Adaptive Cruise Control Market Technology, Demand, Future Growth, Applications, Types, Analysis, Outlook and Forecast 2027

Market Size – USD 14.86 billion in 2019, Market Growth – CAGR of 20.8%, Market Trends – The rise in adoption of autonomous vehicle.

The Global The adaptive cruise control market is expected to accumulate nearly $62.36 billion by 2027 at a CAGR of 20.8%, according to the latest study from Emergen Research. The growth of this market is driven by increasing sales of luxury automobiles, increasing demand for advanced automotive electronics, growing need for automotive fuel efficiency, and increasing government efforts to promote the adoption of electric vehicles. .

Rising rate of road accidents and increasing government initiatives for the implementation of autonomous vehicles are driving the market demand.

The increasing rate of road accidents around the world due to increased traffic and lack of safety measures, integration of collision avoidance and advanced braking systems in today’s automobiles Today, stringent government regulations regarding road and passenger safety, and growing focus of manufacturers on introducing advanced automotive safety features that comply with regulatory standards are other key parameters contributing to the growth of the market. world of adaptive cruise control. For example, President Moon Jae-in of South Korea announced a plan to commercialize fully autonomous vehicles by 2027 and become the first country in the world to have fully autonomous cars on South Korean roads.

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Adaptive Cruise Control (AAC), also known as Autonomous Cruise Control, is an advanced driver assistance system equipped with laser sensors and cameras that allow the vehicle to detect other vehicles ahead and adjust automatically its speed to avoid collisions. It is a safety device that effectively controls the braking and acceleration of a vehicle. ACC technology is considered a smart feature for cars of future generations. It has proven effective in maintaining a safe distance between road vehicles and reducing the risk of accidents.

Therefore, adaptive cruise control has improved driver safety and comfort, improving the overall driving experience. Some of the major car brands offering this feature include BMW 3 Series, Toyota Corolla Hatchback, Nissan Altima, and Hyundai Sonata. Expanding transportation and logistics industry, growing adoption of technologically advanced cruise control systems, and soaring consumer disposable incomes are further driving the demand for adaptive cruise control. However, sensor failures caused by extreme weather conditions such as heavy fog and thunderstorms and increasing cost of advanced automotive features are some factors expected to hinder the growth of the global adaptive cruise control market over the estimated period. .

Main highlights of the report:

The global adaptive cruise control market is segmented into assistance systems, predictive systems, and type-based multi-sensor systems. The assistance systems segment is expected to lead the global market over the forecast period in terms of revenue, posting a robust CAGR of 21.1%. Highly effective features of assistance systems, such as lane centering, proximity alerts and brake assist, have fueled their demand worldwide.

The global market is broadly segmented into commercial vehicles and passenger cars based on vehicle type. The passenger car sub-segment is predicted to be the most dominant segment over the forecast years, with a CAGR of 21.2%. Rising demand for fuel-efficient premium passenger cars and their booming sales are driving the growth of this segment.

Among the key regions in the market, Europe is poised to dominate the global adaptive cruise control market in the coming years, owing to the growing production of automobiles in the region and the presence of renowned automobile manufacturers , such as Continental AG, Robert Bosch GmbH, Valeo SA and ZF Friedrichshafen.

The main players in the sector are Robert Bosch GmbH, ZF Friedrichshafen AG, DENSO Corporation, Continental AG, Valeo SA, Autoliv Inc., Mando Corporation, Delphi Automotive LLP, Velodyne Lidar, Inc., Magna International Inc., Hyundai Mobis Co. Ltd. and Delphi Automotive PLC.

In September 2020, MG Motor announced the upcoming launch of its new Gloster luxury SUV in India. The new MG Gloster features an adaptive cruise control system that automatically controls the car’s speed without driver intervention. Lane Departure Warning (LDW), Forward Collision Warning (FCW), Automatic Parking Assist (APA) and Blind Spot Monitor (BSM) are the other important features of the new vehicle.

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For the purposes of this report, the global adaptive cruise control market has been segmented on the basis of type, vehicle, technology and region:

Type Outlook (Revenue, USD billion; 2017-2027)

Support Systems Systems

Predictive Systems

multi-sensors

Vehicle Outlook (Revenue, USD Billion; 2017-2027)

commercial vehicles

passenger cars

Technology Outlook

LiDAR

Radar

Picture

Ultrasonic

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By Region (Revenue: USD Billion; 2017-2027)

North America

United

Canada

Europe

Germany

United

France

BENELUX

Rest of Europe

Asia Pacific

China

Japan

South Korea

Rest of Asia-Pacific

Latin America

Brazil

Rest of Latin America

Middle East and Africa

Saudi Arabia

United Arab Emirates

Rest of the Middle East and Africa

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