Automotive Adaptive Cruise Control Market Information Report by Technology (Lidar, Radar, Laser and Ultrasonic), Vehicle Type (Passenger car and Commercial Vehicle), End use (OEM and Aftermarket), and region.

Automotive Adaptive Cruise Control Market Scenario

Automotive Adaptive Cruise Control Market is expected to be valued at USD 15,457.25 million by 2023 with a CAGR of 8.56% Forecast by 2022-2030

Adaptive cruise control is used to control the speed of the car and other vehicle technology. It maintains the speed of the car by either slowing down or speeding up the vehicle, automatically, to keep pace with other cars. Adaptive cruise control (ACC) is a trending technology for intelligent cars. It uses sensors that detect the distance between two cars, which improves driver safety and convenience. They also increase the road capacity by keeping safe distance between the two cars. ACC guides the drivers through the collision warning system installed on-board. It is also attached with pre-crash system and alerts the vehicle by automatically applying brakes.

The factors helping the growth of automotive adaptive cruise control market are advancement in technology, increase in sale of passenger cars in emerging countries, and growing need for passenger safety. Advancements in technology, have driven the passengers to install adaptive cruise control in their vehicle for improved safety. The demand for better passenger safety, have led to growing use of adaptive cruise control in their vehicle. The increased use of ACC have led to growth of the market during the forecast period. The increase in the sale of passenger cars in the emerging nations, have led to the increased use of adaptive cruise control in vehicles. This has also led to the growth of the market. The rising number of accidents have led to increase in installation of adaptive cruise control in vehicles. All the above factors have led to the growth of the market during the forecast period. 

The automotive adaptive cruise control market is segmented based on technology, vehicle type, end use, and region. On the basis of technology, radar segment is expected to dominate the adaptive cruise control market during the forecast period because it automatically detects the control of the vehicle. The radar sensors detects the distance between the two cars, which results in the increased safety of the passenger. This increased concern regarding passenger safety, has led to the growth of this market. On the basis of vehicle type, the market is segmented as passenger cars and commercial vehicles. The passenger car segment is expected to dominate the market during the forecast period due to the increase in sale of passenger cars in emerging nations such as India, China, and Japan.

Automotive Adaptive Cruise Control Market, By Segmentation

On the basis of region, the market is segmented as North America, Asia Pacific, Europe, and Rest of the World. North America is expected to dominate the adaptive cruise control market during the forecast period due to the increase in vehicle production and stringent government regulations for the safety. The National Highway Traffic Safety Administration have set up various regulations for the passenger safety in cars. Due to the increase in the stringent government regulations, people have adopted adaptive cruise control. This increase in the use of adaptive cruise control is expected to lead to the growth of this region during the forecast period. Europe is expected to be the second largest market that is expected to grow during the forecast period. Asia Pacific is expected to grow with highest CAGR during the forecast period.

Key Players

The key players in automotive adaptive cruise control market are Autoliv Inc. (Sweden), Continental AG (Germany), Denso Corporation (Japan), Delphi Automotive PLC (U.K.), Robert Bosch GmbH (Germany), Valeo SA (France), Hyundai Mobis (South Korea), ZF Friedrichshafen AG (Germany), Magna International Inc (Canada), and Mando Corporation (South Korea).

The report for Global Automotive Adaptive Cruise Control Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.