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%. The upcoming safety norms for motorcycles in many countries around the world will provide greater opportunities for this market. Connected motorcycles will provide new opportunities to OEMs and service providers for channelizing data to provide better services to customers. For connected motorcycle buyers, value added services like usage-based insurance, infotainment and vehicle safety. The growing demand of electric 2-wheelers will further speed up the shift to connected motorcycles.
Adoption of safety and security features
Different types of motorcycles such as cruisers, adventure bikes, scooters, and sport bikes have different levels of performance, stability, handling, and controls. Riders must be agile and alert while riding as motorcycles provide little protection in case of an accident. Motorcycle accidents have become a major concern for OEMs as well as government and road safety authorities. For instance, in the US, motorcyclists comprise 34% of all traffic fatalities. According to NHTSA, in 2020, out of 5,458 accidents in the US, 76% were riders and 24% were passengers. The collision with fixed objects is another major concern for governments and motorcyclists. Further, in 2020, 34% of the motorcycles had fatal crashes with fixed objects due to rider errors, such as over speeding, under cornering, running wide on a curve due to excess speed, or a fall due to over braking.
According to NHTSA, motorcycles have more than 10 times the chance of accidents by the number of vehicles driven compared to PCs and light trucks. According to the Connected Motorcycle Consortium, half of the accidents are caused by other vehicle drivers. OEMs such as BMW Motorrad, Honda, Yamaha, KTM, Kawasaki, and Triumph joined the consortium to develop safety features for motorcycles. In the first phase, features such as slow or stationary vehicle warning, road works warning, and emergency electronic brake lights were rolled out in 2020. Other advanced features such as left turn assist, intersection movement assist, motorcycle approach indication, overtaking warning, lane changing warning, and blind spot warning will be rolled out in the upcoming phases. All these features require reliable and advanced connectivity services for V2V and V2I. The inclusion of safety features in the upcoming motorcycles would drive the demand for connectivity services and other related components and software platforms. The consortium is currently working on 16 such projects, involving technology and applications, for the connected motorcycle market.
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Advancements in connectivity (cloud & 5G)
With increasing technical developments in cloud platforms and the availability of 5G networks, intelligent instrument clusters are expected to become a standard feature in the premium two-wheeler segment. The availability of a fast and reliable 5G network enables OEMs to process a large volume of real-time data on the cloud. For instance, if a connected car ahead applies brakes or lowers the speed suddenly, the connected motorcycle behind must anticipate that event on time so that the rider can act quickly. Also, other safety features such as brake assistance and collision warning analyze data that demands higher bandwidth and low latency cellular connectivity for the proper functioning of safety features. Hence, OEMs are shifting from onboard processing to cloud-based solutions. Cloud solutions comprise faster processing units with built-in algorithms that can process a large amount of data quickly and provide real-time predictions and features. As cloud infrastructures are maintained by OEMs or third-party cloud providers, these initiatives would eliminate the need for costly onboard control units and reduce the chances of failure. Further advancements in cellular connectivity would increase the adoption of connected services for motorcycles.
Asia Pacific is expected to be the fastest-growing market in the forecast period.
The Asia Pacific region comprises major motorcycle markets such as China, India, Indonesia, the Philippines, and Vietnam. The region accounted for more than 90% of the global motorcycle sales in 2020. As two-wheelers are a preferred mode of transportation due to affordability and low maintenance, Asian countries such as India, Thailand, Indonesia, and Vietnam have a high motorcycle penetration. Mid and budget-segment motorcycles dominate the market in these countries. However, with a steady increase in disposable income and rising demand for high-performance motorcycles, the region has attracted a number of premium motorcycle manufacturers.
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.
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