What are the New Growth Avenues Propelling Advanced Driver Assistance Systems and Autonomous Driving?
Future growth potential enhanced by opportunities in assisted, piloted driving and automated vehicle parking features
Research Overview
The automotive industry is among the most affected by the COVID-19 pandemic and the ongoing semiconductor shortage. The resulting economic crisis impacted overall vehicle sales, leading to a delay in value chain components supply and technology introduction and a shift in consumer preferences.
Original equipment manufacturers (OEMs) and value chain partners are realigning their research and development budgets, product strategies, road maps, and launch timelines to adapt to the challenges. They reduced large investments in level (L) 4 autonomous development and rerouted investments to assisted and piloted driving to gain short-term returns.
In 2022, Frost & Sullivan expects many OEMs to offer L2+ hands-off driving systems in mass-market vehicles in the United States, Canada, Japan, China, and Korea, while Europe remains at L2 hands-on driving. We anticipate only a few premium OEMs to launch L3 piloted driving features in their flagship models due to the low value proposition.
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