Global Automotive Adaptive Cruise Control Market to Surpass US$ 22 Billion by 2025
Adaptive cruise control system provides relief to the driver in traffic as well as on a long route as the driver don’t have to maintain the speed by continuously pressing the pedal and brakes.
Albany, NY -- (SBWire) -- 03/19/2018 --The global automotive adaptive cruise control market is projected to grow at over 14% during the assessment period 2017-2025 and surpass US$ 22 billion in revenues. The report titled "Automotive Adaptive Cruise Control Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast - 2017 – 2025" studies the global market in detail and offer projections for the period 2017-2025.
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The report offers an unbiased and accurate analysis on the automotive adaptive cruise control market. The key influencing factors have been discussed in detail, and an assessment has been offered for the perusal of readers. In addition to highlighting the key drivers, restraints, opportunities, and threats, the report also offers studies the competitive landscape of the market in detail.
According to the report, the global automotive adaptive cruise control market is witnessing steady growth owing to a range of broader and industry-specific factors. The automotive industry is in the midst of a transformation, with technology permeating even the most conventional aspects. Adoption of adaptive cruise control is a step in advancement of automobiles, as it can help in reducing the spate of road accidents. In addition to the safety perspective, adoption is also growing as this technology gives readers a higher degree of comfort.
The automotive adaptive cruise control features RADAR and LIDAR technology – among these, adoption of RADAR is higher on account of its advanced features. It is projected that demand for RADAR will remain significant during the assessment period. The RADAR segment accounts for over 80% share of the market in terms of revenues.
By mode of operation, the key segments include normal, cruise control, and connected. Among these, demand for normal adaptive cruise control is the highest, and this segment accounts for over 97% revenue share of the market. The report projects the dominance of normal adaptive cruise control to continue during the assessment period.
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North America and Europe are among the leading markets for automotive adaptive cruise control, owing to the high penetration of technology in these regions. In addition to North America and Europe, Asia Pacific is another appealing market, owing to the high demand for automobiles in China and India. Adoption is also growing at a robust pace in Japan, which is home to some of the most prominent automobile companies in the world.
The report also analyzes the key players in the market, and offers readers an assessment on their strategies and future plans. Some of the leading players in the market include Delphi Automotive LLP, Robert Bosch GmbH, Preco Electronics, Continental AG, ZF Friedrichshafen AG, Valeo, Magna International, WABCO, DENSO CORPORATION, Autoliv Inc., Hitachi Ltd., and Mando Corp.
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