The rising
penetration of sport and luxury bikes in many countries especially the
developing nations of APAC and Latin America, Middle East and Africa (LAMEA) is
one of the major factors powering the rise in the demand for connected
motorcycles. The soaring per capita income and the resultant surge in the
purchasing power of the people in the emerging economies across the world such
as India and China is pushing the adoption of connected motorcycles.
Technological
innovations in automation and big data and the increasing integration of
artificial intelligence and internet of things (IoT) in motorcycles for
improving road and passenger safety are the other major factors that will boost
the popularity of connected motorcycles across the globe. Since the last few
years, there has been a huge rise in the popularity of off-road and
long-distance biking and this massively increased the probability of fatal
motorcycle accidents. As a result, a majority of the motorcycle manufacturing
companies have started developing motorcycles equipped with advanced
rider-assistance systems and in-motorcycle connectivity devices.
Due to the above-mentioned factors, the global connected motorcycle market is predicted to observe unprecedented growth during the forecast period (2020–2030). The connected motorcycles can be serviced by either the original equipment manufacturers (OEMs) or third-party service providers. Of these, the OEMs-based services are predicted to record higher demand during the forecast period. This is mainly attributed to the fact that the OEMs efficiently analyze all the essential information like riding mode, speed, and parking location and rider behavior and are thus, able to provide personalized services and accurate information about the upcoming maintenance requirements.
Due to the above-mentioned factors, the global connected motorcycle market is predicted to observe unprecedented growth during the forecast period (2020–2030). The connected motorcycles can be serviced by either the original equipment manufacturers (OEMs) or third-party service providers. Of these, the OEMs-based services are predicted to record higher demand during the forecast period. This is mainly attributed to the fact that the OEMs efficiently analyze all the essential information like riding mode, speed, and parking location and rider behavior and are thus, able to provide personalized services and accurate information about the upcoming maintenance requirements.
Hence, owing to the rising prevalence of road accidents and increasing adoption of advanced automated systems in motorcycles, the demand for connected motorcycles is set to skyrocket across the globe over the next few years.
Source: https://www.psmarketresearch.com/market-analysis/connected-motorcycle-market
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