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Adaptive Cruise Control Market PR .pdf



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Adaptive Cruise Control Market Size to cross $15.0 Billion by 2023
The adaptive cruise control market to grow at a CAGR of 18.3%
between 2017-2023
Adaptive cruise control market is set to cross $15.0 billion by 2023, growing at a CAGR of 18.3% between
2017-2023. The rapidly growing automotive industry especially in emerging economies of India, China,
Brazil is generating significant demand for vehicle fitted with adaptive cruise control. Increasing number
of road accident and awareness to safety systems is also driving the market. Vehicle safety regulations
and initiatives by various associations and trade unions are backing the increasing installations of
adaptive cruise control (ACC) systems in vehicles. Governments and associations across the globe have
been increasingly formulating multi-dimensional policies toward vehicle and passenger safety,
increasing fuel efficiency and improving overall performance of the vehicle.
Insights on market segments
As per the findings of research, the global adaptive cruise control market has been segmented into
technology, application, end-use and region. In 2016, radar segment accounted for the largest share in
global adaptive cruise control industry and garnered 33.7% share in the global market. On the other
hand, lidar segment is expected to witness the fastest growth in the market. The major factors driving
the growth of the radar and lidar is increasing adoption of adaptive cruise control system in passenger
car and commercial vehicles. Passenger cars is the dominating segment in the adaptive cruise control
market.
North America and Europe to contribute over 65% to the global adaptive cruise control market
North America and Europe collectively accounted for more than 65% in the global adaptive cruise
control market in 2016. The regions are expected to dominate the global market during the forecast
period. The major factor attributing to the growth is the increase in vehicle production, stringent safety
norms towards vehicle safety and technological advancement. The United States New Car Assessment
Program (US NCAP) by National Highway Traffic Safety Administration (NHTSA) has helped in focusing on
increased consumer concerns resulting in more number of people installing such systems. In addition,
development of safety features in vehicles will lead to improvement in the rating system, which will in
turn lead to a positive change in the market. Adaptive cruise control system can be seen in a wide array
of cars. Audi, BMW, Chevrolet, Dodge, Ford, Honda, Hyundai, Land Rover, Lexus, Mercedes-Benz,
Nissan, Porsche, Subaru, Toyota, and Volvo are some of the well-known brands that offer adaptive
cruise control system as standard or optional equipment in some of their cars.
Competitive Landscape
The adaptive cruise control market is majorly dominated by Tier 1 players having presence across the
globe. Some of the major players include Autoliv Inc., Continental AG, Denso Corporation, Delphi
Automotive PLC, Robert Bosch GmbH, Valeo SA, Hyundai Mobis, ZF Friedrichshafen AG and Magna
International Inc.
GLOBAL ADAPTIVE CRUISE CONTROL MARKET SEGMENTATION
By Technology



Radar



Lidar



Laser



Ultrasonic

By Application


Passenger car



Commercial vehicle

By End-Use


Original equipment manufacturers



Aftermarket

Geographical Segmentation








North America
o

U.S.

o

Canada

o

Mexico

o

Rest of North America

Europe
o

Germany

o

U.K.

o

France

o

Russia

o

Rest of Europe

Asia-Pacific
o

China

o

Japan

o

India

o

Rest of Asia-Pacific

Rest of the World
o

Brazil

o

Chile

o

Rest of RoW


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