The connected motorcycle from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Connected Motorcycle Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The connected motorcycle market size has grown exponentially in recent years. It will grow from $0.16 billion in 2023 to $0.23 billion in 2024 at a compound annual growth rate (CAGR) of 44.2%. The growth in the historic period can be attributed to the development of global positioning system (GPS) technology, early connectivity features, growth in smartphone usage, initial safety regulations, and pioneering smart vehicle initiatives.
The connected motorcycle market size is expected to see exponential growth in the next few years. It will grow to $1.00 billion in 2028 at a compound annual growth rate (CAGR) of 44.3%. The growth in the forecast period can be attributed to growing concerns about road fatalities and accidents, regulatory mandates, consumer demand for safety and connectivity, evolving infrastructure, and competitive market dynamics. Major trends in the forecast period include a rise in 5 G-enabled connectivity, advancements in autonomous riding technology, personalized rider experiences, the proliferation of over-the-air updates, and increased adoption of artificial intelligence-driven safety systems.
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Scope Of Connected Motorcycle Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Connected Motorcycle Market Overview
Market Drivers –
The growing demand for electric motorcycles is expected to propel the growth of the connected motorcycle market going forward. Electric motorcycles are two-wheeled vehicles powered by electric motors and batteries instead of internal combustion engines. The growing demand for electric motorcycles is due to environmental concerns, rising fuel costs, technological advancements, government incentives, and urban traffic congestion. Connected motorcycles significantly enhance the functionality and user experience of EV motorcycles. They provide vital tools for battery management, safety, maintenance, and overall efficiency, making EV motorcycles more practical and appealing to a broader range of users. For instance, in December 2023, according to the Office of Energy Efficiency and Renewable Energy, a US-based government agency, the number of e-bikes sold in the US in 2022 was 1.1 million, over four times the number sold in 2021. Therefore, the growing demand for electric motorcycles is driving the growth of the connected motorcycle market.
Market Trends –
Major companies operating in the connected motorcycle market are focused on developing innovative technologies, such as AI and sensor technology, to sustain their position in the market. Artificial intelligence (AI) in connected vehicles refers to using advanced computational algorithms and machine learning techniques to enhance vehicles’ functionality, safety, and efficiency. Sensor technology in connected vehicles involves using various sensors to collect data about the vehicle’s environment, status, and operation. For instance, in January 2024, Verge Motorcycles Inc., a US-based company that manufactures electric two-wheelers, launched Starmatter Software and Intelligence Platform to revolutionize the motorcycling industry with AI, sensor technology, and game engines. This innovative platform integrates AI, sensor technology, and game engine capabilities to deliver an unprecedented riding experience. Its unique features include real-time adaptive learning and personalizing the ride by analyzing rider behavior and environmental conditions. The platform’s advanced sensor suite provides enhanced safety with collision detection, adaptive cruise control, and automated emergency braking features. This integration elevates safety and performance and transforms the overall user experience, setting a new standard in connected motorcycling.
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
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Regional Insights –
Europe was the largest region in the connected motorcycle market in 2023. 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.
Key Companies –
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.
Table of Contents
1. Executive Summary
2. Connected Motorcycle Market Report Structure
3. Connected Motorcycle Market Trends And Strategies
4. Connected Motorcycle Market – Macro Economic Scenario
5. Connected Motorcycle Market Size And Growth
…..
27. Connected Motorcycle Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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