MarkWide Research

444 Alaska Avenue

Suite #BAA205 Torrance, CA 90503 USA

+1 310-961-4489

24/7 Customer Support

All our reports can be tailored to meet our clients’ specific requirements, including segments, key players and major regions,etc.

Global Adaptive Cruise Control market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2024-2032

Published Date: April, 2024
Base Year: 2023
Delivery Format: PDF+ Excel
Historical Year: 2017-2023
No of Pages: 263
Forecast Year: 2024-2032
Category

Corporate User License

$3,450.00

The global adaptive cruise control (ACC) market has been experiencing significant growth in recent years. ACC is an advanced driver assistance system (ADAS) that uses sensors and radar technology to maintain a safe distance from the vehicle ahead and automatically adjusts the vehicle’s speed. It has gained popularity due to its ability to enhance driving comfort, reduce accidents, and improve fuel efficiency.

Adaptive cruise control, also known as intelligent cruise control or radar cruise control, is a system designed to automatically adjust the speed of a vehicle in response to the traffic conditions ahead. It uses sensors, such as radar or lidar, to detect the distance and speed of the vehicle ahead and maintains a safe following distance. This technology enables drivers to cruise on highways or in heavy traffic without constantly braking and accelerating.

Executive Summary

The global adaptive cruise control market is witnessing robust growth due to the increasing demand for advanced driver assistance systems and the growing focus on improving road safety. The market is driven by technological advancements, rising consumer awareness, and government regulations mandating the adoption of safety features in vehicles.

Global Adaptive Cruise Control market

Key Market Insights

  1. Growing demand for enhanced driving comfort and convenience is propelling the adoption of adaptive cruise control systems.
  2. The increasing number of accidents and the need to reduce collision risks are driving the market growth.
  3. Stringent government regulations and safety standards are compelling automakers to incorporate advanced driver assistance systems in vehicles.
  4. The rising popularity of electric and autonomous vehicles is expected to fuel the demand for adaptive cruise control systems.

Market Drivers

  1. Increasing emphasis on road safety and the need to reduce accidents.
  2. Growing demand for advanced driver assistance systems.
  3. Technological advancements in sensor technologies and communication systems.
  4. Rising consumer awareness and preference for enhanced driving comfort.

Market Restraints

  1. High cost associated with advanced ADAS technologies.
  2. Lack of standardization in regulations across different regions.
  3. Limited availability of skilled technicians for installation and maintenance of ACC systems.

Market Opportunities

  1. Emerging markets present significant growth opportunities due to the increasing adoption of ADAS technologies.
  2. Collaborations between automakers and technology companies to develop innovative ACC systems.
  3. Integration of artificial intelligence and machine learning in adaptive cruise control technology.

Market Dynamics

The global adaptive cruise control market is characterized by intense competition and continuous technological advancements. Key market players are focusing on research and development activities to enhance the performance and reliability of ACC systems. Additionally, partnerships and collaborations with technology providers are enabling companies to expand their product portfolios and reach a wider customer base.

Regional Analysis

The global adaptive cruise control market is segmented into several regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to dominate the market due to the presence of established automotive manufacturers and the early adoption of advanced technologies. Asia Pacific is projected to witness significant growth, driven by the increasing demand for luxury vehicles and the rapid expansion of the automotive industry.

Competitive Landscape

The global adaptive cruise control market is highly competitive, with several key players competing for market share. Some of the major companies operating in the market include Bosch GmbH, Continental AG, Delphi Technologies, Denso Corporation, Robert Bosch GmbH, and Valeo SA. These companies are focusing on product development, partnerships, and mergers and acquisitions to strengthen their market presence.

Segmentation

The global adaptive cruise control market can be segmented based on vehicle type, technology, and region. By vehicle type, the market can be categorized into passenger vehicles and commercial vehicles. Based on technology, the market can be divided into radar-based ACC and lidar-based ACC.

Category-wise Insights

  1. Passenger Vehicles:
    • The passenger vehicle segment is expected to dominate the market, capturing the largest market share. This can be attributed to the increasing consumer demand for safety features and the growing adoption of advanced driver assistance systems in passenger cars.
  1. Commercial Vehicles:
    • The commercial vehicle segment is also witnessing significant growth in the adaptive cruise control market. The rising focus on fleet management and the need to improve driver safety in commercial vehicles are driving the demand for ACC systems in this segment.

Key Benefits for Industry Participants and Stakeholders

  1. Automakers:
    • The integration of adaptive cruise control systems in vehicles can enhance the brand value and competitiveness of automakers. It enables them to offer advanced safety features, thereby attracting more customers.
    • ACC systems contribute to improving fuel efficiency by optimizing speed control and reducing unnecessary acceleration and deceleration.
  2. Drivers:
    • Adaptive cruise control systems provide drivers with increased comfort and convenience during long drives or in heavy traffic conditions. It reduces driver fatigue and stress by automatically maintaining a safe distance from the vehicle ahead.
    • ACC systems help prevent accidents and collisions by alerting drivers and automatically applying brakes when necessary.
  3. Fleet Operators:
    • The adoption of adaptive cruise control in commercial vehicles can significantly improve fleet management and safety. ACC systems assist in maintaining a consistent speed, reducing the risk of accidents and minimizing fuel consumption.
  4. Insurance Companies:
    • The implementation of ACC systems in vehicles can lead to a decrease in accidents and lower insurance claims. This benefits insurance companies by reducing payouts and improving overall profitability.

SWOT Analysis

  1. Strengths:
    • ACC systems enhance driving comfort, convenience, and safety.
    • Technological advancements in sensors and communication systems improve system accuracy.
    • Growing consumer awareness and demand for advanced driver assistance systems.
  2. Weaknesses:
    • High cost associated with the installation and maintenance of ACC systems.
    • Lack of standardization in regulations across different regions.
  3. Opportunities:
    • Emerging markets offer growth opportunities due to increasing vehicle sales and adoption of ADAS technologies.
    • Integration of artificial intelligence and machine learning in ACC systems.
  4. Threats:
    • Intense competition among key market players.
    • Potential cybersecurity risks associated with connected vehicles.

Market Key Trends

  1. Integration of ACC with other ADAS technologies, such as lane-keeping assist and automatic emergency braking.
  2. Development of advanced sensor technologies for improved detection and response capabilities.
  3. Increasing focus on vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication for enhanced safety.

Covid-19 Impact

The global adaptive cruise control market was not immune to the effects of the COVID-19 pandemic. The automotive industry faced disruptions in production and supply chain operations, leading to a temporary decline in market growth. However, the demand for safety features and advanced driver assistance systems has remained resilient, driving the recovery of the market post-pandemic. The pandemic has also accelerated the adoption of contactless technologies and autonomous driving, which are expected to positively impact the ACC market in the long run.

Key Industry Developments

  1. Major automotive manufacturers have been introducing advanced ACC systems in their vehicles to meet customer demands for enhanced safety and convenience.
  2. Technology companies are investing in research and development to improve the accuracy and performance of ACC systems.
  3. Partnerships and collaborations between automakers, technology providers, and research institutions are driving innovation in the adaptive cruise control market.

Analyst Suggestions

  1. Focus on cost reduction and scalability to make ACC systems more affordable and accessible to a wider consumer base.
  2. Enhance cybersecurity measures to address potential threats associated with connected vehicles and ensure data privacy.
  3. Collaborate with regulatory bodies to establish standardized regulations and safety standards for ACC systems across different regions.

Future Outlook

The global adaptive cruise control market is expected to witness steady growth in the coming years. Factors such as increasing vehicle sales, rising consumer awareness about road safety, and the growing demand for advanced driver assistance systems are driving market expansion. The integration of adaptive cruise control systems in vehicles is becoming increasingly common, and it is expected to be a standard feature in many new vehicles. Technological advancements, such as improved sensor technologies and communication systems, will further enhance the accuracy and performance of ACC systems.

The market is also expected to benefit from the increasing adoption of electric and autonomous vehicles. As these vehicles become more prevalent on the roads, the demand for ACC systems will rise, as they are crucial for maintaining safety and efficiency in these advanced vehicle models.

Conclusion
The global adaptive cruise control (ACC) market is experiencing significant growth due to increasing demand for advanced driver assistance systems, growing focus on road safety, and technological advancements in sensor technologies. ACC systems provide enhanced driving comfort, convenience, and safety by automatically adjusting the vehicle’s speed and maintaining a safe distance from the vehicle ahead.

Global Adaptive Cruise Control Market:

Segmentation Details
Technology Lidar, Radar, Camera
Vehicle Type Passenger Cars, Commercial Vehicles
Region North America, Europe, Asia Pacific, Middle East & Africa, Latin America

Leading companies in the Global Adaptive Cruise Control market:

  1. Robert Bosch GmbH
  2. Continental AG
  3. Denso Corporation
  4. Valeo SA
  5. ZF Friedrichshafen AG
  6. Delphi Technologies
  7. Hyundai Mobis Co., Ltd.
  8. Autoliv Inc.
  9. Magna International Inc.
  10. Mando Corporation

North America
o US
o Canada
o Mexico

Europe
o Germany
o Italy
o France
o UK
o Spain
o Denmark
o Sweden
o Austria
o Belgium
o Finland
o Turkey
o Poland
o Russia
o Greece
o Switzerland
o Netherlands
o Norway
o Portugal
o Rest of Europe

Asia Pacific
o China
o Japan
o India
o South Korea
o Indonesia
o Malaysia
o Kazakhstan
o Taiwan
o Vietnam
o Thailand
o Philippines
o Singapore
o Australia
o New Zealand
o Rest of Asia Pacific

South America
o Brazil
o Argentina
o Colombia
o Chile
o Peru
o Rest of South America

The Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Israel
o Kuwait
o Oman
o North Africa
o West Africa
o Rest of MEA

Important Questions Covered in this Study

Why Choose MWR ?

Quality Research

Our goal is to provide high-quality data that stimulates growth and creates a win-win situations.

Unlimited User Access

We offer Corporate User license access on all our reports in which you can share the report with your entire team without any restrictions.

Free Company Inclusion

We give you an option to include 3-4 additional company players of your choice in our report without any extra charges.

Post Sale Assistance

Unlimited post sales service with an account manager dedicated to making sure that all your needs are met.

Covid-19 Impact Analysis

All our research report includes latest Covid-19 Impact and its analysis.

Client Associated with us

GET A FREE SAMPLE REPORT

This free sample study provides a complete overview of the report, including executive summary, market segments, competitive analysis, country level analysis and more.

Client Testimonials

GET A FREE SAMPLE REPORT

This free sample study provides a complete overview of the report, including executive summary, market segments, competitive analysis, country level analysis and more.

error: Content is protected !!
Scroll to Top

444 Alaska Avenue

Suite #BAA205 Torrance, CA 90503 USA

+1 424 360 2221

24/7 Customer Support

Download Free Sample PDF
This website is safe and your personal information will be secured. Privacy Policy
Request for Discount
This website is safe and your personal information will be secured. Privacy Policy
Speak to Analyst
This website is safe and your personal information will be secured. Privacy Policy

Download Free Sample PDF