Connected Motorcycle Market
The connected motorcycles market is expected to reach USD 1286.93 million by 2027, registering a CAGR of about 46.91%.
Commercial Segment Accounts for the Largest Market in the Motorcycle Sensors Market
- The demand for motorcycle sensors market is on a higher side in the commercial segment due to factors, such as the use of connected motorcycles in the rental and leasing service industry, as this helps rental providers track real-time vehicle location, and vehicle health monitoring, payment gateway, and dockless rentals.
- The demand for aftermarket GPS (Global Positioning System) trackers is high in the car rental industry as connected motorcycles are new technology and operators are yet to upgrade their fleet. During the forecast period, in line with the growing rental industry, the demand for aftermarket connectivity systems is expected to increase as fleet operators are looking to connect their fleet for better management.
Read our related report on Connected Vehicle Market
Drivers & Challenges for the Motorcycle Navigation System Market
- One of the biggest drivers of the connected motorcycle market has been the integration of mobile devices into the vehicle network to enhance and personalize navigation, communication, and entertainment capabilities. In-vehicle connectivity applications continue to expand, requiring the vehicle to handle increased bandwidth demands to accommodate high-quality displays.
- Top two-wheeler manufacturers, such as Honda Motorcycles, Hero (8.7% global share), Yamaha, Bajaj Motorcycles, and TVS (4.6% global share) manufacture most two-wheelers under the budget category. Manufacturers cut down many features to keep the cost low and attract many customers.
Rise in Demand for Electric Motorcycles
- The demand for electric motorcycles is growing around the world. As technological advancements in electric motorcycles are increasing and the market is witnessing the entry of new players, demand will continue to grow over the years to come.
- India is one of the major two-wheeler markets in the world. For the past few years, the country has attracted various global players and several new startups into the market with the launches of new electric motorcycles. Moreover, this trend is likely to continue as many new players have announced new product launches for 2021.
- In April 2021, Niu RQI launched an electric motorcycle for the Chinese and European markets. The electric sports bike has advanced technology features that include 5G IoT with ride data capabilities, an IoT-connected battery pack, a fully digital dashboard, anti-theft GPS tracking, and Bluetooth connectivity.
Know more about the two-wheeler connectivity systems market
Major Advancements & Innovations in Connected Motorcycle Sensors Market
- In November 2021, Suzuki Motorcycle launched Suzuki Avenis connected motorcycle in India. It comes with features such as caller ID, SMS alert, WhatsApp alert, speed exceeding warning, phone battery level display, and the estimated time of arrival. It is connected with iOS and Android platforms.
- In February 2021, Autotalks Ltd and Commsignia completed C-Road's cross-border testing in Austria and France, proving that Commsignia’s ITS-G5 V2X solutions, namely the RS4 roadside unit (RSU) and OB4 on-board unit (OBU), which use Autotalks V2X radios with verification acceleration and embedded HSM (Hardware Security Module), are fully compliant with the pan-European C-Roads project specifications for ITS-G5 communication.