PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1532843
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1532843
Adaptive Cruise Control (ACC) and Blind Spot Detection (BSD) Market size was valued at USD 4,154.2 Million in 2023, expanding at a CAGR of 15.90% from 2024 to 2032.
Advanced safety technologies in vehicles include adaptive cruise control (ACC) and blind spot detection (BSD), which work together to improve driving safety. ACC is a system that automatically changes the vehicle's speed to keep a safe distance from the car ahead, whereas BSD is a sensor-based detection system that warns the driver of vehicles in their blind spot. These Do technologies reduce accidents and improve overall road safety by assisting drivers in keeping safe distances and remaining aware of vehicles in their blind zones.
Adaptive Cruise Control (ACC) and Blind Spot Detection (BSD) Market- Market Dynamics
Increasing accidents fuel the control and blind spot detection market
The increasing incidence of accidents is predicted to drive future growth in the adaptive cruise control and blind spot detection markets. Increased vehicle miles driven, greater rates of distracted driving, speeding, intoxicated driving, driver weariness, infrastructure issues, and inclement weather are all contributing factors to the increase in motor vehicle accidents. Adaptive cruise control and blind spot recognition dramatically minimize accidents by increasing driver awareness, maintaining safe following distances, and alerting drivers to vehicles in their blind zones. For instance, According to the National Highway Traffic Administration, a US-based intergovernmental body, there were 42,939 fatalities from motor vehicle traffic collisions on US highways in 2021, up 10% from 39,007 in 2020. Furthermore, the predicted number of road accident injuries rose to 2.50 million in 2021, up from 2.28 million in 2020, representing a 9.4% rise. As a result, the increasing incidence of accidents pushes the adaptive cruise control and blind spot detection market.
Adaptive Cruise Control (ACC) and Blind Spot Detection (BSD) Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 15.90% over the forecast period (2024-2032)
Based on Type segmentation, Adaptive Cruise Control (ACC) was predicted to show maximum market share in the year 2023
Based on Vehicle Type segmentation, Passenger cars was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Adaptive Cruise Control (ACC) and Blind Spot Detection (BSD) Market is segmented on the basis of Type, Vehicle Type, Technology, and Region.
The market is divided into three categories based on Type: Adaptive Cruise Control (ACC) and Blind Spot Detection (BSD). Adaptive Cruise Control (ACC) is the dominant market sector. Adaptive Cruise Control systems are becoming more common in modern automobiles because of their potential to improve driving comfort and safety by automatically altering the vehicle's speed to maintain a safe distance from the vehicle ahead. ACC technology is in high demand since it provides convenience and lowers driver fatigue on lengthy trips. It is a popular feature in both luxury and mainstream vehicles, helping to drive the expansion of the Adaptive Cruise Control market segment.
The market is divided into two categories based on Vehicle Type: Passenger Cars and Commercial Vehicles. Passenger cars account for the biggest market share. Passenger cars, such as sedans, SUVs, and hatchbacks, account for a large proportion of ACC and BSD system usage. Passenger car owners are increasingly embracing modern driver assistance systems such as ACC and BSD for improved safety and convenience on everyday commutes and long trips. The need for these characteristics in passenger automobiles is increasing, owing to a greater emphasis on vehicle safety and the incorporation of innovative technologies.
Adaptive Cruise Control (ACC) and Blind Spot Detection (BSD) Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is the dominant region. North America is the leader in the adoption of modern driver assistance systems like ACC and BSD because of the strong presence of significant automobile manufacturers, technological breakthroughs, and high demand for car safety features. The legal environment in the region, as well as consumer preferences, have contributed significantly to the widespread integration of ACC and BSD systems in automobiles across North America.
The Asia-Pacific region is the fastest-growing region. The Asia Pacific market is rapidly adopting ACC and BSD systems because to factors like increased vehicle production, greater disposable income, technical developments, and a growing emphasis on vehicle safety.
The competitive landscape for Adaptive Cruise Control (ACC) and Blind Spot Detection (BSD) is dynamic, with important competitors such as Bosch, Continental AG, Delphi Technologies, Denso Corporation, and Valeo. These firms are at the forefront of creating revolutionary ACC and BSD systems to meet the increasing demand for sophisticated driver assistance technology in vehicles. The market is fiercely competitive, with competitors concentrating on research and development to improve the performance, accuracy, and reliability of ACC and BSD systems. Partnerships and cooperation with car manufacturers to apply these technologies into new vehicle models increase market competition.
In April 2021, DENSO Corporation developed sophisticated driver assistance system technology for the Lexus LS and Toyota Mirai, which were launched in Japan.
GLOBAL ADAPTIVE CRUISE CONTROL (ACC) AND BLIND SPOT DETECTION (BSD) MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Continental AG
Hella KGaA Hueck & Co.
Mobileye
Denso Corporation
Delphi Technologies PLC
Bosch
NXP Semiconductors
Infineon Technologies AG
Valeo SA
Aptiv PLC
Autoliv Inc.
Mitsubishi Electric Corporation
Hyundai Mobis
ZF Friedrichshafen AG
Magna International Inc.
Texas Instruments Incorporated
Panasonic Corporation
Samsung Electronics Co., Ltd.
Others