Automotive Adaptive Cruise Control Market Share

Asia Pacific industry is likely to hold largest revenue share of 55% by 2037. The growth of the market can be attributed to the presence of giant automobile manufacturers in the region, a growing number of intelligent vehicles which are enabled with high-end technologies, as well as the rising awareness among automobile users about the efficient features of ACC. For instance, the penetration rate of intelligent vehicles in China has reached over 25% in 2022. Many trials are being conducted to increase the number of autonomous vehicles on Asian roads. Also, the government planned to encourage the use of automated vehicles in some regions. The economic growth of many developing countries is also estimated to drive market growth in the region. Thereby many middle-class families purchase private vehicles with rising disposable income. The increasing adoption of digitalization and advancements in automobiles among people owing to internet penetration and increasing accessibility to automation technology is further projected to boost the market’s growth in the region.