Global Automotive Adaptive Cruise Control Market
Automotive adaptive cruise control is the integration of autonomous technology which involves usage of sensors, antennas, imaging technology as well as vehicle controls to ensure that the vehicle can automatically manage the speed of its movement for the maintenance of a safe distance from other automotive moving in front of them. It has a number of different functionalities and features that are similar to conventional cruise control although one of the major differences between cruise control and this technology is the modification of speed as per the speed of the vehicle moving in front.
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Automotive adaptive cruise control market is growing due to rising demand for automotive adaptive cruise control in vehicles, increasing awareness about passenger safety; the effects of these factors are mentioned below:
Strategic launches of products and expansion of businesses undertaken by market players:
The market is segmented on the basis of technology as LiDAR, Radar, laser, ultrasonic, image sensors; vehicle type is categorized into passenger car, LCV, M&HCV; end-use as OEM, aftermarket; mode of operation as normal adaptive cruise control system, connected adaptive cruise control system.
“According to Data Bridge Market Research, global automotive adaptive cruise control market is expected to be growing with a healthy CAGR of 14.45% during the forecast period of 2019 to 2026”
Some of the major players operating in market are Continental AG, Delphi Technologies, DENSO CORPORATION, Autoliv Inc, Magna International Inc., WABCO, Robert Bosch GmbH, ZF Friedrichshafen AG, Knorr-Bremse AG, Mobileye., Mando-Hella Electronics Corp., Valeo, HYUNDAI MOBIS, Delphi Technologies, Hitachi, Ltd., PRECO Electronics.
With the higher purchasing power available to the consumers they are willing to spend a greater sum on their assets purchases as they prefer to spend a larger sum of money which is creating an enhanced adoption rate for the modern technologies for vehicles which is high-costing.
Global Automotive Adaptive Cruise Control Market - Industry Trends and Forecast to 2028