Global Connected Motorcycles Market Expected To Reach USD
Newark, NJ, May 3, 2021 (GLOBE NEWSWIRE) – According to the study published by Fior Markets, the global connected motorcycle market is expected to grow at a CAGR of 48.2% from $ 606.362 million in 2020 to $ 883.66 million in 2028 during the forecast period 2021-2028.
The driving factor of this market is the expansion of notability, interest and demand on a global scale. The significant growth of the strategic association between the influential players is one of the major growth factors of the connected motorcycle market for the forecast period 2021-2028. Massive motorcycle sales are expected to dominate the global connected motorcycle market. In addition, connected motorcycles play a very important role in the future by addressing features such as comfort and convenience, information and entertainment, improved performance, safety and security, and lowering costs of maintenance. The limiting factor for this market is the lack of infrastructure that supports or has limited availability of IoT in the Middle East and developing countries. This point is slowing the expansion of the global connected motorcycle industry.
The Connected Motorcycle is a modern two-wheel drive automation to enable intelligent and excellent mobility. IoT devices are provided in vehicles for good internet connection and easy data exchange. These motorcycles will allow passengers to follow four basic areas of the bike: sharing of riding data, cargo, bike status, alarm and, finally, upgrades and updates to the bike. system. Providing these network software, with two wheels using compatible solutions, can make bicycle riding comfortable and safe. Vehicle information technology has created new revenue opportunities for OEMs and third-party service providers. On-board sensors collect essential vehicle information, such as speed, trip location, flight information, and parking locations. OEMs analyze this data and profile passengers based on their driving behavior. This data can facilitate the warranty claim process.
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This market is dominated by some major players such as Panasonic Corporation (Japan), Robert Bosch GmbH (Germany), BMW Motorrad (Germany), Starcom Systems (UK), Vodafone (UK), Autotalks (Israel), Continental AG (Germany) KPIT (India) and TE Connectivity (Switzerland). New developments in products, collaborations, contracts, agreements, a wide range of services and a strong global network help these companies to maintain their position.
Adventure Connected Motorcycle is expected to post the highest share in the forecast period.
The typical segment includes sport, touring, roadster, heritage and adventure. The adventure motorcycle market is expected to reach significant value by the end of 2028. The increase in investment has played a major role in the growth of the market. The presence of several large companies operating in the global arena will give impetus to the growth of the market. Large companies in the global connected adventure motorcycle market are increasingly focusing on R&D activities to create new products and innovative to stay ahead of the competition. For example, Hankook recently unveiled its non-pneumatic tire, iFlex, which eliminates the need for air pressure and the company claims it performs better than conventional tires.
V2V communication is expected to account for the highest share of the forecast period.
The communication segment includes V2V and V2I. Vehicle-to-vehicle (V2V) communication technology has a major impact on vehicle safety. This type of vehicle-to-vehicle communication helps motorcycles access information about the location and speed of other V2V-enabled vehicles around them using a similar protocol. This data can be used to alert passengers to potential dangers, thus helping to reduce traffic jams and accidents. Vehicle-to-vehicle communication technology has the potential to make cycling a safer and more predictable activity for everyone on the road; this is expected to increase market growth.
The infotainment service sector is expected to account for the highest share during the forecast period.
The services segment includes driver assistance, security, vehicle management and telematics, infotainment and insurance. Infotainment is further segmented into turn-based navigation, music controls, calls and messages. Motorcycle navigation systems can be connected to smartphones using a headset or headset via Bluetooth and provide audio instructions to passengers.
The on-board hardware segment is expected to account for the highest share over the forecast period.
The hardware segment includes embedded and attached. The integrated communication module or on-board hardware includes electronic control unit, GSM module, GLONASS / GPS and other basic sensors. The growing demand for on-board peripherals from OEMs is due to their lack of dependence on external peripherals.
The commercial segment should appear as the highest share of the forecast period.
The end user segment is divided into private and commercial segments. Compact and connected motorcycles help educate the rider about vehicle maintenance to reduce unexpected bike breakdowns. This key factor is driving end user demand for commercial use, which is expected to increase significantly over the forecast period. New collaborations involving telecom operators, tech companies, government policymakers, suppliers and automakers ensure a more connected motorcycle experience while improving safety and security through technological innovations.
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The V2X cellular network type segment (C-V2X) should appear as the highest share of the forecast period.
Based on the network segment, the connected motorcycles market is divided into cellular (C – V2X) and dedicated short range (DSRC) communications. Cellular V2X is a modern cellular communication technology, which includes low latency, multi-input output (MIMO) and beamforming, downlink speeds of around 100Mbps, carrier aggregation increases bandwidth channel and many other features.
Regional segment analysis of connected motorcycles market
- Europe (Germany, France, United Kingdom, Italy, Spain, Sweden)
- Asia-Pacific (China, Japan, India, rest of APAC)
- South America (Brazil and rest of South America)
- North America (United States, Canada, Mexico)
- Middle East and Africa (UAE, South Africa, rest of MEA)
On the basis of geography, the global market has been divided into Europe, Asia-Pacific, North America, South America, Africa, and Middle East, which also includes regional and country-level analysis of the market. The Europe region is expected to exhibit the highest share of the connected motorcycles market during the forecast period.
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About the report:
The global connected motorcycle market is analyzed on the basis of value (billion USD). All segments were analyzed globally, regionally and nationally. The study includes an analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges to get the key insights of the market. The study includes the carrier’s five force model, attractiveness analysis, commodity analysis and competitor position grid analysis.
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