Connected Motorcycle Market Worth $912 Million by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Jan. 13, 2020 /PRNewswire/ -- According to the new market research report "Connected Motorcycle Market by Service (Driver Assistance, Safety, Vehicle Management & Telematics, Infotainment, Insurance), Network (Cellular, DSRC), Calling Service (eCall, bCall), End User, Communication, Hardware, and Region - Global Forecast to 2027", published by MarketsandMarkets™, the Connected Motorcycle Market is projected to grow from USD 39 million in 2019 to USD 912 million by 2027, at a CAGR of 48.3%. The increasing focus on advanced safety and driver assistance features for motorcyclists would drive the Connected Motorcycle Market. The demand for telematics-based vehicle management services is expected to rise with growing preference for high-performance motorcycles.

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Embedded hardware is expected to be the largest segment of the Connected Motorcycle Market

The embedded hardware segment is expected to be the largest market during the forecast period. The embedded connectivity module comprises a GPS/GLONASS system, a GSM (global system for mobile communication) module, electronic control unit, and other necessary sensors. It can operate without the help of external devices. The embedded system connects to other vehicles and road infrastructures using cloud technologies. Cellular (LTE or 5G) driven embedded hardware is expected to be more reliable than tethered hardware. Hence, the commercialization of real-time safety features will rely on future developments in embedded systems. For instance, Motorcycle Approach Indication (MAI) is a key feature for riders. This feature relies heavily on accurate onboard GPS unit and fast communication systems. Embedded hardware is superior to tethered hardware. The connectivity system cannot depend on smartphones or other inferior quality dongles for real-time safety features. Hence, embedded hardware will be a preferred choice of motorcycle manufacturers to offer reliable safety features in the future.

Driver assistance is expected to lead the Connected Motorcycle Market

Driver assistance systems are a key feature of motorcycle connectivity services. These systems warn and alert the rider to avoid a possible accident or reduce travel time by adjusting the speed. Driver assistance systems are designed to help the rider maneuver with ease for a pleasant riding experience. These systems include features such as traffic light violation warning, in-vehicle signage, lane change warning, green light optimized speed advisory, and traffic jam warning. The need for optimization of traffic flow in urban areas to reduce congestion and mitigate fatal accidents is expected to boost the demand for driver assistance services in motorcycles. Governments of major countries have partnered with car manufacturers and road infrastructure developers to establish an intelligent traffic management system to analyze real-time information. Governments are now installing connected infrastructures to allow communication among road users to optimize traffic flow in urban areas.

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Asia Pacific is expected to be the largest market by 2027

By 2027, Asia Pacific is expected to be the largest market for connected motorcycles because of its high motorcycle sales. Motorcycle sales in the region are higher than combined motorcycle sales in all other regions. In 2016, India surpassed China to become the largest motorcycle market in the world. While embedded systems are complex and costly to incorporate, tethered systems would be a preferred choice of OEMs in this region. Apart from India and China, Southeast Asian countries such as Philippines, Indonesia, and Thailand are expected to have a significant share of the market. As budget motorcycles dominate the market in these countries, affordable tethered system is expected to be included in the upcoming connected motorcycles.

The Connected Motorcycle Market is dominated by global players such as Panasonic Corporation (Japan), Robert Bosch GmbH (Germany), BMW Motorrad (Germany), Starcom Systems (UK), Vodafone (UK), Autotalks (Israel), and Continental AG (Germany). These companies develop new products, adopt expansion strategies, and establish collaborations, partnerships, and mergers & acquisitions to gain traction in the Connected Motorcycle Market.

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