Adaptive Cruise Control Market

As per the research, the global adaptive cruise control market high is likely to grow from $4,767.0 million in 2016 to $15,290.0 million by 2023. The rapidly growing automotive industry especially in emerging economies of India, China, Brazil is generating significant demand for vehicle fitted with adaptive cruise control. Increasing number of road accident and awareness to safety systems is also driving the market.  Vehicle safety regulations and initiatives by various associations and trade unions are backing the increasing installations of adaptive cruise control (ACC) systems in vehicles. 

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As per the findings of research, the global adaptive cruise control market has been segmented into technology, application, end-use and region. In 2016, radar segment accounted for the largest share in global adaptive cruise control market and garnered 33.7% share in the global market. On the other hand, lidar segment is expected to witness the fastest growth in the global adaptive cruise control market.

The major factors driving the growth of the market includes growing demand of passenger cars and commercial vehicles globally. India and China have emerged as the growing countries where the vehicle production has increased rapidly in past five years and the trend is likely to continue during the forecast period.

Some of the major players involved include Autoliv Inc., Continental AG, Denso Corporation, Delphi Automotive PLC, Robert Bosch GmbH, Valeo SA, Hyundai Mobis, ZF Friedrichshafen AG, and Magna International Inc.