India Advanced Driving Assistance Systems Market Overview
India Advanced driving assistance systems market witnessed slower development in comparison with advanced economies on account of poor road infrastructure and fast evolving government regulations in the automotive sector due to which vehicle manufacturers majorly focused on investing in the development of BS 6 technology and electric vehicles segment, delaying the adoption of advanced driving assistance systems in the country. During 2021, Advanced Driving Assistance Systems experienced sluggish adoption by passenger vehicle OEM’s owing to COVID-19 induced shortage of semiconductors, which are vital components of advanced driving assistance systems. However, since advanced driving assistance systems equipped vehicles were launched in late 2021, COVID-19 did not have a direct impact on the market.
According to 6Wresearch, India Advanced Driving Assistance Systems Market size is projected to grow at a CAGR of 54.7% during 2022E-2028F. The primary reason for growth in the India advanced driving assistance systems industry can be attributed to government efforts to improve road safety and reduce the rate of road accidents that the country has been witnessing. Moreover, voluntary adoption of active as well as passive safety features by vehicle manufactures in India to enhance GNCAP ratings of the vehicles acted as a catalyst to the growth of advanced driving assistance systems in the country.
Market by Product Types
By product types, park assist system acquired the highest revenue share in India advanced driving assistance systems market owing to wide presence in the passenger vehicle segment and higher cost arising from numerous sensors required to support their functioning.
Key Highlights of the Report:
- India Advanced Driving Assistance Systems Market Overview
- India Advanced Driving Assistance Systems Market Outlook
- India Advanced Driving Assistance Market Trends
- India Advanced Driving Assistance Systems Market Forecast
- Market Drivers and Restraints
- Competitive Benchmarking
- Key Strategic Recommendations
- India Advanced Driving Assistance Market Share, By Market Players
- Forecast of India Advanced Driving Assistance Systems Market Revenues, for the Period 2021-2028F
- Forecast of India Advanced Driving Assistance Market Revenues, By Vehicle Types, for the Period 2021-2028F
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