What are Key Factors Fuelling the Surge of Indian Advanced Driver Assistance Systems (ADAS) Market?

One of the biggest factors propelling the demand for advanced driver assistance systems (ADAS) in India is the rising incidence of road accidents in the country. Since the last few years, there has been a massive surge in the prevalence of road accidents and fatalities in the country, which have consequently boosted the need for the installation of ADAS in vehicles in order to improve vehicular safety. The Government of India (GOI) intends to make the integration of ADAS in passenger vehicles mandatory by 2022, in order to reduce the incidence of road accidents in the country.

The other important factors responsible for the surge in the demand for ADAS in India are the soaring disposable income of people and the increasing demand for vehicles equipped with automated artificial intelligence (AI)-driven systems. Nowadays, people are preferring vehicles equipped with various types of advanced systems, mainly on account of their higher purchasing capability and the rapid technological advancements in the automotive sector. Driven by these factors, the Indian advanced driver assistance systems market is predicted to witness rapid growth during the forecast period (2020–2030).

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There are multiple types of advanced driver assistance systems incorporated in vehicles — drowsiness monitoring system (DMS), adaptive cruise control system (ACCS), tire-pressure monitoring system (TPMS), blind spot detection system (BSDS), adaptive front-lighting system (AFLS), lane departure warning system (LDWS), parking assist system (PAS), and various other types of driver monitoring and night vision systems. Amongst these, BSDSs and ACCSs are predicted to observe wide-scale adoption in vehicles during the forecast period. The AFLS is anticipated to register the fastest growth in demand during the forecast period. 

There are different types of sensors used in the advanced driver assistance systems, namely infrared sensors, image sensors, radar sensors, ultrasonic sensors, laser sensors, and light detection and ranging (LiDAR) sensors. Out of these, the LiDAR sensors are predicted to record the highest growth in demand during the forecast period. In addition to this, the radar sensors are expected to register the highest sales amongst the different types of sensors, during the forecast period. 

The biggest trend currently being observed in the Indian ADAS market is the increasing number of technical collaborations amongst the major automobile and ADAS manufacturing companies. These collaborations are being formed mainly in order to meet the surging technology demands in the country. Moreover, the rapid technological advancements are significantly boosting the need for enhanced safety and comfort features in vehicles, which is in turn, propelling the demand for vehicles equipped with ADAS, in the country. For instance, Mando Corp. signed a contract for the supply of ADAS, with Mahindra & Mahindra Ltd. in April 2019. 

Hence, it is clear that owing to the increasing prevalence of road accidents in the country and the rising disposable income of the people, the demand for ADAS is expected to shoot-up in India over the next few years.

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Rising Vehicular Safety Regulations to Power Boom in Global Advanced Driver Assistance System (ADAS) Market

Due to the rising demand for safety and comfort features in vehicles, owing to the swift advancements in technology, the demand for advanced driver assistance systems (ADASs) is predicated to boom in the coming years. The rapid advancements in the sensor technology have propelled innovations and developments in electronic equipment, which is promoting the adoption of advanced systems in vehicles, by various manufacturers across the globe. Furthermore, the enhanced comfort and support features provided by ADASs, such as parking aid and cruise control, are further boosting the demand for these systems. 

The mushrooming volume of sales of connected cars across the world, on account of the rapid technological advancements, is another major factor fuelling the growth in the demand for ADAS. Moreover, the rising regulations by various governments, especially the ones in developed countries, aimed at increasing vehicular safety, are further pushing the demand for ADAS. Due to these factors, the global ADAS market is expected to witness a massive increase in its value, not only in developed nations, but the developing ones as well.

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The major components used in ADAS are sensors and systems. Of these, the systems used in ADAS are expected to register faster growth in demand in the coming years. The widely used types of ADASs are pressure monitoring systems (TPMS), intelligent parking assist systems (IPAS), drowsiness monitoring systems, adaptive cruise control systems, lane departure warning systems, blind spot objection detection systems, and adaptive front lighting systems (AFLS). Amongst these, TPMSs are expected to record the highest growth in procurement in the coming years, as their installation has been made mandatory in numerous European countries. 

The global advanced driver assistance system market is currently witnessing a skyrocketing number of collaborations and partnerships amongst major companies, in order to expand their consumer base and geographical footprint and also enhance their product portfolio. For instance, in 2015, Valeo SA signed two agreements with Mobileye NV and Safran SA, with the aim of developing front-facing camera solutions and sensor-fusion-technology-based products, with the help of Mobileye’s EyeO computer vision algorithms and microprocessors, and increasing the development of driving aids for autonomous vehicles.

Due to the increasing urbanization rate, and rising demand for high-end vehicles, due to the surging disposable income of people, the installation of ADAS is expected to grow the quickest in the Asia-Pacific (APAC) region, in the near future. In addition to this, the moderate number of sales of passenger cars in developed countries and the surging demand are expected to further boost the demand for ADAS in this region in the coming years. 

Therefore, due to the increasing demand for high-end vehicles, rapid advancements in technology that are powering the development of connected vehicles, which are equipped with numerous safety features, and rising implementation of vehicular safety laws and regulations by governments across the world, the demand for ADAS is forecast to surge in the coming years.

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