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AUTOMOTIVE & TRANSPORTATION

Connected Motorcycle Market Analysis by Type (Roadster, Adventure, Tour, Sports, and Heritage); Connectivity {Cellular and Dedicated Short-Range Communication (DSRC)}; Connectivity Solution (Embedded, Integrated and Tethered); and by Application (Safety, Driver Assistance, Well-being, Entertainment, Mobility Management, and Vehicle Management) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • 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 own 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.

Global Connected Motorcycle Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~40%

Base Year Market Size (2022)

 ~ USD 50 Million

Forecast Year Market Size (2033)

~ USD 550 Million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

The global connected motorcycle market is estimated to garner a revenue of ~USD 550 million by the end of 2033 by growing at a CAGR of ~40% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 50 million in the year 2022. The growth of the market can primarily be attributed to the growing number of connected motorcycles worldwide. Motorcycles with connection capabilities are becoming more and more common, especially in European countries and the U.S. For instance, it was found that there were over 19 million connected two-wheelers on United States roads in 2020.

connected motor cycle market overview Get more information on this report:Request Sample PDF

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 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. It is projected that by the end of 2022, global IoT spending will reach almost USD 1 trillion.

Global Connected Motorcycle Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Motorcycle Accidents – which can be prevented. IoT can combine with edge devices by using big data that deliver real-time warnings to help prevent one of the most fatal accidents on the road. The rising number of accidents is expected to boost demand for connected motorcycles in the projected period. For instance, it was found that in United States, more than 4,900 people died on motorcycles, and about 82,000 were injured in crashes in 2018.

  • Rising Using of Big Data -Big data is data generated by millions and millions of users which is analyzed for useful trends and insights. For instance, in 2022, ~2.5 quintillion bytes of data are created per day.

  • Increasing Investment in 5th Generation (5G) Mobile Network Technology – as per 2020 data, governments are investing in 5G in a bid to make hyperconnected public services. for instance, China allotted more than USD 30 billion for research and development on 5G for the upcoming 5 years.

  • Growing Number of Motorcycles – The global trend of owning motorcycles is growing. For instance, globally there are about 600 million motorcycles in 2022.

Challenges

  • Need of High Investment to Onboard the Latest Technology

  • Concern about Data Privacy

  • Stringent Government Regulatory Policies – From January 1, 2020 in Europe, Euro 5, the fifth set of European motorcycle regulations were launched. Their goal is to lessen the amount of air pollution created by two-wheelers, three-wheelers, and even quadricycles. Three- and four-wheelers, as well as motorcycles with lesser engine displacements, have various specifications.

The global connected motorcycle market is segmented and analysed for demand and supply by type segment into roadster, adventure, tour, sports, and heritage. Amongst these segments, the roadster segment is anticipated to garner the largest revenue by the end of 2033, backed by the growing penetration of motorcycles along with the surge in households with motorcycles worldwide. For instance, in United States, the number of motorcycles in households was found nearing 12,000,000 in 2018.

 Global Connected Motorcycle Market Regional Synopsis

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, backed by the presence of a strong biker network in the region, a growing number of motorbikes and mopeds along with rising sales of motorcycles. It was found that, in 2019, the sale of motorbikes jumped 9.1% totaling over 1 million motorcycles and mopeds in Europe.

Market Segmentation

Our in-depth analysis of the global connected motorcycle market includes the following segments:

      By Type

  • Roadster
  • Adventure
  • Tour
  • Sports
  • Heritage

     By Connectivity

  • Cellular
  • Dedicated Short-Range Communication (DSRC)

    By Connectivity Solution

  • Embedded
  • Integrated
  • Tethered

      By Application

  • Safety
  • Driver Assistance
  • Well-being
  • Entertainment
  • Mobility Management
  • Vehicle Management

Top Featured Companies Dominating the Global Connected Motorcycle Market

·Continental AG

  • Company Overview
  • Business Strategy
  • Key Product Offerings
  • Financial Performance
  • Key Performance Indicators
  • Risk Analysis
  • Recent Development
  • Regional Presence
  • SWOT Analysis
  • Robert Bosch GmbH
  • Yamaha Motor Co., Ltd.
  • Bayerische Motoren Werke Aktiengesellschaft
  • Honda Motor Co., Ltd.
  • KTM Sportmotorcycle GmbH
  • Suzuki Motor Corporation
  • Triumph Motorcycles Ltd
  • Kawasaki Heavy Industries, Ltd.
  • Aeris Communications, Inc.

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