Product ID: UCMIG25D2002
Report ID:
UCMIG25D2002 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The rising trend of in-vehicle connectivity solutions and the increase of safety features provided by connected motorcycles are expected to drive the growth of the global connected motorcycle market. However, the threat of data hacking and the lack of smooth and consistent connectivity infrastructure are hampering the growth of the market. On the contrary, the addition of 5G connectivity to electric connected mobility is expected to present a remarkable opportunity for connected motorcycle market expansion during the forecast period. Connection People want to stay in touch with the outside world even when they travel.Nowadays, connectivity has become a priority and car manufacturers are using connectivity solutions to increase their sales. Several prominent companies have highlighted the growing hope for connected motorcycles. Various connectivity solutions have been incorporated into the latest motorcycles that require an internet connection to perform their specific functions. Connected devices include built-in GPS, SIM card and accelerometer to get all mobility information. IoT-enabled motorcycles are equipped with biosensors that can measure rider health to reduce traffic accidents.Multinational companies are using the IoT to develop mobile applications to connect motorcycles, owners and service facilities. These technological trends in motorcycles are expected to increase the growth of the connected motorcycle market. For example, . In May 2019, Telefónica, a telecommunications company, equipped Honda motorcycles with a network device that can track the real-time location of motorcycles. Increasing focus on providing safety features to drive market growth Connected motorcycles consist of a technologically advanced system that can read roads and issue alerts about bends, potholes, traffic, buildings and other obstacles. The Connected Motorcycle Consortium (CMC) is a partnership between researchers, manufacturers and retailers to include motorcycles in connected transportation.In addition, CMC develops motorcycles to provide riders with greater safety, thereby avoiding road fatalities. For example, a traffic jam warning (TJW) warns motorists of traffic jams and shows cyclists alternative routes or brakes to avoid the situation. Motorcycle Approach Indication (MAI) is a safety feature on these motorcycles that alerts riders to an approaching motorcycle. The growing propensity for long-distance cycling and the growing trend for cross-country cycling have resulted in strong motorcycle sales worldwide. In light of the worldwide data on traffic accidents caused by two-wheelers, several motorcycle manufacturers are obliged to integrate advanced driver assistance systems into their newly manufactured motorcycles in order to improve rider safety.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Motorcycle Manufacturers by segment aggregation, the contribution of the Motorcycle Manufacturers in Automobiles & Components and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG25D2002