New York, USA, Aug. 25, 2021 (GLOBE NEWSWIRE) -- Research Dive has added a new report to its offering titled, “Connected Motorcycle Market, by Service (Infotainment, Vehicle management & telematics, Driver assistance, Insurance, and Safety), Hardware (Tethered, Embedded, and Integrated), End-use Industry (Commercial and Private), and Regional Analysis (North America, Europe, Asia Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2026”.
The global connected motorcycle market is expected to generate a revenue of $543.5 million, growing exponentially at a healthy CAGR of 46.4% during the forecast period (2019-2026).
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Dynamics of the Market
Increasing prevalence of modern and premium motorcycles is expected to drive the growth of the market during the forecast period. In addition, various benefits associated with the adoption of connected motorcycles like improved performance, lower maintenance cost, better road safety, and more are expected to further bolster the growth of the market during the forecast period. Moreover, introduction of IOT-enabled motorcycles and motorcycles with automated biometric voice command system are expected to create massive opportunities in the growth of the market during the forecast period. However, lack of IOT infrastructure in many countries are expected to hinder the growth of the market during the forecast period.
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Segments of the Market
The report has divided the market into different segments based on service, hardware, end-user industry, and regional analysis.
• Based on service, driver assistance sub-segment is expected to be most profitable and generate a revenue of $105.5 million during the forecast period. Significant increase in the number of road traffic accidents around the world is expected to bolster the growth of the sub-segment during the forecast period.
• Based on hardware, tethered sub-segment is expected to be most lucrative and generate a revenue of $183.5 million during the forecast period. A tethered safety system for motorcycles is extremely effective and delivers maximum safety to the users. This factor is expected to drive the growth of the sub-segment during the forecast period.
• Based on end-user industry, commercial sub-segment is anticipated to be most beneficial, and generate a revenue of $271.7 million during the forecast period. Strategic collaborations among automobile manufacturers & suppliers and significant rise in the standard of living among people in developing countries are expected to bolster the growth of the sub-segment during the forecast period.
• Based on region, the Asia-Pacific region is predicted to dominate the market and grow exponentially during the forecast period. Persistent technological innovations and surging sales of premium motorcycles in this region are expected to drive the growth of the market during the forecast period.
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Key Player of the Market
• Autotalks Ltd.
• BMW AG
• Panasonic Corporation
• KPIT
• Robert Bosch GmbH
• TE Connectivity
• Vodafone Idea Limited
• Starcom Systems Ltd
• Continental AG
• DXC Technology Company
Access Varied Market Reports Bearing Extensive Analysis of the Market Situation, Updated With The Impact of COVID-19: https://www.researchdive.com/covid-19-insights
For instance, in April 2020, TVS Motor Company Ltd, a Chennai-based motorcycle company, acquired Norton, a British motorcycle brand, in order to accelerate TVS Motor’s technological capabilities to build bigger and more effective engines.
The report also provides an overview of many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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