Consumer demand, vehicle innovation, focus on safety drive ADAS market growth in China, Europe, North America.
The market for advanced driver assistance systems (ADAS) is being driven by consumer demand, vehicle manufacturer innovation, and the need for greater safety to prevent automobile accidents. According to a report from Guidehouse Insights, China is expected to have the highest growth rate of 226.3% from 2022 to 2031, while Europe and North America are expected to reach 12.2 million and 10.8 million units respectively. The report 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.
The ADAS market is divided into Levels 0 to 5, with Level 0 meaning no driver support or automated driving features and Level 5 meaning automated driving in all conditions that requires no human involvement. Levels 1, 2, and 3 (L1-L3) are being developed most vigorously, with L1 and L2 representing the inclusion of driver support functions and partial automation, and L3 reflecting the crossover from driver support to automated driving.
Several factors are limiting the growth of the ADAS market, including 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. To overcome these challenges, vehicle manufacturers are 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.
The report from Guidehouse Insights provides an in-depth analysis of the potential sales of advanced driver assistance systems across the globe. It also includes breakdowns by global region and specific L1 technologies. The report provides insights into the market drivers and limitations, as well as the strategies employed by vehicle manufacturers and suppliers to ensure the successful implementation of these technologies.
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