Automotive Adaptive Cruise Control Market Size

Automotive Adaptive Cruise Control Market size was over USD 33.89 Billion in 2023 and is likely to cross USD 71.4 Billion by the end of 2036, growing at more than 5.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of automotive adaptive cruise control is estimated at USD 35.69 Billion. The growth of the market can primarily be attributed to the increasing use of sensory technology across the world among vehicle manufacturers to ensure the safety of vehicles. Moreover, senor technology in the automotive sector is growing widely as these sensors help to prevent accidents and increase driver safety. The sensors are used in tires, and rear-view visibility systems to reduce traffic congestion and increase customer satisfaction. It also aids in maintaining and monitoring vehicle efficiency and functioning. The increasing growth of intelligent vehicle manufacturing increases the demand for sensors in vehicles. Therefore, it is anticipated to drive the global automotive adaptive cruise control market. It was found that more than 9.6 billion automotive sensors were sold globally in 2021.

 ACC functions by sensory technology and use a radar or laser sensor or a camera setup which allow the car to detect and warn the driver about potential forward collisions. The growing number of vehicles and surge in road crash incidences are responsible for the demand of advance pre-crash as well as braking systems. Road accidents are one of the major causes of death across the world. In 2022, over 20,180 people are dead in bike accidents increasing from the base of 20,000 in 2021 in the U.S.  Even though there are many reasons for road accidents, some of the major accidents that are preventable include speed monitoring, wearing a seatbelt, rear view visibility, proper maintenance of vehicles, and good car brakes. To monitor these, sensors are installed in vehicles nowadays which indicate or send signals to the owners. About 80 sensors are installed in a car to inspect tire pressure, seatbelt, and the speed limit. This will help prevent some accidents that are caused by one’s own negligence while driving. This adoption of artificial intelligence is projected to rise market growth in the coming years.