Global Adaptive Cruise Control Market research report offers a panoramic view of the Adaptive Cruise Control market, regulatory framework, and macro- and micro-economic factors that influence the growth of the industry. The report strives to offer authentic information about the Adaptive Cruise Control market size, share, product portfolio, revenue estimations, and growth rate. The report has been formulated through extensive primary and secondary research along with verified and reliable data obtained from industry experts and professionals. The study offers a clear understanding of the current market scenario owing to the COVID-19 pandemic and offers a comprehensive analysis of the current and future impact of the pandemic on the overall market landscape. The economic landscape and the market environment have observed drastic changes due to the social restrictions and government-enforced lockdowns imposed to curb the spread of COVID-19. The report is furnished with the latest scenario and growth outlook of the market with regard to the impact of the pandemic.
The rising rate of road accidents and increasing government initiatives for implementing autonomous vehicles are driving the demand for the market.
The increasing rate of road mishaps worldwide due to augmented traffic and lack of safety measures, the incorporation of collision avoidance and advanced braking systems in present-day automobiles, stringent government regulations concerning road and passenger safety, and manufacturers’ rising focus on introducing advanced automotive safety features complying with regulatory norms are some other vital parameters contributing to the global adaptive cruise control market growth.For instance, President Moon Jae-in of South Korea has announced a plan to commercialize fully autonomous vehicles by 2027 and to become the world's first country to have completely self-driving cars on South Korea roads.
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Hence, adaptive cruise control has improved drivers’ safety and comfort, enhancing the overall driving experience. Some of the leading car brands offering this feature include BMW 3 Series, Toyota Corolla Hatchback, Nissan Altima, and Hyundai Sonata. The expanding transportation logistics sector, increasing adoption of technologically advanced cruise control systems, and the soaring disposable incomes of consumers further propel the demand for adaptive cruise controls. However, sensor failures caused by extreme weather conditions like intense fog and thunderstorms and escalating costs of advanced automotive features are certain factors predicted to hamper the global adaptive cruise control market growth over the estimated timeframe.
Key Highlights of the Report:
Among the key market regions, Europe is poised to lead the global adaptive cruise control market in the coming years, owing to the rising production of automobiles in the region and the presence of renowned automotive manufacturers, such as Continental AG, Robert Bosch GmbH, Valeo SA, and ZF Friedrichshafen.
The leading industry participants include 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 luxury SUV Gloster in India. The new MG Gloster features an adaptive cruise control system that automatically controls the car’s speed with no input from the driver. Lane Departure Warning (LDW), Front Collision Warning (FCW), Auto Park Assist (APA), and Blind Spot Monitor (BSM) are the other significant features of the new vehicle.
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For the purpose 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)
Assisting Systems
Predictive Systems
Multi-sensor Systems
Vehicle Outlook (Revenue, USD Billion; 2017-2027)
Commercial Vehicles
Passenger Cars
Technology Outlook (Revenue, USD Billion; 2017-2027)
LiDAR
Radar
Image
Ultrasonic
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By Region (Revenue: USD Billion; 2017-2027)
North America
U.S.
Canada
Europe
Germany
U.K.
France
BENELUX
Rest of Europe
Asia Pacific
China
Japan
South Korea
Rest of Asia Pacific
Latin America
Brazil
Rest of Latin America
Middle East Africa
Saudi Arabia
U.A.E.
Rest of Middle East Africa
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