The global connected motorcycle market size is projected to grow from USD 55 Million in 2021 to USD 757 Million by 2027, at a CAGR of 54.7%. Factors such as rising premium motorcycle sales around the world, growing demand for motorcycle safety and driver assistance along with growing demand for usage-based insurance and infotainment systems in motorcycles will boost the demand for the connected motorcycle market. The upcoming regulations for rider safety in motorcycles in countries around the world will also boost the market.
Europe is expected to hjave a fast growing demand for connected motorcycles in the coming years.
The automotive industry is one of the key industries in Europe. The European motorcycle industry witnessed significant growth till 2019 and fell in 2020 due to the pandemic. In the first half of 2021, the sales increased by around 8% compared to 2020. Italy, France, Germany, Spain, and the UK are the key markets in Europe. The region is a major market for premium and high-performance motorcycles, making it promising for connected motorcycles. Foreign manufacturers have also entered the market to increase their global presence. The European motorcycle market is dominated by Japanese OEM Honda, followed by Yamaha and Kawasaki. European OEMs Piaggio, Ducati, and BMW are also ranked among the top sellers in the region. The motorcycle industry grew by around 8% y-o-y in the first three quarters of 2021. Europe has mandated a regulation in most countries to have the eCall system in cars and is planning to bring the same in motorcycles, which has led to manufacturers adding connected motorcycle features to most models released in the region.
Europe is estimated to be one of the largest markets for connected motorcycles in 2021. Connected motorcycles are now offered by companies like Triumph Motorcycles and BMW. These companies have launched connected motorcycles over the years. Triumph Motorcycles introduced connectivity services in models such as Street Triple RS, Tiger 900 GT, Street Triple R & RS, and Speed Triple S & RS. BMW also launched its R9T and R18 connected motorcycles in the region.
Hardware providers like Bosch and Continental AG also operate from this region. They provide some of the best-in-class hardware and software services for connected motorcycles around the world. In November 2020, Bosch launched its new TFT display for use in motorcycles. The display, which comes with an integrated split-screen for use in connected motorcycles, was hailed as the world’s first fully integrated device for use in connected motorcycles. Similarly, Continental AG developed its collision warning system for connected motorcycles in October 2021. It developed an AI-based collision warning system for motorcycles developed as part of its safety product offering for connected motorcycles. Software and network providers like Starcom Systems, e-Novia, Vodafone, Telefonica, IAV, Facomsa, Calimoto, and The Floow, among others, are also working to provide software and network solutions for connected motorcycles and have partnered with OEMs and other key players in the connected motorcycle ecosystem. The efforts of all these companies along with the strict safety regulations in European countries will increase the demand for connected motorcycles.
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Commercial segment is estimated to account for the largest market during the forecast period
Commercial users of connected motorcycles include fleet managers, insurance providers, and other service providers. All these stakeholders rely on real-time vehicle data collected using a tracking device. For instance, a tracking device in a vehicle can be installed under the bonnet or on the windscreen. It collects vehicle data for analysis by a network provider. The network provider then provides information to the insurance provider. Vodafone Automotive offers usage-based insurance for vehicles in partnership with Generali Group. These insurers also offer additional value-added services such as theft alerts, crash assistance, roadside recovery, and emergency services including eCall and bCall. Usage-based insurance reduces the cost of premiums while offering easy claims. An accident/crash scene can be accurately reconstructed using the collected data. Hence, it helps reduce the number of false claims. Companies like Hertz Ride, Bikesbooking, Eagle Rider, Riderly, MdorNomad, RentaRide, Edelweissbike, Indian Motorcycle, and RetroVentures provide motorcycle leasing services for private individuals and corporations. They use connected vehicle features for their ride-hailing services. Many logistics companies also use connectivity services on their motorcycles to enable location tracking and vehicle dynamics for their delivery personnel. This leads to a rise in demand for connected motorcycles in the commercial vehicle sector.
Vehicle telematics provides new revenue opportunities for OEMs and other third-party service providers. The on-board sensors collect essential vehicle information such as speed, riding mode, trip information, and parking locations. OEMs analyze this data and profile riders according to their driving behavior. This data can ease the warranty claim process. OEMs now have the facility to void the warranty if the rider has intentionally violated warranty regulations by overspeeding and using wrong driving modes. OEMs can inform the rider about upcoming service maintenance to avoid costly repairs. This data is also useful for other third-party service providers. Service providers can offer tailored services for individual riders after analyzing the vehicle data. More such implications would boost the demand for connectivity services in motorcycles during the forecast period. E-commerce companies will also be prominent consumers of connected motorcycles due to their door-to-door delivery services in many populated countries. Companies like Amazon and Walmart have already been using some aspects of connected technology in motorcycles.
eCall is estimated to account for the largest market size during the forecast period
The eCall system comprises components such as positioning system (GPS [global positioning system] GLONASS [global navigation satellite system]), communication system (GSM [global system for mobile communications]), and electronic control units. Once the vehicle sensors detect a crash or collision, the system automatically dials the emergency number and contacts the nearest emergency call center. The systems also collect a minimum set of data such as time of the accident, accurate position, and description of the crashed vehicle. The eCall function can be manually triggered in case the rider wants to contact the emergency center. The system is expected to increase the chances of survival in case of fatal crashes. The eCall service providers must comply with the data privacy regulations. According to upcoming EU regulations, the European eCall services will be activated only in case of an accident. Hence, the systems cannot track the vehicle all the time. The eCall services would be beneficial for motorcyclists, which are accident-prone road users.
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Key Market Players:
The connected motorcycle market is dominated by Major OEMs including Yamaha (Japan), Suzuki (Japan), Kawasaki (Japan), BMW (Germany), and Harley Davidson (US) and component manufacturers include Bosch (Germany) and Continental AG (Germany). Many software providers, including Starcom Systems (UK), KPIT (India), and e-Novia (Italy), work with platform providers like IBM (US) and Amazon AWS (US) and network providers like Vodafone (UK) and Verizon (US) to develop product and service offerings for the connected motorcycle ecosystem. They have initiated partnerships to develop their connected motorcycle technology and provide finished products to their respective customers for the connected motorcycle market.
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