Connected Motorcycle Market

Connected Motorcycle Market Size (2023 – 2028)

The Global Connected Motorcycle Market has been valued at US$ 60 million in 2022 and it is expected to reach a high market capitalization of US$ 400 million by 2028, and it is anticipated to grow with a healthy CAGR of 37.72% over 2023-2028.

Market Overview:

The automotive industry is undergoing substantial technological advancements in manufacturing methods, design, electronics, and other areas on a world scale. Connected bikes are technologically advanced motorcycles that are equipped with internet of things (IoT) devices and driven by AI (AI), allowing users to possess a seamless internet connection while also having intelligent and smart mobility. Comfort and safety features like thermal management and complex lighting, tire pressure monitoring, keyless bike start, and emergency calls are all monitored by the connectivity system in these motorcycles. Riders may monitor critical areas like bike status, riding statistics, system upgrades and updates, battery charging, and other warnings using technologically advanced systems (such as GPS, safety, and security systems). The mechanism is controlled by the rider via the dashboard.

Devices, machines, and objects may all hook up with 5G networks at rapid speeds. As this network becomes more widely used, motorcycles are going to be safer and communications are more reliable. Furthermore, 5G technology reduces air latency by around one millisecond, with a speedier response to device requests. additionally, a variety of telecom companies are developing enhanced 5G networks to facilitate communication between motorcycles and external equipment.

Market Drivers:

Increasing adaptation of technological advancement is anticipated to drive the worldwide Connected Motorcycle Market During the Forecast Period. Smartphones have altered the meaning of connection throughout time. Even when traveling, people want to remain connected to the surface world. Connectivity has become a primary focus in recent years, and automakers are using connectivity solutions to spice up sales. The rising hope of linked motorcycles has been stressed by a variety of well-known companies. Several connectivity solutions are implemented into the newest motorcycles that need internet connectivity to function properly. to collect all mobility information, the connected devices include a built-in GPS, SIM card, and accelerometer. Biosensors are installed on IoT-enabled motorcycles to observe riders' health and reduce traffic accidents. Multinational corporations use the net of Things to form mobile applications that connect motorcycles, owners, and repair facilities. These motorcycle technology advancements are expected to spice up the connected motorbike market's growth.

Increased target providing security features is additionally one of the Driving factors that are expected to drive the world Connected Motorcycle Market During the Forecast Period. Connected motorcycles are equipped with a high-tech system that will read the route and channel warnings about road curves, potholes, traffic, buildings, and other hazards.

Market Restraints:

The Larger risk of Data Tampering/Hacking is one of the restraining factors that are expected to hamper the Global Connected Motorcycle Market During the Forecast Period. The use of connected motorcycle technology is expected to improve traffic flow and safety. It does, however, represent a possible concern from fraudsters and hackers. Because of the increasing complexity of communications and software flaws, these motorcycles are extremely vulnerable to cyber-attacks. Furthermore, adequate safety and security measures, as well as effective and robust network security solutions, are required because network infractions can result in data loss, a reduction in vehicle safety, and even accidents. It also includes GPS capabilities for locating and giving high-accuracy navigation to motorcyclists. As a result, anyone with public access to GPS satellite data can influence the vehicle's trajectory and steer the rider in the wrong way. The rider's safety and security are jeopardized as a result of this. As a result, data hacking may limit the market's growth.

Market Recent Developments:

• Honda Announces a Broad Electrification Initiative. Honda intends to introduce 30 electric vehicles around the world and create the potential to produce more than 2 million EVs per year.
• In Indonesia, Yamaha is pursuing a competitive advantage with its "connected bikes." Yamaha Motor, the world's third-largest motorbike manufacturer, is boosting up marketing efforts to recruit new customers, primarily in Asia's largest markets, such as Indonesia and India.

CONNECTED MOTORCYCLE MARKET REPORT COVERAGE:

Market Segmentation:

Connected Motorcycle Market - By Propulsion Type:

• IC-Engine.
• Electric.

Internal Combustion Engines are expected to hold the dominant share in the Global Connected Motorcycle Market During the Forecast Period. Internal Combustion Engines bikes have a large market share and offer a wide range of conventionally fuelled motorcycles, allowing major companies to gain a significant share of the global market.

Electric Propulsion Systems are expected to register the highest CAGR in the Global Connected Motorcycle Market During the Forecast Period. This trend can be traced back to the fast-developing problem of automotive emissions, as well as a growing public awareness of the importance of environmental preservation. In addition, the market is likely to benefit from increased government investment in the development of electric vehicle charging infrastructure. Furthermore, major competitors are developing electric motorcycles with great torque and power to meet the growing demand for high-performance and long-distance riding.

Connected Motorcycle Market - By Service Type:

• Drive Assistance.
• Infotainment.
• Safety.
• Insurance.
• Vehicle Management.
• Telematics.

Drive Assistance is expected to have the dominant share in the Global Connected Motorcycle Market During the Forecast Period. The significant development in demand for warning and alert systems to moderate speed and minimize possible road fatalities and crashes is credited with this supremacy. According to World Health Organization (WHO) data, cyclists, motorcyclists, and pedestrians account for the majority of total road fatalities. Lane change indications, traffic jam warnings, onboard signage, green light augmented speed recommendations, and other driver aid features are available. The creation and design of these systems are focused on making it as simple as possible for end-users to operate and enjoy a pleasant bike riding experience. As a result, these advances are projected to rise significantly in the next years.

Connected Motorcycle Market - By Connectivity Type:

• Integrated.
• Embedded.
• Tethered.

The Embedded systems are expected to have the dominant share in the Global Connected Motorcycle Market During the Forecast Period. due to increased demand in the automobile industry, as well as increased usage due to its lack of reliance on external devices A GSM module, electronic control unit, GPS, and other sensors are all part of the integrated connection module. Integrating cloud technologies into embedded hardware to link with other vehicles and road infrastructure could help it gain a competitive advantage in the market. Furthermore, embedded hardware's cellular capabilities are more important than its durability. The demand for embedded connectivity is growing as connected systems (such as vehicle GPS units) and other quick communication systems become more reliant on real-time security.

Connected Motorcycle Market - By Communication Type:

• Vehicle to Vehicle.
• Vehicle to Infrastructure.

Vehicle to Vehicle is expected to have the dominant share in the Global Connected Motorcycle Market During the Forecast Period. This is owing to considerable improvements in the safety of cars equipped with communication systems. Furthermore, they are built in accordance with government guidelines and do not rely on external networking equipment for connectivity. Motorcycles that use comparable protocols to get information about the position and speed of other V2V-enabled motorcycles around them can benefit from V2V communication. This information can alert motorcyclists to potential dangers and aid in the reduction of traffic congestion and accidents. This technology will allow bikers to travel safely and predictably throughout their route, resulting in increased market growth.

Vehicle to Infrastructure is expected to have the next dominant share in the Global Connected Motorcycle Market During the Forecast Period. Because more individuals are becoming aware of the limitations of V2V communication and newly constructed V2I infrastructure, the vehicle-to-infrastructure (V2I) communication type sector may increase quicker. This technology lets automobiles connect with road infrastructure, other vehicles, and other road users, allowing riders to avoid collisions and dangerous situations.

Connected Motorcycle Market - By Network Type:

• Cellular V2X.
• Dedicated Short-Range Communication.

Cellular V2X is expected to have the dominant share in the Global Connected Motorcycle Market During the Forecast Period. Cellular V2X is a sophisticated cellular communication system with low latency, beamforming, and multiple-input multiple-output (MIMO), a downlink speed of around 100Mbps, and transporter aggregation, which enhances channel bandwidth and performs a variety of additional purposes. Direct device-to-device communication is possible with the cellular V2X network. It supports operations even at greater vehicle speeds in locations with limited network coverage, allowing for faster communications between roadside infrastructure and vehicles.

Market Regional Analysis:

The Global Connected Motorcycle Market Report includes the segmentation of regions:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Asia-Pacific is expected to have the dominant share in the Global Connected Motorcycle Market During the Forecast Period. The region's expanding urbanization and tremendous growth in motorbike sales over the previous two decades have contributed to this supremacy. The Society of Indian Automobile Manufacturers (ISAM) reports that two-wheeler sales in India have increased significantly. The Indian motorcycle industry is the world's largest market for motorcycles. The region's market is likely to be boosted by the continued development of Japanese OEMs such as Kawasaki, Yamaha, Honda, and Suzuki.

Europe is expected to have the next dominant share in the Global Connected Motorcycle Market During the Forecast Period. Leading market companies such as Robert Bosch GmbH, BMW AG, KTM AG, and Triumph Motorcycles have substantial positions in the region.

North America is expected to see a rise in the demand in the Global Connected Motorcycle Market During the Forecast Period. Because of the high demand for a wide range of motorcycles such as standard, sports, cruisers, and touring, North America owns a considerable portion of the market, fuelling growth in this area. In the next years, the regional market will benefit from increased usage of new technologies such as 5G connectivity.

Market Key Players::

1. AERIS
2. AUTOTALKS LTD.
3. BMW AG
4. HERO MOTOCORP LTD
5. KAWASAKI HEAVY INDUSTRIES, LTD.
6. KTM AG (PIERER MOBILITY AG)
7. ROBERT BOSCH GMBH
8. TRIUMPH MOTORCYCLES
9. YAMAHA MOTOR CO., LTD
10. ZERO MOTORCYCLES, INC.