Connect with us

Hi, what are you looking for?

Economy

Berg Insight expects rapid adoption of embedded two-wheeler OEM telematics systems in the coming years

Berg Insight expects rapid adoption of embedded two-wheeler OEM telematics systems in the coming years

Berg Insight expects rapid adoption of embedded two-wheeler OEM telematics systems in the coming years

According to a new market research report from the IoT analyst firm Berg Insight, the number of active two-wheeler OEM telematics systems will grow at a CAGR of 37.1 percent from 11.1 million in 2023 to reach 53.8 million in 2028.

The report focuses on motor-powered two-wheelers including motorcycles, mopeds and scooters. Only some of the largest two-wheeler OEMs offer embedded telematics services today.

Martin Cederqvist, Senior Analyst at Berg Insight, said:

“Most major motorcycle OEMs have started to consider including embedded telematics systems. Important drivers for telematics adoption include safety and security services such as emergency and roadside assistance services and stolen vehicle tracking solutions. The increasing uptake of electric two-wheelers is also a major catalyst for adoption.”

Aftermarket telematics solutions have been available on the market for many years already. The main aftermarket telematics use cases are stolen vehicle tracking and theft prevention. The penetration rate of embedded OEM telematics solutions will increase in the coming years, but there will still be plenty of opportunities for aftermarket telematics service providers. The number of aftermarket two-wheeler telematics systems in active use is forecasted to grow at a CAGR of 14.7 percent from 13.8 million at the end of 2023 to reach 27.4 million in 2028.

“The Asia-Pacific region accounts for the largest number of active aftermarket telematics systems followed by RoW including regions such as Africa, the Middle East and Latin America”, said Mr Cederqvist.

graphic: active motor powered 2-wheeler telematics systems by segment world 2023-2028

Even though the industry is in an early stage, some two-wheeler OEMs offer connected services today. Examples include BMW Motorrad in Europe, LiveWire and Zero Motorcycles in the US, Hero MotoCorp, TVS Motor, Bajaj Auto (Chetak) and Royal Enfield in India as well as Yadea, NIU Technologies, Segway-Ninebot and Sunra in China.

“BMW Motorrad has been the pioneer in terms of telematics adoption. The company has offered emergency call telematics services in Europe since 2017. The emergency call telematics services were further expanded to BMW Motorrad vehicles in North America in 2023”, continued Mr Cederqvist.

The two-wheeler aftermarket telematics market is served by a wide range of companies. Some are large companies that have installed bases of hundreds of thousands of telematics devices for various vehicle types. There are also specialised companies that solely focus on telematics solutions for two-wheelers. Many telematics service providers offer solutions both for the OEM and the aftermarket segment. Examples of two-wheeler telematics service providers include Mapit IoT and Scorpion Automotive from Europe; SVR Tracking and Find it Now from North America; Carsystem and Lojack Argentina (Strix) from South America; Ajjas, Fleettrack, iTriangle Infotech, Onelap Telematics and Trak N Tell from India; WanWayTech from China as well as Tracker Connect from South Africa. There are also a range of companies that provide hardware telematics devices for two-wheelers. These companies either focus on the aftermarket, OEM or both segments. Examples of such companies include Actia, ERM Advanced Telematics, Jimi (Concox), Panasonic, Positioning Universal, Queclink Wireless Solutions, Teltonika and Tramigo.

Download report brochure: The Motor-Powered Two-Wheeler Telematics Market

The post Berg Insight expects rapid adoption of embedded two-wheeler OEM telematics systems in the coming years appeared first on IoT Business News.

You May Also Like

Editor's Pick

In Risky Business: Why Insurance Markets Fail and What to Do About It (Yale University Press, 2023), economists Liran Einav (Stanford), Amy Finkelstein (MIT),...

Editor's Pick

If you haven’t been following the “Twitter Files” saga, the gist of it is that the US federal government routinely pressured pre-Musk Twitter, and...

Editor's Pick

On April 23, 1985, the Coca-Cola Company made one of the biggest mistakes in American business history: it changed the formula for Coca-Cola. Outraged...

Editor's Pick

For years the North Korean playbook was obvious to the world. The Democratic People’s Republic of Korea wanted to be the center of attention....



Disclaimer: Questofprogress.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2023 Questofprogress.com