According to Custom Market Insights (CMI), the India ADAS Market size was estimated at USD 2.12 billion in 2023 and is anticipated to reach around USD 9.98 billion by 2032, recording a CAGR of roughly 18.80% between 2023 and 2032.
India ADAS Market: Growth Factors and Dynamics
The India Advanced Driving Assistance Systems (ADAS) market is expected to grow significantly in the coming years, driven by several factors. One of the primary drivers is the increasing demand for passenger vehicles, which is expected to boost the demand for ADAS technologies. The rising disposable income of the Indian middle class is another factor that is expected to drive the growth of the ADAS market. With increasing income levels, consumers are looking for vehicles with advanced features such as ADAS systems.
Another key factor driving the growth of the Indian ADAS market is the government’s push for road safety. The Indian government has been taking several measures to improve road safety in the country, and the adoption of ADAS technologies is a key aspect of this effort. Additionally, the growing awareness among consumers about the benefits of ADAS technologies is expected to drive market growth.
The growth of the India ADAS market is also driven by the increasing investments made by global and domestic players in the market. Several international players are partnering with domestic players to leverage their expertise in the local market. Furthermore, the increasing focus on research and development by key players to introduce advanced and innovative ADAS technologies is expected to further drive the growth of the market.
The India ADAS market is poised for significant growth in the coming years, driven by factors such as rising demand for passenger vehicles, increasing disposable income, government initiatives for road safety, growing consumer awareness, and increasing investments in the market.
COVID-19 Analysis: India ADAS Market
The COVID-19 pandemic had a significant impact on the automotive industry, including the India Advanced Driving Assistance Systems (ADAS) market. The Indian automotive industry witnessed a major slowdown in sales due to the pandemic and the subsequent lockdowns imposed by the government to contain the spread of the virus. The ADAS market was not immune to these effects, and the market witnessed a decline in demand in 2020.
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However, as the country is now recovering from the pandemic, the India ADAS market is expected to bounce back. The government’s push for road safety and the increasing demand for passenger vehicles is expected to drive market growth in the post-COVID era. Moreover, the increasing awareness among consumers about the benefits of ADAS technologies is expected to boost the demand for these systems in the coming years.
The pandemic also highlighted the importance of ADAS technologies in enhancing safety and reducing accidents. As a result, there has been a growing demand for these technologies in the commercial vehicle segment. The demand for ADAS technologies in the trucking industry, in particular, has increased, as transporters look for ways to improve the safety of their drivers and reduce accidents.
Competitive Landscape – India ADAS Market
- Bosch Limited: Bosch is a leading player in the India ADAS market, offering a wide range of products such as adaptive cruise control, lane departure warning, and blind-spot detection systems.
- Magna International Inc.: Magna is a leading Tier 1 supplier of ADAS systems, offering products such as advanced driver assistance systems, cameras, and radar sensors.
- WABCO India Limited: WABCO India is a leading manufacturer of advanced braking systems, offering products such as electronic braking systems and advanced driver assistance systems.
- Autoliv India Pvt. Ltd.: Autoliv is a global leader in automotive safety systems, offering a wide range of products such as airbags, seat belts, and ADAS systems.
- ZF Friedrichshafen AG: ZF is a global technology company, offering a wide range of products such as cameras, radars, and LiDARs for ADAS systems.
- Denso India Pvt. Ltd.: Denso is a leading automotive supplier, offering a wide range of products such as sensors, ECUs, and ADAS systems.
- Valeo India Pvt. Ltd.: Valeo is a global automotive supplier, offering a comprehensive range of products such as parking assistance, camera-based ADAS systems, and radar-based ADAS systems.
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