Automotive Adaptive Cruise Control Market Size & Share, by Technology (Laser Sensors, Image Sensors, Infrared Sensors, Radar Sensors, Ultrasonic Sensors); Vehicle Type (Passenger Vehicles, Commercial Vehicles) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 4600
  • Published Date: Feb 24, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2033

Automotive Adaptive Cruise Control Market size is expected to reach USD 59 Billion by the end of 2033, witnessing around 6% CAGR during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of automotive adaptive cruise control was USD 32 Billion. 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.

 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.


Automotive-Adaptive-Cruise-Control-Market-overview
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Automotive Adaptive Cruise Control Sector: 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

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

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
 
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Automotive Adaptive Cruise Control Segmentation

Vehicle Type (Passenger Vehicles, Commercial Vehicles)

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.

Technology (Laser Sensors, Image Sensors, Infrared Sensors, Radar Sensors, Ultrasonic Sensors)

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 market includes the following segments:

            By Technology

  • Laser Sensors
  • Image Sensors
  • Infrared Sensors
  • Radar Sensors
  • Ultrasonic Sensors

              By Vehicle Type

  • Passenger Vehicles
  • Commercial Vehicles

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Automotive Adaptive Cruise Control Industry - 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.

Research Nester
Automotive-Adaptive-Cruise-Control-Market-Regional
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Companies Dominating the Automotive Adaptive Cruise Control Landscape

top-features-companies
    • 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.

In-the-news

In The News

  •  Denso Corporation developed Global Safety Package 3*1. It is an active safety system that is designed to improve the safety of vehicles by providing them with high sensing capability of their surroundings.

  •  Hyundai Motor Company developed a machine learning based on Smart Cruise Control technology that creates a customized self-driving experience by recognizing and analyzing driving patterns to apply to Smart Cruise Control.

Author Credits:  Harshita Srivastava, Saima Khursheed


  • Report ID: 4600
  • Published Date: Feb 24, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing incidences of road crashes as well as the rising number of vehicles along with an upsurge in the demand for autonomous cars with sensor technologies are some of the major factors anticipated to drive the growth of the market.

The market is anticipated to attain a CAGR of 6% over the forecast period, i.e., 2023-2033.

High expenditure requirement for customization & installations as well as complex in-built functions of ACC are some of the factors estimated to hamper the market growth.

The market in Asia Pacific is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are Denso Corporation, Hyundai Motor Company, ZF Friedrichshafen AG, Magna International Inc., Aptiv Global Operations Limited, and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by technology, vehicle type, and by region.

The passenger vehicles segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Automotive Adaptive Cruise Control Market Report Scope
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