The global connected motorcycle market is projected to grow from USD 35.6 million in 2020 to USD 304.1 million by 2027, at a CAGR of 39.6 %. 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.
This technology collects and records information, which can be accessed by the end-user from anywhere. In addition, end-users can monitor the real-time performance of their motorcycle. In 2020, the market is expected to have a noteworthy impact due to the COVID-19 pandemic. The stringent measures and recent lockdown to contain the COVID-19 pandemic have paralyzed motorcycle retail business activity across the world. The pandemic has rigorously disrupted supply chains and manufacturing operations. This situation is particularly challenging for motorcycle manufacturers and dealers. However, the fear of public transportation is anticipated to motivate some customers to commit to purchasing motorcycles in 2020-21.
Additionally, vehicle telematics has opened new growth opportunities for third-party service providers and OEMs. The on-board sensors store necessary motorcycle information such as parking locations, trip information, riding mode, and speed, among others. The manufacturers can analyze this data and profile end-users according to their driving history. This data may be useful for manufacturers for the warranty claim process. Moreover, manufacturers can notify the consumer about the latest service maintenance to avoid costly repairs.
Innovations in the automobile industry have paved the way for a better and improved vehicle with security and safety features which has contributed to the market growth. However, the high cost of connected motorcycles and the systems limit the buyer's group to consumers with higher spending capacity, which may also hinder the connected motorcycle market growth over the forecast period. The price of the connected motorcycle is expected to fall further and come at par with other competing technologies once the demand picks up.
Moreover, the increasing trend of long-distance bike riding and rising preference for off-road biking is expected to boost motorcycle industry growth in the coming years. Additionally, the growing demand for electric motorcycles, which is one of the new state-of-the-art technologies in the two-wheeler industry, is anticipated to drive the market growth. Also, prominent market players are involved in the development of smartphone applications to enhance vehicular connectivity. For instance, mySPIN two-wheelers is a smartphone integration solution for motorcycles compatible with Android and iOS apps.
The global connected motorcycle market is dominated by 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), TE Connectivity (Switzerland), and many others.
The Asia Pacific region comprises major motorcycle markets such as China, India, Indonesia, Philippines, and Vietnam. The region accounted for more than 90% of the global motorcycle sales in 2018. Increasing developments by Japanese OEMs such as Honda, Yamaha, Suzuki, and Kawasaki would drive the connected motorcycle market in the region. For instance, Yamaha launched its TMAX SX and TMAX DX scooters with connectivity services provided by Vodafone. These services help riders gauge vehicle performance with a dedicated Smartphone application. Yamaha is expected to incorporate this technology in other models. The Japanese component manufacturer Panasonic has started mass production of telematics control units, co-developed with Ficosa International S.A. The company will supply connectivity services for upcoming Harley Davidson LiveWire models in 2020. Harley plans to roll out connectivity services for other models from 2020 onwards.
The Asia Pacific region comprises major motorcycle markets such as China, India, Indonesia, Philippines, and Vietnam. The region accounted for more than 90% of the global motorcycle sales in 2018. Increasing developments by Japanese OEMs such as Honda, Yamaha, Suzuki, and Kawasaki would drive the connected motorcycle market in the region. For instance, Yamaha launched its TMAX SX and TMAX DX scooters with connectivity services provided by Vodafone. These services help riders gauge vehicle performance with a dedicated Smartphone application. Yamaha is expected to incorporate this technology in other models. The Japanese component manufacturer Panasonic has started mass production of telematics control units, co-developed with Ficosa International S.A. The company will supply connectivity services for upcoming Harley Davidson LiveWire models in 2020. Harley plans to roll out connectivity services for other models from 2020 onwards.
This technology collects and records information, which can be accessed by the end-user from anywhere. In addition, end-users can monitor the real-time performance of their motorcycle. In 2020, the market is expected to have a noteworthy impact due to the COVID-19 pandemic. The stringent measures and recent lockdown to contain the COVID-19 pandemic have paralyzed motorcycle retail business activity across the world. The pandemic has rigorously disrupted supply chains and manufacturing operations. This situation is particularly challenging for motorcycle manufacturers and dealers. However, the fear of public transportation is anticipated to motivate some customers to commit to purchasing motorcycles in 2020-21.
Additionally, vehicle telematics has opened new growth opportunities for third-party service providers and OEMs. The on-board sensors store necessary motorcycle information such as parking locations, trip information, riding mode, and speed, among others. The manufacturers can analyze this data and profile end-users according to their driving history. This data may be useful for manufacturers for the warranty claim process. Moreover, manufacturers can notify the consumer about the latest service maintenance to avoid costly repairs.
Innovations in the automobile industry have paved the way for a better and improved vehicle with security and safety features which has contributed to the market growth. However, the high cost of connected motorcycles and the systems limit the buyer's group to consumers with higher spending capacity, which may also hinder the connected motorcycle market growth over the forecast period. The price of the connected motorcycle is expected to fall further and come at par with other competing technologies once the demand picks up.
Moreover, the increasing trend of long-distance bike riding and rising preference for off-road biking is expected to boost motorcycle industry growth in the coming years. Additionally, the growing demand for electric motorcycles, which is one of the new state-of-the-art technologies in the two-wheeler industry, is anticipated to drive the market growth. Also, prominent market players are involved in the development of smartphone applications to enhance vehicular connectivity. For instance, mySPIN two-wheelers is a smartphone integration solution for motorcycles compatible with Android and iOS apps.
The global connected motorcycle market is dominated by 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), TE Connectivity (Switzerland), and many others.
The Asia Pacific region comprises major motorcycle markets such as China, India, Indonesia, Philippines, and Vietnam. The region accounted for more than 90% of the global motorcycle sales in 2018. Increasing developments by Japanese OEMs such as Honda, Yamaha, Suzuki, and Kawasaki would drive the connected motorcycle market in the region. For instance, Yamaha launched its TMAX SX and TMAX DX scooters with connectivity services provided by Vodafone. These services help riders gauge vehicle performance with a dedicated Smartphone application. Yamaha is expected to incorporate this technology in other models. The Japanese component manufacturer Panasonic has started mass production of telematics control units, co-developed with Ficosa International S.A. The company will supply connectivity services for upcoming Harley Davidson LiveWire models in 2020. Harley plans to roll out connectivity services for other models from 2020 onwards.
The Asia Pacific region comprises major motorcycle markets such as China, India, Indonesia, Philippines, and Vietnam. The region accounted for more than 90% of the global motorcycle sales in 2018. Increasing developments by Japanese OEMs such as Honda, Yamaha, Suzuki, and Kawasaki would drive the connected motorcycle market in the region. For instance, Yamaha launched its TMAX SX and TMAX DX scooters with connectivity services provided by Vodafone. These services help riders gauge vehicle performance with a dedicated Smartphone application. Yamaha is expected to incorporate this technology in other models. The Japanese component manufacturer Panasonic has started mass production of telematics control units, co-developed with Ficosa International S.A. The company will supply connectivity services for upcoming Harley Davidson LiveWire models in 2020. Harley plans to roll out connectivity services for other models from 2020 onwards.
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