Adaptive Cruise Control (ACC) Market Assessment, By Technology (LIDAR, Laser, RADAR, Ultrasonic and Image Sensors), Component (LIN, CAN, ECU, MCU and Wireless Harness), Vehicle Type (Passenger Car, Light Commercial Vehicle and Medium and Heavy Commercial

Adaptive Cruise Control (ACC) Market Assessment, By Technology (LIDAR, Laser, RADAR, Ultrasonic and Image Sensors), Component (LIN, CAN, ECU, MCU and Wireless Harness), Vehicle Type (Passenger Car, Light Commercial Vehicle and Medium and Heavy Commercial Vehicle), End-use (OEM, Aftermarket), Mode of Operation (Normal Adaptive Cruise Control System, Connected Adaptive Cruise Control System), By Region, Opportunities and Forecast, 2017-2031F

Global adaptive cruise control market is projected to witness a CAGR of 10.39% during the forecast period 2024-2031, growing from USD 12.93 billion in 2023 to USD 28.51 billion in 2031. The market has experienced significant growth in recent years and is expected to maintain a strong pace of expansion in the coming years.

Adaptive cruise control system is a unique driver assistance system that helps to maintain a safe distance from another vehicle. The vehicle's speed is automatically adjusted by the adaptive cruise control system to maintain a safe distance from approaching vehicles. The adaptive cruise control technology found in automobiles is called intelligent technology. LIDAR, laser, RADAR, ultrasonic, and image sensors are some technologies utilized in the automotive adaptive cruise control system.

Automotive adaptive cruise control technology is seeing an increase in demand due to increasing purchase for luxury vehicles and efficient passenger safety mechanisms. The automotive adaptive cruise control market will continue to benefit from lucrative growth opportunities due to ongoing technological advancements in advanced cruise control systems. In addition, rising population and personal disposable income will indirectly encourage market growth.

For instance, in 2023, Volkswagen has unveiled its compact SUV ""T-Cross"" which comes with adaptive cruise control technology.

Self-Driving Vehicle Adaptive Cruise Control System Adoption Boosting the Market Development

An automobile adaptive cruise control system is a crucial component of a driverless system that provides automatic braking and acceleration. Self-driving vehicles automatically adjust steering, braking, and throttle control in response to driver inputs. Set algorithms in auto adaptive cruise control systems use RADAR, LIDAR, and image sensors to control self-driving vehicles. As a result, the dynamics of the automotive adaptive cruise control market are being influenced by the growing use of self-driving vehicle adaptive cruise control systems.

For instance, in 2023, Ford launched its BlueCruise technology, which is adaptive cruise control, for its Mustang Mach-E models.

Automotive Adaptive Cruise Control Industry Growth Boosted by Stringent Road Safety Regulations

Due to the rise in traffic, road safety is one of the most pressing issues worldwide. Adaptive cruise control systems are in high demand because of increased traffic accidents caused by speeding and other violations of traffic laws. The vehicle's adaptive cruise control aids in adjusting the speed to the conditions of the road. Governments have enacted stringent regulations regarding speed limits and overtaking to prevent automobile collisions on highways. As a result, the growth of automotive adaptive cruise control market is being aided by the implementation of stringent regulations for road safety.

For instance, in January 2020, Luminar introduced perception engineering, which is advanced LiDAR technology for autos, to improve vehicle safety. It has a range of up to 250 meters for detecting and classifying things in real time.

Automation and Sensor Technology Advancements

The accuracy and dependability of ACC systems have been significantly enhanced by advancements in radar, LiDAR (Light Detection and Ranging), and camera technologies. The system can detect and respond to the movement of vehicles ahead because these sensors provide real-time data about the vehicle's surroundings. For instance, in January 2020, at the Consumer Electronics Show, Bosch introduced its long-range LiDAR for vehicles. This technology contains long- and short-range radars, so it is appropriate for use in city centers and on highways.

The UN General Assembly set the goal of reducing road traffic accident-related deaths and injuries globally by 50% by 2030. The demand for ACC systems rises due to the increased focus on lowering the number of traffic accidents and enhancing driver safety. ACC systems help maintain a safe distance from the car in front of you and lower the chance of rear-end collisions.

Demand from Customers for Convenience and Comfort

Customers are increasingly looking for cars with innovative driver assistance features that make driving more convenient and comfortable. When traveling on long highway trips, ACC technology provides a more comfortable driving environment. The ACC system can handle speed adjustments while maintaining safe distances from other vehicles due to drivers' ability to set a desired speed.

In December 2023, Suzuki Motors launched Jimny XL, a 5-door version of Jimny in Australia. The Jimny XL boasts notable improvements over the India-spec model, such as the incorporation of Advanced Driver Assistance Systems including additional features of adaptive cruise control, lane departure warning, autonomous emergency braking, and a twin-camera brake support system.

Asia-Pacific Leads in the Global Adaptive Cruise Control Market Share

Based on region, Asia-Pacific leads the market with higher EV adoption, increased per capita income, and expanding manufacturing spaces in emerging economies. The low-cost raw material supply and the widespread manufacture of adaptive cruise control technology are propelling the market expansion.

Significant advancements in automotive technology, such as radar, artificial intelligence, and sensors, have been made in the region. Both, automakers and tech firms are creating more advanced adaptive cruise control systems. In addition, the rising number of fatalities in road accidents has raised safety concerns about vehicle security dynamics.

For instance, in January 2024, Kia Motors launched Sonet 2024 with 10 ADAS features. These features include Front Collision Warning (FCW), Front Collision Avoidance Assist-Cycle (FCA-cyclist), Lane Keep Assist (LKA), Lane Departure Warning (LDW), etc.

Future Market Scenario (2024 – 2031F)

As automakers look to offer more semi-autonomous features, ACC is becoming increasingly available as an option in new vehicles.

ACC systems' performance is improving due to advancements in artificial intelligence (AI) and sensor technology.

By automatically braking, ACC can aid in accident prevention when a vehicle ahead slows or stops.

By taking over the responsibility of following a vehicle ahead, ACC can assist in reducing driver fatigue.

Key Players Landscape and Outlook

Continuous innovation characterizes this landscape as these companies compete to outperform one another regarding GPU performance, energy efficiency, and unique features. The market prognosis remains positive, owing to increased demand for high-quality gaming, AI, and professional workloads. Graphics card manufacturers are concerned with supply chain resilience, energy efficiency, and environmental practices, which will likely define the industry's future. Collaborations and developing technologies are projected to increase competition in this fast-paced market.

In June 2022, SAIC Maxus Automotive Co., Ltd., unveiled its first full-size premium intelligent battery electric MPV, MIFA 9. It is equipped with features, such as Adaptive Cruise Control (ACC) and lane departure warning (LDW). Some models have a 360-degree panoramic image system as well as a Blind Spot Detection (BSD) system integrated.

In February 2022, Robert Bosch GmbH announced to make ADAS systems more affordable to be democratized and added to mass-market vehicles in India. The automobile can be equipped with ADAS systems and autonomous level II capabilities.