Connected Motorcycle Market to Surge at 14.73% CAGR from 2023 to 2030; LiveWire Collaborates with Airbiquity to Bring New Products

The global connected motorcycle market size stood at USD 88.4 million in 2022. The market value is slated to rise from USD 98.2 million in 2023 to USD 256.9 million by 2030 at a CAGR of 14.73% during 2023-2030. The surge can be credited to the growing implementation of next generation technologies equipped with advanced safety features. Besides, companies are focusing on the development of technologies focused on providing enhanced connectivity solutions.

Fortune Business Insights™ presents this information in its report titled “Connected Motorcycle Market Size, Share & COVID-19 Impact Analysis, By Communication Type (Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I)), By Network Type (Cellular and Dedicated Short Range Communication (DSRC)), By Connectivity Type (Embedded, Integrated, and Tethered), By Application (Motorcycle Approach Indication (MAI), Intersection Movement Assist (IMA), Forward Collision Warning (FCA), and Left Turning Assist (LTA)), and Regional Forecast, 2023-2030”.

Decline in the Number of R&D Projects Affected Industry Expansion during Coronavirus Pandemic

The pandemic led to a cut in the funding for various R&D projects. These also included connected technology. Besides, the period led to the shutdown of numerous enterprises driven by disruptions in the supply of various products. However, the integration of newer vehicle technologies including electrification, autonomous driving solutions, and others helped the revival of product demand.

LiveWire Partners with Airbiquity to Enable OTA Updates in its Vehicles

In May 2023, LiveWire collaborated with connected vehicle services provider Airbiquity. The deal was focused on enabling OTA updates on the company’s electric motorcycles.

The OTA (Over-the-Air) capability is a significant addition to EVs. It provides the rider with additional battery capacity, features, and optional ride modes.

Increasing Traffic Congestion in Urban Areas to Impel Market Expansion

The connected motorcycle market growth is being propelled by rapid urbanization and increasing traffic congestion in urban areas. The population rise in urban areas is due to the ease of connectivity and accessibility.

However, issues associated with unrestrained data access may hinder market growth to a considerable extent.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/connected-motorcycle-market-105186

Key Companies Enter into Partnerships to Increase Geographical Footprint

Pivotal industry participants are centered on adopting an array of strategic initiatives for expanding the reach of their products and increasing their geographical footprints. These steps comprise partnerships, collaborations, and the formation of alliances. Additional factors include mergers, acquisitions, and the introduction of new products.

Key Players Profiled:

• Continental AG (Germany)
• Robert Bosch GmbH (Germany)
• Telit (U.K.)
• Yamaha Motors (Japan)
• KTM (Austria)
• Ducati (Italy)
• Honda (Japan)
• Panasonic Corporation (Japan)
• BMW Motorrad (Germany)
• Harley Davidson (U.S.)   

Notable Industry Development

• December 2022 – Yamaha launched its Y-connect tech. The solution enabled the creation of engaging rider experiences by allowing the connection of motorcycles to smartphones and other devices.

Further Report Findings

• Europe dominated the connected motorcycle market share in 2022 and is estimated to expand at a substantial rate over the projected period. This can be mainly attributed to the presence of strict government policies.
• The North America market is expected to grow at a significant CAGR over the study period. The growth is due to increasing concerns associated with accidents and road fatalities.
• Based on communication type, the market is segmented into Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I). The Vehicle-to-Vehicle (V2V) segment is poised to depict notable expansion over the analysis period. The growth is impelled by the rising product adoption in vehicles.
• On the basis of network type, the market is subdivided into DSRC (Dedicated Short Range Communication) and cellular. The DSRC segment is touted to lead the market, with an appreciable CAGR over the forecast period. The surge is due to the escalating demand for various V2V applications.
• On the basis of connectivity type, the market is fragmented into integrated, tethered, and embedded. The embedded segment is anticipated to surge at a substantial CAGR over the projected period. The rise is due to the increasing demand for advanced technology.

 Table of Segmentation