Press release
Connected Motorcycle Market Revenue Growth Defined by Heightened Product Innovation
Connected Motorcycle Market
According to a study of Research Dive,the global connected motorcycle market fore castshallcross $545.3million by 2026, growing at a CAGR of 46.4%.
The extensivelyrising sales of premiumbikes with safety features and comfort is expected tofuel the connected motorcycle market, during the projected period. Global automotive key players, governments, and consumers havebecome considerably aware of the significance of the connected motorcycle. This will help to propel the connected motorcycle marketgrowth in the global market.Moreover, the rising popularity ofmotorcycle equipped with advancedIoT technologyis also projected to augment the growth of the connected motorcycle market.Connected motorcycles have the benefit of being more efficient and sophisticated; also connected motorcyclesofferexcellent drivingexperience,automotive infotainment, convenience, road-safety, minimization in maintenance cost and enhanced performance. These elements are projected to upsurgethe connected motorcycle market growth. However, the lack of interoperability of IoT infrastructure andless availability of connected standards and devices in the developing countries is anticipated to decline the demand for connected motorcycles industry.
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On the other hand, IoT-enabled motorcycles are anticipated to createnoticeablerevenue, during the forecast period.This is majorly because IoT-basedmotorcycles are mainly built with bio-sensors that measure motorcyclists health to avoid road fatalities.Furthermore, the increase in government initiatives towards intellectual transport systems to avoid road accidents will also make positive impact on the connected motorcycles global industry.In addition,established companies are creating an app using IoT for the interconnection between the owner, motorcycles, and the service facility. Also, this highly integrated app allows the motorcycles to send diagnostic information to the mechanic via internet without any interventions of humans. Theseconnected motorcycle market trends are projected to createenormous opportunities for connected motorcycle market, over the forecast period.
The driver assistance segment for the connected motorcycle market is expected to have a significant market share, and it will register a revenue of $10.5 million by 2026, rising at a CAGR of 47.7%, over the forecast period.The recent boom in the development of driver assistance technology is anticipated to fuel the growth of this segment into the global connected motorcycle market. Moreover, market players are utilizing multiple product development techniques to strengthen their footprint in the global market. For instance, BMW Motorrad has designed a self-driving motorcycle with new safety features.
The tethered segment for the connected motorcycle market has a significant growth, and it will register a revenue of $183.5 million by 2026, rising at a CAGR of 47.3%, over the forecast period.This is mainly becausethe tethered safety system includes breakthrough technology designed to protect motorcyclists in a road-crash. Also, this tethered system consists of a removable back protector. They are the fully adjustable, breathable, and, more cost-effective option which provide neck and semi-rigid head protection. This may drive the growth of this segment,during the forecast period.
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The private end-use industry has significant growth, and it shall generate a revenue of $273.6 million by 2026, increasing at a CAGR of 47.2%, over the projected period.Thus, rising popularity of IoT-enabled bike, changing lifestyle and increased purchasing power of people, and enhanced safety are some of the driving factors for the global connected motorcycle market.
Asia-Pacific connected motorcycle market size will have massive growth, and it will surpass $207.2 million by 2026, increasing at a healthy CAGR of 49.0%.The presence of global players, the adoption of technological evolutions,enhanced safety systems and growing popularity for IoT enabled bikes are some of the key factors for the growth of connected motorcycles in the Asian market.Also, rising developments by Chinese and Japanese OEMs are also expected to boost the growth ofthe connected motorcycle market in the Asian region.
The major connected motorcycle market manufacturers areBMW AG, Autotalks Ltd., KPIT, Panasonic Corporation, TE Connectivity, Robert Bosch GmbH, Starcom Systems Ltd, Vodafone Idea Limited, DXC Technology Company., andContinental AG.To elaborate more on the competitive landscape analysis of market players, the porter’s five force model is explained in this report.
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About Us
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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