Automotive Adaptive Cruise Control Market Size, Share & Industry Analysis, By Component Type (LiDAR, RADAR, Others) By Vehicle Type (Passenger Cars, Commercial Vehicles), and Regional Forecast, 2019-2026

The global automotive adaptive cruise control market size was USD 29.48 billion in 2018 and is projected to reach USD 48.31 billion by 2026, exhibiting a CAGR of 6.5% during the forecast period.

Adaptive cruise control is a safety feature that helps the cruise control of the vehicle to adjust the speed of the vehicle according to its surrounding traffic. It does not take any support from the surrounding vehicles nor does it use any road-side infrastructure or satellite for the detection of traffic conditions around the vehicles. Instead, it uses LiDAR, RADAR, or laser technology to detect the distance between two vehicles and helps to adjust the speed accordingly. A lidar/radar is present in front of a vehicle that continuously detects the moving traffic around the vehicle. If a slow-moving vehicle is detected in front of the car, the system automatically slows down the vehicle and helps to maintain a gap between the two vehicles. If the radar detects that there is no obstacle or vehicle in range of the adaptive cruise control system, then it automatically accelerates the vehicle to set the cruise control speed. Therefore, it automatically helps to accelerate and decelerate the vehicle depending on the surrounding traffic without the driver’s intervention. It is coupled with the collision avoidance system that alerts the driver if the vehicle is near any obstacle, thus preventing collision. 

LATEST TRENDS

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Higher Adoption of Adaptive Cruise Control System in Autonomous/Self-Driving Vehicles is Key Market Trend

The self-driving or autonomous vehicles fall under the 4^th and 5^th level of automation. These vehicles majorly rely on sensors, radars, cameras, software algorithms, and other advanced driving systems. The ACC system is one of the crucial devices of autonomous vehicles and helps them to function efficiently. It is an intelligent system that automatically adjusts speed to maintain a safe distance among other vehicles in the same lane. This system comprises a longitudinal control strategy, lateral control strategy, and an integrated decision unit that controls the speed, maintains the fixed lane, and applies severe brakes to avoid collisions, thus making it an essential part of the autonomous vehicles.

The automotive industry is shifting towards autonomous vehicles owing to the technological advancement in safety systems. The rising demand for greater comfort, high efficiency, and enhancement in safety features is driving the adoption of self-driving or autonomous vehicles across the globe.

Moreover, the rates of road accidents are rising day by day. The adoption of autonomous vehicles having such system will reduce the frequency and severity of road accidents to a great extent, thereby propelling the demand for these systems.  

DRIVING FACTORS

Stringent Safety Regulations is Anticipated to Drive Growth Over the Forecast Period

Many governments have come up with innovative strategies to curb the rising number of road accidents globally. Ruling bodies across the globe have imposed stringent regulations on automotive manufacturers to enhance the safety of the vehicle. Various transportation associations and unions have initiated safety regulations for the installation of ACC systems in vehicles. Key manufacturers have heavily invested in R&D to manufacture long range RADAR, coupled with adaptive cruise control to adjust the speed of the vehicle as per the surrounding traffic.

Growing Inclination of Consumers towards Adaptive Cruise Control Technology is Aiding Growth

The growing inclination of consumers towards advanced collision avoidance systems is driving the adaptive cruise control market. The rising number of road accidents is set to fuel the demand for ACC systems during the forecast period. Additionally, the increasing advancement in adaptive cruise control is also fuelling its demand in the market. Increasing disposable income of consumers and their changing preference to purchase vehicles equipped with these systems are driving the adaptive cruise control market. Increasing sales of passenger car is also one of the factors that would fuel the demand for these systems over the forecast period.

RESTRAINING FACTORS

Bad Weather Conditions to Hamper Growth

Regions with extreme weather such as fog, snowfall, and rainfall are expected to hamper the adaptive cruise control market growth over the forecast period. Regions with extreme climate make the adaptive cruise control inefficient. Installation of these systems and programming the radar system according to the region and extreme weather make the system more expensive. Each manufacturer produces high end sensors that are highly competitive as compared to their competitors and hence, makes it difficult for the car owner to understand its exact function.

SEGMENTATION

By Component Type Analysis

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RADAR to Dominate the Component Type Segment over the Forecast Period

The RADAR segment is expected to dominate the market over the forecast period in terms of adaptive cruise control market share. Increasing demand for the safety of occupants in vehicles is fueling the demand for these systems. Various governments have imposed stringent regulations on automotive manufacturers to equip RADAR technology in order to enhance the safety of the vehicles. Automotive RADARs are of three types, namely, long, medium, and short-range RADARs. The medium and short range radars are majorly used in blind spot detection applications; these radars are capable of detecting the obstacles which are at the rear end of the vehicle. Whereas, the long range RADARs are used in adaptive cruise control & autonomous emergency braking applications, its primary function is to detect the distance between vehicle and the obstacle at the front end of the vehicle. The long range radar sends the signal to this cruise control system and helps to alter the speed of the vehicle.  LiDAR is anticipated to be the fastest-growing segment over the forecast period. The growing inclination of the automotive industry towards self-driving vehicles that are highly safe and efficient is fueling the demand for LiDAR technology. LiDAR is a technology that detects the distance between the vehicle and the obstacle with the help of laser-based technology and sends signals to adaptive cruise control to lower the speed of the vehicle. The rising adoption of this system in passenger cars is helping this segment to maintain its second-largest position in this segment. The rising adoption of this technology in commercial vehicles is also expected to maintain its steady growth during the forecast period.

By Vehicle Type Analysis

Passenger Cars Segment Expected to Lead Growth in this Market

Based on vehicle type, this market is segmented into passenger cars and commercial vehicles. The passenger car segment is anticipated to dominate the market over the forecast period. Stringent regulations imposed by the government to equip ACC systems in vehicles are fuelling the growth of this segment. Rising vehicle production across the globe is also one of the significant factors maintaining the dominance of this segment. The commercial vehicles segment is expected to show steady growth over the forecast period. The booming e-commerce and logistics industry is triggering the demand for commercial vehicles equipped with these systems. The rising adoption of ACC in a commercial vehicle is expected to maintain its growth in the market.

REGIONAL ANALYSIS

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Based on region, the adaptive cruise control market is segmented into North America, Europe, Asia Pacific and the rest of the world. Asia-Pacific is expected to dominate the market over the forecast period. Major countries such as Japan, India, and China have made it mandatory to install these systems in all segments of the vehicles. Rising technological advancements in these systems have helped to lower its price over the years. Hence, this is changing the buying preferences of the consumers from entry-level vehicles to mid-level vehicles.

North America is expected to hold the second-largest position in the market. Stringent government regulations imposed in this region has forced the manufacturers to equip safety equipment in all variants of the vehicles. The early adoption of advanced technology in this region is also another factor maintaining the region’s second-largest position in the market. Europe is anticipated to show good growth in the market. The presence of major key players in this region and growing awareness amongst the consumers regarding the safety of vehicles is expected to drive growth in the region.

KEY INDUSTRY PLAYERS

Diverse Portfolio and Core Focus of Robert Bosch GmbH is Expected to Help Retain Its Leading Position

Robert Bosch GmbH continues to lead the global adaptive cruise control market. The heavy investment made in R&D to develop the advanced system, light weight components, and cost-effective components that are highly competitive in the market are some of the prominent factors responsible for the dominance of the company. However, Continental AG, Delphi Automotive LLP, and ZF Friedrichafen AG have also retained their positions in the competitive landscape with Continental, mostly dominating the European market as compared to its competitors. This is projected to certainly influence the global market as these companies are anticipated to drive the market innovation during the forecast period.

LIST OF KEY PLAYERS PROFILED:

• Robert Bosch GmbH


• Delphi Automotive LLP


• Continental AG


• ZF Friedrichafen AG


• Mando Corporation


• Denso


• Valeo


• Luminar


• Velodyne Lidar, Inc.

KEY INDUSTRY DEVELOPMENTS:

• January 2020 – Bosch launched its long range LiDAR for vehicles at the Consumer Electronics Show. This sensor is suitable to use both in city centers and on motorways as this technology includes both long and short-range radars.


•  January 2020 – Luminar launched perception engineering i.e. advanced LiDAR technology for automobiles in order to enhance safety of the vehicles. Its capability to detect and classify objects in real-time is up to 250 meters.

REPORT COVERAGE

The automotive adaptive cruise control market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product.

An Infographic Representation of Automotive Adaptive Cruise Control (ACC) Market

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Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that have contributed to the growth of the market over recent years.

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