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

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