Parking Assist acquired the largest market revenue share in the India Advanced Driving Assistance Systems Market – 6Wresearch.
India Advanced Driving Assistance Systems Market experienced exponential growth during 2021 on account of the launch of ADAS-equipped passenger vehicle models from prominent brands such as Mahindra & Mahinda and MG. Furthermore, a few more brands such as Honda are expected to introduce ADAS features in 2022 which would further lead to market growth.
Owing to the outbreak of covid-19 in India in 2020 and its subsequent lockdowns, the demand for automobiles from customers suffered a setback arising from a shortage of critical raw materials such as semiconductors from the local manufacturing industry and exporting countries, slowing down the adoption and production of ADAS equipped vehicles by the Indian automobile manufacturers. However, as the value chain gaps in the market begin to subside, advanced driving assistance systems would observe higher adoption rates among vehicle manufacturers leading to overall market growth.
According to 6Wresearch, India Advanced Driving Assistance Systems Market size is projected to grow at a CAGR of 54.7% during 2022-2028. The primary reason for the growth in the advanced driving assistance systems demand can be attributed to government efforts to improve road safety and reduce the rate of road accidents that the country has been witnessing. Moreover, the voluntary adoption of active as well as passive safety features by vehicle manufacturers in India to enhance GNCAP ratings of the vehicles acted as a catalyst for the growth of advanced driving assistance systems in the country.
According to Arjun Khurana, Research Associate, 6Wresearch, “By sensor types, camera sensors acquired the highest market revenue share in India advanced driving assistance systems market owing to their multi-utility advantage and high dependence of level 1 & level 2 ADAS systems on camera sensors. Further, the launch of ADAS system-equipped cars by Mahindra & Mahindra and MG, assisted passenger vehicles to attain the highest share in the Indian advanced driving assistance systems market. The segment would continue its dominance during the forecast period driven by high demand for luxury and technologically advanced vehicles and rising income levels in the country.”
Some of the major companies in India advanced driving assistance systems market include Robert Bosch, Denso, Wabco, and Continental Automotive, among others.
“The India ADAS Market (2021-2028)” report provides an in-depth analysis with 21 figures and 05 tables, covered in 71 pages. The report estimates and forecasts the overall India Advanced Driving Assistance Systems Market by product types, sensor types, vehicle types and regions. The report provides an unbiased and detailed analysis of the ongoing trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
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