India ADAS Market
India ADAS Market Size Zooming More Than 2.8X to Reach Value of USD 3.34 Billion by 2029
Published | 27 November 2023
India ADAS (advanced driver assistance systems) market is flourishing because of an increasing focus on vehicle safety and growing awareness about and rapid adoption of ADAS technologies.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India automotive advanced driver assistance systems (ADAS) market size at USD 1.19 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the India ADAS market size to grow at a significant CAGR of 18.81% reaching a value of USD 3.34 billion by 2029. Major growth drivers for the India ADAS market include the growing focus on passenger well-being and safety, coupled with governmental mandates for safety features. Notably, the surging popularity of autonomous and semi-autonomous vehicles contributes to market expansion. Beyond safety, ADAS technology provides various advantages, such as improved traffic awareness, lower insurance costs, reduced maintenance expenses, and enhanced fuel efficiency. This growing adoption of ADAS is expected to fuel market growth in the foreseeable future. Also, ADAS technologies have the potential to address India's pressing issue of road accidents, with the country currently holding the unfortunate record of the highest global road accident fatalities, averaging 415 deaths daily, as reported by the World Health Organization. ADAS systems can play a pivotal role in reducing this alarming statistic by aiding drivers in vehicle control and accident prevention. However, high cost of ADAS systems and poor road infrastructure are anticipated to restrain the overall market growth during the forecast period.
India ADAS Market – Overview
The India ADAS (Advanced Driver Assistance Systems) market denotes the industry and market sector in India dedicated to developing, manufacturing, and implementing cutting-edge technologies and systems aimed at bolstering vehicle safety and driver support. These systems typically incorporate functionalities like adaptive cruise control, lane-keeping assistance, collision avoidance, and other innovations designed to enhance road safety, reduce accidents, and elevate the overall driving experience. Also, the India ADAS market encompasses the entire process, from the production to the integration of these systems into vehicles, and it's influenced by a blend of regulatory mandates and consumer-driven factors. In essence, the India Advanced Driver Assistance Systems (ADAS) market pertains to the domain of technologies and solutions that not only boost vehicle safety but also enhance driver comfort. These solutions encompass features such as lane departure warnings, adaptive cruise control, collision mitigation, and automated parking. ADAS technologies utilize sensors, cameras, and other advanced systems to empower drivers in controlling their vehicles and preventing accidents.
Impact of COVID-19 on India ADAS Market
COVID-19 pandemic adversely affected the India ADAS market. Lockdowns, supply chain disruptions, and reduced vehicle production negatively impacted the installation of ADAS systems. Economic uncertainties and reduced consumer spending power also hindered the adoption of these advanced technologies. However, the pandemic highlighted the importance of safety and hygiene, potentially driving greater interest in ADAS features like touchless controls and autonomous driving. Overall, while COVID-19 initially posed challenges to the India ADAS market, it also created opportunities for innovation and adaptation as the automotive industry sought to recover and respond to changing consumer preferences.
India ADAS Market – By Sensor
By sensor, the India ADAS market is divided into Ultrasonic Sensor, Infrared (IR) Sensor, Radar Sensor, Laser, Image Sensor, and LiDAR Sensor segments. The Radar sensor segment holds the highest share in the India ADAS market by sensor. Radar sensors excel in various environmental conditions, such as fog or heavy rain, which are prevalent in parts of India. They offer crucial functionalities like adaptive cruise control and collision avoidance by accurately detecting surrounding objects, vehicles, and pedestrians. Additionally, their longer detection range and ability to work in low visibility conditions make them a preferred choice. As a result, the Radar sensor segment is widely adopted, offering essential safety and convenience features, and thus holds the highest share in the India ADAS market.
Major players operating in the India ADAS market include Bosch Limited, Magna International Inc., WABCO India Limited, ZF Friedrichshafen AG, Denso India Pvt Ltd, Valeo India Pvt Ltd, Autoliv India Pvt Ltd, and Continental Automotive India Pvt Ltd. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of India ADAS Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India ADAS Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing qualitative and quantitative data to boost the performance of your business solutions. BlueWeave has built its reputation by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
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- India ADAS Market, By System (Tire Pressure Monitoring System (TPMS), Drowsiness Monitor System, Intelligent Parking Assist System (IPAS), Adaptive Cruise Control System, Blind Spot Object Detection System, Lane Departure Warning System, Adaptive Front-lighting System); By Sensor (Ultrasonic Sensor, Infrared (IR) Sensor, Radar Sensor, Laser, Image Sensor, LiDAR Sensor); By Vehicle Type (Passenger Cars, Light Commercial Vehicles (LCVs), Buses, Trucks); By Region (North India, South India, East India, West India), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
Publish Date: November 2023
An increasing demand for vehicle safety, growing awareness of ADAS technologies, and rising disposable incomes are projected to propel the expansion of the India automotive advanced driver assistance systems market during the forecast period between 2023 and 2029.
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