Global Connected Motorcycle Market Insights Forecasts to 2033

• The Global Connected Motorcycle Market Size was Valued at USD 97.86 Million in 2023
• The Market Size is Growing at a CAGR of 14.67% from 2023 to 2033
• The Worldwide Connected Motorcycle Market Size is Expected to Reach USD 384.73 Million by 2033
• Europe is expected to Grow the fastest during the forecast period.

 

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The Global Connected Motorcycle Market Size is Anticipated to Exceed USD 384.73 Million by 2033, Growing at a CAGR of 14.67% from 2023 to 2033.

 

Market Overview

A connected motorcycle is a technology that combines with motorcycles to provide smart and intelligent two-wheeler transportation. The technology utilized in linked motorcycles is the Internet of Things (IoT). The Internet of Things (IoT) is a network of internet-connected devices that can collect and transmit data across a wireless network without the need for human intervention. In connected motorcycles, IoT can be utilized in conjunction with sensor nodes and big data to provide real-time warnings and reduce road hazards. The connected motorbike addresses four important aspects of bike charging: ride data sharing, bike status and alarms, and system upgrades and updates. Smart infrastructure integrations represent a big opportunity in the global connected motorcycle sector. As cities and highways become smart ecosystems, the integration of connected motorcycles with smart infrastructure becomes critical. This collaboration allows for smooth communication between motorcycles and intelligent traffic control systems, traffic lights, and other smart features. The integration improves traffic flow, decreases congestion, and increases overall road safety. Furthermore, it allows for novel features such as real-time traffic updates, predictive route optimization, and tailored rider alerts, all of which contribute to a more connected and efficient transportation environment.

 

Report Coverage

This research report categorizes the market for the global connected motorcycle market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global connected motorcycle   market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global connected motorcycle market.

 

Driving Factors

With rising urbanization, the majority of the population prefers to live in cities due to their ease of access and connectedness. However, this has resulted in a significant change in the urban population, with more vehicles and motorcycles on the road. This resulted in clogged highways and lengthy traffic jams. Furthermore, an increasing number of people are turning to motorcycles and scooters as a less expensive, more efficient, and mobile method of transportation. This has resulted in a strong demand for two-wheelers in densely populated areas such as Asia and several European countries, as well as an increase in the desire for agile commuting and connected car technologies. Due to these considerations, metropolitan regions are expected to emerge as a major market for the connected motorcycle market.

 

Restraining Factors

The high upfront cost is a significant limitation on the global connected motorcycle market. The incorporation of advanced connection features, such as IoT-enabled sensors, communication modules, and telematics systems, incurs significant upfront costs. This expense is passed on to consumers, making connected motorcycles considerably more expensive than traditional versions. The market's price sensitivity, combined with the desire for affordability, may impede the widespread adoption of connected motorcycles. Manufacturers and stakeholders must strategize and create new solutions to overcome cost obstacles and make connected motorbike technology more accessible to a larger user base.

 

Market Segmentation

The global connected motorcycle market share is classified into service, hardware, and application.

 

• The driver assistance segment is expected to hold the largest share of the global connected motorcycle market during the forecast period.   

Based on the service, the global connected motorcycle market is categorized into driver assistance, infotainment, safety, vehicle management & telematics, and insurance. Among these, the driver assistance segment is expected to hold the largest share of the global connected motorcycle market during the forecast period. Driver assistance systems are technologies that help drivers operate their vehicles safely. It improves automotive and road safety by leveraging a human-machine interface. It uses automated technology, including sensors and cameras, to identify surrounding impediments or driver errors and respond accordingly.

 

• The embedded segment is expected to grow at the fastest CAGR during the forecast period.

Based on the hardware, the global connected motorcycle market is categorized into embedded, and tethered. Among these, the embedded segment is expected to grow at the fastest CAGR during the forecast period. The embedded connectivity system can provide advanced safety features that require onboard GPS, cellular connectivity, and a superior control unit to function properly. For instance, the Motorcycle Approach Indication (MAI) is an important element for riders. This capability is strongly dependent on an accurate onboard GPS device and rapid communication systems. Embedded hardware is superior to tethered hardware. For real-time safety features, connectivity systems cannot rely on cellphones or other low-quality dongles. As a result, motorcycle manufacturers will opt to use embedded hardware to provide trustworthy safety measures in the future.

 

• The motorcycle approach indication (MAI) segment is expected to hold a significant share of the global connected motorcycle market during the forecast period.

Based on the application, the global connected motorcycle market is categorized into motorcycle approach indication (MAI) and intersection. Among these, the motorcycle approach indication (MAI) segment is expected to hold a significant share of the global connected motorcycle market during the forecast period. This is related to an increase in motorcycle fatalities caused by drivers' lack of awareness of motorcycle approaches on the road. Applications for forward collision warning and left turn assist are likely to increase significantly over the forecast period. This is due to the increasing demand for effective communication between automobiles and motorcyclists during lane crossings, overtaking, and turns. Applications like forward collision and left turn offer motorcyclists information on road conditions and accidents by alerting them via the vehicle's instrument cluster.

 

Regional Segment Analysis of the Global Connected Motorcycle Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

Asia Pacific is projected to hold the largest share of the global connected motorcycle market over the forecast period.

 

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Asia Pacific is projected to hold the largest share of the global connected motorcycle market over the forecast period. The Asia-Pacific area includes important motorcycle markets like China, India, Indonesia, the Philippines, and Vietnam. Asian nations with high motorcycle penetration include India, Thailand, Indonesia, and Vietnam, where two-wheelers are a popular method of transportation due to their low cost and ease of maintenance. These countries' motorcycle markets are dominated by mid- and low-end models. However, the region has attracted a number of luxury motorcycle manufacturers as disposable income has steadily increased and demand for high-performance motorcycles grows. The Asia Pacific market will easily outperform other regions in the coming years due to increasing two-wheeler sales. Furthermore, foreign motorcycle manufacturers have joined this market, introducing sports and adventure motorcycles with large displacement engines. The increasing predilection for high-performance motorcycles among millennials, as well as changing lifestyles, will drive market expansion in this region.

 

Europe is expected to grow at the fastest CAGR of the global connected motorcycle market during the forecast period. The Europe market has the second-largest market share due to stringent safety laws, increased awareness of road safety, and a rising desire for advanced features such as real-time navigation and communication systems among European riders. Furthermore, the German market had the biggest market share, while the United Kingdom market was the fastest-growing in the European region.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global connected motorcycle market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• KTM AG (PIERER Mobility AG)
• Robert Bosch GmbH
• Triumph Motorcycles
• Aeris
• Autotalks Ltd.
• BMW AG
• HERO MOTOCORP LTD.
• Kawasaki Heavy Industries, Ltd.
• Yamaha Motor Co., Ltd.
• Zero Motorcycles, Inc.
• Others

 

Key Market Developments

 

• In July 2023, BMW Motorrad upgraded the intelligent emergency call system, which will be included in the forthcoming 2023 models. The new upgrade will be standard on certain models, with the ability to personalize a few others. When an emergency call is placed, the technology automatically connects the rider with an emergency center agent.

 

• In May 2023, Nvidia and Mediatech have established a partnership on connected vehicle technology. The firms intended to introduce a powerful vehicle infotainment system to improve consumers' experiences with entertainment and voice assistant driver assistance capabilities.

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global connected motorcycle market based on the below-mentioned segments: 

 

Global Connected Motorcycle Market, By Service

• Driver Assistance
• Infotainment
• Safety
• Vehicle Management & Telematics
• Insurance

 

Global Connected Motorcycle Market, By Hardware

• Embedded
• Tethered

 

Global Connected Motorcycle Market, By Application

• Motorcycle Approach Indication (MAI)
• Intersection

 

Global Connected Motorcycle Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa