At 20.1% CAGR, Global Motorcycle ADAS Market to Hit Valuation of USD 385.48 Million by 2032: Astute Analytica

Asia Pacific dominates the motorcycle ADAS market, driven by safety regulations and demand in India, China and Southeast Asia. Safety is paramount – features like ABS (now mandatory in many markets), Blind Spot Detection, and Forward Collision Warning are increasingly common. Electric motorcycles are a major growth factor, with ADAS boosting their appeal alongside environmental benefits. The tech is starting out premium, but costs will drop. Rider acceptance is key, so benefits and non-intrusiveness are crucial alongside evolving regulations for this safety revolution.

New Delhi, March 12, 2024 (GLOBE NEWSWIRE) — According to the latest Astute Analytica study, the global motorcycle ADAS market is projected to reach US$ 385.48 million by 2032, up from US$ 74.15 million in 2023, at a CAGR of 20.1% during the forecast period 2024–2032.

The market for motorcycle ADAS (Advanced Driver-Assistance Systems) is growing at an incredible CAGR of over 20.1% per year. The Asia Pacific region is predicted to lead the pack in the adoption of these systems with over 38.4% revenue contribution, and it’s not hard to see why – increased safety regulations coupled with a rise in consumer awareness make this region an ideal target. A recent survey shows interest in these safety features as well: over 70% of motorcyclists said they would consider buying a bike that featured advanced ADAS tech. That’s huge! This spells great news for companies specializing in this technology – such as Bosch, Continental, KTM, Ducati, and BMW.

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But why are consumers so interested? Well, specific ADAS technologies have been proven to significantly reduce collisions. For instance, a Blind Spot Detection system on a motorcycle could prevent up to 10% of accidents occurring during lane changes. Adaptive Cruise Control systems can help maintain safe following distances which could potentially reduce rear-end collisions by up to 15%. Forward Collision Warning systems could reduce frontal collisions by around 20%, while Autonomous Emergency Braking works to prevent or mitigate those same crashes. Coming in at number five is curve-warning system in the global motorcycle ADAS market which has the potential to cut down curve-related accidents by about 8%. Lastly, braking performance plays a big role in accidents and fall-counts as well: ABS systems can stop wheels locking up which leads engine power being lost – potentially causing serious damage.

However, there are some challenges ahead for developers of this tech: limited space on motorcycles may be one factor that holds back innovation, another being weather conditions affecting sensor performance and finally rider acceptance of this new tech.

Key Findings in Global Motorcycle ADAS Market

Market Forecast (2032) US$ 385.48 million
CAGR 20.1%
Largest Region (2023) Asia Pacific (38.4%)
By Component Hardware (59.0%)
By Vehicle Type Gasoline (84.4%)
By Price Low-Priced (54.2%)
By Distribution Channel Original Equipment Manufacturer (OEM) (87.3%)
Top Trends
  • Mandatory inclusion of ADAS features in new motorcycles.
  • Integration of ADAS with electric motorcycles in Europe
Top Drivers
  • Stricter government regulations related to motorcycle safety.
  • Increasing consumer awareness of the benefits of ADAS
  • Advancements in sensor technology leading to cost reductions
Top Challenges
  • High initial cost of ADAS-equipped motorcycles
  • Limited space availability on motorcycles for ADAS components
  • Potential skepticism from some motorcyclists towards ADAS

The Lucrative Landscape of Motorcycles Market Showcases Potential of Motorcycle ADAS Market

Motorcycle sales across the globe have reached around 52.4 million units in 2023, up by about 2.6% from the previous year, for both motorcycles and scooters combined. In terms of volume, American consumers purchased roughly 554 thousand motorcycles in FY2023, an increase of roughly 8.9% compared to FY2020. Market Segmentation shows some interesting results where smaller motorcycles with engine capacity up to 150cc account for nearly about 60% share of the global market. For North America in FY2023, motorcycles in the segment of 801cc-1,000cc have a major share with around 31%. The motorcycle markets are segmented based on type as Adventure bikes, Cruisers bikes, Mopeds bikes, Sports bikes, Standard bikes and Touring bikes; among which Cruiser motorcycles are witnessing higher adoption and expected to grow at a CAGR of approximately about 4.2% through FY2033.

Asia Pacific is expected to contribute over about 75% revenue shares in the global motorcycle market by end use: The worldwide consumption of motorcycles is supposed to expand at CAGR of about 4.1% CAGR between 2024 and 2032 and hold substantial market share at almost 62.5%, due to strong consumer base in countries like India, China Indonesia and Vietnam followed by Europe which is estimated to grow at a CAGR of approximately about 7.3% during FY2022-FY2028 with Germany being one major country within this region.

The prominent players operating into the motorcycle market includes TVS Motor Company Limited (TVS), Suzuki Motor Corporation (SMC), Bajaj Auto Limited (Bajaj), Eicher Motors Limited (EML), Hero MotoCorp Ltd., Ducati Motor Holding S.p.A (Ducati Motor Holding), Yamaha Motor Co., Ltd. (Yamaha) and Others, growing demand for motorcycles in rural and semi-urban areas due to their low cost is a significant trend. Furthermore, rising adoption of electric motorcycles and government support towards electro-mobility are some other factors which are also responsible for market growth.

Motorcycle ADAS Market: A Segmented Analysis of Growth Opportunities

  • Component Analysis: Hardware dominates the motorcycle ADAS market at 59% revenue share. The role of sensors, ECUs, and gear assistors is highlighted as they enable core safety features like ABS, ACC, and TCS. But in a rapid growth of 22% CAGR, the service segment (maintenance and software updates) starts to gain steam. This comes as keeping ADAS systems up-to-date and functioning reliably becomes more important than ever. The growing technological complexity of motorcycles really shines.
  • Vehicle Type Analysis: A whopping 84.4% market share is controlled by gasoline motorcycles when it comes to ADAS technology use. This emphasizes just how widely used this infrastructure is on a global scale. On a different playing field, electric motorcycles are expected to grow at the highest CAGR of 21.2%. It’s clear that a focus on sustainability and improved performance is steering riders towards integrating ADAS into electric powertrains.
  • Price Analysis: In price-sensitive emerging economies, low-priced ADAS holds 54.2% of the share of motorcycle ADAS market – no surprises here. However, premium motorcycles with advanced ADAS features look set to experience exponential growth at a CAGR of 23.2%. It seems buyers in developed markets are willing to pay for increased safety, comfort, and performance.
  • Distribution Channel Analysis: With a massive 87.3% market share in place, OEM shows consumer trust in sourcing quality and reliable ADAS systems from manufacturers directly. Aftermarket sales however are increasing rapidly at a CAGR of 21.4%. This isn’t overly surprising given that older motorcycles need upgrading with better technology but also that people want replacement or customized components offering flexibility and personalization options for their bikes.

Recent Advancements and Developments in Motorcycle ADAS Market

  • Bosch Mobility is at the forefront of developing ARAS for motorcycles, which could prevent approximately 1 in 7 motorcycle accidents. It’s still unclear exactly how it works, but it is said to integrate a radar sensor, brake system and engine management into one, while also providing an accurate picture of the motorcycle’s surroundings via Human Machine Interface (HMI). Bosch’s current systems include Adaptive Cruise Control (ACC), Forward Collision Warning System and Blind Spot Detection. However, they’re focusing on a new radar generation to improve these systems even further. This time around they’re honing in on both front and rear radars to get better coverage all around the bike in the motorcycle ADAS market. In addition to that they are developing an integrated connectivity cluster (ICC).
  • Apparently, companies like Ducati are making some neat innovations too with their latest motorcycles coming equipped with ABS and Motorcycle Stability Control (MSC).
  • The Connected Motorcycle Consortium has been experimenting with ADAS features specifically tailored for motorcycles. After conducting a series of tests, they concluded that ADAS features can significantly improve in detecting motorcycles, however no actual data was provided so we’re not sure just how significant this is, or even if it’s good news or bad news for motorcycles.
  • Innovv UK announced their Third Eye Motorcycle Radar & Blind Spot Detection System which will be available soon.

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India and China Are Most Lucrative Motorcycle ADAS Market, Offers Significant Opportunities

Due to a number of factors, India and China are highly desirable countries for Motorcycle ADAS market providers. Both nations have massive motorcycle markets. India leads with over 243 million motorcycles on the road, while China has over 89 million. Moreover, these markets are growing quickly. India expects its motorcycle market to grow at a CAGR of 3.4% by 2028 and China projects similar growth at a CAGR of 2.4% by 2033, providing an incredibly large user base for ADAS technologies.

In both countries, safety is a major driving force behind the adoption of ADAS features. In India, there are more than 205 motorcycle fatalities daily—over 44% of all road deaths in the country—and China recently reported over 10k fatalities in just one year. Features like ABS and collision warnings could help mitigate these alarmingly high accident rates, making such technologies alluring to both nations’ markets. Governments are taking notice as well; India will require all new motorcycles above 125cc to have ABS starting in 2023 and China is expected to introduce similar regulations soon.

The populations of the motorcycle ADAS markets continue to embrace technology at an increasing rate too, which will only help the case for adopting ADAS systems there. With over 606 million smartphone users in India and around one billion in China, it’s clear that people in these nations are not afraid of technological advancements so long as they’re beneficial to their lives. Lastly, EVs play another important role here. The Indian government wants EVs to account for at least thirty percent of vehicle sales by the end of the decade while China already dominates the global electric vehicle market. By optimizing range efficiency and including safety features on electrical motorcycles through ADAS integration, riders may become more confident when considering purchasing an electric bike and therefore drive further adoption.

Global Motorcycle ADAS Market Key Players

  • Autoliv
  • BMW Motorrad
  • Ducati Motor Holding S.p.A.
  • Garmin Ltd.
  • Harley-Davidson, Inc.
  • Harman International Industries
  • Hero MotoCorp Limited
  • Hitachi Ltd
  • Honda Motor Co. Ltd.
  • KTM AG
  • Magna International Inc.
  • NVIDIA Corporation
  • NXP Semiconductors
  • Panasonic Corporation
  • Renesas Electronics Corporation
  • Robert Bosch GmbH
  • Yamaha Motor Co., Ltd.
  • Other Prominent Players

Key Segmentation:

By Component

  • Hardware
    • Sensors
    • Gear Assitors
    • Electronic Control Unit
  • Software
    • Lane Departure Warning/Correction
    • Antilock Braking Systems (ABS)
    • Blind Spot Detection & Monitoring/BSI
    • Adaptive Cruise Control (ACC)
    • Traction Control System
    • Others

By Vehicle Type

  • Gasoline
  • Electric

By Price

  • Low
  • Medium
  • High

By Distribution Channel

  • OEM
  • Aftermarket

By Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa (MEA)
  • South America

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About Astute Analytica

Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

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