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The automotive industry has seen substantial change in recent years, guided in part by quick improvements in technology. One prominent improvement that has increased prevalent assumptions is Adaptive Cruise Control (ACC), a system intended to improve vehicle safety and comfort. The market dynamic contrast of the Automotive Adaptive Cruise Control market exhibits an inducing plot of technological progression, industry competition, and consumer demand.
The main driving factor behind the expansion of the ACC market is the rising emphasis on safety features in advanced vehicles. ACC, which applies radar and sensors to assert a safe following distance from the vehicle ahead, is associated with the industry's liability to reduce collisions and improve overall road safety. As consumers become more safety-conscious, the demand for vehicles equipped with advanced driver assistance systems, including ACC, continues to rise.
The progression of the controlling landscape has also played a key part in modeling the dynamics of the ACC market. Governments are applying stringent safety standards and ensuring the adoption of developed safety technologies. This regulatory push creates a favorable environment for ACC manufacturers as automakers strive to comply with these regulations and differentiate their vehicles in a competitive market.
Consumer preferences and awareness contribute significantly to market dynamics. As awareness of ACC and its benefits increases, consumers are actively seeking vehicles equipped with this technology. The convenience and reduced stress associated with ACC contribute to its popularity among consumers, particularly in urban environments where traffic congestion is a common challenge. Consequently, automakers are integrating ACC into a broader range of vehicle models, from luxury cars to mid-range and entry-level vehicles.
The global nature of the automotive enterprise contributes to the marketplace dynamics of ACC. Different regions showcase varying degrees of reputation and adoption of ACC generation, influenced by means of factors including infrastructure, cultural attitudes toward the era, and economic conditions. As emerging markets revel in monetary growth and an increase in disposable earnings, the demand for advanced car technologies, which includes ACC, is in all likelihood to surge.
However, demanding situations additionally exist in the marketplace dynamics of ACC. Concerns related to cybersecurity and the capability for device malfunctions pose limitations to tremendous adoption. Additionally, the value of integrating ACC into cars remains a source of attention for both producers and purchasers. Striking a balance between affordability and superior features will be crucial for the sustained growth of the ACC marketplace.
In the end, the market dynamics of the Automotive Adaptive Cruise Control marketplace replicate a confluence of technological innovation, regulatory initiatives, purchaser options, and industry competition. As protection will become a paramount situation for both regulators and purchasers, ACC technology is positioned to play a primary function in shaping the future of the automobile enterprise. With ongoing improvements and collaborative efforts, the ACC market is poised for persevered growth and integration into cars throughout numerous segments.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Technology, Vehicle Type, End-user and Region |
Automotive Adaptive Cruise Control Market Highlights:
Automotive Adaptive Cruise Control Market Overview:
Automotive Adaptive Cruise Control Market Size was valued at USD 33.5 Billion in 2023. The Automotive Adaptive Cruise Control Market industry is projected to grow from USD 36.36 Billion in 2024 to USD 64.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.46% during the forecast period (2024 - 2032). Increased demand for advanced driver assistance systems and autonomous vehicles are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Automotive Adaptive Cruise Control Market Trends
The growing emphasis on vehicle safety and comfort is propelling market growth.
The increased emphasis on vehicle safety and comfort is the primary factor driving the growth of the automotive adaptive cruise control market CAGR. ACC systems are intended to increase vehicle safety by lowering the likelihood of accidents caused by human error. They also improve driver comfort by lowering tiredness and tension. To fulfill the growing demand for safer and more comfortable driving experiences, automakers are progressively adding ACC systems as standard features in their vehicles. Toyota, for example, has made ACC standard in its 2023 Corolla model, while Hyundai has integrated the technology in its 2023 Sonata model.
In addition, government rules requiring the incorporation of safety features in vehicles are propelling the automotive adaptive cruise control market forward. In the United States, for example, the National Highway Traffic Safety Administration (NHTSA) has proposed a law that would require all new automobiles to include ACC systems by 2022.
The growing demand for autonomous vehicles is also driving the automotive adaptive cruise control industry. ACC is an important component of autonomous driving systems, which are gaining popularity among consumers due to its ability to improve safety and convenience. Automakers are significantly investing in self-driving technologies, and ACC is a vital component of these systems. Tesla's Autopilot technology, for example, uses ACC to keep a safe distance from other vehicles on the road.
Furthermore, the growing popularity of ride-sharing and car-sharing services is likely to increase demand for ACC systems. To ensure a secure and enjoyable travel for customers, these services necessitate vehicles equipped with advanced safety and convenience features such as ACC.
The vehicle adaptive cruise control market is predicted to increase significantly as demand for advanced driver assistance systems (ADAS) grows. Adaptive cruise control (ACC) is an ADAS system that automatically adjusts the speed of the vehicle to keep a safe distance from the vehicle ahead. Because of its ability to improve driving safety and comfort, this technology is gaining popularity among consumers.
For instance, Major automakers such as BMW, Mercedes-Benz, and Audi have made ACC a standard feature in their high-end cars. Furthermore, the increasing adoption of electric cars (EVs) is likely to boost the expansion of the automotive adaptive cruise control market, as EVs are equipped with modern technology to improve their driving experience and safety.
Automotive Adaptive Cruise Control Market Segment Insights:
Automotive Adaptive Cruise Control Technology Insights
The Automotive Adaptive Cruise Control Market segmentation, based on Technology includes Lidar, Radar, Laser, and Ultrasonic. In 2022, the radar sensors segment accounted for a moderate revenue share. Rising demand for vehicles that understand and complement human abilities within a vehicle is likely to fuel this segment's revenue growth. Modern automobiles are integrated with a variety of sensors to help human drivers with their responsibilities. These sensors aid in data collection and send essential information to systems for processing.
Automotive Adaptive Cruise Control Vehicle Type Insights
The Automotive Adaptive Cruise Control Market segmentation, based on Vehicle Type, includes Passenger car, Commercial Vehicle. In 2022, the passenger car segment accounted for a sizable revenue share. Increasing consumer awareness of the numerous benefits of having adaptive cruise control is likely to be a major factor driving market revenue development in this category. Adaptive cruise control helps drivers reduce stress when driving. This is due mostly to their capacity to automatically control vehicle speed while maintaining a specified minimum distance to the preceding vehicle.
Automotive Adaptive Cruise Control End-User Insights
The Automotive Adaptive Cruise Control Market segmentation, based on end-User, includes OEM, Aftermarket. The OEM segment dominates the industry. ACC systems are either a standard or optional feature on many cars from OEMs, and they are typically covered by warranties.
Figure 1: Automotive Adaptive Cruise Control Market, by end-user, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Automotive Adaptive Cruise Control Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. In 2022, the North American adaptive cruise control market will have the highest revenue share. Rising demand for commercial and luxury automobiles, as well as strict government rules enacted to reduce the rising number of road fatalities, are important factors driving market revenue growth in this area. Adaptive cruise control is vital because it improves vehicle safety, increasing consumer trust.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Automotive Adaptive Cruise Control Market Share By Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Automotive Adaptive Cruise Control Market accounts for the second-largest market share because of the increasing popularity of major automobile manufacturers such as Audi, BMW, and others. Further, the German Automotive Adaptive Cruise Control Market held the largest market share, and the UK Automotive Adaptive Cruise Control Market was the fastest growing market in the European region
The Asia-Pacific Automotive Adaptive Cruise Control Market is expected to grow at the fastest CAGR from 2024 to 2032. This is because of the growing worry about the frequency of road accidents, governments in various nations in this region have enacted tough policies and regulations to assure optimum safety in all cars manufactured within the region as well as imported from other regions. Moreover, China’s Automotive Adaptive Cruise Control Market held the largest market share, and the Indian Automotive Adaptive Cruise Control Market was the fastest growing market in the Asia-Pacific region.
Automotive Adaptive Cruise Control Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Automotive Adaptive Cruise Control Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Automotive Adaptive Cruise Control industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Automotive Adaptive Cruise Control industry to benefit clients and increase the market sector. In recent years, the Automotive Adaptive Cruise Control industry has offered some of the most significant advantages to medicine. Major players in the Automotive Adaptive Cruise Control Market, including Robert Bosch GmbH (Germany), Valeo SA (France), Hyundai Mobis (South Korea), ZF Friedrichshafen AG (Germany), Magna International Inc (Canada. and others, are attempting to increase market demand by investing in research and development operations.
DENSO Corporation is a Japanese automotive component manufacturer headquartered in Kariya, Aichi Prefecture. In 1949, the company was created as Nippon Denso Co. Ltd. after breaking away from Toyota Motor. Toyota owns around 25% of the company. Despite being a member of the Toyota Group of companies, sales to the Toyota Group accounted for less than 50% of total revenue in the fiscal year ending March 2016 (44% of income came from other automobile manufacturers in Japan, Germany, the United States, and China). Denso was the world's fourth largest auto components supplier in 2016. In January, 2022, Denso Corporation announced the development of multinational Safety Package 3*1. It is a sophisticated sensing active safety system. The enhanced performance of this system can be due to the combined performance of a millimeter-wave RADAR sensor and a vision sensor, which aids in identifying both road forms and things around it.
Ford Motor Company is an American multinational vehicle manufacturer based in Dearborn, Michigan. Henry Ford formed it and incorporated it on June 16, 1903. The Ford brand sells autos and commercial vehicles, whereas the Lincoln brand sells premium cars. Ford also has a 32% ownership in Jiangling Motors in China. The Ford family controls the corporation, which is listed on the New York Stock Exchange; they hold a minority of the company but have a majority of the voting power. In July 2021, BlueCruise was introduced by Ford with capabilities such as intelligent adaptive cruise control, stop-and-go, lane centering, and speed sign recognition. Given that your eyes are on the road, as detected by a driver-facing camera, your vehicle can operate hands-free. It allows your vehicle to operate hands-free as long as your eyes are on the road, as monitored by a driver-facing camera.
Key Companies in the Automotive Adaptive Cruise Control market include
- 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)
- Mando Corporation (South Korea)
Automotive Adaptive Cruise Control Industry Developments
November 2023- An Italian bicycle manufacturers owned by Piaggio Moto Guzzi introduced Stelvio, a road-oriented adventure bike, in the international market. It comes with traction control and cornering ABS, cruise control and five different riding modes apart from its 5.0-inch TFT display and switchgear.
August 2023- ZF developed an innovative technology called ZF Eco Control 4 ACC, which is a predictive adaptive cruise control system. This advanced system allows vehicles to increase their driving range by an additional 8%.
In June 2023, Plus selected Luminar as its long-range LiDAR provider for use in its PlusDrive-assisted commercial vehicle driving system; Luminar is involved in the manufacture of fully autonomous vehicles.
Bosch announced its new Adaptive Cruise Control radar sensor in 2021. While Driving, this sensor helps improve the accuracy and performance of the vehicle.
Valeo launched its improved Adaptive Cruise Control with the latest sensor technology in 2021. It enhances reliability and accuracy.
In February 2020, In the US, Continental is building a new plant for Advanced Driver Assistance Systems. A new factory developing radar sensors for production at New Braunfels, Texas, is being built. So far €100 million have been invested.
Automotive Adaptive Cruise Control Market Segmentation:
Automotive Adaptive Cruise Control Market By Technology Outlook
- Lidar
- Radar
- Laser
- Ultrasonic
Automotive Adaptive Cruise Control Market By Vehicle Type Outlook
- Passenger car
- Commercial Vehicle
Automotive Adaptive Cruise Control Market By End-User Outlook
- OEM
- Aftermarket
Automotive Adaptive Cruise Control Regional Outlook
North America
- US
- Canada
Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
Rest of the World
-
Middle East
-
Africa
-
Latin America
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