(MENAFN- IMARC Group)
IMARC Group's latest report, titled“ Connected Motorcycle market : Global industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032 ”, the global connected motorcycle market size reached US$ 128.9 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,674.4 Million by 2032, exhibiting a growth rate (CAGR) of 32% during 2024-2032.
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Factors Affecting the Growth of the Connected Motorcycle Industry:
Rising Demand for Smart and Connected Vehicles : The increasing consumer preference for smart and connected vehicles is a key factor driving the connected motorcycle market. As connectivity becomes a standard feature in the automotive industry, motorcycle enthusiasts are seeking advanced features and connectivity options in their vehicles. Connected motorcycles offer features such as real-time navigation, vehicle diagnostics, and remote monitoring, enhancing the overall riding experience. Advancements in Internet of Things (IoT) and Telematics Technologies : The evolution of Internet of Things (IoT) and telematics technologies is a driving force behind the connected motorcycle market. Advanced sensors, GPS systems, and communication modules enable motorcycles to connect to the internet and share data in real-time. This connectivity facilitates features like location tracking, predictive maintenance, and emergency assistance, contributing to improved safety and convenience for riders. Focus on Motorcycle Safety and Security : Increasing concerns about motorcycle safety and security are propelling the adoption of connected technologies in motorcycles. Connected motorcycles often come equipped with safety features such as collision warning systems, automatic emergency calling (eCall), and stolen vehicle tracking. These features not only enhance rider safety but also provide an added layer of security for motorcycles, addressing the growing demand for advanced safety solutions in the motorcycle market.
Competitive Landscape with Key Players:
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
Global Connected Motorcycle Market Trends:
The connected motorcycle market is experiencing notable trends that reflect the integration of cutting-edge technologies and changing consumer expectations. There is a discernible trend towards the development of motorcycle-to-everything (M2X) communication systems. These systems enable motorcycles to communicate with other vehicles, infrastructure, and even pedestrians, fostering a more connected and intelligent traffic environment. This trend aligns with broader initiatives to improve road safety and traffic management.
Additionally, the market is witnessing increased integration with mobile applications, allowing riders to remotely monitor and control various aspects of their motorcycles. This trend reflects the demand for seamless connectivity and personalized control, underscoring the evolving nature of the connected motorcycle market towards enhanced safety, convenience, and user experience.
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Key Market Segmentation:
Breakup by Service:
Driver Assistance Infotainment Safety Vehicle Management and Telematics Insurance
Based on the service, the market has been divided into driver assistance, infotainment, safety, vehicle management and telematics, and insurance.
Breakup by Hardware:
Based on the hardware, the market has been divided into embedded and tethered.
Breakup by Network Type:
Cellular V2X Dedicated Short Range Communication
Based on the network type, the market has been divided into cellular V2X and dedicated short range communication.
Breakup by End User:
Based on the end user, the market has been divided into private and 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)
Based on the region, the market has been divided into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa.
Key Highlights of the Report:
Market Performance (2018-2023) Market Outlook (2024-2032) Porter's Five Forces Analysis Market Drivers and Success Factors SWOT Analysis Value Chain Comprehensive Mapping of the Competitive Landscape
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.
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