Adaptive Cruise Control (ACC) Market to Reach $48.31 Billion by 2026; Rising Usage of Self-driving Vehicles to Aid Growth: Fortune Business Insights™

(The Express Wire via Comtex)

The global “adaptive cruise control” market is likely to gain impetus from the increasing adoption of autonomous or self-driving vehicles worldwide. These vehicles are highly dependent on software algorithms, cameras, radars, sensors, and other similar innovative driving systems. Fortune Business Insights™ published this information in its latest report, titled, “Automotive Adaptive Cruise Control Market Size, Share and Industry Analysis, By Component Type (LiDAR, RADAR, Others) By Vehicle Type (Passenger Cars, Commercial Vehicles), and Regional Forecast, 2019-2026.” The report further states that the adaptive cruise control market size was USD 29.48 billion in 2018 and is projected to reach USD 48.31 billion by 2026, exhibiting a CAGR of 6.5% during the forecast period.

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This Report Answers the Following Questions:

  • What are the trends, opportunities, and challenges that the market may come across in the near future?
  • What are the vital growth drivers and hindrances?
  • How will the market be affected in the future by changing consumer behaviour?
  • Which segment would lead by generating the largest share in the market?

Drivers and Restraints-

Rising Need to Curb Road Accidents will Augment Growth

The governments of various countries across the globe are gradually coming up with state-of-the-art strategies to control the increasing number of road accidents across the globe. Thus, several regulatory bodies are implementing strict norms and regulations on the automotive manufacturers to improve the safety features of the vehicles. Apart from that, numerous transportation unions and associations have implemented safety guidelines to install adaptive cruise control systems in vehicles. Prominent companies are also investing hefty amount of money in research and development activities to manufacture adaptive cruise control systems and long range RADAR for adjusting the speed of the vehicle as per its surrounding traffic. However, installation of such systems in vehicles located in areas with extreme weather conditions is difficult. It may hamper the market growth.

Quick Buy Adaptive Cruise Control

Segment-

RADAR Segment to Dominate Owing to Rising Demand for Safety of Occupants

Based on component type, the market is categorized into RADAR, LiDAR, and others. Out of these, the RADAR segment held 52.8% adaptive cruise control market share in 2018. The segment is expected to lead the market throughout the forecast period. This growth is attributable to the imposition of stringent rules by the governments of various countries on the automotive manufacturers to install this technology in the vehicles to enhance safety. Also, the rising demand for safety of the driver, as well as passengers of the vehicle is set to accelerate the growth of this segment in the coming years.

Regional Analysis-

Availability of Cost-effective ACC Systems to Favor Growth in Asia Pacific

Geographically, the market is fragmented into Asia Pacific, Europe, North America, and the rest of the world. Amongst these, Asia Pacific is anticipated to lead the market throughout the forthcoming period. The region procured USD 15.14 billion revenue in 2018. Developing nations, such as China, India, and Japan are likely to contribute to the growth in this region as they have made it compulsory for all the automotive manufacturers to equip every vehicle with adaptive cruise control systems. These systems are presently available at lower prices owing to the recent technological advancements. Apart from that, the buying preferences of consumers are shifting to mid-level vehicles from entry-level vehicles. North America, on the other hand, is set to remain in the second position backed by the early adoption of innovative technology, as well as rising government rules to refine the safety equipment of vehicles. This includes the ACC system.

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Competitive Landscape-

Key Companies Focus on Introducing Lightweight Products to Gain Competitive Edge

The market is highly competitive with the presence of a large number of enterprises. They are adopting the strategies of research and development activities to introduce cost-effective and lightweight ACC systems. Below are a couple of the latest industry developments:

  • January 2020: Bosch, a multinational engineering and technology company based in Germany, introduced its latest long-range LiDAR It is meant of automotive usage. It illuminates the target objects with laser light and measures the reflected pulses to calculate the distance. It is best suited for medium and close ranges in cities and on highways. Owing to the economies of scale, the product will be price-competitive.
  • June 2017: TomTom and Bosch joined hands to develop high-resolution road maps solely based radar signals. Self-driving vehicles can use these maps to point their location in a few centimetres.

Fortune Business Insights™ lists out the names of all the adaptive cruise control manufacturers. They are as follows:

  • ZF Friedrichafen AGs
  • Robert Bosch GmbH
  • Delphi Automotive LLP
  • Continental AG
  • Mando Corporation
  • Denso
  • Valeo
  • Luminar
  • Velodyne Lidar, Inc.

Table of Content

1.Market Overview

  • Adaptive Cruise Control Market Introduction
  • Market Analysis by Type
  • Market Analysis by Applications
  • Market Analysis by Regions
  • North America (United States, Canada and Mexico)
  • United States Market States and Outlook (2020-2026)
  • Canada Market States and Outlook (2020-2026)
  • Mexico Market States and Outlook (2020-2026)
  • Europe (Germany, France, UK, Russia and Italy) Germany Market States and Outlook (2020-2026)
  • France Market States and Outlook (2020-2026)
  • UK Market States and Outlook (2020-2026)
  • Russia Market States and Outlook (2020-2026)
  • Italy Market States and Outlook (2020-2026)
  • Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
  • China Market States and Outlook (2020-2026)
  • Japan Market States and Outlook (2020-2026)
  • Korea Market States and Outlook (2020-2026)
  • India Market States and Outlook (2020-2026)
  • Southeast Asia Market States and Outlook (2020-2026)
  • South America, Middle East and Africa
  • Brazil Market States and Outlook (2020-2026)
  • Egypt Market States and Outlook (2020-2026)
  • Saudi Arabia Market States and Outlook (2020-2026)
  • South Africa Market States and Outlook (2020-2026)
  • Turkey Market States and Outlook (2020-2026)
  • Market Dynamics
  • Market Opportunities
  • Market Risk
  • Market Driving Force

2.Manufacturers Profiles

3.Global Adaptive Cruise Control Market Sales, Revenue, Market Share and Competition by Manufacturer (2017-2018)

  • Global Adaptive Cruise Control Market Sales and Market Share by Manufacturer (2017-2018)
  • Global Adaptive Cruise Control Market Revenue and Market Share by Manufacturer (2017-2018)
  • Market Concentration Rate
  • Top 3 Adaptive Cruise Control Market Manufacturer Market Share in 2018
  • Top 6 Adaptive Cruise Control Market Manufacturer Market Share in 2018
  • Market Competition Trend

4.Global Adaptive Cruise Control Market Analysis by Regions

  • Global Adaptive Cruise Control Market Sales, Revenue and Market Share by Regions
  • Global Adaptive Cruise Control Market Sales and Market Share by Regions (2020-2019)
  • Global Adaptive Cruise Control Market Revenue and Market Share by Regions (2020- 2019)
  • North America Adaptive Cruise Control Market Sales and Growth Rate (2020-2019)
  • Europe Adaptive Cruise Control Market Sales and Growth Rate (2020-2019)
  • Asia-Pacific Adaptive Cruise Control Market Sales and Growth Rate (2020-2019)
  • South America Adaptive Cruise Control Market Sales and Growth Rate (2020-2019)
  • Middle East and Africa Adaptive Cruise Control Market Sales and Growth Rate (2020-2019)

ToC Continue…

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Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Adaptive Cruise Control (ACC) Market to Reach $48.31 Billion by 2026; Rising Usage of Self-driving Vehicles to Aid Growth: Fortune Business Insights(TM)

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