Connected Motorcycle Market Size Is Projected To Touch $811.6 Million By 2027

The global connected motorcycle market size is expected to reach USD 811.6 million by 2027, expanding at a CAGR of 48.4% over the forecast period, according to a study conducted by Grand View Research, Inc. The growing emphasis on enhanced performance and real-time diagnostics, increasing adoption of security and safety features for a comfortable bike riding experience, and rising preference for premium motorcycles are projected to fuel the market growth.

For the consumer, security and safety are becoming progressively essential buying criteria. Therefore, smartphone-based connected driver assistance services offer one additional unique selling point for motorcycle OEMs to differentiate from competitors. The market for connected motorcycle is projected to grow faster than the overall two-wheeler market as the consumer demand for staying connected safely during the ride is present in all motorcycle segments.

The lockdown situation due to the COVID-19 pandemic is anticipated to impact not only the motorcycle dealers and manufacturers in the automotive industry but also other businesses across the supply chain, including large- and small-scale manufacturers of motorcycle components. However, motorcycle manufacturers are optimistic about the progressive restart of activity; commuters are expected to be more likely to avoid public transportation, boosting the demand for private vehicles, such as bikes, which in turn could upsurge demand by the end of 2020.

The smart connected motorcycle is becoming a sensor-laden mobile Internet of Things (IoT) device, with significant on-board computing communication and power systems devoted to three broad areas: engine diagnostics and vehicle (telematics), vehicle location, driver behavior; the vehicle's occupants (infotainment); and the surrounding environment (V2X communication). All of these systems use increasingly 5G and cellular technology, among others. These are some of the major factors fueling the growth of the market for connected motorcycle.

Europe dominated the market for connected motorcycles in 2019 due to new customer needs, focused on individual smart mobility, and more demand for the connected motorcycle. In addition, most of the prominent players and component suppliers such as BMW AG, Triumph Motorcycles, Continental AG, Starcom Systems Ltd., and Robert Bosch GmbH belong to Europe, which majorly contributes to the market growth.

By 2027, Asia Pacific is estimated to be the largest market due to high motorcycle sales in the region. Apart from China and India, Southeast Asian countries, including Thailand, Indonesia, and the Philippines, are expected to drive market growth. For instance, the Japan-based component manufacturer Panasonic Corporation with Ficosa International S.A. has started mass production of the Telematics Control Unit (TCU). Moreover, the company announced to supply connectivity services for forthcoming Harley Davidson LiveWire models in 2020. Harley Davidson plans to launch connectivity services for other models from 2020 onwards.

Full Research Report On Connected Motorcycle Market Visit Here: https://www.grandviewresearch.com/industry-analysis/connected-motorcycle-market

Connected Motorcycle Market Report Highlights

• The infotainment service segment is expected to dominate the market and is expected to reach USD 266.1 million by 2027
• The embedded hardware segment is expected to dominate the market due to the growing demand for embedded hardware from the OEMs owing to its non-dependency on external devices. The segment is expected to reach USD 535.2 million by 2027
• The commercial end-user segment is expected to dominate the market and is expected to reach USD 375.6 million by 2027.
• Europe is projected to account for the majority market share and was valued at USD 18.7 million in 2019.

 

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Connected Motorcycle Market Segmentation

Grand View Research has segmented the global connected motorcycle market on the basis of service, hardware, network type, communication type, end-user, and region:

Connected Motorcycle Service Outlook (Revenue, USD Million, 2017 - 2027)

• Driver Assistance
• Infotainment
• Safety
• Vehicle Management & Telematics
• Insurance

Connected Motorcycle Hardware Outlook (Revenue, USD Million, 2017 - 2027)

• Embedded
• Tethered

Connected Motorcycle Network Type Outlook (Revenue, USD Million, 2017 - 2027)

• Cellular V2X (C-V2X)
• Dedicated Short Range Communication (DSRC)

Connected Motorcycle Communication Type Outlook (Revenue, USD Million, 2017 - 2027)

• Vehicle-To-Vehicle (V2V)
• Vehicle-To-Infrastructure (V2I)

Connected Motorcycle End-user Outlook (Revenue, USD Million, 2017 - 2027)

• Commercial
• Private

Connected Motorcycle Regional Outlook (Revenue, USD Million, 2017 - 2027)

• North America
• The U.S.
• Canada
• Europe
• The U.K.
• Germany
• France
• Asia Pacific
• China
• Japan
• India
• Rest of the World

List of Key Players of Connected Motorcycle Market

• BMW AG
• Triumph Motorcycles
• Robert Bosch GmbH
• Panasonic Corporation
• Vodafone Automotive SpA
• Continental AG

About Grand View Research        

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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