Dublin, Feb. 03, 2021 (GLOBE NEWSWIRE) -- The "Adaptive Cruise Control Market Size, Share, Analysis, By Technology, By Vehicle Type, By Propulsion, By Region Forecasts To 2027" report has been added to ResearchAndMarkets.com's offering.
Global Adaptive Cruise Control (ACC) Market was valued at USD 15.99 Billion in 2019 and is expected to reach USD 68.97 Billion by the year 2027, at a CAGR of 21.32%.
The rising mortality rate due to road accidents, legislation regulating automobile markets, and the need for fuel-efficient solutions for transportation are vital factors contributing to the growth of the Adaptive Cruise Control Market during the forecast period.
ACC refers to a technology that assists the driver in controlling the vehicle in the motorway. The system controls the accelerator, brake, and engine and aids in the maintenance of the time-gap with the car ahead. The vehicle control is able to collect information from on-board sensors, which are of many types, such as laser, radar, LiDAR, or other multiple sensors. It is known by various names, including dynamic control.
The increasing number of automotive accidents globally is one of the drivers for the growth of the market. Another key factor boosting the expansion of the market through the forecast period is the rising number of initiatives being undertaken by governments globally to improve the fuel efficiency of cars and enhance the safety attributes of vehicles.
ACC refers to an intelligent form of cruise monitoring that allows cars to speed up and slow down automatically in order to keep up with the pace of the traffic ahead. ACC is also called intelligent cruise control, active cruise control, autonomous cruise control, and radar cruise control. It is increasingly becoming a common feature in new cars being manufactured globally.
The market growth is propelled by the rising number of road accidents across the world and booming automobile markets in developing countries like India and China. These countries are facing a peak in car sales with passenger cars being sold in mass quantities. This sustained demand in the automobile industry has further propelled the growth of the ACC market. Governments across the world are aiming to enforce stringent restrictions on the automotive industry.
Road safety concerns are expected to be collaboratively solved with the involvement of automobile manufacturers, government authorities, and vehicle drivers. Automobile manufacturers incorporate technological interventions, such as ACC, in order to ensure compliance with road safety limits. The prescribed road safety limit is 50KM/H, which has been adhered to in many cities, which can be stipulated using ACC.
The COVID-19 Impact
The domino effect of coronavirus was felt beyond China's borders, as shortages of supplies from China stalled vehicle production globally. In over 27 European Union member states and the United Kingdom, factory shutdowns amounted to at least 1.4 million automobiles as per the European Automobile Manufacturers Association.
The automotive industry is crucial to Europe's revenue, and the effect of shutting down manufacturing plants is directly translating to the downturn of the automotive industry in the region. The worst-hit countries in the European region include Italy, Spain, Germany, France, and the United Kingdom, which have recorded more than 576,000 cases. Automotive brands in the region are more affected by the situation as production has been halted, as well as the demand.
Key Topics Covered:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
3.1. The rising number of road accidents
3.2. Need for fuel efficiency
3.3. Road safety regulations
3.4. Inefficiency due to weather conditions
Chapter 4. Adaptive Cruise Control Segmentation & Impact Analysis
4.1. Adaptive Cruise Control Segmentation Analysis
4.2. Adaptive Cruise Control Market Value Chain Analysis, 2017-2027
4.3. Regulatory framework
4.4. COVID-19 impact analysis
4.5. Adaptive Cruise Control Market Impact Analysis
4.5.1. Market driver analysis
188.8.131.52. Rising number of accidents
184.108.40.206. Government regulations for road safety and fuel efficiency
4.5.2. Market restraint analysis
220.127.116.11. Inefficiencies due to weather conditions
4.6. Key opportunities prioritized
4.7. Adaptive Cruise Control Pricing Analysis
4.8. Industry analysis - Porter's
4.9. Adaptive Cruise Control PESTEL Analysis
Chapter 5. Adaptive Cruise Control Market By Technology Insights & Trends
5.1. Adaptive Cruise Control Ingredient dynamics & Market Share, 2020 & 2027
5.2. Laser Sensor
5.3. Image Sensor
5.4. Radar Sensor
5.5. Ultrasonic Sensor
5.6. LiDAR Sensor
Chapter 6. Adaptive Cruise Control Market By Type Insights & Trends
6.1. Adaptive Cruise Control Product dynamics & Market Share, 2020 & 2027
6.2. Assisted Systems
6.3. Mutli-sensored Systems
6.4. Cooperative Systems
Chapter 7. Adaptive Cruise Control Market By Vehicle Type Insights & Trends
7.1. Adaptive Cruise Control Application dynamics & Market Share, 2020 & 2027
7.2. Passenger Vehicle
7.3. Light Commercial Vehicle
7.3.4. Utility Vehicle
7.3.6. Light Truck
7.4. Heavy Commercial Vehicle
Chapter 8. Adaptive Cruise Control Market By Propulsion Insights & Trends
8.1. Adaptive Cruise Control Propulsion dynamics & Market Share, 2020 & 2027
8.2.1. Market estimates and forecast, 2017 - 2027 (USD Million)
8.2.2. Market estimates and forecast, by region, 2017 - 2027 (USD Million)
8.2.3. Battery Electric Vehicle
8.2.4. Fuel Cell Electric Vehicle
8.2.5. Hybrid Electric vehicle
8.2.6. Plug in Hybrid Electric Vehicle
Chapter 9. Adaptive Cruise Control Market Regional Outlook
Chapter 10. Competitive Landscape
10.1. Market Revenue Share by Manufacturers
10.2. Mergers & Acquisitions
10.3. Strategy Benchmarking
10.4. Vendor Landscape
Chapter 11. Company Profiles
Autoliv Inc. (Sweden)
Magna Valeo S.A. (France)
Delphi Automotive (Ireland) Co.tinental AG (Germany)
Denso Corporation (Japan)
ZF Friedrichshafen (Germany)
Hyundai Mobis Co. (South Korea)
Mando Corporation (South Korea)
For more information about this report visit https://www.researchandmarkets.com/r/ou4497
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