Adaptive Cruise Control (ACC) Market Industry Share, Size: 2022 Market Research with Growth, Segments and Forecast - 2028

The global adaptive cruise control (ACC) market is anticipated to grow at a significant CAGR of 6.1% during the forecast period (2022-2028). Many countries have adopted innovative measures to combat the rising incidence of traffic accidents around the globe. Safety requirements for the installation of ACC systems in vehicles have been proposed by a number of transportation groups and unions. Long-range RADAR, along with adaptive cruise control to modify the vehicle's speed according to the surrounding traffic, has been substantially spent on R&D by key manufacturers.

The adaptive cruise control market is being driven by consumer demand for sophisticated collision prevention technologies. The adaptive cruise control industry is being driven by rising consumer disposable income and a shift in customer choice for vehicles equipped with these technologies. Increased passenger car sales are another factor expected to boost demand for these systems throughout the projected period.

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In terms of adaptive cruise control market share, the RADAR category is likely to dominate the market over the forecast period. The need for these systems is being fueled by an increase in demand for occupant safety in automobiles. Various governments have set strict rules on automakers to equip automobiles with RADAR technology in order to improve vehicle safety. Long, medium and short-range RADARs are the three varieties of automotive RADARs. The medium and short-range radars are mostly employed in blind spot detection applications, as they are capable of detecting obstructions at the vehicle's rear end. The major role of long-range RADARS, which are utilized in adaptive cruise control and autonomous emergency braking applications, is to detect the distance between the vehicle and the barrier at the vehicle's front end. The long-range radar gives a signal to the cruise control.

Some major players in the market include Continental AG, Delphi Automotive LLP, Mando Corp., Robert Bosch GmbH, and ZF Friedrichshafen AG, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, Delphi Automotive LLP offers adaptive cruise control systems. It changes the vehicle's speed automatically to keep a safe distance from oncoming traffic. Most systems cut off when they reach a particular speed, although some have a 'Stop & Go' or 'Queue Assist feature for usage in slow traffic.

Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Component Type
o By Vehicle Type

• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World

• Competitive Landscape- Continental AG, Delphi Automotive LLP, Mando Corp., Robert Bosch GmbH, ZF Friedrichshafen AG, 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?
o Deviation from the pre-COVID-19 forecast
o 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 Adaptive Cruise Control (ACC) Market Report by Segment

By Component Type
• LiDAR
• RADAR
• Others

By Vehicle Type
• Passenger Cars
• Commercial Vehicles

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This release was published on openPR.