Adaptive Cruise Control Market Stand Out as the Biggest Contributor to Global Growth and Will Hit 6.92% CAGR By 2027
Market Summary The Global Adaptive Cruise Control market was valued at USD 13.83 Billion in 2018 and is projected to grow at a CAGR of 6.92% from 2019 to 2026. Increasing number of vehicle accidents globally is one of the drivers for the growth of the Adaptive Cruise Control (ACC) market. Another major factor for the increase in the size of the market through the forecasted period are the rising number of initiatives being undertaken by governments globally in order to improve the fuel efficiency of the vehicles as well as improve the safety attributes of the vehicles. Further key findings from the report suggest • • •
Rise in the demand for autonomous vehicles as well as increasing government initiatives regarding the fuel efficient vehicles and the safety attributes of the vehicles are the major factors attributing to the growth of the market. Regions with high intensity of fog, rainfalls and snowfalls are the major challenges for the growth of the market as such weather conditions make the ACC systems inefficient in making and monitoring the speeds of the surrounding objects. Asia Pacific region is forecasted to grow the fastest through 2019 to 2026 on account of emerging markets in countries like China, India, and Thailand.
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Key Players: Autoliv, Inc. (Sweden), Magna International (Canada), Valeo S.A. (France), Delpi Automotive (Ireland), Continental AG (Germany), Denso Corporation (Japan), ZF Friedrichshafen (Germany), Hyundai Mobis Co. (South Korea), Mando Corporation (South Korea), and WABCO (France). Segmentation: •
Technology (Revenue, USD Million; 2016–2026), Infrared Sensor, Laser Sensor, Image Sensor, Radar Sensor, Ultrasonic Sensor, LiDAR Sensor
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Vehicle (Revenue, USD Million; 2016–2026), Passenger Vehicle, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV)
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Propulsion (Revenue, USD Million; 2016–2026), Electric, Petrol, Diesel
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Regional Adaptive Cruise Control Market (Regional Output, Demand & Forecast by Countries):• North America (United States, Canada, Mexico) • South America (Brazil, Argentina, Ecuador, Chile) • Asia Pacific (China, Japan, India, Korea) • Europe (Germany, UK, France, Italy) • Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) and More.
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Major highlights of the report: • An all-inclusive evaluation of the parent market • The evolution of significant market aspects • Industry-wide investigation of market segments • Assessment of the market value and volume in the past, present and forecast years • Market share evaluation • Study of niche industrial sectors • Tactical approaches of the market leaders • Lucrative strategies to help companies strengthen their position in the market
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