Connected Motorcycle Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2028

Published Date : Dec 2020 | No. of Pages : 250 Pages | Category : ICT

The global Connected Motorcycle market size is expected to be worth around US$ 811.5 million by 2028, according to a new report by Vision Research Reports.

The global Connected Motorcycle market size was valued at US$ 38.8 million in 2020 and is anticipated to grow at a CAGR of 48.5% during forecast period 2021 to 2028.

Growth Factors

The growing emphasis on enhanced performance and real-time diagnostics, increasing adoption of security and safety features for a comfortable bike riding experience, and rising preference for premium motorcycles are projected to fuel the market growth.

For the consumer, security and safety are becoming progressively essential buying criteria. Therefore, smartphone-based connected driver assistance services offer one additional unique selling point for motorcycle OEMs to differentiate from competitors. The market for connected motorcycle is projected to grow faster than the overall two-wheeler market as the consumer demand for staying connected safely during the ride is present in all motorcycle segments.

The lockdown situation due to the COVID-19 pandemic is anticipated to impact not only the motorcycle dealers and manufacturers in the automotive industry but also other businesses across the supply chain, including large- and small-scale manufacturers of motorcycle components. However, motorcycle manufacturers are optimistic about the progressive restart of activity; commuters are expected to be more likely to avoid public transportation, boosting the demand for private vehicles, such as bikes, which in turn could upsurge demand by the end of 2020.

The smart connected motorcycle is becoming a sensor-laden mobile Internet of Things (IoT) device, with significant on-board computing communication and power systems devoted to three broad areas: engine diagnostics and vehicle (telematics), vehicle location, driver behavior; the vehicle's occupants (infotainment); and the surrounding environment (V2X communication). All of these systems use increasingly 5G and cellular technology, among others. These are some of the major factors fueling the growth of the market for connected motorcycle.

Report Highlights

The infotainment service segment led the market and accounted for more than 30.01% 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 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 vehicle management and telematics service segment are expected to expand at the highest CAGR of 50.3% from 2020 to 2027. This is owing to the extensive usage of low-cost Bluetooth modules in motorcycle and requirement for timely diagnosis of high-performance engines and easy access to e-motorcycle battery charging status.

The embedded hardware segment led the market and accounted for more than 70.01% 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, this, in turn, is further expected to drive the market growth.

the tethered hardware segment is expected to expand at the highest CAGR of 51.6% from 2020 to 2027. Tethered hardware devices for a connected motorcycle have technologically advanced software algorithms along with several pieces of hardware systems to offer security and safety. The tethered safety products for connected motorcycles are considerably effective and precise, which will propel the tethered segment growth.

The vehicle-to-vehicle communication type segment led the market and accounted for more than 50.01% share of the global revenue in 2019. By communication type, the market is segmented into vehicle-to-vehicle (V2V), and vehicle-to-infrastructure (V2I). Vehicle-to- infrastructure (V2I) technology helps the rider avoid road collisions and prevent dangerous circumstances by allowing vehicles to communicate with road infrastructure, with other vehicles, and other road users.

The commercial segment led the market and accounted for more than 50.01% 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.

The cellular V2X (C-V2X) network type segment led the market and accounted for more than 50.01% 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, and carrier aggregation increase channel bandwidths, and many other features. C- V2X network facilitates fast connectivity between roadside infrastructure and vehicles.

Europe dominated the market and accounted for over 45.01% share of global revenue in 2019. The region has a strong foothold of market players, such as Triumph Motorcycles, KTM AG, Robert Bosch GmbH, and BMW AG. BMW AG has launched connected motorcycles such as R 1250 GS Adventure, R 1250 GS, F 850 GS, and F 750 GS in the European market. Furthermore, Europe is home to several component manufacturers such as Robert Bosch GmbH, Starcom Systems Ltd., and Continental AG.

Key Players

  • BMW AG

  • Triumph Motorcycles

  • Robert Bosch GmbH

  • Panasonic Corporation

  • Vodafone Automotive SpA

  • Continental AG

Market Segmentation

  • Service Outlook

    • Driver Assistance

    • Infotainment

    • Safety

    • Vehicle Management & Telematics

    • Insurance

  • Hardware Outlook 

    • Embedded

    • Tethered

  • Network Type Outlook 

    • Cellular V2X (C-V2X)

    • Dedicated Short Range Communication (DSRC).

  • Communication Type Outlook 

    • Vehicle-To-Vehicle (V2V)

    • Vehicle-To-Infrastructure (V2I)

  • End-user Outlook

    • Commercial

    • Private

  • Regional Outlook 

    • North America

      • The U.S.

      • Canada

    • Europe

      • Germany

      • The U.K.

      • France

    • Asia Pacific

      • China

      • India

      • Japan

    • Rest of the World

The Connected Motorcycle market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Connected Motorcycle market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Connected Motorcycle market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Connected Motorcycle market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Connected Motorcycle market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Connected Motorcycle capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Connected Motorcycle by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Connected Motorcycle market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Connected Motorcycle market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Connected Motorcycle market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Connected Motorcycle industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Connected Motorcycle market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Connected Motorcycle market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Connected Motorcycle market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Connected Motorcycle market. These factors have benefited the growth of the global market for Connected Motorcycle. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Connected Motorcycle. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Connected Motorcycle are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2028

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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