Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Connected Motorcycle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The latest global industry analysis on connected motorcycles has been published, revealing significant insights into the market dynamics and future prospects. As the demand for advanced vehicle connectivity and rider safety continues to soar, the connected motorcycle market is projected to expand exponentially from a valuation of US$ 91.3 Million in 2022 to an impressive US$ 723.7 Million by 2028. This represents an extraordinary compound annual growth rate (CAGR) of 41.2% over the forecast period from 2022-2028.
This growth is attributed to the increasing focus on rider security and the desire for an enhanced commuting experience. Traffic authorities across the globe are emphasizing the importance of reducing traffic-related fatalities, which, in turn, is accelerating the adoption of connected motorcycles. The integration of smart technology such as telematics control units (TCUs) and cellular connections is transforming motorcycles into sophisticated smart mobility solutions that offer a plethora of benefits to riders.
The market report segments the connected motorcycle industry as follows:
- Driver Assistance
- Infotainment
- Safety
- Vehicle Management and Telematics
- Insurance
Additionally, the analysis looks at the hardware component of the market, segmenting it into:
- Embedded systems
- Tethered systems
The advent of high-speed network technologies, especially the rollout of 5G, has been a critical driver for this market, facilitating faster, more reliable connectivity for motorcycles. This has been complemented by the development of innovative applications designed to further motorcycle safety and efficiency, including features such as tamper alerts, real-time collision notifications, and remote diagnostics.
The report also provides comprehensive segmentation by network type, distinguishing between cellular vehicle-to-everything (Cellular V2X) and dedicated short-range communication. The study does not overlook the end users, categorizing the market into private and commercial segments.
Regional Insights:
The connected motorcycle market report encapsulates detailed regional analysis and includes key areas such as:
- North America (United States, Canada)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia)
- Latin America (Brazil, Mexico)
- Middle East and Africa
The publication also presents a thorough competitive landscape, highlighting major industry players that are spearheading innovation and technology integration in connected motorcycles. With advancements in IoT and big data, these companies are setting new standards in motorcycle connectivity, focusing on augmenting safety and user experience.
For stakeholders, investors, and industry participants, the comprehensive report answers vital questions regarding market size, growth prospects, drivers, COVID-19 impacts, and key regional markets to keep stakeholders informed and ready to leverage emerging opportunities in the connected motorcycle space.
With a substantial CAGR and a market expected to rise significantly by 2028, the connected motorcycle market is at a pivotal point. The industry's ongoing technological evolution, coupled with increasing safety concerns, positions the market for a transformative period of growth and innovation over the next several years.
Companies Mentioned
- Aeris
- Autotalks Ltd.
- BMW AG
- Continental AG
- DXC Technology Company
- Facomsa
- IAV
- KPIT Technologies Ltd
- Panasonic Corporation
- Robert Bosch GmbH
- Starcom Systems Ltd and TE Connectivity
For more information about this report visit https://www.researchandmarkets.com/r/3vh7te
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