(MENAFN- EIN Presswire) Connected Motorcycle Market
The emerging trend of connectivity solutions in vehicles is significantly contributing to the market growth.
SHERIDAN, WYOMING, UNITED STATES, April 6, 2023 /einpresswire.com / -- How Big is the Connected Motorcycle Market ? :
IMARC Group's latest report, titled“Connected Motorcycle Market: Global industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global connected motorcycle market size reached US$ 91.3 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 723.7 Million by 2028, exhibiting a growth rate (CAGR) of 40.4% during 2023-2028.
What are Connected Motorcycle ? :
A connected motorcycle is a motorcycle equipped with internet connectivity, allowing it to share data with other devices both inside and outside the motorcycle. This data can include real-time traffic information, location-based services, and motorcycle diagnostics. It helps to enhance safety, enhance the riding experience, and reduce the environmental impact of transportation. Similar to connected cars, connected motorcycles are becoming more prevalent as advancements in technology, such as 5G networks and the Internet of Things (IoT), enable motorcycles to be connected to the internet and each other. It possesses several advanced safety features, such as collision avoidance and emergency calls, to improve rider safety. It can monitor motorcycle performance, such as speed, fuel efficiency, and engine diagnostics, in real-time and remotely control the motorcycle, such as starting the engine and controlling the lights, using a smartphone app or other device.
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Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players being
.Aeris
.Autotalks Ltd
.BMW AG
.Continental AG
.DXC Technology Company
.Facomsa
.IAV
.KPIT Technologies Ltd
.Panasonic Corporation
.Robert Bosch GmbH
.Starcom Systems Ltd
.TE Connectivity
Connected Motorcycle Market Demand and Advanced Technology and Development:
The global market is majorly driven by the increasing safety features provided by connected motorcycles. In line with this, the emerging trend of connectivity solutions in vehicles is significantly contributing to the market growth. Furthermore, the rising integration of 5G connectivity to power-connected mobility is offering lucrative opportunities for market expansion. Apart from this, the growing customer demand for driver assistance and safety features for a safe and comfortable riding experience is catalyzing the product demand. Moreover, the rapid innovations in the automobile industry are paving the way for better and improved vehicles with security and safety features propelling the market. Besides, the escalating trend of long-distance bike riding and the shifting consumer preferences for off-road biking is expected to favor the market.
Additionally, the increasing demand for electric motorcycles, which is one of the new advanced technologies in the two-wheeler industry, is projected to provide a boost to the market. The leading market players are focusing on developing smartphone applications to improve vehicular connectivity. This, in turn, is anticipated to strengthen the market.
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Key Market Segmentation:
Breakup by Service:
.Driver Assistance
.Infotainment
.Safety
.Vehicle Management and Telematics
.Insurance
Breakup by Hardware:
.Embedded
.Tethered
Breakup by Network Type:
.Cellular V2X
.Dedicated Short Range Communication
Breakup by End User:
.Private
.Commercial
Breakup by Region:
.North America (United States, Canada)
.Europe (Germany, France, United Kingdom, Italy, Spain, Others)
.Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
.Latin America (Brazil, Mexico, Others)
.Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
.Market Performance (2017-2022)
.Market Outlook (2023-2028)
.Porter's Five Forces Analysis
.Market Drivers and Success Factors
.SWOT Analysis
.Value Chain
.Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
Anand Ranjan
IMARC Services Private Limited
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