The report “Connected Motorcycle Market by Hardware (Embedded, Tethered), Calling Service, Communication Type (V2V, V2I), Network Type (C-V2X, DSRC), End-User (Private, Commercial), Service, Motorcycle Type, Application, Propulsion & Region – Global Forecast to 2027″, size is projected to grow from USD 55 million in 2021 to USD 757 million by 2027, at a CAGR of 54.7%.
Factors such as rising premium motorcycle sales around the world, growing demand for motorcycle safety and driver assistance along with growing demand for usage-based insurance and infotainment systems in motorcycles will boost the demand for the connected motorcycle market. The upcoming regulations for rider safety in motorcycles in countries around the world will also boost the market.
Commercial segment is estimated to account for the largest market during the forecast period
Commercial users of connected motorcycles include fleet managers, insurance providers, and other service providers. All these stakeholders rely on real-time vehicle data collected using a tracking device. For instance, a tracking device in a vehicle can be installed under the bonnet or on the windscreen. It collects vehicle data for analysis by a network provider. The network provider then provides information to the insurance provider. Vodafone Automotive offers usage-based insurance for vehicles in partnership with Generali Group. These insurers also offer additional value-added services such as theft alerts, crash assistance, roadside recovery, and emergency services including eCall and bCall. Usage-based insurance reduces the cost of premiums while offering easy claims. An accident/crash scene can be accurately reconstructed using the collected data. Hence, it helps reduce the number of false claims. Companies like Hertz Ride, Bikesbooking, Eagle Rider, Riderly, MdorNomad, RentaRide, Edelweissbike, Indian Motorcycle, and RetroVentures provide motorcycle leasing services for private individuals and corporations. They use connected vehicle features for their ride-hailing services. Many logistics companies also use connectivity services on their motorcycles to enable location tracking and vehicle dynamics for their delivery personnel. This leads to a rise in demand for connected motorcycles in the commercial vehicle sector.
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eCall is estimated to account for the largest market size during the forecast period
The eCall system comprises components such as 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 sensors detect a crash 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 time of the accident, accurate position, and description of the crashed vehicle. The eCall function can be manually triggered in case the rider wants to contact the emergency center. The system is expected to increase the chances of survival in case of fatal crashes. The eCall service providers must comply with the data privacy regulations. According to upcoming EU regulations, the European eCall services will be activated only in case of an accident. Hence, the systems cannot track the vehicle all the time. The eCall services would be beneficial for motorcyclists, which are accident-prone road users.
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.
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“Asia is expected to be the fastest-growing market during the forecast period.”
The Asia Pacific region comprises major motorcycle markets such as China, India, Indonesia, the Philippines, and Vietnam. The region accounted for more than 90% of the global motorcycle sales in 2020. As two-wheelers are a preferred mode of transportation due to affordability and low maintenance, Asian countries such as India, Thailand, Indonesia, and Vietnam have a high motorcycle penetration. Mid and budget-segment motorcycles dominate the market in these countries. However, with a steady increase in disposable income and rising demand for high-performance motorcycles, the region has attracted a number of premium motorcycle manufacturers.
Key Market Players:
The connected motorcycle market is dominated by Major OEMs including Yamaha (Japan), Suzuki (Japan), Kawasaki (Japan), BMW (Germany), and Harley Davidson (US) and component manufacturers include Bosch (Germany) and Continental AG (Germany). Many software providers, 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 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.
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