Automotive Adaptive Cruise Control (ACC) Market Forecasts to 2030 – Global Analysis By Vehicle Type (Commercial vehicle, Passenger vehicle, Electric vehicle and Other Vehicle Type), Component (Light Detection & Ranging (LiDAR), Radio Detection & Ranging (

Automotive Adaptive Cruise Control (ACC) Market Forecasts to 2030 – Global Analysis By Vehicle Type (Commercial vehicle, Passenger vehicle, Electric vehicle and Other Vehicle Type), Component (Light Detection & Ranging (LiDAR), Radio Detection & Ranging (RADAR) and Other Components), Technology (Local Interconnect Network (LIN), Controller Area Network (CAN) and Other Technologies), Sales Channel (Original Equipment Manufacturers (OEMs) and Aftermarket ) and By GeographyAccording to Stratistics MRC, the Global Automotive Adaptive Cruise Control (ACC) Market is accounted for $34.5 billion in 2023 and is expected to reach $74.8 billion by 2030 growing at a CAGR of 11.7% during the forecast period. 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.

According to the World Health Organization, nearly 1.35 million people die annually, due to road accidents. The cause of these accidents is mostly attributed to the driver’s inability to judge certain conditions and make the right decisions. The efforts of governments to reduce fatalities due to road accidents have led to increased installation of safety systems in new vehicles.

Market Dynamics:

Driver:

Increasing focus on comfort and safety in vehicles

The key reason propelling the expansion of the automotive adaptive cruise control market is the elevated importance placed on vehicle comfort and safety. ACC systems are designed to improve vehicle safety by reducing the possibility of collisions brought on by human error. They also enhance driving comfort by reducing strain and fatigue. Automakers are gradually making ACC systems standard equipment in their vehicles to meet the rising demand for safer and more comfortable driving experiences. Additionally, there will certainly be a rise in demand for ACC systems due to the popularity of ride- and car-sharing services. These services require cars with cutting-edge safety and convenience features, including ACC, in order to guarantee safe and comfortable travel for consumers, thus enhancing the growth of the market.

Restraint:

Adversity of the weather

During the projected period, regions experiencing severe weather, such as fog, snowfall, and rain, are anticipated to restrain market growth. Extreme conditions reduce the effectiveness of adaptive cruise control. The price of the system is increased by installing these systems and setting the radar system for various locations and severe weather conditions. The high-end sensors produced by each manufacturer are quite competitive when compared to those of their rivals, making it challenging for automobile owners to comprehend their precise function.

Opportunity:

The use of autonomous and semi-autonomous vehicles is on the rise

Autonomous and semi-autonomous vehicles have recently become popular in the automobile industry, because it contains capabilities like hands-free driving, the ACC system has a significant role to play in autonomous and semi-autonomous vehicles. Increases in the number of automobiles and personal income are direct results of industrialization. In developed economies, citizens now enjoy higher living conditions. Luxury automobile sales and manufacture have increased as a result of this. Due to ACC's widespread installation in premium vehicles, demand for the product has increased at the same time. In response to consumer demand, several manufacturers have implemented ACC systems in their vehicles.

Threat:

Drivers' awareness and readiness

It takes a lot of mental effort to drive. It necessitates maintaining attention on the road and the actions of other cars. This entails controlling your speed and distance when accelerating and braking, being mindful of vehicle's size and power, and maintaining a constant forward motion. When utilise cruise control, are no longer providing driving whole physical and mental attention. One might not even need to continually steer while using cruise control on straight sections of road. That might raise chance of daydreaming, becoming sidetracked, or experiencing highway hypnosis, all of which could impair ability to move swiftly in the case of a probable collision scenario including an animal darting onto the road, coming into contact with road debris, etc. which hampers the growth of the market.

Covid-19 Impact

Globally, the automobile sector has been badly damaged by the COVID-19 epidemic. In the second half of 2020, auto sales drastically decreased as a result of the pandemic and stringent social segregation laws. Strict social segregation laws and widespread lockdowns have led to the total shutdown of a number of OEM production facilities, blocking the flow of raw materials and having an indirect or direct impact on thousands of dependent workers and the industry. Lockdowns, unemployment, and salary reductions have dramatically decreased the necessity for cars. As a result, consumers' spending power and the global demand for luxury automobiles have both drastically decreased.

The passenger car segment is expected to be the largest during the forecast period

The passenger car segment is estimated to have a lucrative growth, due to the rise of the passenger automobile industry strict government laws requiring vehicles to be equipped with driver aid technologies that increase vehicle safety. One of the most important reasons in preserving the dominance of the passenger car industry is rising global vehicle manufacturing. Adaptive cruise control systems are becoming more affordable and user-friendly in all car types because to large R&D expenditures and ongoing technology advancements by automakers thereby encouraging the market growth.

The radio detection & ranging (RADAR) segment is expected to have the highest CAGR during the forecast period

The radio detection & ranging (RADAR) segment is anticipated to witness the highest CAGR growth during the forecast period due to the demand for these technologies is being driven by rising concerns about the safety of car passengers. Numerous countries have established strict guidelines on automakers mandating the use of RADAR technology to improve car safety. Most blind spot detection applications employ medium and short-range radars. The vehicle's back end can have obstructions detected by the RADARs. Additionally, long-range RADARs are employed in applications for automated emergency braking and adaptive cruise control making it efficient to handle.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the low-cost availability of raw materials and the widespread manufacture of adaptive cruise control technology. With regard to sensors, radar, and artificial intelligence, the area has achieved major strides in the field of automobile technology. Technology firms and automakers are collaborating to create better adaptive cruise control systems. The presence of quickly industrialising nations like Japan and South Korea as well as the region's strict automotive safety laws have had a significant impact on the market for driver assistance systems.

Region with highest CAGR:

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.

Key players in the market

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

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.

Vehicle Types Covered:
• Commercial vehicle
• Passenger vehicle
• Electric vehicle
• Other Vehicle Types

Components Covered:
• Light Detection & Ranging (LiDAR)
• Radio Detection & Ranging (RADAR)
• Camera Unit
• Ultrasonic Sensor
• Image sensors
• Infrared Sensor
• Other Components

Technologies Covered:
• Local Interconnect Network (LIN)
• Controller Area Network (CAN)
• Electronic Control Unit (ECU)
• Microcontroller Unit (MCU)
• Other Technologies

Sales Channels Covered:
• Original Equipment Manufacturers (OEMs)
• Aftermarket

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

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
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements