Northbrook, IL -- (SBWIRE) -- 02/24/2020 -- The global Connected Motorcycle Market is projected to grow from USD 39 million in 2019 to USD 912 million by 2027, at a CAGR of 48.3%. The adoption of connected motorcycles is primarily influenced by new motorcycle sales and production, OEM initiatives for innovation, and availability of a standard platform for V2V communication. After a steady increase in the last 2 years, the global motorcycle sales slumped in the first half of 2019. With a view to boost sales, OEMs plan to launch connected motorcycles with limited functionalities such as vehicle management in 2020. The inclusion of connected services will increase rider engagement and establish direct communication between the OEM and the rider. Thus, it will create new revenue opportunity from additional services or recurring revenue from subscriptions.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=16392581

According to experts, the mass commercialization of connected motorcycles relies on the future availability of 5G technology. The increasing development and rapid commercialization of 5G technologies in the last few years has made it the future of communications. 5G technology supports a variety of use cases from small IoTs to automation in large manufacturing facilities. According to the Ericsson mobility report, North America has the highest LTE penetration (91%) in the world. There will be approximately 320 million 5G subscribers by the end of 2025. China alone has more than 1.4 billion LTE subscribers as of November 2019. Increasing adoption is expected to boost the commercialization of 5G technology in most of the cities. The increasing availability of 5G would be instrumental for the growth of cellular-based V2X communications. For instance, Vodafone delivers connectivity solutions to 8 of the top 10 car manufacturers. More such partnerships would accelerate the development of connected motorcycles.

Asia Pacific is projected to be the fastest-growing market for connected motorcycle during the forecast period. Increasing sales of motorcycles in the Asia Pacific region would drive the growth of connected motorcycle market in this region. China is now the second largest motorcycle market after India. Indonesia has emerged as the third largest motorcycle market in the world due to its positive economic growth. The motorcycle sales in the country were estimated at 6.3 million units in 2018. The Asia Pacific region is home to some of the most innovative motorcycle manufacturers such as Honda, Kawasaki, Yamaha, and Suzuki. These OEMs are taking active participation in the Connected Motorcycle Consortium to develop connectivity services for motorcycles. For instance, Yamaha launched its TMAX SX and TMAX DX scooters with connectivity services provided by Vodafone. The Japanese component manufacturer Panasonic has started mass production of telematics control units, codeveloped with Ficosa International S.A. The company supplied connectivity services for Harley Davidson LiveWire2020 models. Harley plans to roll out connectivity services for other models from 2020. Increasing developments from component manufacturers and motorcycle manufacturers are expected to boost the adoption of connected motorcycles in the region to provide a safe and comfortable riding experience.

Request Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=16392581

Critical Questions:

- Where will the introduction of connected motorcycle take the industry in the long term?
- How will the connected motorcycle market cope with the challenge of setting up an interoperable platform?
- What is the impact of government safety regulations on the connected motorcycle market?
- What are the upcoming trends in the connected motorcycle market? What impact would they make post-2022?
- What are the key strategies adopted by the top players to increase their revenue?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst