Market Trends of Connected Motorcycle Industry
This section covers the major market trends shaping the Connected Motorcycle Market according to our research experts:
Infotainment Segment Anticipated to Hold Significant Share in the Market
The infotainment segment of the market is expected to grow significantly over the forecast period, as demand for such systems in vehicles is increasing. As infotainment systems have become an integral part of motorcycles, they are used for gathering information regarding the motorcycle on the TFT displays or electronic instrument clusters to keep the rider well informed about the vehicle.
Companies such as KTM, Harley-Davidson, and Kawasaki are offering connected motorcycles equipped with such infotainment systems to attract customers. They are being equipped with hi-tech features, such as connecting to a smartphone or a smart wearable. For instance, KTM AG's KTM My Ride Paid app (USD 9) allows users to use the TFT display for navigation.
These infotainment systems are also installed with features like route guidance and navigation, which help the rider reach easily and provide accurate traffic information in real-time. Other features include lane change warnings, traffic signal warnings, and vehicle conditions. For instance,
- Triumph launched the My Triumph Connectivity System, available for Street Triple RS and Tiger 800. The connectivity system has an inbuilt Google navigation system, music, phone operation, and bike status monitoring. It is the first connectivity system globally to be launched with integrated GoPro control. The rider can capture their ride on a camera and intuitively access and control key GoPro functions through the motorcycle's TFT instruments and left-hand switch cube.
Thus, to capture the growing market share, companies are offering innovative solutions to their consumers to strengthen their position in the market. For instance,
- In October 2020, Yamaha Motor Company launched the FZ series with Bluetooth-connected features. This app features vehicle location, trip details, hazard mode, and an e-lock feature. The Yamaha Connect X app costs INR 3,000 and can be installed in FZ & FZS-Fi V3 variants.
Thus, such developments in the infotainment segment are expected to boost the connected motorcycle market during the forecast period.
Asia-Pacific Anticipated to Lead the Market During the Forecast Period
The two-wheeler trend is changing across Asia, as consumers' awareness of high-end specs bikes is growing rapidly, allowing connected motorcycles to make space in the market. Major motorcycle competitors such as Bajaj, Honda, and KTM have already entered the connected vehicle market. KTM has already provided the Duke 390 with connected motorcycle specs. It has an infotainment system with a TFT display and smartphone connection through Bluetooth.
Product launches, strategic collaborations, and agreements by key players may further enhance the market's growth during the forecast period. For instance,
- In April 2021, Niu RQI launched an electric motorcycle for the Chinese and European markets. The electric sports bike has advanced technology features that include 5G IoT with ride data capabilities, an IoT-connected battery pack, a fully digital dashboard, anti-theft GPS tracking, and Bluetooth connectivity.
- In January 2021, Qianjiang Motor, a two-wheeler manufacturer owned by Geely and the parent company of Benelli, launched an electric sports bike with a digital TFT instrument panel. It has Bluetooth capability and an app, allowing users to check motorcycle charge, performance, geo-fencing, etc.
With growing motorcycle sales and advancements in technology supporting connected motorcycles, large manufacturers in the country may contribute to the development of the connected motorcycles market in Asia-Pacific over the forecast period.
