The global Adaptive Cruise Control Market size is expected to reach USD 60.92 Billion in 2030 and register a revenue CAGR of 6.2% over the forecast period, according to latest report by Reports and Data. Adaptive Vehicle control systems enable drivers to automatically adjust vehicle speed thereby maintaining a predefined minimum distance to the preceding vehicle. This is a major factor expected to drive Adaptive Cruise Control Market revenue growth.
Adaptive Vehicle control is a cutting-edge safety system that is inbuilt in modern vehicles. It allows drivers to easily control their vehicle's operation automatically. This system makes extensive use of sensing technology to monitor and map vehicles and other roadside objects. Furthermore, adaptive Vehicle control system provides a safe and convenient driving experience. They accomplish this by enabling drivers to maintain constant vehicle speed at a given time. Drivers can also manually adjust specific factors such as distance at which car should reduce its speed. They can also change driving modes, such as economical, sporty, or comfortable. The adaptive Vehicle control system plays a major role in modern-day vehicles.
Increased demand for adaptive Vehicle control can be attributed to fewer road accidents. As these systems are integrated with advanced technologies such as sensors and utilize existing vehicle features and technologies, it effectively alerts and enables drivers to maintain a safe distance from preceding vehicles. In addition, adaptive Vehicle control significantly improves driving experience by allowing drivers to move their focus away from handling accelerator and brake functions, particularly during heavy traffic jams.
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The increasing number of road-related accidents worldwide has raised concerns among international authorities, such as the World Health Organization (WHO), as these accidents are considered one of the major causes of death. Reports from WHO and other organizations have highlighted a significant rise in fatalities resulting from road accidents.
To address this issue, governments in various countries and other authorities have implemented norms and regulations mandating the installation of highly-efficient adaptive Vehicle control systems in vehicles. Adaptive Vehicle control is a technology that offers multiple benefits for drivers, enabling them to make more informed decisions on the road.
The demand for added safety and comfort in vehicles has also been on the rise among consumers worldwide. People are increasingly seeking vehicles equipped with advanced safety features that can help prevent accidents and minimize risks. As a result, automotive manufacturers are swiftly implementing adaptive Vehicle control technology to meet consumer demands and achieve high ratings for their vehicles.
By integrating adaptive Vehicle control systems into vehicles, manufacturers aim to enhance driver safety and improve the overall driving experience. These systems use advanced sensors and intelligent algorithms to maintain a safe distance from the vehicle ahead and automatically adjust the speed accordingly. They can also incorporate features such as lane-keeping assist and collision avoidance systems, further enhancing vehicle safety.
Type Outlook (Revenue, USD Billion; 2019–2030)
- RADAR-Based Systems
- Laser-Based Systems
- Binocular Computer Vision Systems
- Assisting Systems
- Multi-Sensor Systems
- Predictive Systems
Sensing Technology Outlook (Revenue, USD Billion; 2019–2030)
- Light Detection and Ranging (LiDAR) Sensors
- Ultrasonic Sensors
- Image Sensors
- Laser Sensors
- RADAR Sensors
Vehicle Type Outlook (Revenue, USD Billion; 2019–2030)
- Passenger Vehicle
- Commercial Vehicle
- Utility Vehicle
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Key Regional Markets Covered in the Report:
· North America (U.S., Canada, Mexico)
· Europe (U.K., Italy, Germany, Spain, France, BENELUX, Rest of Europe)
· Asia Pacific (India, Japan, China, South Korea, Australia, Rest of Asia Pacific)
· Latin America (Chile, Brazil, Argentina, Rest of Latin America)
· The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Top Companies Operating in the Global Adaptive Cruise Control Market:
Autoliv Inc., Magna International Inc., Valeo, BorgWarner Inc., Continental AG, Denso Corporation, ZF Friedrichshafen AG, Hyundai Mobis, Mando Corp., and Robert Bosch GmbH.
Some Key Highlights from the Report
· On 14 January 2022, Denso Corporation, which is a Japanese-based global manufacturer of advanced automotive technologies and components, announced development of Global Safety Package 3*1. It is an active safety system with advanced sensing capabilities. The system was previously integrated into vehicles such as Hino Ranger, Lexus NX, and Toyota Noah, which were released in August and October of 2021, respectively. This system's improved performance can be attributed to combined performance of a millimeter-wave Radio Detection and Ranging (RADAR) sensor and a vision sensor, which aids in detecting road shapes and objects around it at the same time.
· RADAR-based systems segment accounted for largest revenue share in 2021. Rising demand for this segment is primarily due to their enhanced capability of detecting objects around the vehicle. Radar-based systems are active safety systems that assist drivers in virtually looking through vehicles and sensing static and dynamic objects around them. Primary objective, however, is to detect and measure range, velocity, and positioning of approaching obstacle and thereby notifying and safeguarding vehicle against any blind spot hazards.
· Light Detection and Ranging (LiDAR) segment accounted for largest revenue share in 2021. It is a sensor technology that allows vehicles to generate a Three-Dimensional (3D) map of their surroundings and thus access vehicle functions accordingly. LiDAR sensors are an important component in modern vehicles as they allow drivers to get more comprehensive view of their surroundings, allowing them to make more informed decisions. Furthermore, announcement by self-driving powerhouse Agro AI suggests that autonomous cars have progressed significantly, owing primarily to recent advancements in LiDAR technology, which allows vehicle to detect objects 400 meters away.
· Passenger vehicle segment accounted for largest revenue share in 2021. Rising shift of consumer preferences from traditional commute systems to luxurious and comfortable daily transportation systems is a major factor driving revenue growth of this segment. Adaptive Vehicle control system is integrated into all variants of modern passenger vehicles due to their added safety feature. In addition, it spares driver from hassle of looking at side mirrors for objects and vehicles nearby, allowing them to enjoy ride more comfortably.
· Market in North America accounted for largest revenue share in 2021. Rapid technological advancements and increased investment by major market players are major factors driving market revenue growth in this region. Adaptive Vehicle control system is an advanced automotive feature that increases efficiency of a vehicle while also making drivers feel safer. Furthermore, Original Equipment Manufacturers (OEMs) in various countries in this region are offering their customers option to select required features and customize various features of adaptive Vehicle control system. As a result, demand for adaptive Vehicle control is increasing rapidly in this region.
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Overall, the implementation of highly-efficient adaptive Vehicle control systems in vehicles is a response to the increasing concern over road accidents and the demand for improved safety and comfort from consumers. These technologies have the potential to significantly reduce accidents and save lives by assisting drivers in making better-informed decisions on the road.
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