Market Size of Motorcycle Advanced Rider Assistance System Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 12.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Motorcycle Advanced Rider Assistance Systems Market Analysis
The Motorcycle Advanced Rider Assistance Market was valued at USD 90.6 billion in 2020, and it is expected to reach USD 178 billion at a CAGR of 12% during the forecast period (2021-2026).
COVID-19 had a severe impact on the industry. The sales of motorbikes in different countries taking a nosedive at about 9 million units of lower sales compared to that of 2019 indicate the reduced market value of the industry. Additionally, the social distancing and lockdown restrictions across the world meant no travel or commute activity took place, which meant no market for either new systems to be installed or aftermarket replacements.
- Motorcycle advanced riding assistance system (ARAS) is specifically designed with a safe human-machine interface that helps in increasing the safety of the rider and the motorcycle. Motorcycle Advanced Rider Assistance System (ARAS) Market supports and assists the rider in reducing vehicle handling stress and providing comfort to the rider. It provides a combination of comfort and safety functions with the objective of accident avoidance.
- Asia-Pacific is leading the ARAS system largely due to a large number of motorcycles manufacture in the region. India also accounts for the highest number of motorcycles on the road. As a result, countries such as India and China are promoting ARAS technology to benefit motorcycle riders by offering various features, like automation, adaptability, enhancement of safety, and better riding experiences.
- Companies also are making riding considerably safer with assistance systems, such as anti-lock braking system (ABS) and motorcycle stability control (MSC). A combination of a radar sensor, brake system, engine management, and HMI (Human Machine Interface), is improving technology in the motorcycle-developed assistance market. For instance, in 2019, Ducati announced the development of a radar system for motorcycles. The advanced rider assistance systems (ARAS) in motorbike uses sensors and radar to warn the riders (using an advanced user interface) of any vehicle in the rider's 'blind spot' to avoid collisions. Ducati mentioned that the system is expected to make its way to the production models by 2020.
