Connected Motorcycle Industry Revenue, Trend and Forecast to 2030

Posted November 3, 2021 by Rahul_Gautam

Rising Road Fatalities Fueling Connected Motorcycle Demand
According to the World Health Organization (WHO), over 1.35 million deaths are caused due to road accidents globally. About 93% of these deaths occur in low-and middle-income countries, even though they only possess around 60% of the world's automobiles. Since a large number of bikers are involved in these accidents, bike manufacturers are being coerced to integrate advanced rider-assistance systems to improve their safety. In an attempt to minimize road accident cases, motorcycle manufacturers and road safety authorities are focusing on connected motorcycles, as these offer enhanced safety features.

Moreover, the surging penetration of sports and luxury bikes in emerging economies, such as India and China, and other nations of Asia-Pacific (APAC) and Latin America, Middle East, and Africa (LAMEA) will result in the progress of the connected motorcycle market during 2020–2030. The increasing adoption of these two-wheelers is due to the rising per capita income and soaring purchasing power of the people in these regions. Besides, the rising integration of artificial intelligence (AI) with the internet of things (IoT) will also amplify the use of connected motorcycles, as these technologies offer increased safety and better strategic management.

The burgeoning need for connected motorcycles is being met by original equipment manufacturers (OEMs) such as Honda Motor Co. Ltd., BMW Motorrad (brand of Bayerische Motoren Werke AG), Triumph Motorcycles, Suzuki Motor Corporation, Kawasaki Motors, KTM AG, and Yamaha Motor Co. Ltd. These OEMs are collaborating with software and communication technology providers, including Autotalks Ltd., Würzburger Institut für Verkehrswissenschaften GmbH (WIVW), Alps Alpine Co. Ltd., and Alpinestars S.p.A., to improve their bike models with enhanced safety features and attract more customers.

Of OEMs and third-party solution providers, the former offer more solutions than the latter. This is because OEMs analyze vital information such as riding mode, parking location, speed, and profile of the drivers as per their driving behavior. With these details, OEMs can notify the drivers about upcoming service maintenance and provide tailor-made services and warranty. OEMs are essentially involved in the development of vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) solutions to improve the communication and safety features of motorcycles.

According to P&S Intelligence, the APAC connected motorcycle market will witness the fastest growth in the coming years. This can be credited to the surging integration of connected features in the sports and luxury motorcycles being sold in the region. Moreover, the strong presence of motorcycle manufacturers in China and India, owing to the abundant raw materials, cheap labor, constant technological advancements, and relaxed government regulations, will boost the production of connected motorcycles. For instance, 10,020,000 motorcycles were sold in India during Financial Year 2020–2021, many with connected features.

Thus, the increasing adoption of sports and luxury bikes and growing concerns regarding road accidents and fatalities will boost the integration of connected features in motorcycles in the coming years.
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By Rahul Gautam
Phone +1-888-778-7886
Business Address 347, 5th Ave. #1402 New York City, NY - 10016
Country United States
Categories Automotive , Business , Industry
Tags asia connected motorcycle market r , connected motorcycle market r , us aconnected motorcycle market r
Last Updated November 3, 2021