Opportunity: Level 3 ADAS include “conditionally automated” technologies, which still prioritize human driver control. Legal Considerations: Development of safety architecture and guidance are core components of ADAS systems development, including robust consumer-facing disclosures that explain that Level 2 ADAS technologies are not substitutes for relinquishing human control over the vehicle. It is expected that legacy automakers and mobility stakeholders will continue to invest in Level 2 ADAS adoption while they continue developing more advanced autonomous systems. Level 2 ADAS include features such as low-speed in-path object monitors, adaptive cruise control that can navigate regular traffic, heavy traffic jam pilots, and adaptive braking. Level 2 ADAS technologies require vehicles to be equipped with lidar systems that add materially to component costs, though some of the sensor and computing costs are decreasing. Level 2 ADAS include “partially automated” ADAS systems that combine automated functions, such as acceleration and steering, with the driver remaining fully engaged in the driving tasks at all times. Pursuant to SAE J3016, Driving Automation Systems for On-Road Motor Vehicles (more commonly known as the SAE Levels of Driving Automation), there are six levels of ADAS technologies, ranging from Level 0 (no driving automation) to Level 5 (full driving automation). Opportunity: Legacy automakers and mobility stakeholders will be introducing several new Level 2 and 3 ADAS technologies, which are designed to improve occupant safety and reduce accidents, in passenger vehicles, but the driver must remain ready to override the system and maintain control of the vehicle. Below we detail the trends and developments that have brought us to this point and the issues and opportunities they present to auto industry stakeholders. In light of these trends, we anticipate that additional Level 2 and 3 ADAS technologies will continue to be introduced in passenger vehicles at an increasing level over the next five years, while Level 4 ADAS technology capabilities are more likely to be a focus for commercial trucks. These smaller, more targeted investments are indicative that ADAS systems are maturing, and more legacy automakers are focused on bringing ADAS technology, but not fully autonomous vehicle technologies, to market based on consumer demand. In 2022, those investments dropped by almost 60% to $4.1 billion. In 2021, investors poured a record $9.7 billion into the development of ADAS technologies. As legacy automakers undergo extensive restructuring to allow for the mass production of electric vehicles (EVs), ADAS technologies has become more focused on systems that can generate value for manufacturers in the next five years. The ADAS technology investment strategy has shifted and appears likely to continue to do so.
By 2035, market analysists project that ADAS technologies could yield $300 billion to $400 billion in revenue for legacy automakers and systems manufacturers.ĭespite certain setbacks that have delayed the broad implementation of autonomous vehicles, leading mobility stakeholders remain committed to ADAS technology development and its potential to transform the future of transportation, from reducing the number of on-road accidents to increasing transportation logistics and supply chain efficiencies.
The prospect of autonomous vehicles whisking passengers and goods to their final destinations has dazzled the public’s imagination and driven billions of dollars in investment into the development of advanced driver-assistance systems (ADAS) over the last decade.
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