Connected Motorcycle Market: —
WiseGuyReports.com adds “Global Connected Motorcycle Market Research Report 2020 Analysis and Forecast 2026” reports to its database.
Global Connected Motorcycle Market is valued approximately USD 39 Million in 2019 and is anticipated to grow with a healthy growth rate of more than 48.30% over the forecast period 2020-2027. The connected motorcycles are referred as motorcycles those are equipped with IoT devices offering seamless internet connectivity in motorcycles and data sharing. It is a modern technology incorporated in motorcycles to provide smart and intelligent two-wheeler mobility. The connected motorcycle enables the rider to monitor four major areas of bike which includes ride data sharing, charging, system upgrade & updates and bike status & alerts. As the COVID-19 outbreaks across the globe it affects adversely towards the production of automobiles due to the lockdown in various economies. Whereas, the connected motorcycles are equipped with IoT devices and powered by artificial intelligence which is an advancement in technology equipped in with several electronic systems and devices that can offer easy locate and navigate services and ultimately monitor performance of motorcycles. Due to such advanced features it is creating large demand among customers, therefore, rise in sale of motorcycles across the globe is expected to propel the growth of market over the forecast years. For instance: As per MarkLines Co. Ltd, India is the largest manufacturer of two-wheeler in the world. In India, two-wheeler industry production grew from 23.2 million units in 2018 to 24.5 million units in 2019 and expected to increase up to 50.6 million units till 2026. Similarly, as per the European Association of Motorcycle Manufacturers (ACEM), in Europe, over 1,079,524 motorcycles were registered in 2019 which an increase of over 8% from the year 2018. Italy accounts for the largest share in the motorcycle market with having about 231,712 units of motorcycle in the region, followed by France and Spain that have over 197,470 units and 177,037 units of motorcycles respectively in 2019. In addition, consumer shift towards premium motorcycles and adoption of safety and security features in motorcycles are the prominent factors creating a lucrative thrust to the growth of market. However, Absence of Connected Standards and Uniform Platform is the factor hampering the growth of market over the forecast years.
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The regional analysis of global Connected Motorcycle market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the consumer shift towards premium motorcycle along with adoption of advanced technologies in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as increasing production of motorcycle vehicle in the region along with Consumer Demand for Smartphone Integration and Digital Dashboards would create lucrative growth prospects for the Connected Motorcycle market across Asia-Pacific region.
Major market player included in this report are:
Robert Bosch GmbH
Starcom Systems LTD
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Technology offerings of key players. The detailed segments and sub-segment of the market are explained below:
Ride Sharing Data
By Propulsion Type:
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Connected Motorcycle Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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