The type of motorcycle vehicle will increase by 38.3%
Autonomous bike market
According to the report published by Allied Market Research, the global self-driving bicycle market is estimated to reach $ 3.26 billion by 2027 and generate $ 35.71 billion by 2035, with a CAGR of 34.9% from 2028 to 2035.
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Increasing customer demand for technologically advanced motorcycles and improving driver safety is driving the growth of the global self-driving bicycle market. However, imprecision and calibration issues in autonomous vehicles, design issues, and high operating costs of autonomous bicycles are hampering market growth. On the contrary, the increase in the installation of smart technologies in motorcycles and the increase in initiatives regarding the design and development of innovative systems would open lucrative opportunities for market players in the years to come.
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Due to the Covid-19 pandemic, several employees have started working from home, hampering demand for self-driving vehicles, including bicycles and cars.
Additionally, the extended lockdown has hampered the manufacture of self-driving bikes, disrupted the supply chain, and created a labor shortage.
The global autonomous bicycle market is categorized on the basis of technology, level of range, type of vehicle, and region.
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On the basis of technology, the gyroscopes segment is expected to dominate the market in terms of revenue throughout the projected period. However, the intelligent speed assist segment is expected to post the highest CAGR of 36.3% during the forecast period.
Based on the autonomy level, the fully autonomous segment is expected to register the highest CAGR of 45.8% during the forecast period. However, the semi-autonomous segment would capture the lion’s share from 2027 to 2035.
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The global autonomous bicycle market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific market is expected to represent the highest CAGR of 37.0% during the forecast period. However, the North American market would account for the largest share from 2027 to 2035.
Global Autonomous Bikes Market includes in-depth analysis of major 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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