The Global Adaptive Cruise Control Market was at US$ 30.22 Bn in 2022 and is growing to approx US$ 49.9 Bn by 2032, with a CAGR growth of 7% between 2023-2032.

AUSTIN, TEXAS, UNITED STATES, August 28, 2023/EINPresswire.com/ -- According to the study, The Global Adaptive Cruise Control Market was estimated at USD 30.22 Billion in 2023 and is anticipated to reach around USD 49.9 Billion by 2032, growing at a CAGR of roughly 7% between 2023 and 2032.

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Global Adaptive Cruise Control Market: Overview

Adaptive Cruise Control (ACC) is an advanced driver assistance system (ADAS) designed to enhance driving comfort and safety on highways and open roads. It is an extension of traditional cruise control, which allows a vehicle to maintain a constant speed set by the driver.

However, unlike standard cruise control, ACC uses radar, lidar, or other sensor technologies to detect and monitor the distance between the vehicle and the one ahead. The ACC system automatically adjusts the vehicle’s speed to maintain a safe following distance from the car in front.

When traffic slows down, the ACC system will reduce the vehicle’s speed, and when the road ahead is clear, it will accelerate back to the preset speed.

This adaptive feature allows the vehicle to respond to changes in traffic flow without the need for constant driver intervention, making long drives more comfortable and less fatiguing.

Global Adaptive Cruise Control Market: Growth Drivers

Adaptive Cruise Control Market: Growth Factors and Dynamics

Technological Advancements: Advancements in sensor technologies, artificial intelligence, and connectivity are driving significant improvements in ACC systems. Manufacturers are continually enhancing the accuracy, responsiveness, and reliability of ACC, making it more effective in real-world driving scenarios.

Rising Focus on Vehicle Safety: With a growing emphasis on road safety, consumers and regulatory authorities are increasingly recognizing the importance of advanced driver assistance systems like ACC. ACC’s ability to maintain a safe following distance and adapt to changing traffic conditions contributes to overall vehicle safety.

Autonomous Driving Development: ACC is an essential component of the progression towards autonomous driving. As the automotive industry continues to invest in self-driving technologies, ACC serves as a stepping stone, providing a foundation for more advanced autonomous systems.

Government Regulations: Stringent government regulations mandating the inclusion of safety features in vehicles have contributed to the wider adoption of ACC. In several regions, governments are encouraging or requiring the implementation of ACC in new vehicles to enhance road safety.

Consumer Demand for Comfort and Convenience: ACC offers convenience to drivers by reducing the need for constant speed adjustments, particularly during long drives and congested traffic. As consumers seek more comfortable driving experiences, the demand for ACC-equipped vehicles rises.

Integration with Connected Car Technology: ACC is increasingly being integrated with connected car platforms, allowing it to interact with other safety and navigation systems. The integration enhances the overall driving experience and opens up possibilities for more sophisticated features.

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Key Insights:

A) As per the analysis shared by our research analyst, the Global Adaptive Cruise Control Market is estimated to grow annually at a CAGR of around 7% over the forecast period (2023-2032).
B) In terms of revenue, the Global Adaptive Cruise Control Market size was valued at around USD 30.22 Billion in 2023 and is projected to reach USD 49.9 Billion by 2032. Due to a variety of driving factors, the Market is predicted to rise at a significant rate.
C) Intel’s Acquisition of Mobileye: In 2017, Intel Corporation, a global technology company, acquired Mobileye, an Israeli company known for its advanced computer vision and sensing technologies for ADAS and autonomous driving. This acquisition enabled Intel to expand its footprint in the automotive industry and bolster its ADAS capabilities, which include ACC.
D) Aptiv’s Acquisition of NuTonomy: Aptiv, an automotive technology company, acquired NuTonomy, a self-driving technology startup, in 2017. This acquisition strengthened Aptiv’s position in the development of autonomous driving solutions, including ADAS features like ACC.
E) ZF Friedrichshafen AG’s Acquisition of WABCO: In 2020, ZF Friedrichshafen AG, a German automotive supplier, completed the acquisition of WABCO Holdings Inc., a global supplier of commercial vehicle technologies. The acquisition enhanced ZF’s capabilities in ADAS and automated driving systems, including ACC for commercial vehicles.
F) Disruptions in Automotive Production: During the early stages of the pandemic, many countries implemented strict lockdown measures, leading to the temporary closure of automotive manufacturing plants. Reduced production and disruptions in supply chains resulted in a slowdown in the production and installation of ACC systems in new vehicles.

Press Release For Global Adaptive Cruise Control Market: https://www.custommarketinsights.com/press-releases/adaptive-cruise-control-market-size/

Regional Landscape

North America: North America, comprising the United States and Canada, has been a significant market for ACC due to several factors. The region has witnessed a strong focus on automotive safety, with government regulations promoting the adoption of advanced driver assistance systems, including ACC. High consumer awareness, a large automotive industry, and increasing demand for luxury and premium vehicles equipped with advanced safety features have also contributed to the growth of the ACC market in this region.

Europe: Europe is another prominent market for ACC, driven by the region’s strict safety regulations and emphasis on reducing road accidents. Many European countries have implemented regulations mandating the inclusion of ACC systems in vehicles. The presence of well-established automotive manufacturers and high consumer demand for premium vehicles equipped with advanced safety technologies has further boosted the ACC market in Europe.

Asia-Pacific: The Asia-Pacific region has shown significant growth potential for the ACC market. The region’s rapidly expanding automotive industry, increasing disposable income, and rising awareness of vehicle safety have contributed to the demand for ACC systems. Countries like China, Japan, and South Korea have emerged as key players in the market, with a growing number of vehicles being equipped with ACC systems.

Latin America: Latin America has shown moderate growth in the ACC market. Brazil, Mexico, and Argentina are some of the countries where ACC adoption has been relatively higher due to growing consumer awareness of advanced safety features. However, economic fluctuations and regulatory variations across different countries in the region have influenced market dynamics.

Middle East and Africa: The ACC market in the Middle East and Africa is relatively smaller compared to other regions. However, the region has witnessed steady growth, driven by increasing vehicle sales, infrastructure development, and growing awareness of road safety. The UAE, Saudi Arabia, and South Africa are some of the countries where ACC adoption has been notable.

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Key Players

Autoliv Inc
Continental Ag
Delphi Automotive PLC
Denso Corporation
Ford Motor Company
Hyundai Mobis
Magna International
Robert Bosch GmbH
Wabco
ZF Friedrichshafen
Others

The Global Adaptive Cruise Control Market is segmented as follows:

By Component Type

LiDAR
RADAR
Image
Ultrasonic
Others

By Vehicle Type

Passenger cars
Commercial vehicles

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
Global India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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Take a Look at our other Reports:

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Global Advanced Driver Assistance Systems (ADAS) Market 2023–2032: https://www.custommarketinsights.com/report/advanced-driver-assistance-systems-market/
Automotive Electronics Market 2023–2032: https://www.custommarketinsights.com/report/automotive-electronics-market/
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