Adaptive Cruise Control Market Size, Share, Development, Growth and Demand

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Global Adaptive Cruise Control Market Witness
18.3 CAGR During 2017 2023
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Global Adaptive Cruise Control (ACC) Market
According to a new market research report Global
Adaptive Cruise Control Market Size, Share,
Development, Growth and Demand Forecast to 2023 -
Industry Insights by Technology (Lidar, Radar,
Laser and Ultrasonic), by Application (Passenger
cars, Commercial vehicles), by End-Use (OEMs,
Aftermarket) published by PS Market Research,
the global adaptive cruise control market is
projected to reach 15,290 million by 2023,
growing at a CAGR of 18.3 during the forecast
period (2017 2023). Browse Report Description
at https//www.psmarketresearch.com/market-analys
is/adaptive-cruise-control-market
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Global Adaptive Cruise Control (ACC) Market
Global adaptive cruise control market worth
15,290.0 million in 2023
As per the research, the global adaptive cruise
control market high is likely to grow from
4,767.0 million in 2016 to 15,290.0 million by
2023. The rapidly growing automotive industry
especially in emerging economies of India, China,
Brazil is generating significant demand for
vehicle fitted with adaptive cruise control.
Increasing number of road accident and awareness
to safety systems is also driving the market.
Vehicle safety regulations and initiatives by
various associations and trade unions are backing
the increasing installations of adaptive cruise
control (ACC) systems in vehicles. Governments
and associations across the globe have been
increasingly formulating multi-dimensional
policies toward vehicle and passenger safety,
increasing fuel efficiency and improving overall
performance of the vehicle.
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Global Adaptive Cruise Control (ACC) Market
Insights on market segments
As per the findings of research, the global
adaptive cruise control market has been segmented
into technology, application, end-use and region.
In 2016, radar segment accounted for the largest
share in global adaptive cruise control market
and garnered 33.7 share in the global market. On
the other hand, lidar segment is expected to
witness the fastest growth in the global adaptive
cruise control market. The major factors driving
the growth of the radar and lidar is increasing
adoption of adaptive cruise control system in
passenger car and commercial vehicles. Passenger
cars is the dominating segment in the adaptive
cruise control market.
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Global Adaptive Cruise Control (ACC) Market
North America and Europe to contribute over 65
to the global adaptive cruise control market
North America and Europe collectively accounted
for more than 65 in the global adaptive cruise
control market in 2016. The regions are expected
to dominate the global market during the forecast
period. The major factor attributing to the
growth is the increase in vehicle production,
stringent safety norms towards vehicle safety and
technological advancement. The United States New
Car Assessment Program (US NCAP) by National
Highway Traffic Safety Administration (NHTSA) has
helped in focusing on increased consumer concerns
resulting in more number of people installing
such systems. In addition, development of safety
features in vehicles will lead to improvement in
the rating system, which will in turn lead to a
positive change in the market. Adaptive cruise
control system can be seen in a wide array of
cars. Audi, BMW, Chevrolet, Dodge, Ford, Honda,
Hyundai, Land Rover, Lexus, Mercedes-Benz,
Nissan, Porsche, Subaru, Toyota, and Volvo are
some of the well-known brands that offer adaptive
cruise control system as standard or optional
equipment in some of their cars.
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Global Adaptive Cruise Control (ACC) Market
Growing demand of Passenger cars and commercial
vehicles segment across the globe
The major factors driving the growth of the
market includes growing demand of passenger cars
and commercial vehicles globally. India and China
have emerged as the growing countries where the
vehicle production has increased rapidly in past
five years and the trend is likely to continue
during the forecast period. Growth in sales of
passenger vehicles in India was the fastest among
the eight largest auto markets in the world in
2016. In North America, the outlook in the U.S.
and Canada remained promising and achieved high
sales figures in 2016 and without any overriding
concern of a slow down on the horizon in either
market. The Middle East region and countries in
rest of the world, which include Brazil, Chile,
Iran, Australia have gained global traction in
the recent time and is expected to remain at a
forefront of market due to which several OEMs
continue to explore local manufacturing options
in these countries.
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Global Adaptive Cruise Control (ACC) Market
The market is dominated by organized players
The adaptive cruise control market is majorly
dominated by Tier 1 players having presence
across the globe. Some of the major players
involved include Autoliv Inc., Continental AG,
Denso Corporation, Delphi Automotive PLC, Robert
Bosch GmbH, Valeo SA, Hyundai Mobis, ZF
Friedrichshafen AG, and Magna International
Inc. Merger and acquisition and strategic
partnerships have been the major recent
developments in the global adaptive cruise
control market. For instance, Delphi Automotive
PLC acquired Movimento, one of the leading
supplier of Over-the-Air (OTA) software and data
management systems for the automotive industry in
Jan 2017. The acquisition of Movimento will
strengthen Delphis presence in the vehicle
connectivity market. Prior to this in Oct 2016,
Denso Corporation and Toshiba Corporation entered
in a partnership agreement to develop an
artificial intelligence technology called Deep
Neural Network-Intellectual Property (DNN-IP).
The new technology will use in image recognition
systems which was earlier developed by companies
individually to expand their presence in the
advanced driver assistance system market. Earlier
in Jan 2016, Magna International acquired one of
Getrag Group of Companies. Getrag is a one of the
leading suppliers of vehicle transmission
systems. Magna completed the deal at the purchase
price, which was 1.9 billion. Getrag serves all
the major automotive giants such as BMW, Audi,
Jiangling Motors, Ford, Volvo and Dongfeng.
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Global Adaptive Cruise Control (ACC) Market
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daptive-cruise-control-market/report-sample
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