Global adaptive cruise control market is projected to witness a CAGR of 10.39% during the forecast period 2024–2031, growing from USD 12.93 billion in 2023 to USD 28.51 billion in 2031. The market has experienced significant growth in recent years and is expected to maintain a strong pace of expansion in the coming years.
Adaptive cruise control system is a unique driver assistance system that helps to maintain a safe distance from another vehicle. The vehicle’s speed is automatically adjusted by the adaptive cruise control system to maintain a safe distance from approaching vehicles. The adaptive cruise control technology found in automobiles is called intelligent technology. LIDAR, laser, RADAR, ultrasonic, and image sensors are some technologies utilized in the automotive adaptive cruise control system.
Automotive adaptive cruise control technology is seeing an increase in demand due to increasing purchase for luxury vehicles and efficient passenger safety mechanisms. The automotive adaptive cruise control market will continue to benefit from lucrative growth opportunities due to ongoing technological advancements in advanced cruise control systems. In addition, rising population and personal disposable income will indirectly encourage market growth.
For instance, in 2023, Volkswagen has unveiled its compact SUV “T-Cross” which comes with adaptive cruise control technology.
Self-Driving Vehicle Adaptive Cruise Control System Adoption Boosting the Market Development
An automobile adaptive cruise control system is a crucial component of a driverless system that provides automatic braking and acceleration. Self-driving vehicles automatically adjust steering, braking, and throttle control in response to driver inputs. Set algorithms in auto adaptive cruise control systems use RADAR, LIDAR, and image sensors to control self-driving vehicles. As a result, the dynamics of the automotive adaptive cruise control market are being influenced by the growing use of self-driving vehicle adaptive cruise control systems.
For instance, in 2023, Ford launched its BlueCruise technology, which is adaptive cruise control, for its Mustang Mach-E models.
Automotive Adaptive Cruise Control Industry Growth Boosted by Stringent Road Safety Regulations
Due to the rise in traffic, road safety is one of the most pressing issues worldwide. Adaptive cruise control systems are in high demand because of increased traffic accidents caused by speeding and other violations of traffic laws. The vehicle’s adaptive cruise control aids in adjusting the speed to the conditions of the road. Governments have enacted stringent regulations regarding speed limits and overtaking to prevent automobile collisions on highways. As a result, the growth of automotive adaptive cruise control market is being aided by the implementation of stringent regulations for road safety.
For instance, in January 2020, Luminar introduced perception engineering, which is advanced LiDAR technology for autos, to improve vehicle safety. It has a range of up to 250 meters for detecting and classifying things in real time.
Automation and Sensor Technology Advancements
The accuracy and dependability of ACC systems have been significantly enhanced by advancements in radar, LiDAR (Light Detection and Ranging), and camera technologies. The system can detect and respond to the movement of vehicles ahead because these sensors provide real-time data about the vehicle’s surroundings. For instance, in January 2020, at the Consumer Electronics Show, Bosch introduced its long-range LiDAR for vehicles. This technology contains long- and short-range radars, so it is appropriate for use in city centers and on highways.
The UN General Assembly set the goal of reducing road traffic accident-related deaths and injuries globally by 50% by 2030. The demand for ACC systems rises due to the increased focus on lowering the number of traffic accidents and enhancing driver safety. ACC systems help maintain a safe distance from the car in front of you and lower the chance of rear-end collisions.
Demand from Customers for Convenience and Comfort
Customers are increasingly looking for cars with innovative driver assistance features that make driving more convenient and comfortable. When traveling on long highway trips, ACC technology provides a more comfortable driving environment. The ACC system can handle speed adjustments while maintaining safe distances from other vehicles due to drivers’ ability to set a desired speed.
In December 2023, Suzuki Motors launched Jimny XL, a 5-door version of Jimny in Australia. The Jimny XL boasts notable improvements over the India-spec model, such as the incorporation of Advanced Driver Assistance Systems including additional features of adaptive cruise control, lane departure warning, autonomous emergency braking, and a twin-camera brake support system.
Asia-Pacific Leads in the Global Adaptive Cruise Control Market Share
Based on region, Asia-Pacific leads the market with higher EV adoption, increased per capita income, and expanding manufacturing spaces in emerging economies. The low-cost raw material supply and the widespread manufacture of adaptive cruise control technology are propelling the market expansion.
Significant advancements in automotive technology, such as radar, artificial intelligence, and sensors, have been made in the region. Both, automakers and tech firms are creating more advanced adaptive cruise control systems. In addition, the rising number of fatalities in road accidents has raised safety concerns about vehicle security dynamics.
For instance, in January 2024, Kia Motors launched Sonet 2024 with 10 ADAS features. These features include Front Collision Warning (FCW), Front Collision Avoidance Assist-Cycle (FCA-cyclist), Lane Keep Assist (LKA), Lane Departure Warning (LDW), etc.
Future Market Scenario (2024–2031F)
- As automakers look to offer more semi-autonomous features, ACC is becoming increasingly available as an option in new vehicles.
- ACC systems’ performance is improving due to advancements in artificial intelligence (AI) and sensor technology.
- By automatically braking, ACC can aid in accident prevention when a vehicle ahead slows or stops.
- By taking over the responsibility of following a vehicle ahead, ACC can assist in reducing driver fatigue.
Report Scope
“Adaptive Cruise Control (ACC) Market Assessment, Opportunities and Forecast, 2017–2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global adaptive cruise control (ACC) market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
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The global Adaptive Cruise Control (ACC) Systems market was valued at million US$ in 2018 and will reach million US$ by the end of 2025, growing at a CAGR of during 2019–2025.This report focuses on Adaptive Cruise Control (ACC) Systems volume and value at global level, regional level and company level.
From a global perspective, this report represents overall Adaptive Cruise Control (ACC) Systems market size by analyzing historical data and future prospect.Regionally, this report categorizes the production, apparent consumption, export and import of Adaptive Cruise Control (ACC) Systems in North America, Europe, China, Japan, Southeast Asia and India.Report Sample includes:- Table of Contents- List of Tables & Figures- Charts- Research MethodologyGet FREE Sample of this Report at https://www.24marketreports.com/report-sample/global-adaptive-cruise-control-systems-2019-844For each manufacturer covered, this report analyzes their Adaptive Cruise Control (ACC) Systems manufacturing sites, capacity, production, ex-factory price, revenue and market share in global market.The following manufacturers are covered:Robert BoschContinentalDelphi AutomotiveDensoMagna InternationalMandoHyundai MobisValeoAutolivTRW AutomotiveZF-TRWVBOX AutomotiveWABCOSegment by RegionsNorth AmericaEuropeChinaJapanSoutheast AsiaIndiaSegment by TypeInfrared SensorsUltrasonic SensorsLaser SensorsOthersSegment by ApplicationCommercial VehiclesPassenger VehiclesGet the Complete Report & TOC at https://www.24marketreports.com/automotive-and-transportation/global-adaptive-cruise-control-systems-2019-844CONTACT US:276 5th Avenue, New York , NY 10001,United StatesInternational: (+1) 646 781 7170Email: [email protected] Us On linkedin :- https://www.linkedin.com/company/24-market-reports
