The adaptive cruise control market 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.
How Does the Automotive Sector Drive the Global Market?
The global market is expanding faster than the automobile sector. Because the speed of an automobile can be adjusted, adaptive cruise control is becoming more and more popular. The market size is driven by the rising consumer preference for connected and autonomous vehicles because of its cutting-edge safety features.
Request a Sample of this Report:
https://www.futuremarketinsights.com/reports/sample/rep-gb-14545
The newest vehicles, buses, SUVs, and trucks all feature cutting-edge technologies that are used by the automobile industry. To lower traffic accidents, numerous automakers are experimenting with offering top-notch safety measures. The leading automakers include Mercedes-Benz, BMW, Volvo, and Audi.
The need for safe cars is rising as a result of the increasing number of accidents in developing nations like China and India. Automobile makers are constantly addressing issues brought on by an increase in accidents. By devoting their efforts to R&D initiatives, these businesses are enhancing adaptive cruise control systems.
Adaptive cruise control is being more widely used as a result of consumers’ increased demand for a comfortable, dependable, and improved driving experience. According to estimates, the automotive industry will lead the worldwide market through innovation, technical advancements, and smooth and comfortable 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.
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
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
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.
Speak to our Research Expert:
https://www.futuremarketinsights.com/ask-question/rep-gb-14545
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
