Motorcycle ADAS Market Analysis and Forecast to 2031: By Component (ECU, Sensors, Gear Assitors, Others), System (ABS, ACC, TCS, Others), Propulsion (Gasoline, Electric), and Region
The global motorcycle ADAS market was valued at US$ 1.2 billion in 2021 and it is anticipated to grow up to US$ 2.6 billion by 2031, at a CAGR of 7.7% during the forecast period.
Advanced driver assistance systems (ADAS) are electronic components in vehicles that provide the driver with an intelligent driving experience. These systems comprise unique sensors such as ultrasonic sensors, image sensors, radar, and others. Deployment of ADAS in vehicles enhances comfort and ensures safety on the road, which is anticipated to be a major trend in the automotive industry. System of motorcycle ADAS includes anti-lock braking system (ABS), adaptive cruise control (ACC), traction control system (TCS), and others.
Market Drivers and Trends
Motorbikes are the most used conveyance option to travel from one location to another. They let the riders move through constricted spaces, are fast & highly maneuverable, and offer a thrilling experience while traveling on different terrains. Over the years, different kinds of motorcycles such as sport, cruiser, touring, and mopeds have been launched to cater to different customer needs. With an increasing number of cars fitted with advanced navigation, infotainment, telematics, and autonomous technologies, the demand for such bike features is anticipated to increase in the coming years. While a rising number of companies are installing features such as a global positioning system (GPS) and connected bikes, some are developing bikes with ADAS features that are anticipated to offer riders a superior driving experience. By installing state-of-the-art sensor systems and artificial intelligence (AI) technologies, bikes would offer features projected to cater to the requirements of a skilled and untrained rider. Hence, a rise in demand for technologically advanced bikes is expected to propel the growth of the global motorcycle ADAS market.
Market Restraints and Challenges
The increasing installation of sensors and devices in motorcycles has made driving convenient. Sensors provide additional services such as music controls, navigation, hands-free calls, and messages. Built-in computer systems and sensors provide a better driving experience, but if mismanaged or incorrectly updated, they can cause catastrophic accidents and injuries. Depending on where and how it occurs, automotive software failure can place vehicle occupants in severe danger of catastrophic injury. Automotive software has evolved into complicated and sophisticated programs for operating advanced automobile technology and components such as camera systems, sensors, and others. As the automotive software gets intricate, the risk of failure increases. Many modern vehicles contain multiple electronic control units (ECUs) connected through network connections, most of which are required to perform essential safety systems such as antilock braking system (ABS), adaptative cruise control (ACC), traction control system (TCS), object detection based on camera images, and others. A company in the automotive supply chain may provide software for ECUs, or the manufacturer may develop and code it. When working with ECUs, one must test the complete system to ensure that all components are working properly. The failure of the vehicle's automated braking and forward collision avoidance systems might result in accidents and injuries if an ECU malfunctions. Moreover, accidents can occur when software malfunctions and essential vehicle systems cease operating. In addition, software bugs create misalignment or disruption in the automotive sensors' real-time environmental monitoring capability. The failure of automotive software and sensors has a negative effect on the performance of the ADAS system, limiting the growth of the global motorcycle ADAS market.
Global Motorcycle ADAS Market Segmental Overview
The report analyses the global motorcycle ADAS market based on component, system, propulsion, and region.
Global Motorcycle ADAS Market by Component
Based on component, it is segmented into ECU, sensors, gear assitors, and others. The ECU segment is expected to have the largest motorcycle ADAS market share in 2021. Motorcycle manufacturers will move from carburetors to electronic systems to comply with regulations. Electronically controlled systems enable motorcycles (and other small engine applications) to meet stricter emissions regulations. Due to multiple benefits, the ECU segment is expected to receive the main market attraction resulting in market growth.
Global Motorcycle ADAS Market by System
Based on system, it is segmented into ABS, ACC, TCS, and others. The ABS segment is expected to dominate the market during the forecast period. Factors attributing to the growth of the ABS segment is increasing motorbikes accidents due to brake failure and increasing awareness regarding road safety among consumers. Adaptive cruise control is the second dominating segment in the market owing to the increasing demand for accurate bike data for improvement of future bike performances. Due to the abovementioned factors, the ABS segment is expected to dominate the market during the forecast period.
Global Motorcycle ADAS Market by Propulsion
Based on propulsion, it is bifurcated into gasoline and electric. The gasoline segment is expected to be the largest segment in the motorcycle ADAS market in 2021 owing to the increasing production of motorcycles and increasing demand for technologically advanced cruise control of bike rides. Thus, the gasoline segment will likely hold a major market share in 2021.
Geographical Analysis of Global Motorcycle ADAS Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The Europe market is expected to hold the majority of the market share in 2021 owing to the high rate of adoption of systems and the development of the automotive sector infrastructure, leading to increased production of vehicles with safety systems, especially in Germany, France, the U.K., and Spain. Major motorcycle manufacturers are present in the region. This, in turn, boosts the demand for motorcycle ADAS in the Europe region.
Major Players in the Global Motorcycle ADAS Market COVID-19 Impact
In 2020, the COVID-19 pandemic forced governments across the globe to implement stringent lockdown and ban the import-export of essential raw material items for most of 2020 and a few months in 2021. This led to a sudden decline in the availability of important raw materials for vehicle components. As a result of interrupted supply chains and production schedules caused by the COVID-19 pandemic, aviation production, and sales suffered severely, which, in turn, negatively impacted the market for motorcycle ADAS market in 2020.
However, in 2021 and 2022, the production of automobiles increases globally. Similarly, the manufacturing of motorcycle ADAS rises as per increased vehicle demand. Both these factors have led to positive market growth.
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