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Two-Wheeler Connectivity Market: A $364 Million Opportunity By 2031

6 September, 2024 - 4:27AM
Two-Wheeler Connectivity Market: A $364 Million Opportunity By 2031
Credit: open-pr.com

A Connected Future on Two Wheels

The two-wheeler landscape is undergoing a significant transformation, driven by the integration of connected technology. This shift is creating a dynamic market with immense growth potential, projected to reach $364.09 million by 2031, according to Market & Data. The adoption of connected features is not only enhancing the riding experience but also driving innovation in areas like safety, security, and efficiency.

The Rise of Connected Two-Wheelers

Connected two-wheelers leverage the internet of things (IoT) technology to enable smart and intelligent mobility. These vehicles utilize a network of connected devices to gather and transmit data, providing real-time insights and improving rider safety. This technology encompasses a wide range of features, including:

  • Navigation and Tracking: Connected two-wheelers offer GPS navigation, real-time traffic updates, and vehicle tracking for added security.
  • Safety Features: Advanced safety features such as anti-lock braking systems (ABS), electronic stability control (ESC), and emergency call systems enhance rider safety.
  • Remote Monitoring and Control: Connected two-wheelers allow riders to monitor their vehicle's performance, fuel levels, and other parameters remotely.
  • Infotainment Systems: Connected infotainment systems provide riders with access to music, entertainment, and communication features.

Factors Driving Growth

Several factors are driving the rapid adoption of connected two-wheelers:

  • Growing Demand for Electric Two-wheelers: The shift towards electric vehicles is a major catalyst for connected technology adoption. Electric two-wheelers are inherently more conducive to connectivity due to their electronic architecture.
  • Enhanced Rider Safety and Security: As awareness about rider safety grows, features like ABS and emergency call systems are becoming increasingly popular, boosting demand for connected two-wheelers.
  • Rise of Ride-sharing and Last-mile Delivery Services: Ride-sharing companies and delivery services rely on efficient and reliable two-wheelers, driving the adoption of connected features for fleet management and optimization.
  • Advancements in Technology: Continuous advancements in areas like 5G networks, cloud computing, and data analytics are enabling more sophisticated connected features.

The Indian Market: A Unique Landscape

The Indian automotive market presents a unique landscape, where two-wheelers hold a significant share. This is largely due to their affordability and maneuverability, particularly in densely populated urban areas. The Indian government's focus on electric vehicle adoption is further accelerating the growth of the connected two-wheeler segment.

Safety as a Priority

In India, the focus on safety is driving the adoption of advanced technologies. Safety features like ABS are becoming increasingly common in two-wheelers, and the industry is actively exploring the potential of other technologies like automated balancing to further enhance rider safety.

A Global Trend

The global connected motorcycle market is experiencing robust growth, with a projected CAGR of 54.7 per cent between 2021 and 2027. Leading motorcycle manufacturers are actively developing connected features, and consortiums are forming to standardize technology and safety standards. The future of two-wheelers is undeniably connected, offering exciting opportunities for innovation and advancement in mobility solutions.

The Future of Connected Two-Wheelers

The future of connected two-wheelers is bright, with exciting advancements on the horizon:

  • Artificial Intelligence (AI): AI-powered features, such as voice assistants and adaptive cruise control, will enhance the riding experience and improve safety.
  • Vehicle-to-Vehicle (V2V) Communication: V2V communication will enable connected two-wheelers to share information with other vehicles on the road, leading to improved traffic flow and accident prevention.
  • Data Analytics: Data collected from connected two-wheelers will be used to improve vehicle performance, optimize routes, and enhance safety.

The connected two-wheeler market is poised for significant growth, transforming the way we ride and experience the world on two wheels. As technology continues to evolve, we can expect even more innovative and impactful features that will make our journeys safer, more efficient, and more enjoyable.

The Connected Motorcycle Consortium (CMC)

The Connected Motorcycle Consortium (CMC) is a collaborative effort by leading motorcycle manufacturers like BMW Motorrad, Honda, Yamaha, KTM, Kawasaki, and Triumph to develop advanced safety features for motorcycles. The consortium aims to standardize connected features and promote their adoption globally.

Key Initiatives of the CMC

The CMC has launched several initiatives, including:

  • Development of a common platform for connected features: This platform will facilitate the integration of various connected features across different motorcycle brands.
  • Standardization of communication protocols: The CMC is working to standardize communication protocols to ensure seamless communication between connected motorcycles.
  • Promotion of safety features: The CMC is actively promoting the adoption of safety features such as emergency electronic brake lights and slow vehicle warnings.

Shaping the Future of Mobility

The rise of connected two-wheelers is not only transforming the riding experience but also shaping the future of mobility. The integration of advanced technology is improving safety, efficiency, and connectivity, creating a more sustainable and enjoyable journey for riders worldwide.

Two-Wheeler Connectivity Market: A $364 Million Opportunity By 2031
Credit: batterymaterialsreview.com
Two-Wheeler Connectivity Market: A $364 Million Opportunity By 2031
Credit: open-pr.com
Tags:
Market research Communication Latin America connected motorcycles two-wheeler technology electric vehicles motorcycle safety
Lena Schmidt
Lena Schmidt

Tech Enthusiast

Passionate about the latest tech innovations and trends.