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% 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.
“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,” says Martin Cederqvist, senior analyst at Berg Insight.
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% 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”, says Cederqvist.