Automotive Adaptive Cruise Control (ACC) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Automotive Adaptive Cruise Control (ACC) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Automotive Advanced Driver Assistance System Market

The automotive advanced driver assistance system market size was valued at USD 37.31 billion in 2021, and the market is now projected to grow from USD 43.62 billion in 202 to USD 124.31 billion by 2029, exhibiting a CAGR of 16.1% during the forecast period of 2021-2028.

The disruptions of the supply chain and the stoppage on automobile production had hampered the market expansion. The imposition of lockdown measures affected the manufacturing workforce. The manufacturing units and its related activities could not continue their operations. Although companies trying to develop completely independent driving systems have to rely on remote operators, backup drivers, and other human employees have faced the challenges for progression. Thus, the COVID-19 pandemic has hindered the automotive advanced driver assistance system market growth.

The automotive advanced driver assistance system market share globally has been supported due to the severe government regulations and rising consumer demand regarding passenger safety. Increasing road accidents lead to traffic congestion and accidental deaths are encouraging adoption of the system. Moreover, governments are investing huge money for the adoption of highly developed safety technologies and encouraging people to use automated cars. Furthermore, manufacturers are required to fulfill the regulations and obtain safety ratings from various organizations to access the authorization of the means of transportation.

The trend is improving automotive Human-Machine Interface (HMI) design is propelling the market growth. Due to increasing consumer inclination towards self-directed operating cars is impelling the market development. Improved vision method, better touchscreen technology, and connectivity infrastructure help out ensure an easier interface with the driver and traveler when the car is positioned. The improvement in HMI vehicular systems appears to be attracting customers to enhance their driving experience.

Comprehensive Analysis of Automotive Advanced Driver Assistance System Market

The automotive advanced driver assistance system market and automotives industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a complete regional evaluation considering the dominant supply and demand forces that impact the automotives industry. These segmentations are methodically segregated by system type, component type, and vehicle. Autonomous emergency braking, e-call system, tire pressure monitoring, intelligent headlights, park assist, blind spot detection, adaptive cruise control, Lane departure, forward collision, and forward collision warning are types of systems. Similarly, the component types involve radar, camera, LiDAR, and sensors. Passenger cars, light commercial and heavy commercial vehicles come under types of vehicles.

The Asia Pacific region is conducive to the global automotive advanced driver assistance system market, leading to a recall of USD 16.35 billion because of the high sales and making of automobiles.

The top players in the market play a vital role in the automotives industry assuring industrial prospectus growth and setting market values. These players are Valeo SA (France), Aptiv PLC (Ireland), Robert Bosch GmbH (Germany), Magna International Inc.(Canada), ZF Friedrichshafen AG (Germany), DENSO CORPORATION (Japan), GENTEX CORPORATION (U.S.), Aisin Seiki Co. Ltd (Japan), Continental AG (Germany), Autoliv Inc. (Sweden), Panasonic Corporation (Japan), Harman International (U.S.), Hyundai Mobis (South Korea), Renesas Electronics Corporation (Japan), and Mobileye (Israel), these market players present a level-playing competitive landscape.

In July 2021, Valeo collaborated with BMW Group to provide ADAS domain controller, sensors and software which will facilitate parking and maneuvering to BMW’s next- generation EVs.

Segmentation Table

Global Automotive Advanced Driver Assistance System Market Scope

ATTRIBUTE DETAILS

Study Period 2018-2029

Base Year 2021

Estimated Year 2022

Forecast Period 2022-2029

Historical Period 2018-2020

Unit Value (USD billion) & Volume (Thousand units)

Segmentation By System Type

Adaptive Cruise Control

Park Assist

Lane Departure Warning System

Autonomous Emergency Braking

Forward Collision Warning

E-Call System

Others

By Component Type

LiDAR

Radar

Camera

Sensor

By Vehicle Type

Passenger Cars

Light Commercial Vehicles (LCV)

Heavy Commercial Vehicles (HCV)

By Geography

North America (By System Type, By Component Type, By Vehicle Type)

U.S. (By Vehicle Type)

Canada (By Vehicle Type)

Mexico (By Vehicle Type)

Europe (By System Type, By Component Type, By Vehicle Type)

U.K. (By Vehicle Type)

Germany (By Vehicle Type)

France (By Vehicle Type)

Rest of Europe (By Vehicle Type)

Asia Pacific (By System Type, By Component Type, By Vehicle Type)

China (By Vehicle Type)

India (By Vehicle Type)

Japan (By Vehicle Type)

South Korea (By Vehicle Type)

Rest of Asia Pacific (By Vehicle Type)

Rest of the World (By System Type, By Component Type, By Vehicle Type)

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