Global Automotive Adaptive Cruise Control Market: Overview
Adaptive cruise control system is a sensor based system that aids in averting front side collisions and provide comfort on a long route by allowing the driver to free his hands from steering and foot from accelerating pedal. Adaptive cruise control system allows vehicle to drive at a preset constant speed as well as it stops the vehicle at a preset distance from the vehicle in front. This system is helpful in traffic conditions as it accelerates and stops the vehicle. Adaptive cruise control system provides relief to the driver in traffic as well as on a long route as the driver don’t have to maintain the speed by continuously pressing the pedal and brakes. According to Transparency Market Research, the global automotive adaptive cruise control market is expected to be worth US$22.1 bn in 2025 from US$ 6.60 bn in 2016. During the forecast years of 2017 to 2025, the global market is expected to exhibit a CAGR of 14.27%.
Long Range Detection of RADAR Sensors to make them Popular Amongst Automotive Adaptive Cruise Controls
The automotive adaptive cruise control market has been segmented into four categories, namely, technology, mode of operation, vehicle, and region. In terms of technology, the adaptive cruise control system market can be segmented into RADAR and LIDAR. In terms of revenue, RADAR sensors hold about 82% share of adaptive cruise control market, followed by LIDAR sensors. The demand for RADAR sensors is expected to remain high in the near future as they offer better efficiency in worst of weather conditions. Furthermore, their longer range of detection makes them a much suitable option than LIDA sensors. Thus, the growing number of vehicular mishaps are expected to keep the demand for RADAR sensors on the rise in the forthcoming years.
In terms of mode of operation, adaptive cruise control system market has been segmented as normal adaptive cruise control system and connected adaptive cruise control system. In terms of revenue the normal adaptive cruise control system market holds more than 97% of adaptive cruise control system market. However, the increasing sales of autonomous vehicles is likely to boost the demand for connected adaptive cruise control systems during the forecast period.
In terms of vehicle, the automotive adaptive cruise control market has been classified into passenger vehicle and commercial vehicle. In terms of revenue, passenger vehicles held the largest share in 2016, owing to the increase in demand for passenger cars in the automotive industry.
Awareness for Human Safety in North America Helps Regional Market to Dominate
In terms of region, the Adaptive Cruise Control market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In 2016, North America dominated the adaptive cruise control market with 38.41% share. Greater importance toward human safety is expected to be ht key driver for the growth of this regional segment. The consistent investment in research and development in the automotive sector of Europe and North America is also anticipated to play a critical role in defining the progress of these regional markets. Asia Pacific and Middle East and Africa are anticipated to dominate the market in the forecast period.
Key players in the automotive Adaptive Cruise Control market are expected to benefit from the formation of strategic alliances with global players in the automotive Adaptive Cruise Control market. Prominent players in the automotive Adaptive Cruise Control market are Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, Denso Corporation, Delphi Automotive LLP, Preco Electronics, Autoliv Inc., Valeo, Magna International, WABCO, Hitachi Ltd., and Mando Corp.
Global Automotive Adaptive Cruise Control Market: Snapshot
This report analyzes and forecasts the market for automotive Adaptive cruise control at the global and regional level. The market has been forecast based on revenue (US$ Mn) and volume (Units) from 2017 to 2025. The study includes drivers and restraints of the global automotive Adaptive cruise control market. It also covers the impact of these drivers and restraints on demand for automotive Adaptive cruise control during the forecast period. The report also highlights opportunities in the automotive Adaptive cruise control market at the global and regional level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global automotive Adaptive cruise control market. Porter’s Five Forces model for the automotive Adaptive cruise control market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, where in end-users are benchmarked based on their market size, growth rate, and general attractiveness.
Global Automotive Adaptive Cruise Control Market: Segmentation
The study provides a decisive view of the global automotive adaptive cruise control market by segmenting it in terms of technology, mode of operation, vehicle, and region. These segments have been analyzed based on present and future trends. Regional segmentation includes the current and forecast demand for automotive Adaptive cruise control in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers demand for individual application segments in all the regions.
The report provides the estimated market size of automotive adaptive cruise control for 2016 and forecast for the next nine years. The global market size of automotive adaptive cruise control has been provided in terms of revenue and volume. Market numbers have been estimated based on key technology, mode of operation, vehicle, and regional segments of automotive adaptive cruise control market. Market size and forecast for each major technology, mode of operation and vehicle have been provided in terms of global and regional/country markets.
Global Automotive Adaptive Cruise Control Market: Research Methodologies
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, National government documents, statistical databases, and market reports, American Automobile Association, European Automobile Manufacturers Association, Automotive Research Association of India, Organisation Internationale des Constructeurs d'Automobile (OICA), Factiva, etc.
Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
Global Automotive Adaptive Cruise Control Market: Competitive Landscape
The study includes profiles of major companies operating in the global automotive Adaptive cruise control market. Key players in the automotive Adaptive cruise control market include Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, Denso Corporation, Delphi Automotive LLP, Preco Electronics, Autoliv Inc., Valeo, Magna International Inc, Hitachi Ltd., Mando Corp., and Wabco. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, recent developments, and SWOT analysis. The market for automotive Adaptive cruise control is primarily driven by rising demand for eco-friendly agro products. Industrialization has led to urbanization, which has resulted in migration to cities.
The automotive Adaptive cruise control market has been segmented as follows:
Global Automotive Adaptive cruise control Market: By Technology
- RADAR Sensor
- LIDAR Sensor
Global Automotive Adaptive cruise control Market: By Mode of Operation
- Normal Adaptive Cruise Control System
- Connected Adaptive Cruise control System
Global Automotive Adaptive cruise control Market: By Vehicle
- Passenger Vehicle
- Commercial Vehicle
Global Automotive Adaptive cruise control Market: By Region/Country/Sub-region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America