Global Automotive Adaptive Cruise Control Market 2017-2021

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

• Americas
• APAC
• EMEA

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.