2023-01-24 10:15:00

Guidehouse Insights Estimates Market for Advanced Driver Assistance Systems Will Grow at a Compound Annual Growth...

Logo PR Newswire
PR Newswire

Market drivers include consumer demand, vehicle manufacturer innovation, and focus on safety

BOULDER, Colo., Jan. 24, 2023 /PRNewswire/ -- A new report from Guidehouse Insights analyzes the market for advanced driver assistance systems (ADAS), which is based on a classification system developed by SAE International. It ranges from Level 0 (L0), meaning no driver support or automated driving features, to Level 5 (L5), meaning automated driving in all conditions that requires no human involvement.

The structure of the ADAS market, ADAS equipment suppliers and vehicle manufacturers are currently advancing their development most vigorously in Levels 1, 2, and 3 (L1-L3), which reflect the inclusion of driver support functions, partial automation, and conditional automation, respectively. According to the report, China is expected to grow from an estimated 350 units in 2022 to an estimated 14.7 million units in 2031, at a compound annual growth rate (CAGR) of 226.3%, outpacing 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 growing most quickly, the big story in the ADAS market right now is L3, which represents the crossover from driver support to automated driving," says Karen Marcus, a research analyst with Guidehouse Insights. "Many vehicle manufacturers are implementing L1 and L2 while working aggressively to incorporate L3 technologies and secure contracts with suppliers to ensure the ability to deliver when their operations become ready for inclusive production starting around 2026."

The market for all three levels is being driven by consumer demand, vehicle manufacturer innovation, and the need for greater safety to prevent automobile accidents. While the market as a whole is expected to rise steadily, several factors are limiting that growth. They include uncertainty about the economy and the regulatory environment, the global chip shortage, and pricing that is high enough to keep some vehicle manufacturers from fully embracing higher level ADAS technology, according to the report.

The report, Advanced Driver Assistance Systems, evaluates the potential sales of L1, L2 hands-on, L2 hands-free (also known as L2+), and L3 technologies across light duty vehicles (LDVs) from 2022 to 2031. Breakdowns by global region and specific L1 technologies are included. An executive summary of the report is available for free download on the Guidehouse Insights website.

About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today's rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.

About Guidehouse
Guidehouse is a leading global provider of consulting services to the public sector and commercial markets, with broad 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 focusing on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that help our clients outwit complexity and position them for future growth and success. The company has over 16,500 professionals in over 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.

* The information contained in this press release concerning the report, Advanced Driver Assistance Systems, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.

For more information, contact:
Cecile Fradkin for Guidehouse Insights
+1.646.941.9139
cfradkin@scprgroup.com

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/guidehouse-insights-estimates-market-for-advanced-driver-assistance-systems-will-grow-at-a-compound-annual-growth-rate-of-226-in-2031-in-china-outpacing-europe-or-north-america-301724925.html

SOURCE Guidehouse Insights

Logo Benzinga
Business / FinanceBy Pr Newswire2023-01-24 10:15:00
Market drivers include consumer demand, vehicle manufacturer innovation, and focus on safety BOULDER, Colo., Jan. 24, 2023 /PRNewswire/ -- A new report from...

Logo PR Newswire
NEW YORK, Jan. 23, 2023 /PRNewswire/ -- According to Technavio, the global automotive ADAS aftermarket market size is estimated to grow by USD 3.15 billion...

Logo PR Newswire
TechnologyPress Release2023-01-23 18:10:00
DUBLIN, Jan. 23, 2023 /PRNewswire/ -- The "Global Automotive Cybersecurity Market Size, Share & Industry Trends Analysis Report by Application, Security...

Logo EIN Presswire
AutoPress Release2023-01-23 12:45:00
Company Logo Auto dealers will learn how PDS can help maximize their potential by turning mishandled opportunities into opportunities for growth What a...

Logo PR Newswire
AutoPress Release2023-01-24 10:00:00
NEW YORK, Jan. 24, 2023 /PRNewswire/ -- According to Technavio, the global automotive aftermarket market size is estimated to grow by USD 164.58 billion from...

Logo EIN Presswire
AutoPress Release2023-01-23 10:59:22
Research Nester Global car security system market is expected to reach an estimated value of ~USD 12000 million by 2033 by expanding at a CAGR of ~5%. NEW...

Logo EIN Presswire
Growing manufacturing industry in South American economies is projected to boost the factory automation market growth NEW YORK, UNITED STATES, January 23,...

Logo PR Newswire
AutoPress Release2023-01-23 14:30:00
NEW YORK, Jan. 23, 2023 /PRNewswire/ -- According to Technavio, the automotive camera market size in China is estimated to grow by 2567.82 thousand units...

Logo GlobeNewswire
EconomyPress Release2023-01-23 12:17:00
Severe government norms and regulations towards vehicle emission, and surge in fuel prices drive the growth of the global hybrid EV conversion kit market....

Logo PR Newswire
AutoPress Release2023-01-24 02:45:00
NEW YORK, Jan. 23, 2023 /PRNewswire/ -- According to Technavio, the global car care products market size is estimated to grow by USD 3585.56 million from...

Logo PR Newswire
AutoPress Release2023-01-23 13:30:00
NEW YORK, Jan. 23, 2023 /PRNewswire/ -- According to Technavio, the global automotive off-road lighting market size is estimated to grow by USD 4.39 billion...

Logo EIN Presswire
AutoPress Release2023-01-23 12:09:29
Automotive Drive Shaft Market CALIFORNIA, UNITED STATES, January 23, 2023 / EINPresswire.com / -- The Coherent Market Insights added a comprehensive research...

Logo PR Newswire
DUBLIN, Jan. 23, 2023 /PRNewswire/ -- The "Armored Vehicles Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players,...

Logo EIN Presswire
HealthPress Release2023-01-23 12:01:59
Emergen Research Logo According to Emergen Research the Clinical Decision Support System Market is expected to grow USD 10.74 billion by 2030 Clinical...

Logo PR Newswire
HealthPress Release2023-01-24 08:57:00
Increase in prevalence of spinal cord injury and musculoskeletal disorders and increasing geriatric population suffering from orthopedic disorder drives the...

Logo PR Newswire
TechnologyPress Release2023-01-23 12:46:00
Ability of AI-based technology to enable machines to automate complex tasks such as driving cars, holding conversations, and other things, growing demand for...

Logo PR Newswire
AutoPress Release2023-01-24 02:30:00
NEW YORK, Jan. 23, 2023 /PRNewswire/ -- According to Technavio, the global automotive brake components aftermarket market size is estimated to grow by USD...

Logo PR Newswire
TechnologyPress Release2023-01-23 18:20:00
DUBLIN, Jan. 23, 2023 /PRNewswire/ -- The "Global AI In Retail Market Size, Share & Industry Trends Analysis Report by Technology, Sales Channel,...

Logo PR Newswire
HealthPress Release2023-01-23 10:40:00
DUBLIN, Jan. 23, 2023 /PRNewswire/ -- The "Global Surgical Robot Market (By Type & Region): Insights & Forecast with Potential Impact of COVID-19...

Logo PR Newswire
TechnologyPress Release2023-01-23 15:40:00
DUBLIN, Jan. 23, 2023 /PRNewswire/ -- The "Artificial Intelligence Market by Component, Deployment, Application, and End-User Industry: Global Opportunity...