Connected Motorcycle Industry Overview
|Study Period:||2018 - 2028|
|Fastest Growing Market:||Asia-Pacific|
*Disclaimer: Major Players sorted in no particular order
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Connected Motorcycle Market Analysis
The connected motorcycles market was valued at USD 128.3 million in 2021, and it is expected to reach USD 1286.93 million by 2027, registering a CAGR of about 46.91% during the forecast period (2022-2027).
The COVID-19 pandemic hindered the growth of the connected motorcycles market due to shutdowns of manufacturing units and travel restrictions. In addition, virtually with no activity in tourism, the aftermarket segment of the connected motorcycle market witnessed a slowdown. However, post-pandemic, with the easing of restrictions, demand started restoring in 2021.
Factors like technology advancements, advancements in vehicle safety, the introduction of driver-assist systems in motorcycles, and rapidly growing logistics in the retail and e-commerce sectors have been significantly driving the connected motorcycle market. In addition, increased smartphone utilization and internet penetration may further enhance the market’s growth during the forecast period. However, a lack of proper connectivity infrastructure and increasing cyber threats like data hacking are anticipated to restrain the market’s growth.
The increasing internet penetration and improvements in internet connectivity and 5G to support vehicle-to-vehicle and vehicle-to-infrastructure connectivity and the increased demand for features like driving assistance systems, real-time safety, navigation, and GPS monitoring are driving the market.
Asia-Pacific is expected to hold a significant share in the market, followed by Europe and North America, during the forecast period. The demand for electric motorcycles and individual mobility for adventure trips, etc., is increasing. The presence of global players like Yamaha, Suzuki, and Honda and increasing awareness about the benefits of connected motorcycles will positively impact the regional market.
Connected Motorcycle Industry Segments
A connected motorcycle is a new technology where motorcycles are equipped with IoT devices, enabling seamless internet connectivity in motorcycles and data sharing. The connectivity system monitors and controls safety, comfort, and security functions, such as advanced light and heat management, keyless starting of the bike, and tire pressure monitoring, and helps one attend emergency calls.
The connected motorcycles market report covers the latest trends, COVID-19 impact, and technological developments. The scope of the report covers segmentation by service type, end-user, and geography. By service type, the market is segmented into driver assistance, infotainment, and safety. By end user, the market is segmented into private and commercial.
By geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. For each segment, the market sizing and forecast have been done based on value (in USD million).
|By End User|
Connected Motorcycle Market Trends
This section covers the major market trends shaping the Connected Motorcycle Market according to our research experts:
Infotainment Segment Anticipated to Hold Significant Share in the Market
The infotainment segment of the market is expected to grow significantly over the forecast period, as demand for such systems in vehicles is increasing. As infotainment systems have become an integral part of motorcycles, they are used for gathering information regarding the motorcycle on the TFT displays or electronic instrument clusters to keep the rider well informed about the vehicle.
Companies such as KTM, Harley-Davidson, and Kawasaki are offering connected motorcycles equipped with such infotainment systems to attract customers. They are being equipped with hi-tech features, such as connecting to a smartphone or a smart wearable. For instance, KTM AG’s KTM My Ride Paid app (USD 9) allows users to use the TFT display for navigation.
These infotainment systems are also installed with features like route guidance and navigation, which help the rider reach easily and provide accurate traffic information in real-time. Other features include lane change warnings, traffic signal warnings, and vehicle conditions. For instance,
- Triumph launched the My Triumph Connectivity System, available for Street Triple RS and Tiger 800. The connectivity system has an inbuilt Google navigation system, music, phone operation, and bike status monitoring. It is the first connectivity system globally to be launched with integrated GoPro control. The rider can capture their ride on a camera and intuitively access and control key GoPro functions through the motorcycle’s TFT instruments and left-hand switch cube.
Thus, to capture the growing market share, companies are offering innovative solutions to their consumers to strengthen their position in the market. For instance,
- In October 2020, Yamaha Motor Company launched the FZ series with Bluetooth-connected features. This app features vehicle location, trip details, hazard mode, and an e-lock feature. The Yamaha Connect X app costs INR 3,000 and can be installed in FZ & FZS-Fi V3 variants.
Thus, such developments in the infotainment segment are expected to boost the connected motorcycle market during the forecast period.
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Asia-Pacific Anticipated to Lead the Market During the Forecast Period
The two-wheeler trend is changing across Asia, as consumers’ awareness of high-end specs bikes is growing rapidly, allowing connected motorcycles to make space in the market. Major motorcycle competitors such as Bajaj, Honda, and KTM have already entered the connected vehicle market. KTM has already provided the Duke 390 with connected motorcycle specs. It has an infotainment system with a TFT display and smartphone connection through Bluetooth.
Product launches, strategic collaborations, and agreements by key players may further enhance the market’s growth during the forecast period. For instance,
- 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.
- In January 2021, Qianjiang Motor, a two-wheeler manufacturer owned by Geely and the parent company of Benelli, launched an electric sports bike with a digital TFT instrument panel. It has Bluetooth capability and an app, allowing users to check motorcycle charge, performance, geo-fencing, etc.
With growing motorcycle sales and advancements in technology supporting connected motorcycles, large manufacturers in the country may contribute to the development of the connected motorcycles market in Asia-Pacific over the forecast period.
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Connected Motorcycle Market Competitor Analysis
The connected motorcycles market is moderately consolidated, with several players accounting for a significant share in the market. The major players in the market are adopting several growth strategies, including product launches, collaborations, and partnerships, and offering technologically updated products to strengthen their position in the market. For instance,
- In September 2020, Continental AG announced an investment in Aeye, as a part of its strategy to enhance its short-range LiDAR technology. The first production series is scheduled for launch in 2024.
- In October 2020, Yamaha introduced a Bluetooth-enabled technology for motorcycles with the introduction of the Yamaha Connect X Application. The Bluetooth connectivity features will be initially available with the Yamaha FZS-FI Dark Knight BS6 variant. They can be installed as an add-on accessory in the entire series of Yamaha FZ-FI and Yamaha FZS-FI 150 cc motorcycles.
- In January 2020, Canada’s Damon motorcycles launched a connected motorcycle equipped with the BlackBerry QNX technology. Its 360-degree advanced warning system has various sensors, such as cameras and radar and non-visual sensors, to detect these threats on the road.
- In 2019, BOSCH introduced its Advanced Rider Assistance Systems (ARAS) with front collision avoidance and Help Connect (for emergencies). The ARAS were to be equipped in motorcycles manufactured by Ducati, Kawasaki, and KTM by mid to end of 2020.
Some of the major players in the market are Robert Bosch, Continental AG, TE Connectivity, and Panasonic Corporation.
Connected Motorcycle Market Top Players
Robert Bosch GmBH
TE Connectivity Ltd
KPIT Technologies Ltd
*Disclaimer: Major Players sorted in no particular order
Connected Motorcycle Market Recent Developments
- 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-Roads 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.
- In September 2020, BMW announced the launch of a new TFT display with a built-in navigation system via the Connectivity App installed on the smartphone, which will replace the turn-by-turn navigation used on the BMW TFT Dash.
- In September 2020, Continental AG announced an investment in Aeye as a part of its strategy to enhance its short-range LiDAR technology. The first production series is scheduled for launch in 2024.
Connected Motorcycle Market Report - Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Buyers/Consumers
4.3.2 Bargaining Power of Suppliers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Service
5.1.1 Driver Assistance
5.2 By End User
5.3 By Geography
5.3.1 North America
18.104.22.168 United States
22.214.171.124 Rest of North America
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.3.4 Rest of the World
18.104.22.168 South America
22.214.171.124 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 BMW Motorrad
6.2.2 TE Connectivity Ltd
6.2.4 Vodafone Group PLC
6.2.5 Panasonic Corporation
6.2.6 Continental AG
6.2.7 Robert Bosch GmbH
6.2.8 Aeris Communication Inc.
6.2.9 Starcom Systems Ltd
6.2.10 KPIT Technologies Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Connected Motorcycle Market Research FAQs
What is the study period of this market?
The Connected Motorcycle Market is studied from 2018 - 2028.
What is the growth rate of Connected Motorcycle Market?
The Connected Motorcycle Market is growing at a CAGR of 46.71% over the next 5 years.
What is Connected Motorcycle Market size in 2018?
The Connected Motorcycle Market is valued at 128 Million USD in 2018.
What is Connected Motorcycle Market size in 2028?
The Connected Motorcycle Market is valued at 1286 Million USD in 2028.
Which region has highest growth rate in Connected Motorcycle Market?
Asia-Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Connected Motorcycle Market?
Europe holds highest share in 2021.
Who are the key players in Connected Motorcycle Market?
Robert Bosch GmBH, Panasonic Corporation , Continental AG, TE Connectivity Ltd, KPIT Technologies Ltd are the major companies operating in Connected Motorcycle Market.
Connected Motorcycle Industry Report
In-depth industry statistics and market share insights of the Connected Motorcycle Market sector for 2020, 2021, and 2022. The Connected Motorcycle Market research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Connected Motorcycle Market report PDF.