected to grow from $ 55 million in 2021 to $ 757 million by 2027, at a CAGR of 54.7%

Factors such as the growing demand for connectivity devices in motorcycles, measures taken by governments to improve the safety of motorcyclists, the increased demand for real-time vehicle dynamics and motorcycle tracking have increased the demand for connected motorcycles. in the whole world.

New York, December 23, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Connected Motorcycles Market by Hardware, Calling Service, Communication Type, Network Type, End User, Service, Motorcycle Type, Application, Propulsion and Region – Global Forecast to 2027 “- https://www.reportlinker.com/p05839846/?utm_source=GNW
The growing demand for services such as rider behavior recording and usage-based insurance will further increase the demand for connected motorcycle technology.

The integrated segment is expected to be the largest hardware segment market in the forecast.

The integrated connectivity system can offer advanced security features that require on-board GPS, cellular connectivity and a superior control unit to be reliable. For example, Motorcycle Approach Indication (MAI) is a key feature for riders.

This functionality relies heavily on the precise on-board GPS unit and fast communication systems. Integrated hardware is superior to connected hardware.

For real-time security functions, connectivity systems cannot depend on smartphones or any other substandard dongle. Therefore, on-board hardware will be the preferred choice of motorcycle manufacturers to provide reliable safety features in the future.

Asia-Pacific is expected to be the fastest growing market during the forecast period.
The Asia-Pacific region includes major 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 high 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 due to 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.

North America will be the largest region from 2021 and one of the largest regions during the forecast period
The North American auto industry is one of the most advanced industries in the world. The North American Free Trade Agreement (NAFTA) has fostered the growth of the auto industry in the region.

The United States, which has always been a global technology leader, is the largest premium motorcycle market in North America. The large customer base and high disposable income levels in the country have fueled the demand for adventure and sport motorcycles.

The growing demand for premium segment motorcycles would drive the connected motorcycles market in the future. OEMs are constantly looking for measures to provide a comfortable riding experience in this segment of motorcycles.

The inclusion of connectivity systems in this segment would facilitate driver assistance and vehicle management services in the initial phase.
OEMs like Harley Davidson, Zero Motorcycles and Indian Motorcycle have developed connected motorcycles for the North American market. Harley Davidson, for example, launched its LiveWire EV motorcycle in the North American market in July 2021.

Indian Motorcycle also has its connected motorcycle app called Ride Command, which can work with its connected motorcycles. His Scout, FTR Rally, Chief Dark Horse, Indian Springfield and Roadmaster come with this Ride Command app.

Additionally, Zero Motorcycles provides connected motorcycles like SR / F, which come with a Helios vehicle tracking system developed by Starcom Systems and Facomsa Instrument Cluster. Its SR / S smart motorcycle became the world’s first smart motorcycle, while its SR model also comes with connectivity features.

The presence of the best software providers, service platform providers and network providers in this region has also increased the demand for connected motorcycles. These companies have supported the growth of the connected motorcycle ecosystem through partnerships with OEMs and hardware suppliers throughout the value chain.

In-depth interviews were conducted with CEOs, Marketing Directors, other Innovation and Technology Directors, and executives from various key organizations operating in this market.
• By type of business: level I – 67%, level II – 9% and OEM – 24%
• By designation: level C executives – 33%, directors – 52% and others – 15%
• By region: North America – 40%, Europe – 22%, Asia-Pacific – 30%, LATAM – 4%, RDM – 4%
The connected motorcycle market is dominated by major OEMs including Yamaha (Japan), Suzuki (Japan), Kawasaki (Japan), BMW (Germany) and Harley Davidson (US) and component makers include Bosch (Germany) and Continental AG (Germany). Many software vendors, including Starcom Systems (UK), KPIT (India) and e-Novia (Italy), work with platform providers like IBM (US) and Amazon AWS (United States) and network providers such as Vodafone (United Kingdom) and Verizon (United States) to develop product and service offerings for the connected motorcycle ecosystem.

They have initiated partnerships to develop their connected motorcycle technology and provide finished products to their respective customers for the connected motorcycle market.

Research coverage:
The report covers the connected motorcycles market, in terms of hardware (integrated, connected), call service (eCall, bCall, iCall), communication type (V2V, V2I), network type (C-V2X , DSRC), End User (Private, Commercial), Service, Motorcycle Type, Application, Propulsion and Region (Asia-Pacific, Europe, North America, Latin America and Rest of the World). It covers the competitive landscape and company profiles of the main players in the connected motorcycle ecosystem.

The study also includes an in-depth competitive analysis of key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Main advantages of purchasing the report:
• The report will assist the market leaders / new entrants in this market with information on the closest approximations to revenue figures for the entire Connected Motorcycles market and its sub-segments.
• This report will help stakeholders understand the competitive landscape and gain more information to better position their businesses and plan appropriate go-to-market strategies.
• The report also helps stakeholders understand the market pulse and provides them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05839846/?utm_source=GNW

About Reportlinker
ReportLinker is an award winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

__________________________

CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001
Source link

About Todd Wurtsbach

Todd Wurtsbach

Check Also

Historical illustrations of racing bikes: forensic illustrations, in the December issue – Roadracing World Magazine

© 2021, Roadracing World Publishing, Inc. Featured in the December 2021 issue of Roadracing World: …