Stratistics MRC’s Global Automotive Adaptive Cruise Control (ACC) Market value is expected to reach $74.8 billion growing at a CAGR of 11.7% during 2023-2030.
Road cars can use adaptive cruise control (ACC) to keep a safe following distance and travel at the posted speed limit. In order to save drivers time, this device automatically changes a car’s speed. ACC uses in-vehicle sensing technology, such as cameras, lasers, and radar equipment, to estimate how near one automobile is to another or to other roadside objects. Multiple advantages of adaptive cruise control systems include reduced accident risks due to speed regulation and more room, less tension while driving for drivers, improved driving comfort, especially for people with impairments, commutes that are simpler, especially for systems with stop-and-go capabilities which propel the growth of the market.
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Europe is projected to have the highest CAGR over the forecast period, owing to supporting programmes like EuroNCAP, which makes it simple to integrate safety measures into automobiles. Nearly a third of the German car industry’s total revenue is allocated to the development of safety measures. Germany is anticipated to have the greatest market share in the area throughout the projected period thanks to its highly developed infrastructure. The market is also anticipated to increase as a result of significant regional players and rising consumer awareness of car safety.
Some of the key players profiled in the Automotive Adaptive Cruise Control (ACC) Market include Continental AG, Robert Bosch GmbH, Mando Corporation, Luminar Technologies, Inc, Velodyne Lidar, Inc., ZF Friedrichafen AG, Denso, Magna International, Valeo, Nxp Semiconductors, Autoliv, Inc., Delphi Technologies PLC, Bendix Commercial Vehicle Systems LLC, WABCO Vehicle Control Services, Mobileye, HYUNDAI MOBIS, Hitachi, Ltd, HELLA GmbH & Co, BorgWarner Inc and Mercedes-Benz.
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Key Developments:
In May 2023, Subaru’s first-ever electric vehicle, namely The Solterra 2023. The company offers Dynamic Radar Cruise Control, which reduces driver stress levels by assisting with steering, braking, and throttle control in everyday traffic conditions and long-distance vehicle travel.
In February 2023, Mercedes-Benz announced that it will equip its wide range of vehicles with Luminar LiDAR by the second half of 2023. The laser sensor will help power the German automaker’s next-generation driver assistance system, enabling hands-free driverless driving on certain highways.
What our report offers:
– Market share assessments for the regional and country-level segments
– Strategic recommendations for the new entrants
– Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
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– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financials, and recent developments
– Supply chain trends mapping the latest technological advancements
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