The global automotive ACC system market system is anticipated to grow at a CAGR of 14.0% during the forecast period (2022-2028). Adaptive cruise control (ACC) is an active safety system that automatically controls the acceleration and braking of a vehicle. It is activated through a button on the steering wheel and canceled by the driver’s braking and or another button. In traditional cruise control, the driver set the maximum speed and the cruise control was used to maintain the speed irrespective of vehicles ahead. Owing to this the driver have to be alert of the vehicles ahead and apply brakes manually. Therefore, in automotive adaptive cruise control, the driver sets the maximum speed limit and the car accelerates and decelerates automatically based on the around vehicles. This function works with the support of electronic sensors. The radar sensors detect the vehicles around and adapt to the speed accordingly.
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With the new technology and innovations in driving has been eased on highways as well as in traffic conditions. The rise in adoption of adaptive cruise control by auto manufacturers and high investment in R&D are the driving factors for the growth of the global automotive ACC system market. Adaptive cruise control keeps the driver relaxed as it has the ability to drive at a constant speed without keeping a foot on the pedal and also mainly due to ACC as the car runs at a constant speed, which in turn, improves the fuel efficiency. These are some crucial factors boosting the growth of the market. However, the failure of sensors in adaptive cruise control systems is a restraining factor for the growth of the market.
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Some major players in the market include Aptiv plc, Continental AG, and Robert Bosch GmbH, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in January 2020, Robert Bosch GmbH launched long-range LiDAR for vehicles at a consumer electronics show. This sensor is suitable to use both in city centers and on motorways as this technology includes both long-run and short-ranger radars. Additionally, in January 2020, Luminar launched perception engineering which is advanced LiDAR technology for automobiles in order to enhance the safety of the vehicles. It has the capability to detect and classify objects in real-time which is up to 250 meters.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Component Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Aptiv plc, Continental AG, and Robert Bosch GmbH, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Automotive ACC System Market Report by Segment
By Component Type
- LiDAR
- RADAR
- Sensor Fusion
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
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