The launch of the vehicle to vehicle technology for motorcycles is expected to revolutionize the global motorcycle infotainment market over the next few years
Arizton’s recent market research report on the motorcycle infotainment market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by product (motorcycle and trike), by application (OEM and aftermarket), by geography (North America, APAC, Europe, Latin America, and MEA), and offers detailed competitive analysis.
The motorcycle infotainment market is anticipated to reach values of around $323 million by 2023, growing at a CAGR of approximately 14% during 2017-2023.
The growing electrification of vehicles and adoption of features such as powertrain, infotainment, connected vehicles, and safety electronics, is propelling the growth of the global market. The leading OEMs are launching safety systems such as anti-lock braking systems (ABS), engine control units (ECUs), electronic fuel injection system, and automated locking systems to comply with the stringent regulations and emission norms in the global market.
The top 3 drivers and trends contributing to the growth of the global motorcycle infotainment market are discussed below:
Increasing penetration of premium motorcycles in emerging markets
The growing demand for premium motorcycles across emerging markets will drive the growth of the global motorcycle infotainment market. The rapid economic development, increase in per capita income, and availability of lucrative financing options is enabling consumers to invest in premium motorbikes in the developing markets. The emerging markets are gaining momentum and these regions are witnessing a growing demand for a middleweight, heavyweight, and super heavyweight vehicles having engine capacities 251cc to 750cc, 751cc to 1199cc, and 1200cc and above. The untapped business opportunities and cheaper operational costs are attracting vendors to the motorcycle infotainment market across emerging countries. There is a rapid change in the perspective from the necessity to passion for riding and exploring. Such dynamic consumer preferences will create lucrative opportunities for premium motorcycle companies in the global market. Domestic automakers are partnering with international vendors to offer a wide range of premium options to meet the growing consumer demands in the emerging market. In APAC countries such as China, India, and South Korea these premium vehicles are gaining traction among consumers. Furthermore, supportive policies will boost the demand for innovative systems in the global motorcycle infotainment market.
Increasing use of safety electronics
The rising focus on passenger safety and government agencies establishing stringent regulations will propel the development of the global motorcycle infotainment market. Such policies have led to the introduction of ABS for bikes above 125cc in the global market. For instance, the Indian government has mandated the use of ABS after April 2018 for bikes and scooters above 125cc. Leading manufacturers such as Bosh and Continental are investing in making safety electronics affordable for end-users in the global market. The launch of these initiatives will augment the growth of the global motorcycle infotainment market. Some of the safety electronics used by motorcycles are traction control, cornering ABS, active/semi-active suspension, and laser lights and HUD systems. These systems are specifically designed to improve cornering grip, stability, braking, corner entry, and handling, thereby maintaining the safety of the riders and passengers. These systems play as a central hub to control and tweak these active safety features according to the rider’s comfort in the global market. The increasing adoption of safety electronics will contribute to the development of the global motorcycle infotainment market during the forecast period.
Introduction of the vehicle to vehicle technology for motorcycles
The launch of the vehicle to vehicle technology for motorcycles is expected to revolutionize the global motorcycle infotainment market over the next few years. According to recent studies, the lack of seat belts, airbags, and crumple zones makes motorbikes nearly 30% time prone to fatal crashes than cars. The introduction of vehicle to vehicle technology supports short-range communication technology to exchange location, speed, heading, braking mode, and other information with nearby vehicles. These systems will help avoid a collision and increase the adoption of advanced technologies in the global motorcycle infotainment market. Recently, in 2017, Bosch announced a prototype vehicle-to-vehicle communication system. The other leading manufacturers are also expected to invest in the development of this technology in the market during the forecast period. The launch of the vehicle to vehicle technology that helps detect threats and sounds an audio or visual warning on the infotainment system, which in turn, will transform the global motorcycle infotainment market.
The leading vendors in the global motorcycle infotainment market are HARMAN International (Samsung), Garmin, TomTom International, Bosch, Continental AG, and Polaris Industries.
The complete overview of the latest market research report on motorcycle infotainment market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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