The Recent Developments of India ADAS Market 2022-2028
The latest report on the India ADAS market by Grand View Research, Inc. forecasts that the market will grow from XXXX million in 2018 to XXXX million by 2028. This growth is due to increasing awareness about the need for autonomous vehicle technologies and increasing investment in this sector.
The market division of the report covers automotive suspension, braking, navigation, and driver assist systems (ADAS). The automotive suspension segment is expected to account for the highest share of the market in 2018 with a revenue of $1,367 million. However, the braking segment is expected to grow at a higher rate than other segments during the forecast period and be worth XXXX million by 2028. This growth is attributable to increased demand from Tier 1 OEMs for advanced safety features in their vehicles.
The most important factor contributing to the growth of the ADAS market in India is Increasing investments in this sector by both private and public organizations. These investments are resulting in an increase in R&D activities across various companies involved in this business.
Some of the major players operating in India’s ADAS market are Bosch Ltd., Continental AG (Schaeffler Group), Denso Corporation Ltd., Ferrari S.pA., General Motors Co., Ltd., Honda Motor Co., Ltd., Hyundai Motor Co., Ltd., KUKA Corporation Limited., Mahindra & Mahindra Limited*, Mitsubishi Electric Corporation (MEC), Nissan Motor Co.
The Recent Developments of India ADAS Market 2022-2028
The automotive industry is one of the most important and fast-growing industries in the world. In 2020, the global automotive industry is estimated to be worth XXXX trillion, and it’s forecast to grow at a CAGR of XXX through 2028. This growth is primarily attributable to increased sales of SUVs and pickup trucks, as well as heightened consumer interest in autonomous vehicles (ADAS). Now that we know just how big the automotive industry is, let’s take a closer look at the ADAS market in India. In this blog post, we will explore key market trends, identify major players in the market, and make some predictions for the future.
The Recent Developments of India ADAS Market 2022-2028
According to a report by 6wresearch, the Advanced Driver Assistance Systems (ADAS) market in India is expected to grow at a CAGR of xx% during the forecast period 2022-2028. The report attributes this growth to factors such as increasing demand for safety and increased application areas for ADAS technology. The other key drivers for the growth of the Indian ADAS market include the growing adoption of advanced safety features in vehicles and rising demand from industrial sectors.
The India advanced driving assistance systems market is dominated by players such as Denso Corporation, Continental AG, Bosch SE, and Continental Automotive Group. These companies are focusing on developing innovative ADAS technologies that can be deployed in various applications such as autonomous driving, smart city functions, and traffic assistance. Some of these companies are also focusing on expanding their presence into new geographies such as North America and Europe.
India ADAS Market 2022-2028 Overviews
The automotive industry is a large and rapidly growing sector in India. The market for automotive technology and services has been expanding exponentially over the past few years, driven by efficient transportation systems, increasing urbanization, and rising demand for safe and sustainable mobility. This growth is expected to continue during the forecast period.
In terms of revenue, the automotive industry is estimated to be worth US$27 billion by 2027, representing a CAGR of 5.2% during the forecast period. In terms of market size, the Indian automotive technology and service market is currently larger than that of any other country in Asia Pacific excluding China. The market is also projected to grow at a faster rate than global markets over the next few years.
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There are several factors that are conducive to the growth of this market in India. These include a rapidly expanding population, rising disposable income levels, increasing preference for safe and environmentally friendly modes of transportation among consumers, and increasing investments in infrastructure development across the country. In addition, government initiatives such as Make in India and Digital India are expected to increase awareness about new technologies among consumers and spur their adoption across various sectors.
Several major players operating in this market include Bosch Software Technologies (BST), Continental AG (CONAG), Delphi Automotive PLC (DPHI), Denso Corporation (6406), Eastman Kodak Company (Eastman Kodak Company) (EMNKN), Fujitsu Ltd.(FUJITSU LTD.), General
India ADAS Market Key Players
1. The Indian ADAS market is forecast to grow at a significant rate over the next few years, thanks to rising demand from the automotive and wireless technology sectors.
2. Some of the key players in the Indian ADAS market include Bosch, Continental AG, Denso Corporation, Continental Automotive Group (CAG), Ericsson AB, Honeywell International Inc., Infineon Technologies AG, ITRI Corporation, Mitsubishi Electric Corp., NVIDIA Corporation, Panasonic Corporation, PTC Inc., Qualcomm Inc., Samsung Electronics Co., Ltd. (SEOUL:005930KS), and Yamaha Motor Co., Ltd.
3. The growing popularity of driverless cars is expected to drive the demand for ADAS solutions in India over the next few years. This is because driverless cars require highly accurate sensors and mapping capabilities to operate safely.
4. The presence of major automotive companies such as Ford Motor Company (NYSE: F) and General Motors Company (NYSE: GM) in India is also expected to boost the growth of the Indian ADAS market. These companies are urgently seeking solutions that can help them improve the safety performance of their vehicles.
India ADAS Market Growth (2022-2028)
- The recent developments in the Indian ADAS market are likely to impact the overall growth of the market in the medium to long term. The following factors are likely to contribute to this growth:
- Increasing investments in the development and deployment of ADAS systems across various segments of the transportation industry
- Growing demand from leading OEMs for advanced safety and security features in their vehicles
- Expanding affordability of ADAS technologies across different segments
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