From $4.8 billion in 2016, the global adaptive cruise control market size is expected to attain the value of $15.3 billion by 2023, advancing at an 18.3% CAGR during the forecast period (2017–2023). The factors positively impacting the market growth are the rising number of vehicle safety initiatives and regulations due to the increasing number of road accidents.

The adaptive cruise control (ACC) is meant to regulate the vehicle speed in order to maintain a safe distance from other vehicles on the road. It works by sensing the speed of vehicles and alerting the braking system to reduce the vehicle speed.

Geographically, in 2016, North America and Europe collectively contributed more than 65.0% revenue to the adaptive cruise control market, and these are predicted to dominate the market during the forecast period as well. This is attributed to the increasing production of vehicles, technological developments, and strict safety regulations.

The United States New Car Assessment Program (US NCAP) is encouraging people to install such systems in vehicles. Furthermore, the rapid integration of safety features in vehicles is leading to an improved rating system, which, in turn, would result in the market growth.

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Competitive Landscape of Adaptive Cruise Control Market

The global adaptive cruise control market is fragmented in nature, dominated by majorly tier-1 suppliers. Among the leading players, Robert Bosch GmbH was the largest player in the market in 2016. Some of the other major players in the market are Continental AG, Denso Corporation, ZF Friedrichshafen AG, Magna International Inc., Valeo SA, Delphi Automotive PLC, Autoliv Inc., Mando Corporation, and Hyundai Mobis.