The global “connected motorcycle market” size is expected to gain momentum by reaching USD 70.0 million by 2028. Fortune Business Insights in its report, titled “Connected Motorcycle Market, 2021-2028.”, mentions that the market stood at USD 44.1 million in 2020 and is likely to exhibit a CAGR of 5.9% between 2021 and 2028. This is attributed to the rising number of two-wheeler accidents worldwide and the increasing adoption of advanced technologies by companies to develop innovative and safety-compliant products during the foreseeable future. For instance, according to a report by the nonprofit National Safety Council, around 42,060 deaths were reported in vehicle crashes in 2020, an overall increase of 8% compared to 2019.

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List of the Companies Profiled in the Global Market:

Panasonic Corporation
Robert Bosch GmbH
BMW Motorrad
Starcom Systems
Continental AG
TE Connectivity
KPIT
Autotalks
Harley-Davidson, Inc.
Triumph Motorcycles
Yamaha Motor Co., Ltd.
DRIVING FACTORS

Increasing Adoption of Advanced Systems to Surge Demand

In May 2019, Telefonica, a leading telecommunications company, installed a networked device that can efficiently track the location of motorcycles in real-time in Honda motorcycles. The increasing adoption of technology has led to connectivity gaining prominence. Several companies are focusing on integrating connectivity solutions to ensure the safety of the rider. The biosensors that are equipped on the two-wheelers provide detailed information regarding obstacles and other factors to the riders by using in-built GPS, accelerometer, and sim card, among others. Therefore, the growing adoption of technologically advanced solutions is expected to bode well for the global connected motorcycle market growth in the forthcoming years.

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COMPETITIVE LANDSCAPE

Product Innovation by Major Companies to Intensify Industry Competition

The market is fragmented by the presence of major companies that are striving to maintain their dominance and further expand their product portfolio. These companies are developing innovative connected motorcycles to cater to the growing demand from consumers across the globe. Other key players are adopting proactive strategies such as partnership, collaboration, and merger and acquisition that are likely to favor the growth of the market during the forecast period.

Industry Development:

January 2020 - Damon motorcycles introduced connected motorcycles in Canada that are equipped with BlackBerry QNX technology. The company reports that these motorcycles have a 360-degree advanced warning system with multiple sensors such as cameras, radars, and non-visual sensors. They aid in detecting obstacles and improve rider safety.
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