Shared Motorcycle Market will reach at $ USD 121.23 million by 2032, Booming Worldwide With Leading Key Players -Mei Tuan, Hello, Me Bike, Didi, Number-7, Liu Bike, Let Fun Go, Miao Zo

Mr Accuracy Reports announces the release of the report 'The global connected motorcycle market size was valued at USD 43.9 million in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 58.4% from 2020 to 2032. This market will reach at $ USD 121.23 million by 2032. The automotive sector is witnessing technological advancements in design, electronics, and manufacturing processes across the world. The connected motorcycle is the latest technology integrated into motorcycles to offer intelligent and smart two-wheeler mobility. The rider can monitor various key areas of the motorcycle such as bike status and alerts, battery charging, system upgrades, and updates, and ride data. Furthermore, the increasing customer demand for driver assistance and safety features for a safe and comfortable riding experience is expected to drive the market demand. Connected motorcycles have technologically advanced systems such as GPS, safety, and security system that predominantly read the road and offers alerts to the bike rider for road curves, obstacles, traffic, or potholes.

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Service Insights
The infotainment service segment led the market and accounted for more than 30.0% share of the global revenue in 2019. By service, the market is segmented into vehicle management & telematics, infotainment, safety, driver assistance, and insurance. Infotainment service includes features such as turn-by-turn navigation, calls and messages, and music controls, among others. The motorcycle navigation systems can be connected with smartphones to the helmet or headset through Bluetooth and offer audible directions to the commuter. Such developments are projected to foster a positive influence on the infotainment service market.

The market was studied across External Shared Motorcycle and Internal Shared Motorcycle based on Category. Report provides a basic overview of the industry including definitions, classifications, applications and Shared Motorcycle industry chain structure. Top Companies in this report are: Mei Tuan, Hello, Me Bike, Didi, Number-7, Liu Bike, Let Fun Go, Miao Zo

Hardware Insights
The embedded hardware segment led the market and accounted for more than 70.0% share of the global revenue in 2019. By hardware, the market is segmented into embedded and tethered. The embedded connectivity module includes an electronic control unit, a GSM module, a GLONASS/GPS system, and other essential sensors. The growing demand for embedded hardware from the OEMs due to its non-dependency on external devices, in turn, is further expected to drive market growth.

Additionally, the growing dependency on connectivity devices such as fast communication systems and an on-board GPS unit for real-time security and safety accelerates the demand for embedded systems. Moreover, the connectivity devices cannot depend on other inferior quality dongles or smartphones for real-time security and safety features. Hence, an embedded connectivity module will be a preferred choice of motorcycle OEMs to provide reliable safety and security features.

End-user Insights
The commercial segment led the market and accounted for more than 50.0% share of the global revenue in 2019. By end-user, the market is segmented into commercial and private. The integrated and connected motorcycles help inform the rider about vehicle maintenance to reduce the bike's unexpected breakdown. This major factor leads to an upturn in demand from the end-user for commercial use, which is expected to witness considerable growth over the next seven years.

Besides, newer collaborations involving telecom operators, technology companies, government policymakers, suppliers, and automobile manufacturers are ensuring a better-connected motorcycle driving experience with enhanced security and safety through technological innovations. However, the private end-user segment is anticipated to grow at a substantial rate over the forecast period. The growth is mainly because of the rise in per-capita income of individuals and comprehensively increasing disposable income in developing and developed nations.

Network Type Insights
The cellular V2X (C-V2X) network type segment led the market and accounted for more than 50.0% share of the global revenue in 2019. Based on the network type, the market can be segmented into cellular V2X (C-V2X) and Dedicated Short Range Communication (DSRC). Cellular V2X is the modern cellular communications technology, which includes low latencies, multiple-input multiple-output (MIMO) and beamforming, downlink speeds of about 100Mbps, carrier aggregation increased channel bandwidths, and many other features. C- V2X network facilitates fast connectivity between roadside infrastructure and vehicles.

Shared Motorcycle Market Segmentation by Type:

No Deposit, Deposit Type.

Shared Motorcycle Market Segmentation by Application:

Subway Station, Bus Stop, Others

Service Outlook (Revenue, USD Million, 2017 - 2027)

Driver Assistance

Infotainment

Safety

Vehicle Management & Telematics

Insurance

Hardware Outlook (Revenue, USD Million, 2017 - 2027)

Embedded

Tethered

Network Type Outlook (Revenue, USD Million, 2017 - 2027)

Cellular V2X (C-V2X)

Dedicated Short Range Communication (DSRC).

Communication Type Outlook (Revenue, USD Million, 2017 - 2027)

Vehicle-To-Vehicle (V2V)

Vehicle-To-Infrastructure (V2I)

End-user Outlook (Revenue, USD Million, 2017 - 2027)

Commercial

Private

Asia Pacific is expected to be the fastest-growing market in 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.

The region is home to some of the most innovative motorcycle manufacturers, such as Honda, Kawasaki, Yamaha, and Suzuki. These OEMs are taking active participation in the Connected Motorcycle Consortium to develop connectivity services for motorcycles. They have already launched bestselling motorcycles in the budget segment with connectivity features. For instance, in October 2020, Yamaha launched its special edition FZS-FI motorcycle which comes with the Connect-X connected motorcycle application. Kawasaki also launched its new connected motorcycle, the Z 650 in May 2020. It comes with a 649-cc drivetrain and liquid-cooled 4 stroke twin engines. Similarly, in September 2021, Suzuki launched GTX 1000, which comes with the Bosch developed mySPIN connected vehicle application. The app provides features like route sharing, weather control, and navigation control, among others.

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Cumulative Impact of COVID-19 on Shared Motorcycle report:

Our ongoing Shared Motorcycle report research amplifies our research framework to ensure the inclusion of underlying COVID-19 issues and potential paths forward. In addition, the updated study provides insights, analysis, estimations, and forecasts, considering the COVID-19 impact on the Shared Motorcycle market.

The Porter Matrix evaluates and categorizes the Shared Motorcycle vendors in the market based on Business Strategy (Industry Coverage, Business Growth, Financial Viability, and Channel Support) and Shared Motorcycle Product Satisfaction (Ease of Use, Product Features, Value for Money, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.

Shared Motorcycle Market Share Analysis: Knowing Shared Motorcycle's market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the Shared Motorcycle market characteristics in accumulation, dominance, fragmentation, and amalgamation traits.

The report answers questions such as:

What is the Shared Motorcycle market size and forecast of the Global Market?
What are the inhibiting factors and impact of COVID-19 shaping the Global Shared Motorcycle Market during the forecast period?
Which products/segments/applications/areas to invest in over the forecast period in the Global Shared Motorcycle Market?
What modes and strategic moves are suitable for entering the Global Shared Motorcycle Market?
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