The adaptive cruise control market is capturing a valuation of USD 4.1 billion in 2023 and is predicted to reach USD 13.7 billion by 2033. The market is likely to register a CAGR of 12.7% during the forecast period.
The market is driven by various factors, including:
These crucial factors are driving the market growth.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 12.7% |
| Market Valuation (2023) | USD 4.1 billion |
| Market Valuation (2033) | USD 13.7 billion |
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Adaptive cruise control is an advanced technology used to control speed, keep vehicle distance and assist the driver. The following trends in the market are:
These are a few trends that increase the global market size as per consumers' preferences, changing lifestyles, and urbanization.
The market was valued at USD 2.6 billion in 2018 and secured a valuation of USD 3.8 billion in 2022. The growing technologies in vehicles for safety purposes are increasing the demand for adaptive cruise control. The rising demand for autonomous and electric vehicles is expanding the market size. The adaptive cruise control technology reduces driver fatigue and enhances car and passenger safety.
The manufacturers are bringing new technologies that allow vehicles to safe distances and adjust the speed of vehicles automatically. This technology is recently growing due to its potential and crucial feature. The market is anticipated to continue to propel the global market in the coming years.
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Based on technology, Lidar is estimated to dominate the global market by securing a share of 27% during the forecast period. The increasing adoption of lidar technology in adaptive cruise control is widely used for tracking and detecting objects. The lidar sensor can be able to detect objects from a distance and also forecast weather conditions.
The lidar technology is more efficient, accurate, and high precision. The demand for lidar technology is gaining popularity in electric and autonomous vehicles for mapping and discovering any uncertainty. The automotive sector is rapidly fueling by adopting lidar technologies due to their advanced and autonomous features. Other technologies, such as camera and radar sensors, are also expanding the market revenue.
Based on vehicle type, commercial vehicles are leading the global market by registering a share of 52% during the forecast period. The increase in commercial vehicles, such as buses and trucks, is capturing a huge market revenue. These commercial vehicles safely transfer goods and passengers from one place to another. The demand for commercial vehicles is increasing due to the rising passenger population, ease of travel, and safe distance traveling.
Commercial vehicles can adjust speed automatically, save time, and enhance fuel efficiency. Passengers feel more secure and safe due to the increased adoption of adaptive cruise control. The increase in autonomous, electric, and connected cars is also gaining huge popularity in the market. Overall, commercial vehicles are still dominating the global market by 2033.
| Countries | Forecast Share |
|---|---|
| United States | 16.7% |
| Germany | 7.2% |
| Japan | 8.5% |
| Australia | 0.3% |
| China | 14.0% |
| India | 13.5% |
| United Kingdom | 8.2% |
The United States is dominating the global market by capturing a share of 16.7% by 2033. The demand for adaptive cruise control is rising in the United States to increase safety awareness and adoption of advanced technology. The growing popularity of advanced driver assistance systems increases car safety and reduces driver fatigue.
Manufacturers in the automotive sector are implementing various technologies such as lidar and radar to improve their safety and ability to access smoothly. The adoption of adaptive cruise control is affordable, advanced, and provides better driving experiences. These factors are fueling the United States adaptive cruise control market.
Consumers prefer connected and autonomous cars with advanced driver assistance systems features. Overall, the United States is a prior leader in the global market and continue to grow in the coming years.
Japan is one of the countries that capture a significant share of 8.5% during the forecast period. Japan is rapidly growing the automotive sector by innovating technologies. The manufacturers in Japan are innovating advanced vehicles with the adoption of advanced sensors, automatic adjustable speed, and radar technologies.
Japan is a hub of new technologies, implementing autonomous technologies in the automotive sector. Several companies in the automotive sector are investing to bring out better safety and security for cars and other vehicles. These companies include Nissan, Honda, and Toyota, among others.
Japan's government supports advanced driving assistance systems by providing car manufacturers with certain subsidies. The manufacturers are developing luxury, electric, autonomous, and connected care, increasing the demand for adaptive cruise control. Rising safety concerns and advanced technology adoption fuel Japan's adaptive cruise control market.
Germany is estimated to secure a share of 7.2% in the global market during the forecast period. The increasing demand for expensive and luxury cars among consumers is driving market growth in the country. Germany produces expensive cars in the global market, adopting advanced technologies.
The popularity of electric and high-end vehicles is increasing the demand for adaptive cruise control in Germany. The automotive sector in Germany is highly advanced in its engineering and technical works. The country is the home of various luxury cars.
The key companies focus on improving and designing unique cars by implementing advanced features. The key companies in the German adaptive cruise control market are Robert Bosche GmbH, Valeo SA, Autoliv Inc, Magna International Inc, and others.
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The manufacturers continuously grow the global market through various strategies, innovation, and product launches. These strategies are:
The market is highly competitive by the present key players. They have invested their precious time and efforts in research and development activities. They are innovating advanced adaptive cruise control systems to meet consumers' satisfaction.
Through various marketing methodologies, these players are uplifting the market growth. These marketing tactics are collaborations, mergers, acquisitions, partnerships, and product launches.
Other Key Players in the Market are:
Recent Developments in the Global Market are:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | United States, United Kingdom, Japan, India, China, Australia, Germany |
| Key Segments Covered | Technology, Sales, Vehicle Type, Region |
| Key Companies Profiled | Hyundai Mobis Co., Ltd; Robert Bosche GmbH; Delphi Technologies; Autoliv Inc; Valeo SA; Mando Corporation; Continental AG; ZF Friedrichshafen AG; Manga International Inc; Denso Corporation |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The United States is expected to dominate the market.
The market size of adaptive cruise control is estimated to be USD 4.1 billion.
The market is predicted to expand at a CAGR of 12.7% through 2033.
Based on technology, Lidar is estimated to dominate the global market by securing a share of 27% during the forecast period.
The key market players include Hyundai Mobis Co., Ltd, Robert Bosche GmbH, and Delphi Technologies.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Technology 5.1. Ultrasonic Sensor 5.2. Lidar Sensor 5.3. Radar Sensor 5.4. Camera Sensor 5.5. Infrared Sensor 5.6. Pressure Sensor 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 6.1. OEM 6.2. Aftermarket 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Vehicle Type 7.1. Passenger Vehicles 7.2. LCV 7.3. HCV 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Robert Bosch GmbH 16.2. Delphi Automotive 16.3. Continental AG 16.4. ZF Friedrichshafen 16.5. Mando Corporation 16.6. Valeo SA 16.7. Denso Corporation 16.8. Luminar 16.9. Magna International 16.10. Aisin Corporation 16.11. Hitachi Astemo Inc. 16.12. Pacific Industrial Co. Ltd 17. Assumptions & Acronyms Used 18. Research Methodology
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Adaptive Cruise Control Market
