Press release
Driving Automotive Adaptive Cruise Control Market Growth in 2025: The Role of Reducing Road Accidents Through Automotive Adaptive Cruise Control Systems
Automotive Adaptive Cruise Control Market Size
Automotive Adaptive Cruise Control Market Size Growth Forecast: What to Expect by 2025?
In recent times, there has been a swift expansion in the automotive adaptive cruise control market size. The market is set to escalate from a value of $22.87 billion in 2024 to reach $25.32 billion in 2025, projecting a compound annual growth rate (CAGR) of 10.7%. The upsurge experienced in the historic period is a result of regulatory requirements, an increment in the sales of passenger cars, economic development, and governmental backing.
How Will the Automotive Adaptive Cruise Control Market Size Evolve and Grow by 2029?
The market for automotive adaptive cruise control is anticipated to witness swift expansion in the upcoming years. The market size is predicted to reach $37.98 billion by 2029, growing at a compound annual growth rate (CAGR) of 10.7%. The rise during the prognosis period can be attributed to factors such as higher focus on car safety, increasing car sales, the growth of connected vehicles, urbanization, and a surge in disposable income. Key trends predicted to emerge during the forecast period include improved sensor fusion, integration of machine learning and artificial intelligence, driver monitoring systems, long-range radar, and cooperative adaptive cruise control (cacc).
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What Drivers Are Propelling the Growth of Automotive Adaptive Cruise Control Market Forward?
The increase in road accidents is predicted to drive the expansion of the automotive adaptive cruise control market. Road accidents refer to any occurrence on the road resulting in injuries due to collisions starting from, concluding with, or involving a vehicle either partially or entirely on a public road. The automotive adaptive cruise control system aids in lowering these accidents via technology that decelerates the traffic ahead and autonomously alters the vehicle's speed. For example, in 2022, the Ministry of Road Transport and Highway, a ministry based in India, reported a total of 3.66k road accidents by states and union territories, resulting in 13.17k fatalities and 3.48k injuries. Hence, the increase in road accidents is fueling the expansion of the automotive adaptive cruise control market.
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Which Emerging Trends Are Transforming the Automotive Adaptive Cruise Control Market in 2025?
Technological innovation is a prominent trend growing in the automotive adaptive cruise control industry. Key players in this market are pouring their energies into the creation of cutting-edge technological solutions to fortify their standing. For example, in October 2023, Japan's semiconductor firm, Renesas, unveiled an induction motor position sensing technology which accurately pinpoints the rotor position in induction motors, fine-tuning their performance across various sectors such as electric automobiles and industrial automation. This technology makes use of sensors or sophisticated algorithms to gauge factors like voltage and current waveforms, allowing for precise motor control. By correctly identifying the rotor's position, it boosts the efficiency and reactivity of the motor control systems, which results in better torque output, lessened energy usage, and enhanced system reliability overall. Its usage is crucial in sophisticated automotive systems, such as electric drivetrains and adaptive cruise control.
What Are the Key Segments in the Automotive Adaptive Cruise Control Market?
The automotive adaptive cruise control market covered in this report is segmented -
1) By Component: LIN, CAN, ECU, MCU, Wire harness
2) By Technology: RADAR Sensor, LIDAR Sensor
3) By Mode Of Operation: Normal Adaptive Cruise Control System, Connected Adaptive Cruise Control System
4) By Vehicle: Passenger Vehicle, Commercial Vehicle
5) By Distribution Channel: OEM, After market
Subsegments:
1) By LIN (Local Interconnect Network): LIN Transceivers, LIN Controllers
2) By CAN (Controller Area Network): CAN Transceivers, CAN Controllers
3) By ECU (Electronic Control Unit): Adaptive Cruise Control ECUs, Centralized ECUs
4) By MCU (Microcontroller Unit): 8-bit MCUs, 16-bit MCUs, 32-bit MCUs
5) By Wire Harness: Adaptive Cruise Control Wire Harnesses, Connector Assemblies for Wire Harnesses
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Who Are the Key Players Shaping the Automotive Adaptive Cruise Control Market's Competitive Landscape?
Major companies operating in the automotive adaptive cruise control market include Magna International Inc, Continental AG, Denso Corporation, Hitachi Automotive Systems Ltd., Robert Bosch GmbH, Valeo SA, Hyundai Motor Company, ZF Friedrichshafen AG, Mando Corporation, Nidec Elesys America Corporation, Velodyne Lidar, Knorr-Bremse AG, Eaton Corporation plc, ADVICS Co Ltd, Visteon Corporation, Autoliv Inc., Delphi Automotive LLP, WABCO Holdings Inc., TRW Automotive Holdings Corp., Hella KGaA Hueck & Co., Mobileye N.V., Gentex Corporation, Aptiv plc, Infineon Technologies AG, NXP Semiconductors N.V., Texas Instruments Inc., STMicroelectronics N.V., Analog Devices Inc., Renesas Electronics Corporation, ON Semiconductor Corporation, Maxim Integrated Products Inc., Melexis NV, Sensata Technologies Inc., TE Connectivity Ltd., Panasonic Corporation, Toshiba Corporation
What Geographic Markets Are Powering Growth in the Automotive Adaptive Cruise Control Market?
North America will be the largest region in the automotive adaptive cruise control market in 2024. The regions covered in the automotive adaptive cruise control market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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