Global Connected Motorcycle Market Overview And Statistics for 2024-2033

The Business Research Company's Connected Motorcycle Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 15, 2024 /EINPresswire.com/ -- The connected motorcycle market has witnessed significant growth in recent years, with market size increasing from $0.16 billion in 2023 to $0.23 billion in 2024, representing a compound annual growth rate (CAGR) of 44.2%. This growth has been driven by the development of global positioning system (GPS) technology, early connectivity features, the rise in smartphone usage, initial safety regulations, and pioneering smart vehicle initiatives. Looking forward, the market is expected to expand exponentially, reaching $1.00 billion by 2028 at a CAGR of 44.3%. The projected growth 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.

Electric Motorcycles Fuel Market Growth
The increasing demand for electric motorcycles is expected to be a key driver of growth for the connected motorcycle market. Electric motorcycles, which are powered by electric motors and batteries rather than internal combustion engines, have gained popularity due to environmental concerns, rising fuel costs, technological advancements, government incentives, and urban traffic congestion. Connected motorcycles enhance the functionality and user experience of electric vehicles by offering vital tools for battery management, safety, maintenance, and overall efficiency, making them more practical and appealing to a broader audience. For instance, the Office of Energy Efficiency and Renewable Energy reported that in December 2023, 1.1 million e-bikes were sold in the US in 2022, more than four times the number sold in 2021. This growing demand for electric motorcycles is expected to propel the connected motorcycle market forward.

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Key Players and Technological Advancements
Major companies operating in the connected motorcycle market include 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., and Ducati Motor Holding S.p.A. These companies are focused on developing innovative technologies such as AI and sensor technology to maintain their market positions. For example, in January 2024, Verge Motorcycles Inc., a US-based company, launched the Starmatter Software and Intelligence Platform, which integrates AI, sensor technology, and game engine capabilities to deliver an unprecedented riding experience. This platform features real-time adaptive learning, personalized riding experiences, and enhanced safety measures, including collision detection, adaptive cruise control, and automated emergency braking.

Trends Shaping the Market
In the forecast period, several key trends are expected to shape the connected motorcycle market. These include the rise in 5G-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. These trends are expected to enhance the functionality, safety, and overall user experience of connected motorcycles, driving further market growth.

Segments:
• By Type: Sport, Tour, Roadster, Heritage, Adventure, Other Types
• By Connectivity Solution: Integrated, Embedded, Tethered
• By Service: Driver Assistance, Safety, Entertainment, Well Being, Vehicle Management, Mobility Management
• By Propulsion: Immigration And Customs Enforcement (ICE), Electric
• By End User: Private, Commercial

Geographical Insights: Europe Leading the Market
Europe was the largest region in the connected motorcycle market in 2023, benefiting from advanced infrastructure and high adoption rates of connected technologies. However, Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by rising consumer demand, rapid urbanization, and expanding infrastructure.

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Connected Motorcycle Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Connected Motorcycle Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on connected motorcycle market size, connected motorcycle market drivers and trends, connected motorcycle market major players, competitors' revenues, market positioning, and market growth across geographies. The connected motorcycle market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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