The global MSVAS market will register an impressive CAGR of almost 23% by 2020, in terms of unit shipments.
Technavio has announced its latest market research report on MSVAS to its automotive electronics portfolio. This market analysis discusses the primary drivers and key emerging trends that will influence the growth of the global MSVAS market during the forecast period 2016-2020. Some of the top vendors listed in this industry analysis include Bosch, Garmin, Skully, and Honda.
In terms of geographical analysis, North America will dominate the global MSVAS market during the forecast period, accounting for around 49% of the total market share. The rise in the number of female riders and their influence on purchasing motorcycles will be a major factor driving force for the growth of the MSVAS market in North America, especially the US.
“One of the latest developments in the market is the assimilation of MSVAS with helmet-mounted ADAS. Motorcycle ADAS is one of the technological forerunners that the OEMs are integrating into vehicles by combining the functionalities of all other systems under one umbrella. These ADAS offerings comprise sensors mounted upon the motorcycle to monitor the surrounding environment for motion detection purposes. ADAS systems will use the helmet as the output device for all visual displays for signaling and warnings,” says Siddharth Jaiswal, a lead analyst at Technavio for research on automotive electronics.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Safety-oriented consumer behavior drivers
Around 250% registration to fatality conversion rates for motorcycles has created intrinsic demand for MSVAS. As per Technavio’s market study, if safety and rider assistance systems like anti-lock braking, MSVAS, and cruise control were fitted to all motorcycles, the number of motorcycle-related accidents will reduce by a third. MSVAS enables the biker to maintain a constant overview of the surrounding traffic situation and helps him to detect vehicles in their blind spot, with adequate time for the needed maneuvers. It also provides a significant improvement in riding, without removing the necessity for the rear view mirror and blind spot checks.
Regulation-oriented consumer behavior driver
The growing instances of lane violation ticket reduction will act as an added incentive for the implementation of MSVAS in vehicles. Lane violation constitutes a significant portion of the yearly tickets raised in the US. Lane violations include signal fails, lane state misjudgment, and dangerous swerves. It is predicted that the adoption of MSVAS would minimize the number of lane violations considerably, thereby saving bikers thousands of dollars annually.
Increase in sales of ultra-luxury and luxury motorcycles to drive sales of MSVAS
Owing to the growing awareness of the comfort level and heritage of ultra-luxury and luxury motorcycles, consumers across the globe are purchasing these vehicles. At present, the global demand for ultra-luxury motorcycles with ECC is rising due to the increase in the touring bikes market, as well as speed limits being imposed, which has pushed the OEMs to install ECC in their bike models. ECC fittings in motorcycles free the rider from wrist cramps that occur while riding long distance and help him in adhering to speed limits. Also, the presence of a backend unit in ECC ascertains the supervision of engine revolutions per minute (RPM) and speed signals, which are used to automatically adjust according to the terrain, contrary to traditional cruise control. The growing popularity of touring bikes, especially among baby boomers and early generation X population, will also augment the adoption of MSVAS in these vehicles.
Other prominent vendors in the market are Motorcycle warning system and Yamaha.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, key financials, etc. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global MSVAS Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Motorcycle Adaptive Cruise Control Market 2016-2020
- Global Motorcycle Airbag Jacket Market 2016-2020
- Global High-Performance Electric Motorcycle Market 2016-2020
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