Press release
Connected Motorcycle Market Size Projected To Reach $1.44 Billion By 2034 With A Cagr Of 44.2%
Connected Motorcycle Market
What Is the Projected Growth of the Connected Motorcycle Market?
The connected motorcycle market is set to grow from $0.23 billion in 2024 to $0.33 billion in 2025, at a remarkable CAGR of 44.5%. The growth is due to advances in GPS technology, early adoption of connectivity features, increased smartphone usage, initial safety regulations, and pioneering smart vehicle initiatives.
The connected motorcycle market is forecast to grow exponentially, reaching $1.44 billion by 2029, at a CAGR of 44.2%. This growth is due to rising concerns about road safety, regulatory mandates, demand for safety and connectivity, evolving infrastructure, and competitive market dynamics. Trends include 5G-enabled connectivity, autonomous riding technology, personalized experiences, over-the-air updates, and AI-driven safety systems.
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What Are the Different Connected Motorcycle Market Segments?
The connected motorcycle market covered in this report is segmented -
1) By Type: Sport, Tour, Roadster, Heritage, Adventure, Other Types
2) By Connectivity Solution: Integrated, Embedded, Tethered
3) By Service: Driver Assistance, Safety, Entertainment, Well Being, Vehicle Management, Mobility Management
4) By Propulsion: Immigration And Customs Enforcement (ICE), Electric
5) By End User: Private, Commercial
Subsegments:
1) By Sport: High-Performance Sport Motorcycles, Supersport Motorcycles, Track-Focused Motorcycles
2) By Tour: Touring Motorcycles, Cruiser Tour Motorcycles, Touring Bikes With Advanced Connectivity Features
3) By Roadster: Naked Bikes, Street Motorcycles, Urban Commuter Motorcycles
4) By Heritage: Classic Motorcycles, Retro-Style Motorcycles, Café Racers
5) By Adventure: Adventure Touring Motorcycles (Adv), Dual-Sport Motorcycles, Off-Road Adventure Bikes With Connectivity
6) By Other Types: Electric Motorcycles, Custom Motorcycles, Scooters With Connectivity Features
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What Are the Primary Drivers Shaping the Connected Motorcycle Market?
The rising demand for electric motorcycles is projected to drive the growth of the connected motorcycle market. Electric motorcycles, which are powered by electric motors and batteries, are gaining popularity due to concerns about the environment, rising fuel costs, technological advancements, government incentives, and traffic congestion in cities. Connected motorcycles significantly improve the functionality of electric motorcycles by enhancing battery management, safety, maintenance, and overall efficiency. As a result, they appeal to a wider user base. For example, in December 2023, a U.S. government report indicated that 1.1 million e-bikes were sold in the U.S. in 2022, a four-fold increase from 2021. Thus, the increased demand for electric motorcycles is fueling the connected motorcycle market's growth.
Which Companies Are Leading in the Connected Motorcycle Market?
Major companies operating in the connected motorcycle market are Bayerische Motoren Werke AG, Verizon Communications Inc., Honda Motor Co. Ltd., Amazon Web Services Inc., Panasonic Corporation, International Business Machines Corporation, Continental AG, Suzuki Motor Corporation, Yamaha Motor Co. Ltd., TE Connectivity Ltd., Kawasaki Heavy Industries Ltd., Harley-Davidson Inc., Vodafone Group plc, Hero MotoCorp Ltd., Robert Bosch GmbH, IAV GmbH, KPIT Technologies Ltd., Triumph Motorcycles Limited, Aeris Communications Inc., Zero Motorcycles Inc., Autotalks Ltd., Ducati Motor Holding S.p.A.
What Connected Motorcycle Market Trends Are Gaining Traction Across Different Segments?
Companies in the connected motorcycle market are prioritizing technological advancements like AI and sensor technology to strengthen their market position. AI in connected vehicles uses advanced algorithms and machine learning to improve functionality, safety, and efficiency, while sensor technology gathers data on the vehicle's environment and status. For example, in January 2024, Verge Motorcycles Inc. introduced the Starmatter Software and Intelligence Platform, which combines AI, sensor tech, and game engine capabilities to enhance the riding experience. The platform features real-time adaptive learning, personalized riding based on rider behavior and conditions, and advanced safety measures such as collision detection and automated emergency braking.
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What Are the Top Revenue-Generating Geographies in the Connected Motorcycle Market?
Europe was the largest region in the connected motorcycle market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the connected motorcycle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Connected Motorcycle Market?
2. What is the CAGR expected in the Connected Motorcycle Market?
3. What Are the Key Innovations Transforming the Connected Motorcycle Industry?
4. Which Region Is Leading the Connected Motorcycle Market?
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