Automotive Adaptive Cruise Control Market Set to Exhibit Robust Growth, Projected to Reach $37.98 Billion by 2029
21 Jan, 2025
What has been the Growth Journey of the Automotive Adaptive Cruise Control Market?
The Automotive Adaptive Cruise Control Market has seen rapid expansion over the recent years with the growth trajectory set on an upward trend.
• In 2024, the market was valued at $22.87 billion, growing to $25.32 billion in 2025 at a CAGR of 10.7%.
Factors contributing to historical growth include regulatory mandates, rise in passenger car sales, robust economic growth, and governmental support backing the adoption of adaptive cruise control systems in vehicles.
What Projections are made for the Future of the Automotive Adaptive Cruise Control Market?
As per predictions, the automotive adaptive cruise control market is on the verge of substantial growth in the near future.
• The market is projected to reach a size of $37.98 billion by 2029 progressing at a CAGR of 10.7%.
Rising emphasis on vehicle safety, growing sales of vehicles, increased adoption of connected vehicles, escalating urbanization, and higher disposable incomes motivate the forecasted growth. Key trends shaping the future of this market include enhanced sensor fusion, integration of machine learning and AI, driver monitoring systems, long-range radar, and cooperative adaptive cruise control (CACC).
What are the Key Drivers Influencing the Growth of the Automotive Adaptive Cruise Control Market?
A notable growth driver in the automotive adaptive cruise control market is the increase in the number of road accidents, making the integration of these systems vital in vehicles. Road accidents involving vehicles can lead to serious injuries and often, loss of life. Adaptive cruise control systems contribute to the reduction of road accidents by automatically adjusting the speed of the vehicle in line with the traffic ahead. For instance, in 2022 as reported by the Ministry of Road Transport and Highway, India, a total of 3.66k road accidents were recorded in which 13.17k people lost their lives and 3.48k people were injured. The consistent rise in the number of road accidents necessitate the wide adoption of automotive adaptive cruise control, thus driving the market growth.
What is the Market Segmentation for the Automotive Adaptive Cruise Control Market?
The automotive adaptive cruise control market encompasses several segments which include -
1) By Component: LIN, CAN, ECU, MCU, Wire Harness
2) By Technology: RADAR Sensor, LIDAR Sensor
3) By Mode Of Operation: Normal Adaptive Cruise Control System, Connected Adaptive Cruise Control System
4) By Vehicle: Passenger Vehicle, Commercial Vehicle
5) By Distribution Channel: OEM, After market
What Trends are Shaping the Automotive Adaptive Cruise Control Market?
The automotive adaptive cruise control market is being shaped by the advent of technological advancements with major companies keen on developing innovative solutions to secure a stronghold. For instance, Renesas, a Japan-based semiconductor company, launched its induction motor position sensing technology in October 2023. This technology, designed for electric vehicles and industrial automation applications, accurately detects the rotor position in induction motors, thereby increasing their performance. Use of this technology leads to improved torque, reduced energy consumption, and enhanced overall system reliability by accurately determining the position of the rotor, making a significant difference in advanced automotive systems such as electric drivetrains and adaptive cruise control.
Who are the Major Players in the Automotive Adaptive Cruise Control Market?
Major contenders influencing the dynamic landscape of the automotive adaptive cruise control market include:
• Magna International Inc
• Continental AG
• Denso Corporation
• Hitachi Automotive Systems Ltd.
• Robert Bosch GmbH
• Valeo SA
• Hyundai Motor Company
• ZF Friedrichshafen AG
• Mando Corporation
• Nidec Elesys America Corporation
• Velodyne Lidar
• Knorr-Bremse AG
• Eaton Corporation plc
• ADVICS Co Ltd
• Visteon Corporation
• Autoliv Inc.
• Delphi Automotive LLP
• WABCO Holdings Inc.
• TRW Automotive Holdings Corp.
• Hella KGaA Hueck & Co.
• Mobileye N.V.
• Gentex Corporation
• Aptiv plc
• Infineon Technologies AG
• NXP Semiconductors N.V.
• Texas Instruments Inc.
• STMicroelectronics N.V.
• Analog Devices Inc.
• Renesas Electronics Corporation
• ON Semiconductor Corporation
• Maxim Integrated Products Inc.
• Melexis NV
• Sensata Technologies Inc.
• TE Connectivity Ltd.
• Panasonic Corporation
• Toshiba Corporation
What is the Leading Region in the Automotive Adaptive Cruise Control Market?
In 2024, North America was the largest region in the automotive adaptive cruise control market. The regions explored in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.