Published on : Feb 02, 2018
Albany, New York, February 2, 2018: A newfangled report, focusing on the global market for automotive adaptive cruise control has been publicized to the massive database of Market Research Hub (MRH), which clearly states that market will gain steady growth in the coming years. According to the report, titled “Automotive Adaptive Cruise Control Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2025”, the automotive adaptive cruise control likely to boost in the market with the increased demand for the autonomous vehicles. At present, the industry is highly fragmented with the presence of small and medium-sized manufacturers. Major players operating in the market of the adaptive cruise control system are Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, DENSO CORPORATION, Delphi Automotive LLP, Preco Electronics, Autoliv Inc., Valeo, Magna International, WABCO, Hitachi Ltd., and Mando Corp.
Market Overview and Key Insights
Adaptive cruise control is an intelligent form of cruise control systems that slows down and speeds up automatically to keep pace with the car. Due to the implementation of RADAR sensors, the demand has grown across the globe. The demand for RADAR sensors is expected to remain high in the near future as they offer better efficiency in worst of weather conditions. Furthermore, their long range of detection makes them a much suitable option than LIDAR sensors. Thus, the growing number of vehicular mishaps are expected to keep the demand for RADAR sensors on the rise in the forthcoming years. According to the research key findings, the global automotive adaptive cruise control market is expected to be worth US$22.1 bn in 2025 from US$ 6.60 bn in 2016. During the forecast years of 2017 to 2025, the global market is expected to exhibit a CAGR of 14.27%.
To summarize, this smart evaluation offers professional and in-depth research assessment of the world's major geographical market conditions, focusing on the main regions. In this report, the regions targeted include North America, Europe, Latin America, Asia-Pacific, and the Middle East and Africa. It also covers the impact of these drivers and restraints on demand for automotive Adaptive cruise control during the forecast period. It has been analyzed that the increasing adoption of automotive adaptive cruise control systems in the vehicles is witnessed chiefly due to increased prevalence of road accidents and growing concerns towards road safety alertness. This acts as a prime factor propelling market growth.
Moreover, the automotive adaptive cruise control market has been segmented into four categories, namely, technology, mode of operation, vehicle, and region. The report also highlights opportunities in the automotive Adaptive cruise control market at the global and regional level. The report finds that North America dominated the adaptive cruise control market with 38.41% share, and also anticipated to surge during the forecast timeline as well. Greater importance towards human safety is expected to be a key driver for the growth of this regional segment.
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