Adaptive Cruise Control Market to Reach US$ 13.7 Billion by 2033: Trends, Drivers, and Growth Forecasts

The adaptive cruise control market Size is capturing a valuation of US$ 4.1 billion in 2023 and is predicted to reach US$ 13.7 billion by 2033. The market is registering a CAGR of 12.7% during the forecast period.

Key Takeaways:

  • The adaptive cruise control market is estimated to capture a CAGR of 12.7% with a valuation of US$ 13.7 billion by 2033.
  • In the historic period, the market secured a valuation of US$ 3.8 billion in 2022.
  • The United States is anticipated to register a share of 16.7% in the global market by 2033.
  • With a share of 8.5%, Japan is estimated to drive the global market during the forecast period.
  • China is predicted to register a share of 14.0% in the global market by 2033.

Download our Sample Report to discover how recent industry developments, like :
https://www.futuremarketinsights.com/reports/sample/rep-gb-14545

How Does the Automotive Sector Drive the Global Market?

The global economy is expanding faster than the auto sector. An increasingly common technology in cars is adaptive cruise control, which allows drivers to alter their pace. Consumer interest in connected and autonomous vehicles is increasing as a result of its cutting-edge safety features, which is expanding the industry.

Modern automobiles, trucks, buses, and SUVs are all outfitted with state-of-the-art technology used in the automotive industry. In an effort to lower traffic accidents, many automakers are experimenting with offering top-notch safety measures. Top automakers include Mercedes-Benz, Volvo, BMW, Audi, and others.

There is a rising demand for safe cars as a result of the rise in accidents in developing nations like China and India. Automobile producers are constantly looking for solutions to issues brought on by an increase in accidents. These businesses are improving adaptive cruise control systems by spending time and energy on R&D projects.

Due to rising consumer desire for a more relaxing, dependable, and better driving experience, adaptive cruise control is being employed more frequently. The car sector is expected to dominate the global market as a result of innovation, technological developments, and convenient and fun driving systems.

How are Key Players Adding Value in the Global Market?

The key players are adding value in the global market to stay ahead of competitors are:

  • Offering Customized Solutions:The key companies offer various customized adaptive cruise control systems as consumers need. The companies offer specific adaptive cruise control for cars, trucks and buses.
  • Enhance User Experience:The key players make adaptive cruise control systems to enhance customers’ experience. The companies are developing this system by adding user-friendly interfaces, camera sensors and other features.
  • After-sale Services:The key companies offer after-sales services, including maintenance, support, repair and others. These services can perform adaptive cruise control smoother and more reliably.

Key Players in the Market are:

  • Hyundai Mobis Co., Ltd
  • Robert Bosche GmbH
  • Delphi Technologies
  • Autoliv Inc
  • Valeo SA
  • Mando Corporation
  • Continental AG
  • ZF Friedrichshafen AG
  • Manga International Inc
  • Denso Corporation

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized:
https://www.futuremarketinsights.com/customization-available/rep-gb-14545

Recent Developments in the Global Market are:

  • In 2021, Continental AG launched its new innovative radar sensors that detect objects from 300 meters. This latest sensor enhances the performance to drive safety.
  • In 2021, Robert Bosch GmbH announced its new generation radar sensor. The range of this sensor is 25% increase, which improves angular resolution and ability to detect tiny objects.

In 2020, Denso Corporation launched its latest advanced cruise control with integrated various sensors and cameras. This system provides information related to weather and driving conditions.

Market by Category

By Technology:

  • Ultrasonic Sensor
  • Lidar Sensor
  • Radar Sensor
  • Camera Sensor
  • Infrared Sensor
  • Pressure Sensor

By Sales:

  • OEM
  • Aftermarket

By Vehicle Type:

  • Passenger Vehicles
  • LCV
  • HCV

Region:

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • The Middle East and Africa

About Us

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights Inc.
Christiana Corporate,
200 Continental Drive,
Suite 401, Newark,
Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse latest Market Reports: https://www.futuremarketinsights.com/reports
LinkedIn | Twitter | Blogs

About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like these