Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Connected Motorcycle Market size was valued at USD 95.89 million in 2024 and is set to reach USD 7.59 billion by the end of 2037, expanding at around 39.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of connected motorcycle is assessed at USD 126.42 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.
Connected Motorcycle Sector: Growth Drivers and Challenges
Growth Drivers
- Growing Ratio of Motorcycle Accidents –The rising number of accidents is expected to boost demand for connected motorcycles in the projected period. IoT can combine with edge devices by using big data to deliver real-time warnings to help prevent one of the most fatal accidents on the road. Hence, motorcycle accidents can be prevented with the help of IoT. For instance, it was found that in the United States, more than 4,900 people died on motorcycles, and about 82,000 were injured in such crashes in 2018.
- Rising Use of Big Data - Big data is defined as data that is either difficult or impossible to analyze using standard methods since it is so huge, rapid, or complex. Still large-scale data access and storage for analytics have been practiced for a very long time. Moreover, it has gained much popularity in the last two decades. The significant contribution of using big data to lowering the pollution is one of its greatest advantages. Big data on electric motorcycles can effectively reduce the number of carbon emissions from vehicles on the road in addition to checking traffic. While transportation technology improves, it also results in a reduced ratio of pollution, and consumers and EV producers may use the data to develop better solutions. For instance, in 2022, approximately 2.5 quintillion bytes of data were produced per day across the globe.
- Increasing Investment in 5th Generation (5G) Mobile Network Technology – As per 2020 data, governments are investing in 5G technology in a bid to make hyperconnected public services, and it is expected to boost the growth of the global motorcycle market. 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, which is also anticipated to drive the market growth over the coming years. For instance, globally there were around 600 million motorcycles in 2022.
- Escalating Demand for Electric Bikes & 2 Wheelers – There has been surging demand for electric bike across the globe, that is expected to increase the market’s growth. For instance, in 2021, the global electric 2-wheeler (including motorcycles and scooters) sales surpassed around 11 million units, which represents an expansion of around 82% over the year of 2019, and an 18% share of the overall 2-wheeler industry.
Challenges
- Stringent Government Regulatory Policies – As per reports, From January 1, 2020, Euro 5, the fifth set of European motorcycle regulations was launched in Europe. 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. Hence, this factor is anticipated to hinder the market growth over the projected time frame.
- Need of High Investment to Onboard the Latest Technology
- Concern About Data Privacy
Connected Motorcycle Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
39.6% |
|
Base Year Market Size (2024) |
USD 95.89 million |
|
Forecast Year Market Size (2037) |
USD 7.59 billion |
|
Regional Scope |
|
Connected Motorcycle Segmentation
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 2037. 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:
|
By Type |
|
|
By Connectivity |
|
|
By Hardware |
|
|
By Service Type |
|
Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.
Customize this ReportConnected Motorcycle Industry - Regional Synopsis
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 2037. 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 2037. 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.
Companies Dominating the Connected Motorcycle Landscape
- 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.
- Honda Motor Co., Ltd.
- Bayerische Motoren Werke Aktiengesellschaft (BMW)
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 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: Saima Khursheed
- Report ID: 4533
- Published Date: Oct 11, 2024
- Report Format: PDF, PPT
