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  • Automotive Adaptive Cruise Control System Market Analysis | 2023-2028

    Automotive Adaptive Cruise Control System Market Analysis | 2023-2028

    Automotive Adaptive Cruise Control System Market Analysis | 2023-2028
    Report code - SRTI116 Delivery - 2 Weeks
    Automotive Adaptive Cruise Control System Market Size, Share, Trend, Forecast & C See more...

    Market Insights

    The Automotive Adaptive Cruise Control System Market was estimated at US$ 3.6 billion in 2022 and is expected to grow at a healthy CAGR of 12.74% during 2023-2028 to reach US$ 7.39 billion by 2028.

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    What is an Automotive Adaptive Cruise Control System?

    Adaptive cruise control is an advanced system that automatically adjusts the speed of a car to maintain a safer distance from the preceding vehicles. The system can increase or decrease the car’s speed to maintain a safer distance. Many cars are now also equipped with a Stop and Go function that can slow and stop in traffic jams and then accelerate to go again.

    Automotive Adaptive Cruise Control System Market Report Overview

    Market Size in 2028

    USD 7.39 Billion

    Market Size in 2022

    USD 3.6 Billion

    Market Growth (2023-2028)

    12.74% CAGR

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Market Drivers

    The adaptive cruise control system market in the automotive industry is expected to offer excellent growth over the next five years. An increasing number of collisions on the road, rising disposable income, awareness among people regarding safety, and advancement in research and technology are some of the major growth drivers of the global automotive adaptive cruise control system market. Additionally, increasing demand for premium and luxury cars is also propelling the growth of adaptive cruise control systems in the automotive industry. Some companies have also started to deploy this system in mid-range cars to fulfill customer’s safety preferences.

    Segments Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Vehicle Type

    Passenger Cars, Light Commercial Vehicle, Medium and Heavy-Duty Commercial vehicles

    Passenger vehicle is expected to remain the most dominant vehicle type during the forecast period.

    End-Use Type

    OEM and Aftermarket

    OEMs are expected to remain the largest consumer of adaptive cruise control systems in the global automotive industry over the next five years.

    Regional Basis

    North America, Europe, Asia-Pacific, and the Rest of the World.

    Europe and North America are the biggest markets and are also the home of most of the adaptive cruise control system suppliers.

    By Vehicle Type

    The automotive adaptive cruise control system market is segmented based on vehicle type, passenger vehicles, light commercial vehicles, medium and heavy-duty commercial vehicles. Passenger vehicle is expected to remain the most dominant vehicle type during the forecast period. This vehicle segment is also likely to grow at the fastest rate during the same period, driven by an increase in demand for autonomous driving with high passenger safety in premium and luxury cars.

     By End-Use Type

    In terms of the end-use type, OEMs are expected to remain the largest consumer of adaptive cruise control systems in the global automotive industry over the next five years. The segment roughly consumed more than 90% of the market in 2015 in terms of value. Both the end-user segments (OEM and aftermarket) are likely to experience impressive growth over the next five years.

    Regional Analysis

    The global automotive adaptive cruise control system market is divided into North America, Europe, Asia-Pacific, and the Rest of the World. Europe and North America are the biggest markets and are also the home continent of most of the adaptive cruise control system suppliers. Shifts towards better lifestyles and preferences for high-end cars are driving the demand for advanced cruise control systems in developing economies.

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    Key Players

    Adaptive cruise control systems can be seen in a wide array of cars. Audi, BMW, Chevrolet, Dodge, Ford, Honda, Hyundai, Land Rover, Lexus, Mercedes-Benz, Nissan, Porsche, Subaru, Toyota, and Volvo are some of the well-known brands that offer adaptive cruise control systems as standard or optional equipment in some of their cars. Most of the dealers also provide advanced features like stop and go, steering assist, brake assist, lane change assist, and automatic braking as advanced features.

    Key manufacturers of the adaptive cruise control system in the automotive industry are-

    • Autoliv Inc.
    • Bendix.
    • Continental AG
    • Delco Electronics
    • Delphi Automotive PLC
    • Denso Corporation
    • Hitachi Ltd.
    • Hyundai Mobis Co. Ltd.
    • Magna International Inc.
    • Mando Corporation
    • Nissan Motor Company
    • Robert Bosch GmbH
    • Siemens VDO
    • Valeo SA
    • ZF TRW Automotive

    New product development, advancement in technology, and collaboration with OEMs are some of the key strategies adopted by the major players to gain a competitive edge in the market.

    Research Methodology

    For calculating the market size, our analysts follow either a Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage a multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentations, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Automotive Adaptive Cruise Control System Market

    How lucrative is the future?

    The market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast

    Who are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirements?

    10% free customization

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players).
    • SWOT analysis of key players (up to 3 players).

    Market Segmentation

    • Current market segmentation of any one of the product types by application type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    The Automotive Adaptive Cruise Control System Market is expected to grow at a CAGR of 12.74% during 2023-2028.

    Denso Corporation, Magna International Inc., Mando Corporation, Valeo SA, ZF TRW Automotive, Autoliv Inc., Hyundai Mobis Co. Ltd., Robert Bosch GmbH, Delphi Automotive PLC, Continental AG, Delco Electronics, Hitachi Ltd., Nissan Motor Company, Siemens VDO, and Bendix. are among the key players in the Automotive Adaptive Cruise Control System Market.

    The Automotive Adaptive Cruise Control System Market is expected to reach US$ 7.39 billion by 2028.

    Europe and North America are expected to dominate the automotive adaptive cruise control system market.

    OEMs are expected to remain the largest consumer of adaptive cruise control systems in the global automotive industry over the next five years.

    Passenger Car is expected to remain the dominant segment in the automotive adaptive cruise control system market in the coming years.

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