Global Adaptive Cruise Control (ACC) Market Size, Share & Trends Analysis Report By Product Sales (OEMs (Original Equipment Manufacturers) and Aftermarket), By Type, By Component, By Vehicle Type, By Regional Outlook and Forecast, 2024 - 2031

Global Adaptive Cruise Control (ACC) Market Size, Share & Trends Analysis Report By Product Sales (OEMs (Original Equipment Manufacturers) and Aftermarket), By Type, By Component, By Vehicle Type, By Regional Outlook and Forecast, 2024 - 2031

The Global Adaptive Cruise Control (ACC) Market size is expected to reach $53.3 billion by 2031, rising at a market growth of 17.0% CAGR during the forecast period.

In 2023, the Asia Pacific region generated 45% revenue share in the ACC market. This dominance can be attributed to the rapid growth of the automotive industry in countries like China, Japan, and India, where there is a strong demand for advanced driver assistance systems. The increasing adoption of electric vehicles and the rising awareness of vehicle safety features have further fueled the growth of the ACC market in this region.

Consumers are increasingly aware of the importance of road safety, driven by rising statistics on road accidents and fatalities. Organizations such as the World Health Organization (WHO) and various national traffic safety authorities regularly publish data highlighting the need for improved vehicle safety systems, raising public consciousness about the benefits of advanced driver assistance systems (ADAS) like ACC. Thus, growing consumer demand for enhanced vehicle safety features drives the market's growth.

Additionally, Governments worldwide are increasingly implementing regulations that require vehicles to be equipped with advanced safety systems to reduce road accidents and enhance overall safety. For instance, the EU's General Safety Regulation mandates that all new cars sold in the EU must be equipped with advanced safety features, including ACC, from 2022 onwards. Therefore, stringent government regulations and safety standards propel the market's growth.

However, ACC systems use advanced sensors, cameras, radar, and lidar technologies to function effectively. These components, particularly radar and lidar systems, can be costly to manufacture and integrate into vehicles. Additionally, the software that processes the data from these sensors to maintain safe distances and adjust speed is complex and requires continuous development and refinement. In conclusion, the high cost of adaptive cruise control systems is hampering the market's growth.

Product Sales Outlook

Based on product sales, the adaptive cruise control (ACC) market is divided into OEMs (original equipment manufacturers) and aftermarket. The aftermarket segment attained 28% revenue share in this market in 2023. This segment caters to vehicle owners looking to retrofit their existing vehicles with ACC systems, driven to enhance safety and driving comfort in older models. Although it holds a smaller revenue share than the OEM segment, the aftermarket remains crucial, offering solutions for upgrading vehicles with the latest driver assistance technologies.

Type Outlook

On the basis of type, the adaptive cruise control (ACC) market is segmented into standalone ACC and integrated ACC. In 2023, the integrated ACC segment attained 33% revenue share in this market. Integrated ACC systems are part of a comprehensive suite of ADAS, combining multiple functions such as lane-keeping assistance, automatic emergency braking, and traffic jam assist. This integration enhances the overall driving experience by offering higher automation and safety.

Component Outlook

Based on component, the adaptive cruise control (ACC) market is categorized into radar sensors, LIDAR sensors, ultrasonic sensors, cameras, and others. The LIDAR sensors segment witnessed 23% revenue share in this market in 2023. LIDAR technology offers high-resolution and precise 3D mapping, making it valuable for ACC systems, especially in complex driving environments. Although more expensive than radar sensors, LIDAR technology's increasing advancements and decreasing costs drive its adoption in ACC systems, contributing to the segment's revenue share.

Vehicle Type Outlook

By vehicle type, the adaptive cruise control (ACC) market is divided into passenger car and commercial vehicle. The commercial vehicle segment procured 37% revenue share in this market in 2023. The need for improved safety and efficiency in long-haul and logistics operations primarily drives adopting ACC systems in commercial vehicles. Fleet operators and commercial vehicle manufacturers are increasingly integrating ACC technology to enhance driver comfort, reduce fatigue, and improve road safety.

Regional Outlook

Region-wise, the adaptive cruise control (ACC) market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region witnessed 26% revenue share in this market in 2023. The region's robust automotive market, characterized by a high penetration of advanced vehicle safety features, has contributed to substantial revenue generation. The increasing focus on enhancing vehicle safety and comfort, along with stringent government regulations promoting the adoption of advanced driver assistance systems, has driven the growth of the ACC market in North America.

The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.

Recent Strategies Deployed in the Market

• Jan-2024: Valeo and Teledyne FLIR have partnered to enhance automotive safety by integrating thermal imaging technology into advanced driver-assistance systems (ADAS). Their collaboration aims to improve night vision capabilities, particularly for automatic emergency braking, addressing the increasing need for safer road user protection.
• Dec-2023: Magna International, Inc. has partnered with Telia and Ericsson to join the NorthStar 5G innovation program, establishing a private 5G network at its test track in Sweden. This collaboration aims to enhance ADAS capabilities for vehicle-to-vehicle and vehicle-to-everything connectivity, significantly improving safety through low latency and high-speed data transmission.
• Sep-2023: Continental is expanding its aftermarket product offerings to include multifunctional camera modules and radar sensors for driver assistance systems, including Adaptive Cruise Control. This product expansion aims to enhance service capabilities for workshops and meet the increasing demand for advanced vehicle technologies.
• Sep-2023: Valeo SA and Mobileye announced a partnership to develop advanced imaging radars for next-generation driver assistance and automated driving features. This collaboration aims to enhance vehicle safety and performance, addressing the growing demand for sophisticated ADAS technologies in the automotive market.
• Jun-2022: Valeo and BMW have entered a major partnership to advance driving assistance systems (ADAS) for BMW's upcoming "Neue Klasse" platform, set to launch in 2025. Valeo will supply the ADAS domain controller, sensors, and software, boosting vehicle automation, maneuvering, and parking capabilities.

List of Key Companies Profiled

• Autoliv, Inc.
• Magna International, Inc.
• Robert Bosch GmbH
• Continental AG
• Denso Corporation
• Valeo SA
• Aptiv PLC
• ZF Friedrichshafen AG
• Tesla, Inc.
• Nidec Motor Corporation

Global Adaptive Cruise Control (ACC) Market Report Segmentation

By Product Sales

• OEMs (Original Equipment Manufacturers)
• Aftermarket

By Type

• Standalone ACC
• Integrated ACC

By Component

• Radar Sensors
• LIDAR Sensors
• Ultrasonic Sensors
• Cameras & Others

By Vehicle Type

• Passenger Car
• Commercial Vehicle

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA