What Exactly are Connected Cars?

In layman terms, cars that you can connect to the internet via a wireless local area network are known as connected cars to make your life simpler. For example, you can remotely control some applications through a mobile phone and can communicate with other products. Moreover, they enable you to have real-time information and link your car with alert emergency services and dealerships in case of accidents.

What Are the Advantages of Connected Cars?

A connected car contains a range of innovative and appropriate specifications providing a range of advantages.

• Provides accessibility to a range of infotainment facilities

• Helps navigation system through third-party applications

• Comprises up-to-date safety features to guarantee the finest road safety

• Enhanced security features keep track of the car even when you are not driving it

• Enables remote accessibility to a variety of functions

Working on Connected Cars

Automobile engineering businesses employ 2 systems in connected cars -

• Embedded connected vehicle technology is armed with an incorporated antenna and a chipset.

• Tethered system is armed with hardware that aids in connecting the driver’s mobile phone with his/her vehicle.

Additionally, a connected car can convey data, connect with other devices and provide Wi-Fi connection to the passengers and driver. Connected technology also can access telematics and is recognized to be suggestively beneficial for EVs.

V2V Communication

Coupled with vehicle-to-vehicle connectivity supports connected vehicles to communicate with one another. This shares vital information, such as speed limits traffic movement, road conditions, and other details.

Environmental-Friendly 

Till today, a huge number of cars function on fuel, growing carbon emissions significantly. In this respect, a connected automobile is an improved alternative. It offers real-time information on people commuting your way waiting for a ride. Thus, you can give them a ride to bring down the carbon emission rate.

Services

Specialists forecast that connected cars will further provide a unified experience. Service stations will remotely inspect your car. The car will notify you regarding nearby parking spaces. Furthermore, enhanced driver support systems will lessen the burdens of driving, and your motor will give you information regarding hotels or restaurants between your route. Also, an electric-connected car notifies about the nearest charging points.

Hence, as the purchasing power of people is increasing globally, the sales of cars are also propelling, which indeed will grow the connected car industry in the future.   

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Advanced Driver Assistance Systems Market Will Reach USD 72.2 Billion by 2030

In 2021, the advanced driver assistance systems market was worth around USD 25.84 billion, and it is projected to advance at a 12.1% CAGR from 2021 to 2030, hitting USD 72.2 billion by 2030, according to P&S Intelligence. 

This can be credited to the growing acceptance of autonomous cars, the developing automotive industry, the increasing research and development activities mainly in emerging countries, and the increasing population globally.

Additionally, the spike in the acceptance of protection features in passenger cars, the growth in technical inventions, and governments’ extensive aid in terms of rule execution and financial reimbursements are supporting the growth of the market.

In 2021, the radar sensor category had the largest market share and is also projected to be dominant in the future as well, progressing at a CAGR of above 12%. This can be credited to its numerous aids, including the ability to recognize an object's exact location, find its velocity, calculate its distance, differentiate between stationary and mobile aims, concentrate on several targets at once, gather a lot of information, and gain data at multiple scales.

The development in technologies has been snowballing the count of connected cars. These cars are safer than standard passenger cars, as numerous systems encouraging vehicle protection are integrated within the connected cars. The industry has extended as a result of the rising customer knowledge regarding the protection and comfort of passenger vehicles with ADAS integration.

The U.S. generated the majority of revenue for the regional industry. The wide number of premium car operators, increasing count of road accidents, high research and development expenditure on autonomous vehicles, and government orders for systems including TPMS for all lightweight vehicles are the key reasons accountable for the market growth in the nation.

Hence, the growing acceptance of autonomous cars, the developing automotive industry, the increasing research and development activities mainly in emerging countries, and the increasing population globally, are the major factors propelling the advanced driver assistance systems market. 

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What are Key Factors Fuelling the Surge of Indian Advanced Driver Assistance Systems 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 size is predicted to witness rapid growth during the forecast period (2020–2030).

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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.

Read more: https://www.psmarketresearch.com/market-analysis/india-adas-market

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