New York, USA, May 11, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global connected motorcycle market is anticipated to register a revenue of $7,227.5 million at a CAGR of 8.0%, increasing from $3,900.0 million in 2018. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market from growth factors, challenges, other market dynamics, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
Access to FREE Sample Here! @ https://www.researchdive.com/download-sample/84
Market Dynamics
Strategic alliances developed by the key players is one of the significant factors behind the growth of connected motorcycle market. In a collaborative effort, Kawasaki, Honda, Yamaha, and BMW Motor have established the CMC (Connected Motorcycles Consortium). The CMC aims to offer technological innovation and road traffic safety through the Cooperative Intelligent Transport Systems(C-ITS). These advancements are anticipated to boost the growth of the global connected motorcycle market.
The main restraining factor behind the growth of the market is expected to be the lack of IoT infrastructure in the middle-east and developing countries.
The government initiatives for intellectual transport systems to avoid roadway accidents by the improvisation of roadway infrastructure is anticipated to propel the connected motorcycle market during the forecast period.
Segments of the Market
The report has divided the market into different segments based on service, hardware, end-use, and regional outlook.
Checkout How COVID-19 impacts the Connected Motorcycle Market. Click Here to Speak our Expertise before buying Report & Get More Market Insights @ https://www.researchdive.com/connect-to-analyst/84
Driver Assistance Sub-Segment is Expected to be the Most Profitable
By Service, the driver assistance sub-segment is projected to raise $105.5 million by 2026, increasing from $3.7 million in 2018. Frequent road accidents is one of the significant attributor behind the growth of the market segment.
Tethered Sub-Segment is Expected to Become the Most Lucrative
By hardware, the tethered sub-segment is anticipated to reach a revenue of $183.5 million during the projected period. A tethered system for motorcycles has highly advanced software algorithms with multiple hardware to ensure the safety of the deliver. This factor is going to enhance the growth of the segment during the forecast period.
Commercial Sub-Segment is Predicted to Be the Most Beneficial
Commercial sub-segment is anticipated to register a revenue of $271.7 million by 2026, as per the report. This integrated system can inform motorcyclists about vehicle maintenance to minimize the problem of sudden breakdown of the motorcycle. This advantage has increased the demand of connected motorcycle from the commercial end-user. This is the reason behind the growth of this market segment.
Request for Connected Motorcycle Market Report Customization & Get 10% Discount on this Report@ https://www.researchdive.com/request-for-customization/84
Asia-Pacific is Expected to Dominate the Market
Asia-Pacific regional market is projected to register a revenue of $207.2 million at a CAGR of 49.0% during the projected period. Significantly rising sales of premium bikes, growing disposable incomes, and optimal adoption of technological innovations in Asian countries such as China, Singapore, India, and Malaysia are projected to foster the growth of the connected motorcycle market during the upcoming years.
Key Players of the Market
The report enlists the leading players of the global connected motorcycle market include
- Autotalks Ltd.
- BMW AG
- KPIT
- Robert Bosch GmbH
- Panasonic Corporation
- Vodafone Idea Limited
- Continental AG
- Starcom Systems Ltd
- TE Connectivity
- DXC Technology Company
among others. These players are focusing on research and development, product launches, collaborations and partnerships to sustain the growth of the market.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
In February 2019, the California-based Zero Motorcycles launched a new IoT-enabled motorcycle. Zero Motorcycles is a leading provider of IoT-enabled and electric motorcycles cross the U.S. The company also showcased new connected motorcycles at different exhibitions in New York and Amsterdam.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
Trending Reports -
- Two-Wheeler Fuel Injection Systems Market: Global Opportunity Analysis and Industry Forecast, 2020-2027
- Automotive Supercharger Market: Global Opportunity Analysis and Industry Forecast, 2020-2027
- Hub Motor Market: Global Opportunity Analysis and Industry Forecast, 2020-2027