Overview of the global automotive adaptive cruise control market
According to Technavio’s market research analysis, the rising support from insurance companies for safety systems will be one of the major factors that will have a positive impact on the growth of the global automotive adaptive cruise control (ACC) market till 2021. The utilization of safety technologies such as ACC would result in reducing the number of accidents, which highly benefits insurance companies. Insurance companies offer about 5%-10% discount on insurances for vehicles equipped with safety technologies. This reduction in price will benefit both the safety systems market and the insurance companies in terms of enhancing the customer base. In the coming years, safety systems will play a significant role in the price of vehicles and will directly impact the premium of insurance companies. To drive need for the safety systems in automobiles, insurance companies will provide subsidized premiums for vehicles equipped with safety systems. Our market research analysts predict that this market will grow at a CAGR of almost 18% by 2021.
The rising adoption of light detection and ranging technology in ADAS is one of the key trends that will gain traction in the automotive ACC market in the coming years. Improvement in light detection and ranging (LiDAR) technology and ADAS has given rise to several proven valuable capabilities compared to other sensors available in the market. LiDAR has improved capabilities to detect objects, even during the complete absence of light. The improvisation of LiDAR systems will help in reducing the costs of ACC and this will subsequently drive the installation of such systems in all vehicle segments.
Competitive landscape and key vendors
The automotive ACC market consists of a considerabl number of players and the key vendors account for the maximum market share. One of the key vendors, Bosch is the world’s largest supplier of automotive components and the company offers products in various segments including automotive components, industrial products, and building products.
The leading vendors in the market are –
- Bosch
- Continental
- Delphi
- ZF Friedrichshafen
The other prominent vendors in the market are Peloton Technology, WABCO, Valeo, DENSO, Magna International, Ficosa International, Mando, Environmental Solutions Group (ESG), GENTEX, Autoliv, and Mobileye.
Segmentation by vehicle type and analysis of the automotive ACC market
- Passenger cars
- Commercial cars
During 2016, the passenger cars segment accounted for the major shares of the automotive ACC market. Factors such as the increased adoption of advanced features to by OEMs and the growing demand for safer cars due to te introduction of stringent government regulations, will contribute to the growth of this industry segment in the coming years.
Geographical segmentation and analysis of the automotive ACC market
This market study estimates that in terms of geographic regions, EMEA will be the major revenue contributor to the automotive ACC market throughout the forecast period. The presence of stringent government laws and the rising adoption of safety systems in vehicles, will drive the market’s growth prospects in this region.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global automotive adaptive cruise control market?
- What are the key market trends impacting the growth of the global automotive adaptive cruise control market?
- What are the challenges to market growth?
- Who are the key vendors in the global automotive adaptive cruise control market?
- What are the market opportunities and threats faced by the vendors in the global automotive adaptive cruise control market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global automotive adaptive cruise control market?
Technavio also offers customization on reports based on specific client requirement.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
- Cruise control
- Adaptive cruise control
- Product life cycle of ADAS
- Value chain analysis
PART 05: Market landscape
- Market overview
- Five forces analysis
PART 06: Market segmentation by vehicle type
- Global automotive ACC market by vehicle type
- Global automotive ACC market by passenger cars
- Global automotive ACC market by commercial vehicles
PART 07: Geographical segmentation
- Global automotive ACC market by region
- Automotive ACC market in EMEA
- Automotive ACC market in APAC
- Automotive ACC market in Americas
PART 08: Decision framework
PART 09: Drivers and challenges
- Market drivers
- Market challenges
PART 10: Market trends
PART 11: Vendor landscape
- Competitive benchmarking
- Other prominent vendors
PART 12: Key vendor analysis
- Bosch
- Continental
- Delphi
- ZF Friedrichshafen
PART 13: Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape