According to the report by Expert Market Research (EMR), the global automotive adaptive cruise control market size is projected to grow at a CAGR of 14.50% between 2024 and 2032. Aided by the advancements in sensor technology and automotive electronics, the market is expected to grow significantly by 2032.
Adaptive cruise control is an advanced driver assistance system that automatically adjusts a vehicle’s speed to maintain a safe distance from the vehicle ahead. It uses radar and sometimes camera systems to monitor the traffic and can autonomously slow down or speed up the vehicle in response to traffic conditions. This technology not only enhances driving comfort but also plays a significant role in improving road safety.
The primary driver of the automotive adaptive cruise control market growth is the increasing consumer demand for vehicle safety features and driving automation. With rising awareness of road safety, consumers are showing a preference for vehicles equipped with advanced safety systems, including ACC.
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The rapid advancements in sensor technology and automotive electronics have been pivotal in the development of more efficient and reliable ACC systems. Integration with other systems like emergency braking and lane-keeping assist is further driving the market growth.
Various governments worldwide are introducing regulations mandating the inclusion of advanced safety features in vehicles. These regulations are compelling automakers to incorporate systems like ACC, influencing the automotive adaptive cruise control market outlook.
In North America, particularly in the United States, there is a strong demand for vehicles equipped with advanced safety features, including ACC. The region’s well-established automotive industry and high consumer purchasing power make it a significant market.
The global automotive adaptive cruise control market demand is poised for significant growth, driven by the increasing demand for vehicle safety, advancements in automotive technologies, and regulatory mandates for advanced safety features. While challenges such as cost and complexity exist, the opportunities, especially in the context of autonomous and electric vehicles, are vast. As the automotive industry continues to innovate towards higher levels of automation and safety, adaptive cruise control systems are expected to become an indispensable feature in modern vehicles.
Automotive Adaptive Cruise Control Market Segmentation
The market can be divided based on type, vehicle, component, and region.
Market Breakup by Type
- Normal Adaptive Cruise Control
- Connected Adaptive Cruise Control
Market Breakup by Vehicle
- Passenger Cars
- Commercial Vehicles
Market Breakup by Component
- LiDAR
- RADAR
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Automotive Adaptive Cruise Control Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global automotive adaptive cruise control market. Some of the major players explored in the report by Expert Market Research are as follows:
- Continental AG
- Robert Bosch GmbH
- ZF Friedrichshafen AG
- Mando Corporation
- Valeo
- Delphi Technologies (BorgWarner Inc.)
- Others
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