The Connected Motorcycle Market size is estimated to grow from USD 54.7 Million in 2020 to USD 917 Million by 2027, growing at a CAGR of 49.6% during the forecast year from 2021 to 2027.
Latest added Connected Motorcycle Market research study by MarketDigits offers detailed product outlook and elaborates market review till 2026. The market Study is segmented by key regions that is accelerating the marketization. At present, the market is sharping its presence and some of the key players in the study are Continental AG, Starcom Systems LTD, Vodafone, BMW Group, TE Connectivity, Panasonic Corporation. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.
This report studies the Connected Motorcycle Market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the Connected Motorcycle Market by companies, region, type and end-use industry.
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Scroll down 100s of data Tables, charts and graphs spread through Pages and in-depth Table of Content on “Connected Motorcycle Market, By Service (Driver Assistance, Infotainment, Safety, Vehicle Management, Telematics, Insurance), Hardware, Network Type, Communication Type, End-user & Geography – Global Forecast To 2027”. Early buyers will get 10% customization on study.
To Avail deep insights of Connected Motorcycle Market Size, competition landscape is provided i.e. Revenue Analysis (M $US) by Company (2018-2020), Segment Revenue Market Share (%) by Players (2018-2020) and further a qualitative analysis is made towards market concentration rate, product/service differences, new entrants and the technological trends in future.
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The connected motorcycle market size is estimated to grow from USD 54.7 Million in 2020 to USD 917 Million by 2027, growing at a CAGR of 49.6% during the forecast year from 2021 to 2027. Growing consumer demand for safety and driver assistance features for a comfortable and safe riding experience would drive the market for connected motorcycles.
The commercial segment is expected to be the largest connected motorcycle market during the forecast period
Vehicle telematics has created new revenue opportunities for OEMs and third-party service providers. The on-board sensors collect essential vehicle information such as speed, riding mode, trip information, and parking locations. OEMs analyze this data and profile riders according to their driving behavior. This data can ease the warranty claim process. OEMs can void warranty if the rider has intentionally violated warranty regulations by over-speeding or using wrong driving modes. Also, OEMs can inform the rider about upcoming service maintenance to avoid costly repairs. This data is also useful for third-party service providers. They can use vehicle data to offer tailormade services for riders.
Cellular V2X will have a major share in the connected motorcycle market during the forecast period
Cellular V2X network facilitates fast connectivity between vehicles and roadside infrastructure. Earlier, the LTE (Long-Term Evolution) 3GPP release 13 did not support V2X due to its low speed and high latency. Hence, vehicles in poor network coverage areas were not able to communicate. Subsequently, the LTE release 14 included much-needed support for V2X. It provides direct device-to-device communication and supports operation in areas with poor network connectivity even in higher vehicle speeds.
The increasing availability of 5G would be instrumental for the growth of cellular-based V2X communications. According to experts, the mass commercialization of connected motorcycles relies on the future availability of 5G technology. 5G-based cellular communication meets the requirements of reliability, scalability, and mobility support. Ducati, Ford, Audi, and Qualcomm demonstrated C-V2X direct communication technology at the CES 2019. Audi and Ford along with Ducati Multistrada 1260 motorcycles are equipped with Qualcomm¡¯s 9150 C-V2X chipset. More such collaborations would foster the growth of cellular-based communication in vehicles.
Asia Pacific is expected to be the fastest-growing connected motorcycle market during the forecast period
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, codeveloped 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.
Key Market Players
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. These companies have secure distribution networks at a global level. Also, these companies offer a wide range of products and services for connected motorcycles in the market. The key strategies adopted by these companies to sustain their market position are new product developments, collaborations, and contracts & agreements.
Based on service:
- Driver assistance
- Vehicle management & telematics
Based on hardware:
Based on network type:
- Cellular V2X
- Dedicated short range communication
Based on communication type:
Based on end user:
Based on calling service:
Based on region:
- Asia Pacific
- North America
- Latin America
- Rest of the World
The base year for calculation in this Connected Motorcycle Market business report is taken as 2020 while the historic year is 2019 which will tell how the market will perform in the forecast years by informing what the market definition, classifications, applications, & engagements are. This Connected Motorcycle Market report is also all-embracing of the data which covers market definition, classifications, applications, engagements, market drivers & market restraints that are based on the SWOT analysis. A large scale Connected Motorcycle Market report is a comprehensive study about the market which tells about the market status in the forecast period of 2021-2027.
What Porter’s Five Forces of Competitive Analysis Provides?
Competitive rivalry:- The main driver is the number and capability of competitors in the market. Many competitors, offering undifferentiated products and services, will reduce market attractiveness.
Threat of substitution:- Where close substitute products exist in a market, it increases the likelihood of customers switching to alternatives in response to price increases. This reduces both the power of suppliers and the attractiveness of the market.
Threat of new entry:- Profitable markets attract new entrants, which erodes profitability. Unless incumbents have strong and durable barriers to entry, for example, patents, economies of scale, capital requirements or government policies, then profitability will decline to a competitive rate.
Supplier power:- An assessment of how easy it is for suppliers to drive up prices. This is driven by the: number of suppliers of each essential input; uniqueness of their product or service; relative size and strength of the supplier; and cost of switching from one supplier to another.
Buyer power:- An assessment of how easy it is for buyers to drive prices down. This is driven by the: number of buyers in the market; importance of each individual buyer to the organisation; and cost to the buyer of switching from one supplier to another. If a business has just a few powerful buyers, they are often able to dictate terms.
Five forces analysis helps organizations to understand the factors affecting profitability in a specific industry, and can help to inform decisions relating to: whether to enter a specific industry; whether to increase capacity in a specific industry; and developing competitive strategies.
The country section of the report also provides individual market impacting factors & changes in regulation in the market domestically that impacts the current & future trends of the market. Data points such as consumption volumes, production sites & volumes, import export analysis, price trend analysis, cost of raw materials, down-stream & upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence & availability of global brands & their challenges faced due to large or scarce competition from local & domestic brands, impact of domestic tariffs & trade routes are considered while providing forecast analysis of the country data.
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