Accidents have become one of the major causes of death and disability in recent times. The fatality rate of bike accidents in highways and roadways has seen a steep rise in the decade. The U.S. Governors Highway Safety Association (GHSA) reported a 9% increase in motorcycle-related fatalities nationwide in 2012. Studies show that the younger generation have been immensely affected by road accidents, especially with the growth of urbanization and vehicle density on roads. Lack of awareness regarding traffic rules, negligence during driving, over speed, drunken driving, mobile phone usage while driving, etc., are some of the major reasons for road accidents. Cars and trucks have been equipped with IoT-based features that assist the drivers, and help in reducing the number of accidents. These functionalities are being extrapolated to motorcycles, giving rise to connected or IoT-based motorcycles. Information such as vehicle speed, road obstructions, motorcycle emission, fuel capacity, vehicle position, etc., are collected using IoT, which can then be used to control and analyse the vehicle. Panasonic Automotive, for instance, provides a system that allows the rider to stay connected with the motorcycle through a linkage between mobile application and the vehicle telematics control unit (TCU). Motorcycle status, tamper alerts, vehicle location and service reminders are directly sent to the rider's mobile application using Panasonic's OneConnect system. OEMs are increasingly offering added security features to prevent vehicle theft. The connected motorcycle market is expected to show considerable growth as a result of rising consumer awareness regarding the need for technology-embedded vehicles that can be accessed using smartphones, coupled with favourable government initiatives that promote safe connected vehicle solutions.
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In terms of revenue, U.S. connected motorcycle market was valued at US$ 9.72 Mn in 2018 and is expected to be worth US$ 204.45 Mn by 2027, growing at a CAGR of 40.4% over the forecast period. The study analyses the market in terms of revenue across all the major regions and countries.
The detailed research study provides qualitative and quantitative analysis of U.S., Europe and Asia Pacific connected motorcycle market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional presence and strategies. The geographical analysis done emphasizes on each of the major regions across U.S., Europe, Asia Pacific.
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Key Findings on the Report:
- Commercial vehicles accounted for the highest share in the U.S., Europe and Asia Pacific Connected Motorcycle Market in 2018. The rise in companies that are offering on-demand motorcycle transportation, especially on rent, is a major reason for the larger share. In commercial settings, maintaining track of the vehicle for prevention of theft is highly important. Smartphone applications that stay connected to the motorcycle help in the prevention of theft.
- Infotainment systems allow the rider and co-passenger to entertain themselves through music and audio books while travelling. The user can control the volume setting through touch systems that are implemented in connected vehicles. Infotainment systems are expected to show the highest growth during the forecast years, owing to the increasing demand for on the road entertainment features in motorcycles amongst the consumers.
- Motorcycle manufacturers are customizing products to cater to the growing demand for advanced features in connected motorcycles amongst the millennial. Ducati, for instance, launched Ducati Scrambler in 2019, to cater to these requirements. Modern safety concepts like airbags, auto-braking blind-spot detection, lane-departure alerts, among others, have been incorporated in their traditional design. The bike also has an advanced ITS system to give a wholesome riding experience to the consumers.
- Germany accounted for the highest revenue share in the Europe connected motorcycle market in 2018, and it is expected to show the highest CAGR over the forecast period.
- Some of the players operating in the U.S., Europe and Asia Pacific connected motorcycle market are Continental AG, KPIT Technologies Ltd., Panasonic Corporation, Robert Bosch GmbH and Starcom Systems Ltd amongst others.
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U.S., Europe and Asia Pacific Connected Motorcycle Market:
- By Hardware
- Embedded
- Customized
- By Service
- Driver Assistance
- Infotainment
- Safety
- Vehicle management & telematics
- Others
- By End User
- Private
- Commercial
- By Region
- U.S
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
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