Connected Motorcycle Market size is poised to cross USD 550 Million by the end of 2033, growing at a CAGR of 40% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of connected motorcycle was USD 50 Million.The growth of the market can be attributed to the growing number of connected motorcycles worldwide. Motorcycles with connection capabilities and integrated technology are gaining more traction, especially in Europe countries and the United States. For instance, it was found that there were over 19 million connected two-wheelers on United States roads in 2020. Further, the rising demand for more efficient safety features and driver assistance for a safe riding experience is also anticipated to expand the market growth over the forecast period.
In addition to these, factors that are believed to fuel the market growth of connected motorcycles include the rise in vehicle telematics, soaring investments in technological advancements, and surging demand for superior performance, that are also estimated to further drive the growth of the global connected motorcycle market in the coming years. With a highly advanced system, connected motorcycles can primarily read the road and provide alerts to the rider of traffic, obstacles, potholes, construction, or road curves. The applications of connected motorcycles warn riders regarding approaching vehicles, emergency braking systems, and others. With the recent advancements in IoT-enabled motorcycles as well as massively increased IoT spending, the demand for connected motorcycles is on the rise amongst bikers, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global connected motorcycle market during the forecast period. For instance, based on a report, by the end of 2022, global IoT spending was estimated to reach almost USD 1 trillion. Additionally, the growing demand for smartphone-integrated digital dashboards is another notable factor that is predicted to present significant market expansion over the projected period.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
40% |
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Base Year Market Size (2022) |
USD 50 Million |
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Forecast Year Market Size (2033) |
USD 550 Million |
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Regional Scope |
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Type (Roadster, Adventure, Tour, Sports, Heritage)
The global connected motorcycle market is segmented and analyzed for demand and supply by type into roadster, adventure, tour, sports, and heritage. Amongst these five types of segments, the roadster segment is anticipated to garner the largest revenue by the end of 2033. The growth of the segment can be attributed to the growing penetration of motorcycles among youngsters. Along with this, the worldwide surge in households with motorcycles is another major factor that is projected to drive market growth over the projected time frame. For instance, in the United States, the number of motorcycles in households was found nearly 12,000,000 in 2018.
Hardware (Embedded, Integrated, Tethered)
The global connected motorcycle market is also segmented and analyzed for demand and supply by hardware into embedded, integrated, and tethered. Amongst these three segments, the embedded segment is expected to garner a significant share. The embedded connection module consists of a GSM module, a GLONASS/GPS, an electronically controlled unit, and other useful sensors. The increased demand for embedded hardware from OEMs, owing to its lack of reliance on external components, is expected to substantially boost the market growth in the coming years. On the other hand, the tethered segment is also projected to witness a massive CAGR during the forecast period, owing to the rising concern for safety and security amongst users worldwide. Since the connected motorbike tethered safety products are incredibly precise and efficient, hence, this is estimated to accelerate the tethered segment growth in the coming years.
Our in-depth analysis of the global connected motorcycle market includes the following segments:
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By Type |
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By Connectivity |
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By Hardware |
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By Service Type |
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Europe Market Forecast
The Europe connected motorcycle market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the increasing count of bikes and mopeds, followed by the rising sales of motorcycles in the region. For instance, it was found that, in 2019, the sale of motorbikes jumped 9.1% totaling over 1 million motorcycles and mopeds in Europe. Further, the presence of a strong biker network in the region is also anticipated to contribute to market growth in the coming years. In addition, the surging ratio of collaborations among the prominent key players is also anticipated to boost the growth of the market during the forecast period.
Asia Pacific Market Forecast
Furthermore, the Asia Pacific connected motorcycle market, is also anticipated to display notable market growth by the end of 2033. The growth of the market can be attributed to the dynamically rising growth in the use of motorcycles in nations such as China, Japan, and so on. For instance, Japan had around 10.35 million motorcycles in use as of March 2021. Moreover, increasing disposable income and a surge in the adoption of technological innovations are some other major factors that are estimated to propel the market growth further over the forecast period in the region. In addition to this, the escalating ratio of urbanization is another significant factor that is also projected to push the market growth in the coming years in this region.
Continental AG announced that it is developing a complete hardware and software platform for motorcycles to be always-on connectivity. With this, motorcycle manufacturers will be able to offer riders their services much more easily in the future.
Robert Bosch GmbH debuted compact five-inch TFT displays for motorcycles. With both the new TFT Cluster 5” and Connectivity Cluster 5”, riders will be able to see all the information they need, at a glance.
Author Credits: Harshita Srivastava, Saima Khursheed
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