Press release
2025-2034 Connected Motorcycle Market Outlook: Key Drivers, Emerging Challenges, and Strategic Insights
Connected Motorcycle
What Will the Connected Motorcycle Industry Market Size Be by 2025?
The market size for connected motorcycles has seen massive expansion in recent years. It is predicted to inflate from a valuation of $0.23 billion in 2024 to $0.33 billion in 2025, marking a compound annual growth rate (CAGR) of 44.5%. Factors contributing to the stellar growth recorded in the historic period include advancements in global positioning system (GPS) technology, the introduction of early connectivity features, the surge in smartphone utilization, the establishment of basic safety regulations, and innovative initiatives in smart vehicle technology.
What's the Long-Term Growth Forecast for the Connected Motorcycle Market Size Through 2029?
The size of the connected motorcycle market is anticipated to witness tremendous growth in the forthcoming years. It is projected to expand, reaching $1.44 billion in 2029 with a compound annual growth rate (CAGR) of 44.2%. The leap in this estimated period can be attributed to burgeoning worries about road safety and mishaps, regulatory requirements, consumer's insistence on safety and connectivity, advancements in infrastructure, and changing market dynamics. The prediction period will likely see a surge in the use of 5G-enabled connectivity, advancements in self-driving technology, bespoke rider experiences, the spread of over-the-air updates, and greater acceptance of AI-guided safety systems.
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What Are the Key Growth Drivers Fueling the Connected Motorcycle Market Expansion?
The escalating desire for electric motorcycles is projected to fuel the expansion of the connected motorcycle market. Electric two-wheelers, powered by electric motors and batteries instead of traditional internal combustion engines, are rising in popularity due to environmental consciousness, increased fuel prices, technological progress, governmental incentives, and burgeoning urban traffic congestion. Functionality and user experience of electric vehicles are substantially enhanced by connected motorcycles. They offer essential tools for managing battery life, safety, maintenance, and overall efficiency, making these electric vehicles more serviceable and attractive to a wider user base. For instance, the Office of Energy Efficiency and Renewable Energy, a government agency from the US, reported that in December 2023 that the total e-bikes sold in the country in 2022 were 1.1 million, a quadruple increase from the sales in 2021. Hence, the escalating demand for electric motorcycles is catalyzing the expansion of the connected motorcycle market.
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What Are the Key Trends Driving Connected Motorcycle Market Growth?
Leading firms in the connected motorcycle industry, such as Verge Motorcycles Inc., are turning to innovative technologies, like Artificial Intelligence (AI) and sensor technology, to maintain their market standing. They are using advanced computational algorithms and machine learning techniques to improve functionality, safety, and efficiency of the connected motorcycles. Sensor technology is applied to gather a range of data about the vehicle's surroundings, status, and operation. For instance, Verge Motorcycles Inc., a US-based electric two-wheeler manufacturer, launched the revolutionary Starmatter Software and Intelligence Platform in January 2024. This groundbreaking platform merges AI, sensor technology, and gaming engine features to provide an unparalleled riding experience. The platform has distinctive features which include adapting to rider behavior and environmental conditions in real-time, and personalizing the ride accordingly. Integrated sensors offer improved safety features like collision detection, adaptive cruise control, and automatic emergency brakes. This combination of technology heightens safety and performance, redefining the user experience and taking the regular connected motorcycle experience to new heights.
How Is the Connected Motorcycle Market Segmented?
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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Which Companies Are Leading the Charge in Connected Motorcycle Market Innovation?
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.
Which Regions Are Leading the Global Connected Motorcycle Market in Revenue?
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.
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