Europe Automotive Cruise Control Market was valued at USD 1.7 Billion in 2022 and is projected to reach USD 4.0 Billion by 2030, growing at a CAGR of 11.4% from 2024 to 2030.
The European automotive cruise control market is undergoing a significant transformation, driven by technological advancements and stringent safety regulations. Adaptive Cruise Control (ACC) systems, which automatically adjust a vehicle's speed to maintain a safe distance from the car ahead, have become essential in modern vehicles. These systems enhance road safety and offer drivers increased comfort and convenience.
Recent developments in the industry highlight this trend. For instance, Mercedes-Benz announced plans to upgrade its automated driving system, DRIVE PILOT, to operate autonomously at speeds up to 95 kilometers per hour on German motorways, pending certification by Germany's motor transport authority expected by the end of 2024. Sales of the system are slated to begin next year, reflecting the industry's commitment to advancing cruise control technologies.
In Europe, the ACC market is projected to witness substantial growth. Reports indicate that the market is expected to grow from USD 17.04 billion in 2023 to USD 52.87 billion by 2030, exhibiting a CAGR of 17.6% during the forecast period. This growth is attributed to the increasing demand for advanced driver-assistance systems (ADAS), road safety, and the rise of electric and autonomous vehicles.
Germany, in particular, is expected to secure a significant share of 7.2% in the global ACC market during this period. The country's reputation for producing high-quality vehicles and adopting advanced technologies positions it as a key player in the global automotive market. The increasing demand for expensive and luxury cars among consumers is a primary driver of market growth in Germany.
The ACC market is segmented based on product sales, type, component, and vehicle type. Key components of ACC systems include:
Radar Sensors
LIDAR Sensors
Ultrasonic Sensors
Cameras
These components work in unison to detect the distance between vehicles and adjust speed accordingly, ensuring safety and efficiency on the road.
Moreover, regulatory frameworks play a pivotal role in shaping the ACC market. The European Union has introduced regulations requiring all new cars from July 2022 to be fitted with intelligent speed assistance (ISA) systems. This mandate underscores the emphasis on integrating advanced safety features in vehicles, further propelling the demand for ACC systems.
In addition to highway driving, ACC has become crucial for urban driving. It enables semi-autonomous operation in stop-and-go traffic scenarios, where the vehicle automatically accelerates and brakes to maintain a safe following distance. This feature reduces the stress associated with city driving, where frequent stops are common, and allows the driver to focus more on steering.
As the automotive industry continues to evolve, the integration of ACC systems is expected to become more widespread. Collaborations between automakers and tech companies are enhancing ACC systems, and rising disposable incomes in emerging markets are shifting consumer preferences toward vehicles with advanced safety features. The European market is also growing due to regulatory support, with Germany leading innovation in ACC technology.
In conclusion, the European automotive cruise control market is poised for robust growth, driven by technological advancements, regulatory mandates, and a growing emphasis on vehicle safety. As ACC systems become more sophisticated and integrated into various vehicle types, they will play a crucial role in shaping the future of automotive safety and driving comfort.
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Robert Bosch
Continental AG
Denso Corporation
Aptiv
ZF Friedrichshafen AG
Wabco
Hitachi Automotive Systems
Mando
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Europe Automotive Cruise Control Market
Adaptive Cruise Control (ACC)
Standard Cruise Control
Dynamic Radar Cruise Control
Predictive Cruise Control
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
SUVs and Crossovers
Control Modules
Sensors
Actuators
Radar Systems
Speed Control
Distance Control
Traffic Jam Assist
Lane Keeping Assistance
OEMs (Original Equipment Manufacturers)
Aftermarket Suppliers
Fleet Operators
Ride-sharing Services
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Europe Automotive Cruise Control Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Europe Automotive Cruise Control Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Automotive Cruise Control Market, By Type
6. Europe Automotive Cruise Control Market, By Application
7. Europe Automotive Cruise Control Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Europe Automotive Cruise Control Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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