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Market Overview:
The Adaptive Cruise Control Market size is estimated to reach $51 Billion by 2031, growing at a CAGR of 16.7% during the forecast period 2025-2031, according to a recent report published by IndustryARC, titled, “Adaptive Cruise Control – By Type (Integrated ACC, Standalone ACC), By Technology (Radar-based Systems, LIDAR-based Systems, Camera-based Systems, Others), By Vehicle Type (Passenger Vehicles, Commercial Vehicles), By Component (Sensors, Electronic Control Units (ECU), Software), By Functionality (Normal Adaptive Cruise Control, Stop-and-Go Adaptive Cruise Control, Predictive Adaptive Cruise Control), By Sales Channel (OEM (Original Equipment Manufacturer), Aftermarket), By Geography - Opportunity Analysis & Industry Forecast, 2025-2031”
The adaptive cruise control market is driven by a combination of factors, including a growing emphasis on vehicle safety, rising demand for electric vehicles, advancements in sensor technology and artificial intelligence, and shifting government regulations.
Europe Dominated the Market in 2024:
Europe dominated the adaptive cruise control market with a market share of 34% in 2043. Europe's dominance in the adaptive cruise control market is a result of its robust automotive industry due rise in electric vehicle. As per the IEA's Global EV Outlook report 2024, new electric vehicle registrations in Europe soared in 2023, amounting to almost 3.2 million units. This reflects a significant rise of nearly 20% in comparison to the last year. Within the European Union, this growth trend continued, with sales reaching 2.4 million units, exhibiting similar impressive growth rates. As a result of these factors, Europe firmly establishes itself as a global leader in the adaptive cruise control market.
Adaptive Cruise Control Market: Key Takeaways
Technological Advancements Driving ACC Market Growth
The market for adaptive cruise control (ACC) is growing because of major technological advancements. This encompasses improved sensor tech featuring 4D imaging radar and high-definition cameras, AI incorporation for predictive functions, and connectivity via V2V and V2I communication. These improvements not only boost safety and performance but also broaden ACC functionalities, including compatibility with autonomous emergency braking system.
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Increasing road accident
Traffic collisions continue to be a major issue worldwide, especially in nations experiencing growing urban development and higher car ownership. The World Health Organization (WHO) states that approximately 1.19 million people die annually due to road traffic accidents. Additionally, between 20 and 50 million people experience non-fatal injuries, with a considerable portion resulting in long-term disabilities. The frequent occurrence of accidents due to human mistakes, including tailgating, excessive speed, and slow response times. Integrating ACC with other ADAS features, like automatic emergency braking and lane-keeping assist, forms a cooperative safety system that can greatly improve driver safety and possibly save lives.
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Recent Developments:
• In September 2024, Robert Bosch GmbH introduced six new radar-based assistance systems. Four of these systems, utilizing front radar technology, will be featured in a new KTM motorcycle model by the Austrian manufacturer in November 2024, with production slated to begin in 2025.
• In September 2024, Continental launched aftermarket products range. Among the first products to be introduced are multifunctional camera modules, Long-Range, Adaptive Cruise Control (ACC) and Blind Spot radars for large-volume production models from Mercedes, BMW, Nissan, Volkswagen and Audi.
Adaptive Cruise Control Market: Competitive Landscape
Key companies profiled in the Adaptive Cruise Control Market are Robert Bosch GmbH, BorgWarner Inc., Magna International Inc., DENSO CORPORATION, Continental AG, Valeo, ZF Friedrichshafen AG, HELLA GmbH & Co. KGaA, AUTOLIV, HL Mando and others.
Related Reports:
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Automotive Shielding Market - Automotive Shielding Market size is projected to reach $22.6 billion by 2026, and it is estimated to grow at a CAGR 4.7% during 2021-2026. The robust growth of Automotive Shielding Market is majorly attributed to the increasing adoption of stringent fuel efficiency norms, pollution prevention regulations globally to curb the vehicle emission.
Advanced Driver Assistance Systems Market - Advanced Driver Assistance Systems Market Size is valued at $23,7100.0 Million by 2030, and is anticipated to grow at a CAGR of 20.90% during the forecast period 2024 -2030. The market is mainly driven by the technological advancements in the sensor technology.
About IndustryARC™:
IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.
IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.
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Mr. Venkat Reddy
IndustryARC
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