Automotive Adaptive Cruise Control Market to Surpass $ 19 Billion by 2023
Rapid advancements in
technology along with increasing sales of passenger cars to propel global
automotive adaptive cruise control market through 2023
According
to TechSci Research report, “Global
Automotive Adaptive Cruise Control Market By Vehicle Type, By Technology
Type, By End Use, By Region, Competition Forecast & Opportunities, 2013 -
2023”, the global
automotive adaptive cruise control market is projected to cross $ 19 billion by
2023, on account of increasing demand for luxury vehicles and rising awareness
regarding safety while driving. Moreover, favorable government regulations
along with increasing sales of passenger cars and commercial vehicles,
especially in major developing economies, is further expected to positively
influence global automotive adaptive cruise control market. Additionally,
continuous improvements in technology is further likely to push demand for automotive
adaptive cruise control systems through 2023 across the globe. Major players
operating in the global automotive adaptive cruise control market include Denso,
Continental, Robert Bosch, Delphi, and WABCO, among others.
Browse 206 market data Figures and Tables spread
through 221 Pages and an in-depth TOC on "Global Automotive Adaptive Cruise Control
Market"
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With a
dominant share of over 95% in 2017, passenger car segment dominated global
automotive adaptive cruise control market, followed by commercial vehicle segment.
Among regions, Europe accounted for the largest share in global automotive
adaptive cruise control market in 2017, followed by Asia-Pacific, North America
and Middle East & Africa. Major
factors driving demand for automotive adaptive cruise control in Europe are growing
sales and fleet of passenger and commercial vehicles, government focus towards high
vehicle safety and rising adoption of adaptive cruise control in countries like
UK and Germany.
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“Rising
incidences of road accidents coupled with increasing traffic congestion is
driving the need for automotive adaptive cruise control systems, globally. Moreover,
growing safety concerns among people is further pushing demand for adaptive
cruise control systems. Rising focus of OEMs towards providing this feature in
their vehicles would further steer growth in the global automotive adaptive
cruise control market during forecast period.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Global Automotive
Adaptive Cruise Control Market By Vehicle Type, By Technology Type, By End
Use, By Region, Competition Forecast & Opportunities, 2013 - 2023” has analyzed the potential of automotive adaptive cruise control in
world, and provides statistics and information on market sizes, shares
and trends. The report will suffice in providing the intending clients with
cutting-edge market intelligence and help them in taking sound investment
decisions. Besides, the report also identifies and analyzes emerging trends
along with essential drivers and key challenges faced by the automotive adaptive cruise control market
across globe.
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