Rising Road Fatalities Fueling Connected Motorcycle Demand

According to the World Health Organization (WHO), over 1.35 million deaths are caused due to road accidents globally. About 93% of these deaths occur in low-and middle-income countries, even though they only possess around 60% of the world's automobiles. Since a large number of bikers are involved in these accidents, bike manufacturers are being coerced to integrate advanced rider-assistance systems to improve their safety. In an attempt to minimize road accident cases, motorcycle manufacturers and road safety authorities are focusing on connected motorcycles, as these offer enhanced safety features.

Connected Motorcycle Market

Moreover, the surging penetration of sports and luxury bikes in emerging economies, such as India and China, and other nations of Asia-Pacific (APAC) and Latin America, Middle East, and Africa (LAMEA) will result in the progress of the connected motorcycle market during 2020–2030. The increasing adoption of these two-wheelers is due to the rising per capita income and soaring purchasing power of the people in these regions. Besides, the rising integration of artificial intelligence (AI) with the internet of things (IoT) will also amplify the use of connected motorcycles, as these technologies offer increased safety and better strategic management.

According to P&S Intelligence, the APAC connected motorcycle market will witness the fastest growth in the coming years. This can be credited to the surging integration of connected features in the sports and luxury motorcycles being sold in the region. Moreover, the strong presence of motorcycle manufacturers in China and India, owing to the abundant raw materials, cheap labor, constant technological advancements, and relaxed government regulations, will boost the production of connected motorcycles. For instance, 10,020,000 motorcycles were sold in India during Financial Year 2020–2021, many with connected features.

Explore Full Report Description At: https://www.psmarketresearch.com/market-analysis/connected-motorcycle-market

Thus, the increasing adoption of sports and luxury bikes and growing concerns regarding road accidents and fatalities will boost the integration of connected features in motorcycles in the coming years.

Read More

What are Main Factors Responsible for Surge in Global Connected Motorcycle Market?

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. 

Globally, the Asia-Pacific (APAC) region would see the fastest rise in the adoption of motorcycles equipped with connected systems, during the forecast period. This is mainly ascribed to the rising popularity of these motorcycles in the region. The connected systems and features have already been introduced in the luxury and sport motorcycles and soon, will trickle down to the economy range motorcycles. Moreover, the rapid technological developments in rider assistance systems will propel the adoption of advanced connected systems in motorcycles, thereby fuelling the growth of the connected motorcycle market in the region in the coming years.

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

Read More