Guidehouse Insights Estimates Market for Sensors in Automotive Industry Will Grow to Nearly 3.5 Billion by 2035

The computing power of the average vehicle is set to grow alongside higher levels of automation

BOULDER, Colo., Aug. 29, 2023 /PRNewswire/ -- A new report from Guidehouse Insights analyzes the global market for sensors and computing platforms in automated vehicles.

Globally, automated vehicles are already being deployed in some markets, focusing currently on urban robotaxis and highway driving. The light duty vehicle (LDV) market has all the pieces needed for an expansion of next-generation advanced driver assist systems (ADAS) and automated driving systems (ADS) over the coming years. According to a new report from Guidehouse Insights, more than 90% of all LDVs sold will have some level of hands-off driving capabilities — with more than 3.4 billion sensors annually in the automotive market by 2035, growing from 897.9 million in 2023, a compound annual growth rate (CAGR) of 11.7%.

"The market for the sensors and computing platforms that are the necessary enabling technology for this higher level of automation is set to expand greatly," says Jake Foose, research analyst with Guidehouse Insights. "Most ADAS systems being deployed by vehicle original equipment manufacturers are advancing to the degree that their automation will be a marketable safety feature soon. Within the next 10 years, the move to higher levels of automation will be well underway."

Established sensor markets, like automotive camera and radar, will likely experience major growth. Less established sensors, such as lidar and thermal imaging, will become standard on many cars sold. The computing power of the average vehicle is set to grow with the higher levels of automation, according to the report.

The report, Sensors and Compute Platforms in Automated Vehicles, establishes new definitions of automated vehicles that are more consumer-oriented. The report provides an analysis of barriers and drivers to the automation market, and how those specifically impact the sensors and computing market. It supplies global outlooks for the deployment of each level of automation, each automation sensor, and the various levels of computing platforms required to handle and process the data effectively. Analyses cover the period 2023-2035 and are segmented by eight global regions and sub-regions. 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, Sensors and Compute Platforms in Automated Vehicles, 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
[email protected]

SOURCE Guidehouse Insights