Market drivers include consumer demand, automaker innovation and focus on safety.
Boulder, Colo., January 24, 2023 /PRNewswire/ — A new report from Guidehouse Insights analyzes the Advanced Driver Assistance Systems (ADAS) market, based on a classification system developed by SAE International. It ranges from Level 0 (L0) to Level 5 (L5), which means no driver assistance or automated driving features, i.e. automated driving in all situations that requires no human involvement. .
ADAS market structure, ADAS equipment suppliers and vehicle manufacturers are currently driving their development most vigorously in Levels 1, 2, and 3 (L1-L3), which include driver support functions, partial automation , and reflect the inclusion of conditional automation. According to the report respectively, China It is expected to grow from an estimated 350 units in 2022 to 14.7 million units in 2031, at a compound annual growth rate (CAGR) of 226.3 percent, going forward. Europe (expected to reach 12.2 million units in 2031) or North America (expected to reach 10.8 million units in 2031).
“While L1 and L2 implementations are increasing rapidly, the big story in the ADAS market right now is L3, which represents the crossover from driver support to automated driving,” says Karen Marks, a research analyst with Guidehouse Insights. “Many vehicle manufacturers are implementing L1 and L2 while aggressively working to incorporate L3 technologies and securing contracts with suppliers to ensure the ability to deliver when Their operations should be ready for full production starting around 2026.”
The market for all three surfaces is driven by consumer demand, automaker innovation and the need for greater safety to prevent automobile accidents. While the overall market is expected to grow gradually, several factors are limiting this growth. According to the report, these include uncertainty about the economy and regulatory environment, a global shortage of chips, and pricing that is high enough to prevent some vehicle manufacturers from fully adopting advanced ADAS technology. Is.
Reports, Advanced Driver Assistance SystemPotential sales of light-duty vehicles (LDVs) with L1, L2 hands-on, L2 hands-free (also known as L2+), and L3 technologies are estimated from 2022 to 2031. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, Guidehouse’s dedicated market intelligence arm, provides research, data, and benchmarking services for today’s fast-changing and highly regulated industries. Our insights are based on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, primary end-user research, and demand assessment to provide a comprehensive view of emerging resilient infrastructure systems, coupled with an in-depth examination of technology trends. Is. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
About the Guide House
Guidehouse is a leading global provider of advisory services to the public sector and commercial markets, with extensive capabilities in management, technology, and risk consulting. By combining our public and private sector expertise, we help clients address their most complex challenges and navigate significant regulatory pressures that focus on transformational change, business agility, and technology-based innovation. . Across a range of consulting, consulting, outsourcing, and digital services, we develop scalable, innovative solutions that help our clients overcome complexity and position them for future growth and success. The company has more than 16,500 professionals in more than 55 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit www.guidehouse.com.
*Information contained in this press release regarding the report, Advanced Driver Assistance System, The guide is a summary and reflects House Insights’ current expectations based on market data and trend analysis. Market forecasts and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or report. Please view the full report for a full understanding of the assumptions underlying the report’s findings and the methodology used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes to update any information contained in this press release or report.
For more information contact:
Cecil Friedkin For Guide House Insights
To download multimedia, see original content: https://www.prnewswire.com/news-releases/guidehouse-insights-estimates-market-for-advanced-driver-assistance-systems-will-grow-at-a -compound-annual-226-in-2031-China-outpacing-Europe-or-North-America-301724925.html
Source Guide House Insights