The Connected motorcycles are mentioned as motorcycles that are prepared with IoT devices suggesting seamless internet connectivity in motorcycles and data sharing. It is a modern technology combined in motorcycles to deliver smart and intelligent two-wheeler flexibility. The connected motorcycle allows the provision to observe four major locations of the bike which involves the ride data sharing, charging, system advancement & updates, and bike standing & alerts.
According to the report analysis, ‘Global Connected Motorcycle Market to reach USD 615.25 Million by 2026’ states that as the COVID-19 outbreaks around the globe it moves unpleasantly towards the introduction of automobiles owing to the lockdown in several economies. Whereas, the connected motorcycles are furnished with IoT devices and mechanical by artificial intelligence which is an improvement in technology equipped in with numerous electronic systems and devices that can offer convenient locate and navigate services and eventually monitor the performance of the motorcycles. Owing to such advanced structures it is generating large requirements amongst customers, therefore, an increase in the sale of motorcycles around the world is projected to influence the growth of the market over the review years. For instance: As per MarkLines Co. Ltd, India is the greatest producer of two-wheeler across the world. Across India, the two-wheeler industry introduction increased from 23.2 million units from 2018 to 24.5 million units during 2019 and projected to augment up to 50.6 million units till 2026. Correspondingly, as per the European Association of Motorcycle Manufacturers (ACEM), across Europe, over 1,079,524 motorcycles were accounted for during 2019 which an augment of over 8% from the year 2018. Italy registers for the greatest share in the motorcycle market with having nearly 231,712 units of motorcycles across the region, followed by France and Spain that have over 197,470 units and 177,037 units of motorcycles correspondingly across 2019. In addition, customer shift towards premium motorcycles and implementation of safety and security features in motorcycles are the protuberant aspects creating a profitable thrust to the growth of the market. However, the Absenteeism of Connected Standards and Uniform Platform is the aspect limiting the growth of the market over the review years.
The worldwide Connected Motorcycle Market is valued at nearly USD 39 Million in 2019 and is projected to increase with a healthy growth rate of more than 48.30% over the forecast period of 2020-2027. The regional analysis of the worldwide Connected Motorcycle market is considered for the foremost regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region around the world in terms of market share due to the consumer movement towards the premium motorcycle along with the implementation of advanced technologies across the region. Whereas, the Asia-Pacific is also projected to exhibit the greatest growth rate / CAGR over the review period of 2020-2026. Aspects such as growing manufacture of motorcycle vehicle in the region along with Customer Requirement for Smartphone Integration and Digital Dashboards would generate lucrative growth diagnoses for the Connected Motorcycle market around the Asia-Pacific region. Therefore, in the near years, it is predicted that the market of the connected motorcycle will increase around the globe more effectively over the upcoming years.
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Global Connected Motorcycle Market Growth
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