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Technavio's market research analysts estimate that the self-balancing motorcycle market will grow at a CAGR of about 199% by 2021. The rising number of on-road accidents and collisions is one of the major challenges faced by the growing automobile industry. Owing to the lack of protective wears and gears, two-wheeler riders are highly susceptible to accidents. It has been observed that two-wheelers account for more than 22% of the road accident deaths each year and with the growing utilization of motorcycles, this number will increase in the coming years. This will induce OEMs to integrate motorcycles with ride-assisted technologies and advanced safety systems to curb motorcycle accidents. The integration of self-balancing feature in motorcycles not only prevents riders from falling during crashes but also prevents them from incurring roll-over injuries. With the growing need for the introduction of safer motorcycles, these benefits will significantly aid in the growth of the self-balancing motorcycle market.
Influenced by the demand from customers and the introduction of stringent safety regulations, OEMs in the motorcycle industry are increasingly focusing on incorporating advanced driver assistance systems (ADAS) technologies in their motorcycles. One of the key vendors, Honda Motors has already introduced self-assisting technology to increase the safety, comfort, and convenience of the rider in one of their premium motorcycles. The technology supports self-balancing capabilities and enables the motorcycle to stand upright even in extremely low speed. The development of this self-stabilizing motorcycle with ?ride assist technology? by Honda Motors will increase the preference of customers towards self-balancing motorcycles, fueling market growth.
The self-balancing motorcycle market is highly concentrated with the presence of established global and regional vendors. The regional vendors are struggling to compete with the international vendors especially in terms of features such as quality, safety, and price. The advent of advanced motorcycle safety systems encourages vendors in this self-balancing scooter market to design and develop products equipped with ride assisting technologies.
The leading vendors in the market are
The other prominent vendors in the market are Thrustcycle, Ducati, Kawasaki Motor, and Bimota.
The automotive industry currently uses gyroscopes that employ micro-machined silicon-based mass-spring structures that are subject to flex loading according to the motion of the vehicle. The development of self-balancing motorcycle prototypes from players, such as 'Gyroscale' by Thrustcyle and BMW Motorrad's Vision NEXT 100, will drive the growth of the gyroscope equipped self-balancing motorcycle market segment during the forecast period.
Owing to technological advancements, leading motorcycle manufacturers are focusing on designing and developing innovative systems. BMW Motorrad has already showcases the concept self-balancing electric motorcycle ?Vision next 100?. The motorcycle is equipped with camera-based sensor technology and has self-balancing wheels that keep the motorcycle upright when not in motion. Moreover, the company has also developed the motorcycle with minimum joints which aids in reducing the overall weight. Furthermore, the motorcycle also comes with a bespoke suit integrated with sensors to monitor the rider's pulse and body temperature.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the self-balancing motorcycle market. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
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Our market research methodology for the global self-balancing motorcycle market
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