Automotive Adaptive Cruise Control Market 2024-2033: Technological Advancements, Competitive Landscape and Strategies
The automotive adaptive
cruise control global market report 2024 from The Business Research Company
provides comprehensive market statistics, including global market size,
regional shares, competitor market share, detailed segments, trends, and
opportunities. This report offers an in-depth analysis of current and future
industry scenarios, delivering a complete perspective for thriving in the
industrial automation software market.
Automotive Adaptive Cruise Control Market, 2024 report by The Business Research
Company offers comprehensive insights into the current state of the market and
highlights future growth opportunities.
Market Size -
The automotive adaptive cruise control market size has grown rapidly in recent
years. It will grow from $20.84 billion in 2023 to $23.24 billion in 2024 at a
compound annual growth rate (CAGR) of 11.5%. The growth in the historic period
can be attributed to regulatory mandates, rise in passenger car sales, economic
growth, government support.
The automotive adaptive cruise control market size is expected to see rapid
growth in the next few years. It will grow to $35.19 billion in 2028 at a
compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period
can be attributed to increasing emphasis on vehicle safety, rising vehicle
sales, rising connected vehicles, rising urbanization, rising disposable
income. Major trends in the forecast period include enhanced sensor fusion,
machine learning and ai integration, driver monitoring systems, long-range
radar, cooperative adaptive cruise control (cacc).
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Scope Of Automotive Adaptive Cruise Control Market
The Business Research Company's reports encompass a wide range of information,
including:
1. Market Size (Historic and Forecast): Analysis of the market's historical
performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market
landscape.
4. Key Segments: Breakdown of the market into its primary segments and their
respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and
geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting
the market.
Automotive Adaptive Cruise Control Market Overview
Market Drivers -
The rise in the number of road accidents is expected to propel the growth of
the automotive adaptive cruise control market going forward. A road accident
refers to any incident that occurs on a road that causes injury due to crashes
originating from, finishing with, or involving a vehicle partially or wholly on
a public road. The automotive adaptive cruise control system helps in reducing road
accidents by using technology that slows the traffic ahead and automatically
adjusts the speed of the vehicles. For instance, in 2022, according to the
Ministry of Road Transport and Highway, an India-based ministry, a total of
3.66k road accidents were reported by states and union territories, in which
13.17k people lost their lives and 3.48k people were injured. Therefore, the
rise in the number of road accidents is driving the growth of the automotive
adaptive cruise control market.
Market Trends -
Technological advancements are a key trend gaining popularity in the automotive
adaptive cruise control market. Major companies operating in the automotive
adaptive cruise control market are focused on developing new technological
solutions to strengthen their position. For instance, in January 2021, Volvo, a
Sweden-based company that provides automotive adaptive cruise control, launched
the Volvo S60 in India. The new Volvo S60 possesses the ‘Pilot Assist feature’
that provides driving safety and convenience. This advanced technological
feature allows the car to maintain a consistent speed with other vehicles while
also providing steering assistance and an automatic braking or accelerating
system.
The automotive adaptive cruise control market covered in this report is
segmented –
1) By Component: LIN, CAN, ECU, MCU, Wire harness
2) By Technology: RADAR Sensor, LIDAR Sensor
3) By Mode Of Operation: Normal Adaptive Cruise Control System, Connected
Adaptive Cruise Control System
4) By Vehicle: Passenger Vehicle, Commercial Vehicle
5) By Distribution Channel: OEM, Aftermarket
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Regional Insights -
North America will be the largest region in the automotive adaptive cruise
control market in 2023. The regions covered in the automotive adaptive cruise
control market report include Asia-Pacific, Western Europe, Eastern Europe,
North America, South America, Middle East and Africa.
Key Companies -
Major companies operating in the automotive adaptive cruise control market
include Magna International Inc, Continental AG, Denso Corporation, Hitachi
Automotive Systems Ltd., Robert Bosch GmbH, Valeo SA, Hyundai Motor Company, ZF
Friedrichshafen AG, Mando Corporation, Nidec Elesys America Corporation,
Velodyne Lidar, Knorr-Bremse AG, Eaton Corporation plc, ADVICS Co Ltd, Visteon
Corporation, Autoliv Inc., Delphi Automotive LLP, WABCO Holdings Inc., TRW
Automotive Holdings Corp., Hella KGaA Hueck & Co., Mobileye N.V., Gentex
Corporation, Aptiv plc, Infineon Technologies AG, NXP Semiconductors N.V.,
Texas Instruments Inc., STMicroelectronics N.V., Analog Devices Inc., Renesas
Electronics Corporation, ON Semiconductor Corporation, Maxim Integrated
Products Inc., Melexis NV, Sensata Technologies Inc., TE Connectivity Ltd.,
Panasonic Corporation, Toshiba Corporation
Table of Contents
1. Executive Summary
2. Automotive Adaptive Cruise Control Market Report Structure
3. Automotive Adaptive Cruise Control Market Trends And Strategies
4. Automotive Adaptive Cruise Control Market – Macro Economic Scenario
5. Automotive Adaptive Cruise Control Market Size And Growth
…..
27. Automotive Adaptive Cruise Control Market Competitor Landscape And Company
Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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