Global Automotive Adaptive Cruise Control Market Definition
Adaptive cruise control (ACC) which is also known as dynamic cruise control is an available cruise control advanced driver-assistance system that adjusts a vehicle’s speed automatically. It is designed to help vehicles to stay within the speed limit and maintain a safe following distance. ACC technology is a crucial component of future-generation intelligent cars as it enhances passenger safety and convenience. The ACC works independently to control the brakes and speed of the moving vehicle. The technology also increases road capacity by reducing driver errors and maintaining optimal separation between vehicles.
The ACC in automobiles works with the help of sensors that accelerate and decelerates the speed of the cars. The sensory radar detects the distance of the vehicle from near objects or other vehicles and maintains a safe distance. ACC is one of the key features of intelligent or autonomous cars today. This is not a fully automatic level of control, as it just supervises and supports the driver while driving. Moreover, many sensors are installed in order to improve the safety and satisfaction of the consumers.
The main motto is to avoid collisions and detect pedestrians, objects, and other automobiles surrounding the vehicle. Automatic brake application is another advantage of cruise control in autonomous vehicles to avoid accidents. The ACC helps to maintain safety in the advanced driver assistance system that is used in intelligent automobiles.
Global Automotive Adaptive Cruise Control Market: Key Insights
|
Base Year |
2022 |
|
Forecast Year |
2023-2033 |
|
CAGR |
~6% |
|
Base Year Market Size (2022) |
~ USD 32 Billion |
|
Forecast Year Market Size (2033) |
~ USD 59 Billion |
|
Regional Scope |
|
Global Automotive Adaptive Cruise Control Market Size, Forecast, and Trend Highlights Over 2023 - 2033
The global automotive adaptive cruise control market is estimated to garner a revenue of USD 59 Billion by the end of 2033 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 32 Billion in the year 2022. The growth of the market can primarily be attributed to the increasing use of sensory technology across the world among vehicle manufacturers to ensure the safety of vehicles. Moreover, senor technology in the automotive sector is growing widely as these sensors help to prevent accidents and increase driver safety. The sensors are used in tires, and rear-view visibility systems to reduce traffic congestion and increase customer satisfaction. It also aids in maintaining and monitoring vehicle efficiency and functioning. The increasing growth of intelligent vehicle manufacturing increases the demand for sensors in vehicles. Therefore, it is anticipated to drive the global automotive adaptive cruise control market. It was found that more than 9.6 billion automotive sensors were sold globally in 2021.
Get more information on this report:Download Sample PDF
ACC functions by sensory technology and use a radar or laser sensor or a camera setup which allow the car to detect and warn the driver about potential forward collisions. The growing number of vehicles and surge in road crash incidences are responsible for the demand of advance pre-crash as well as braking systems. Road accidents are one of the major causes of death across the world. In 2022, over 20,180 people are dead in bike accidents increasing from the base of 20,000 in 2021 in the U.S. Even though there are many reasons for road accidents, some of the major accidents that are preventable include speed monitoring, wearing a seatbelt, rear view visibility, proper maintenance of vehicles, and good car brakes. To monitor these, sensors are installed in vehicles nowadays which indicate or send signals to the owners. About 80 sensors are installed in a car to inspect tire pressure, seatbelt, and the speed limit. This will help prevent some accidents that are caused by one’s own negligence while driving. This adoption of artificial intelligence is projected to rise market growth in the coming years.
Global Automotive Adaptive Cruise Control Market: Growth Drivers and Challenges
Growth Drivers
- Growing Penetration of Autonomous Cars with Growing Adoption of Self Driven Cars – in which ACC functions are installed within vehicles such as cameras, radar, and laser equipment, that sense how close one car is to another, or any other object on the roadway. ACC is the basis for future smart car intelligence, and the surge in the demand for smart vehicles is expected to boost the automotive adaptive cruise control market in the forecasted period. For instance, in 2022, China have over 55% of all smart vehicles in the world with different levels of automation.​​​​​​​ ​​​​​​​​​​​​​​​​​​​​​
- Rising Concern About Increasing Road Incidences that Cause Major Injuries and Deaths - according to the World Health Organization’s 2022 statistics, road crashes are responsible for more than 1 million deaths worldwide every year.
-
Increasing Number of Vehicles Production with Increasing Demand Among People for Personal Vehicles – which reached nearly 80 million motor vehicles worldwide in 2021.
-
Rising Demand for Premium and Luxury Cars Owing to Increasing Disposable Income and Economic Growth of the Countries – for instance, in 2021, luxury car retails in India exhibited an upward trend and rose by ~19% compared to 2020.
-
Upsurge in the Sale of Light Vehicles as Fuel Prices Rise Across the World – which is expected to grow by ~5% year-on-year by 2023 around the globe.
Challenges
- Reluctance in the Implementation of ACC in Regions with Extreme Weather - ACC is inefficient in regions that have a higher intensity of fog, rainfall, and snowfalls. The installation and programming of radar systems in extreme weather regions result in higher costs, increasing the overall cost of vehicles.
- High Expenditure Requirement for Customization & Installations
- Complex In-built Functions of Sensors
Market Segmentation
The global automotive adaptive cruise control market is segmented and analyzed for demand and supply by vehicle type into passenger vehicles and commercial vehicles. Amongst these segments, the passenger vehicles segment is anticipated to garner the largest revenue by the end of 2033, backed by the growing demand for electric passenger cars worldwide, which use an actuator to control the throttle and help electric cars to continue cruising at the same speed. It was found that the number of battery-only electric passenger cars exceeded 1 million for the first time in the European Union in the year 2020. Unlike heavy-duty vehicles, passenger vehicles are used by people to travel. Therefore, safety is the first priority of these vehicles. The use of ACC in passenger vehicles improves safety and reduces the risk of danger. There are many sensors in the passenger cars, such as airflow, smoke, throttle position, oxygen, engine speed, temperature, parking sensors, and many more, that help for the proper functioning of ACC. All these sensors manage the condition of the air or vehicle to function properly.
The global automotive adaptive cruise control market is also segmented and analyzed for demand and supply by technology into the laser, image, infrared, radar, and ultrasonic sensors. Amongst these segments, the radar sensor segment is expected to garner a significant share. These are used to avoid collisions, pedestrian and cyclist detection, and vision-based camera sensing functions. The radar sensors use radio frequencies to identify vehicles or objects that are near the vehicle. Radar sensors are a major part of the advanced driver assistance systems in vehicles. They help to detect traffic, seating position, motor control, comfort features, remind seatbelts, locate the vehicles and objects, and control emergency braking in an automotive vehicle. The radar sensor is mainly applied to reduce accidents and collision risks in automated vehicles. As per the estimations, in 2021, over 5,700,130 radar apparatuses are imported across the world increasing from 4,900,240 in the year 2020.
Our in-depth analysis of the global automotive adaptive cruise control market includes the following segments:
|
By Technology |
|
|
By Vehicle Type |
|
Global Automotive Adaptive Cruise Control Market Regional Synopsis
The Asia Pacific automotive adaptive cruise control market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed to the presence of giant automobile manufacturers in the region, a growing number of intelligent vehicles which are enabled with high-end technologies, as well as the rising awareness among automobile users about the efficient features of ACC. For instance, the penetration rate of intelligent vehicles in China has reached over 25% in 2022. Many trials are being conducted to increase the number of autonomous vehicles on Asian roads. Also, the government planned to encourage the use of automated vehicles in some regions. The economic growth of many developing countries is also estimated to drive market growth in the region. Thereby many middle-class families purchase private vehicles with rising disposable income. The increasing adoption of digitalization and advancements in automobiles among people owing to internet penetration and increasing accessibility to automation technology is further projected to boost the market’s growth in the region.
Top Featured Companies Dominating the Global Automotive Adaptive Cruise Control Market
-
Denso Corporation
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Hyundai Motor Company
- ZF Friedrichshafen AG
- Magna International Inc.
- Robert Bosch GmBH
- Aptiv Global Operations Limited
- Continental AG
- HL Mando Co., Ltd.
- Valeo
- Autoliv Inc.
