Autonomous Bike Market to Reach $35.71 Billion by 2035, at 34.9% CAGR
PORTLAND, OREGON, UNITED STATES, April 18, 2023 /EINPresswire.com/ — As per the report published by Allied Market Research, the global autonomous bike market would reach $3.26 billion by 2027, and would generate $35.71 billion by 2035, growing at a CAGR of 34.9% from 2028 to 2035.
Increase in demand from customers for technologically advanced motorbikes and improvement in rider safety drive the growth of the global autonomous bike market. However, inaccuracy and calibration issues in autonomous vehicles and design issues and high costs of operating autonomous bikes hamper the market growth. On the contrary, rise in installation of smart technologies in motorbikes and increase in initiatives regarding the design and development of innovative systems would open lucrative opportunities for the market players in the coming years.
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Due to the Covid-19 pandemic, several employees started working from home, which hampered the demand for autonomous vehicles including bikes and cars.
Moreover, the prolonged lockdown hampered the manufacturing of autonomous bikes, disrupted the supply chain, and created a shortage of workforce.
The global autonomous bike market is classified on the basis of technology, level of autonomy, vehicle type, and region.
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Based on technology, the gyroscope segment is expected to dominate the market in terms of revenue throughout the projected period. However, the intelligent speed assistance segment is expected to manifest the highest CAGR of 36.3% during the forecast period.
On the basis of level of autonomy, the fully autonomous segment is estimated to register the highest CAGR of 45.8% during the forecast period. However, the semi-autonomous segment would hold the lion’s share from 2027 to 2035.
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The global autonomous bike market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is projected to portray the highest CAGR of 37.0% during the forecast period. However, the market across North America would contribute the largest share from 2027 to 2035.
The global autonomous bike market includes an in-depth analysis of the prime market players such as Flo Mobility Private Limited, BMW Group, Honda Motor Co., Ltd., Go X Apollo, Refraction AI, IAV, Kawasaki Heavy Industries, Ltd., Spin, Tortoise, and Yamaha Motor Co., Ltd.
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