Adaptive Cruise Control Market Size, Share, Industry Trends, Latest Insights And Forecast 2024-2032


(MENAFN- IMARC Group) IMARC Group, a leading market research company, has recently releases report titled
“Adaptive Cruise Control Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032
,” The study provides a detailed analysis of the industry, including the global
adaptive cruise control market
size, share, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the adaptive cruise control market?

The global adaptive cruise control market size reached US$ 36.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 60.8
Billion by 2032, exhibiting a growth rate (CAGR) of 5.69% during 2024-2032.

Factors Affecting the Growth of the Adaptive Cruise Control Industry:

  • Technological Advancements in Autonomous Vehicles:

The increase in autonomous and semi-autonomous vehicle development is a primary catalyst for the adaptive cruise control market. As automotive companies invest heavily in research and development, ACC systems have become more sophisticated, incorporating advanced radar, lidar, and camera systems to enhance vehicle safety and efficiency. These technologies enable vehicles to adjust speed automatically, maintain safe distances from other vehicles, and even anticipate potential hazards on the road. Furthermore, integration with other driver-assistance systems (like lane-keeping assist) has made ACC a cornerstone feature for consumers seeking the latest in vehicle safety and automation.

  • Increasing Focus on Road Safety:

Governments and regulatory bodies worldwide are intensifying their focus on road safety, implementing stricter safety standards, and mandating the inclusion of advanced safety features in new vehicles. Adaptive cruise control, recognized for its potential to significantly reduce the risk of accidents caused by human error, such as rear-end collisions and speed-related crashes, is at the forefront of these safety features. By automatically adjusting the vehicle's speed to maintain a safe following distance, ACC contributes to safer road environments. This regulatory push, coupled with growing consumer awareness and demand for vehicles equipped with safety-enhancing technologies, propels the growth of the ACC market.

  • Consumer Demand for Comfort and Convenience:

Today's consumers are increasingly prioritizing comfort and convenience in their vehicles, driving automakers to include advanced features that enhance the driving experience. Adaptive cruise control, with its ability to automate speed control and relieve the driver of constant acceleration and braking, especially in congested traffic, plays directly into this demand. The convenience of ACC in long-distance travel and daily commutes has not only improved driver comfort but also contributed to its growing popularity among consumers. This demand for enhanced driving convenience, coupled with the increased willingness of consumers to invest in advanced vehicle technologies, fuels the expansion of the ACC market.

Request a PDF Sample of the Report:
https://www.imarcgroup.com/adaptive-cruise-control-market/requestsample

Adaptive Cruise Control Market Report Segmentation:

Breakup By Technology:

  • Light Detection and Ranging (LiDAR) Sensors
  • Ultrasonic Sensors
  • Image Sensors
  • Laser Sensors
  • RADAR Sensors

Based on technology, RADAR sensors constitute the largest segment due to their critical role in enabling advanced driver-assistance systems (ADAS) and autonomous driving technologies by providing precise distance and speed data of surrounding objects.

Breakup By Vehicle Type:

  • Commercial Vehicles
  • Passenger Cars

Based on vehicle type, passenger cars represent the largest segment as they constitute the majority of vehicles on the road, driving higher demand for safety and convenience features that employ advanced technologies.

Breakup By End Use:

  • OEMs
  • Aftermarket

Based on end use, the Original Equipment Manufacturer (OEM) segment is the largest due to the increasing integration of advanced safety and navigation features directly into new vehicles, reflecting the industry's shift towards incorporating cutting-edge technologies during the manufacturing process.

Breakup By Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Based on region, North America is the largest market, attributed to the high adoption rate of advanced automotive technologies, stringent safety regulations, and the presence of major automotive and technology companies driving innovation and demand in the sector.

Global Adaptive Cruise Control Market Trends:

One emerging trend in the adaptive cruise control market is the integration of machine learning and artificial intelligence (AI) to enhance system capabilities and decision-making processes. These technologies enable adaptive cruise control systems to learn from a vast array of driving scenarios, improving their predictive accuracy and the ability to autonomously adjust to complex traffic conditions. Furthermore, Vehicle to Everything (V2X) technology facilitates real-time communication between vehicles and various elements of the traffic system, such as traffic lights and road signs, allowing adaptive cruise control systems to make more informed decisions based on comprehensive environmental data.

Who are the key players operating in the industry?

The report covers the major market players including:

  • Continental Ag
  • Ford Motor Company
  • Hella KGaA Hueck & Co. (Faurecia SE)
  • HL Mando Corporation
  • Magna International Inc.
  • Robert Bosch GmbH
  • Valeo, ZF Friedrichshafen AG

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

Contact US:

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

Email:

Tel No:(D) +91 120 433 0800

United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163

MENAFN28022024004122016232ID1107910232


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.