Adaptive Cruise Control Market

Market Overview:

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. The significant growth in the automotive industry, extensive research and development (R&D) activities to incorporate the latest technologies, and rising expenditure capacities of consumers represent some of the key factors driving the market.

Adaptive cruise control (ACC) is an active safety system that is designed to automatically control the acceleration and braking of a vehicle. It uses radars, cameras, and distance and speed sensors to monitor the gap and speed of the vehicle in front and automatically adjusts the car's speed. ACC is widely used to automatically adjust the speed of the vehicle and maintain a safe following distance from the car in front. It helps in improving fuel efficiency, preventing rear-end collisions by automatically slowing down the vehicle, effortless and convenient driving, reducing driver fatigue, and improving safety and comfort while driving, particularly for persons with disabilities. As a result, ACC finds extensive application in commercial and passenger cars.

Adaptive Cruise Control Market Trends:

The growing automotive sector and the increasing need for improved road safety across the globe are among the key factors driving the market growth. ACC assists in automatically controlling vehicle speed, maintaining a predefined minimum distance, and providing a safe driving experience. In line with this, the widespread system adoption in autonomous and self-driving vehicles, as it helps them to work efficiently, is favoring the market growth. Moreover, the sudden shift toward autonomous vehicles owing to their advanced technology in safety systems and the rising demand for high efficiency and greater comfort is acting as another growth-inducing factor. Apart from this, original equipment manufacturers (OEMs) are increasingly investing in the development of sensors and components, such as the launch of higher-performing millimeter-wave radar that offers a longer and wider detection range, which helps to improve responsiveness. This, in turn, is providing an impetus to the market growth. Additionally, the widespread system utilization due to the rising number of vehicles on roads, increasing traffic congestion, and instances of accidents are propelling the market growth. Furthermore, significant technological advancements in radar, LIDAR, and cameras that help to improve accuracy in distance measurement and enhance the ability to detect obstacles are positively influencing the market growth. Other factors, including the increasing sales of luxury and premium vehicles, extensive research and development (R&D) activities to incorporate the latest technologies, rising expenditure capacities of consumers, and the implementation of various government initiatives to enhance the safety of vehicles and prevent road accidents are creating a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global adaptive cruise control market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on technology, vehicle types, and end use.

Technology Insights:

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

The report has provided a detailed breakup and analysis of the adaptive cruise control market based on the technology. This includes light detection and ranging (LiDAR), ultrasonic, image, laser, and RADAR sensors. According to the report, RADAR sensors represented the largest segment.

Vehicle Type Insights:

• Commercial Vehicles
• Passenger Cars
   

A detailed breakup and analysis of the adaptive cruise control market based on the vehicle type has also been provided in the report. This includes commercial and passenger cars. According to the report, passenger cars accounted for the largest market share.

End Use Insights:

• OEMs
• Aftermarket
   

The report has provided a detailed breakup and analysis of the adaptive cruise control market based on the end use. This includes OEMs and aftermarket. According to the report, OEMs represented the largest segment.

Regional Insights:

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

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for adaptive cruise control. Some of the factors driving the North America adaptive cruise control market included the rising expenditure capacities of consumers, extensive research and development (R&D) activities to incorporate the latest technologies, and significant technological advancements.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global adaptive cruise control market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Continental Ag, Ford Motor Company, Hella KGaA Hueck & Co. (Faurecia SE), HL Mando Corporation, Magna International Inc., Robert Bosch GmbH, Valeo, ZF Friedrichshafen AG, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global adaptive cruise control market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global adaptive cruise control market?
• What is the impact of each driver, restraint, and opportunity on the global adaptive cruise control market?
• What are the key regional markets?
• Which countries represent the most attractive adaptive cruise control market?
• What is the breakup of the market based on the technology?
• Which is the most attractive technology in the adaptive cruise control market?
• What is the breakup of the market based on the vehicle types?
• Which is the most attractive vehicle type in the adaptive cruise control market?
• What is the breakup of the market based on end use?
• Which is the most attractive end use in the adaptive cruise control market?
• What is the competitive structure of the global adaptive cruise control market?
• Who are the key players/companies in the global adaptive cruise control market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the adaptive cruise control market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global adaptive cruise control market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the adaptive cruise control industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.