Global Adaptive Cruise Control (ACC) Market (2016-2022)
Adaptive Cruise Control (ACC), also known as active cruise control, autonomous cruise control, radar cruise control and intelligent cruise control is a unique form of conventional car control system employed to control and maintain the speed of a car and similar other smart vehicles. Adaptive cruise control system very intelligently and automatically control the speed of a car taking precise account of an obstruction such as cars, objects, bodies nearing on the frontage.
ACC systems are not aided by any land infrastructure, satellite or from any vehicle. It employs lasers and sensors to manage the speed. It makes driver of the car quite safe as it automatically adjusts the gap between vehicles. The main accessories that assist the ACC system are longitudinal controller, radar headway sensor and digital signal processor. Latest ACC systems are being improved with collision warning potential duly aided by video and audio warning about an imminent collision and to take remedial measures such as evasive steering and use of brake. It would be capable of automatically applying an appropriate dose of brake while also alerting the driver.
Increasing number of road accidents, rising disposable income in developing economies and advancement in research and technology is driving the growth for these systems.
The global adaptive cruise control market is bifurcated based on technology, by geography, by type of end user, and by product sales. Ultrasonic, image, radar and LIDAR are the major types of technologies available for the adaptive cruise control industry. In 2015, laser technology dominated the global adaptive cruise control market with maximum share in terms of revenue. Based on estimation, the segment would account for 34.65% share in 2015. LIDAR technology on the other hand would register fastest growth during the forecast period (2016-2022).
Furthermore, on the bases of product sales, the market is segmented into OEM and aftermarket. In 2015, OEM dominated the adaptive cruise control market and is further slated to dominate the market. Based on estimation, in 2015 alone OEM segment had more than 95% product sales.
On the basis of customer types, the global adaptive cruise control market is segmented into consumer and commercial vehicles. In 2015, consumer vehicles are estimated to dominate the market in terms of revenue. This segment would register fastest growth during the forecast period (2016-2022).
Based on region, ACC market is segmented across geographies and countries including North America (U.S., Canada, Mexico and Rest of North America), Europe (Germany, U.K., France, Russia, Spain, Italy and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia and Rest of APAC) and LAMEA (UAE, Saudi Arabia, Brazil, Argentina, South Africa, Nigeria and Rest of LAMEA). Based on estimation, North America would account for revenue share of 37% in 2015.
The report covers the analysis of key stake holders of the ACC market. Key companies profiled in the report include Autoliv Inc., Robert Bosch GmbH, Delphi Automotive Plc., Denso Corporation, Valeo S.A, Continental AG, Magna International Inc., Mando Corporation and Hyundai Mobis Co., Ltd.
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