Adaptive Cruise Control and Blind Spot Detection Global Market Report 2024

The adaptive cruise control and blind spot detection market size has grown rapidly in recent years. It will grow from $3.33 billion in 2023 to $3.79 billion in 2024 at a compound annual growth rate (CAGR) of 13.9%. The growth observed in the historical period can be attributed to factors such as increasing traffic congestion, the integration of vehicle-to-vehicle communication technologies, trends in urbanization, the rise of vehicle electrification, and growing environmental concerns. These elements have collectively driven the adoption and development of advanced vehicle safety features.

The adaptive cruise control and blind spot detection market size is expected to see rapid growth in the next few years. It will grow to $6.42 billion in 2028 at a compound annual growth rate (CAGR) of 14.1%. The anticipated growth during the forecast period is expected to be driven by the application of these technologies in fleet management, the increasing adoption of electric vehicles (EVs), partnerships among original equipment manufacturers (OEMs), and a heightened focus on fuel efficiency. Key trends projected for this period include the broader application of these technologies in commercial vehicles, enhanced integration with advanced driver assistance systems (ADAS), the development of multi-sensor fusion systems, advancements in user interfaces, further expansion of autonomous driving features, improvements in sensor technologies, and the increased incorporation of AI and machine learning. These developments are poised to further enhance the capabilities and effectiveness of vehicle safety systems.

The adaptive cruise control and blind spot detection market is poised for growth due to the escalating number of motor vehicle accidents, driven by factors such as increased vehicle miles, higher incidences of distracted driving, speeding, impaired driving, driver fatigue, infrastructural challenges, and adverse weather conditions. These technologies enhance safety by improving driver awareness, maintaining safe following distances, and alerting drivers to vehicles in their blind spots. For example, data from the National Highway Traffic Administration in April 2023 indicated that motor vehicle traffic crash fatalities in the U.S. increased by 10% to 42,939 in 2021 from 39,007 in 2020. Furthermore, injuries from road accidents rose by 9.4% to 2.5 million in 2021 from 2.28 million in 2020. This upward trend in accidents underpins the expansion of the adaptive cruise control and blind spot detection market.

Leading enterprises in this sector are increasingly incorporating automated driving assistance technologies such as Mobileye SuperVision pilot functions to enhance their product offerings. For instance, in September 2023, ZEEKR, a China-based automobile manufacturer, integrated Mobileye SuperVision Pilot functions from Mobileye Global Inc., an Israel-based system software firm, into 110,000 of its vehicles. This upgrade employs SuperVision’s 11-camera 360° surround vision sensing capability and additional Mobileye technology, enabling the system to build an environmental model and extract semantic information such as common speed and average drivable path. The system also includes dual EyeQ systems-on-chips and 11 cameras for comprehensive vision coverage, along with REM-generated maps and an RSS-based driving policy.

In June 2023, Magna International Inc., a Canadian mobility technology company, acquired Veoneer Inc. for $1.525 billion. This acquisition aims to bolster Magna's standing in the advanced driver assistance systems (ADAS) market by broadening its product range, engineering capabilities, and client base. Veoneer Inc., headquartered in Sweden, offers adaptive cruise control and blind spot detection among its active safety system solutions.

Major companies operating in the adaptive cruise control and blind spot detection market are Honda Motor Co. Ltd., Robert Bosch GmbH, Panasonic Corporation, Denso Corporation, ZF Friedrichshafen AG, Continental AG, Hyundai Mobis, Magna International Inc., Valeo SA, Lear Corporation, Texas Instruments Incorporated, Aptiv PLC, Infineon Technologies AG, NXP Semiconductors, BorgWarner Inc., Renesas Electronics Corporation, Autoliv Inc., Hella KGaA Hueck & Co., Garmin Ltd., Visteon Corporation, Mobileye Global Inc, TomTom N.V.

Asia-Pacific was the largest region in the adaptive cruise control and blind spot detection market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the adaptive cruise control and blind spot detection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the adaptive cruise control and blind spot detection market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Adaptive cruise control (ACC) and blind spot detection (BSD) are sophisticated safety technologies in vehicles designed to improve driving safety. ACC is an automated system that adjusts the vehicle’s speed to keep a safe following distance from the vehicle in front, whereas BSD uses sensors to alert drivers to vehicles in their blind spots. Together, these features help reduce accidents and enhance road safety by assisting drivers in maintaining safe distances and increasing awareness of nearby vehicles.

The primary types of vehicle safety features are adaptive cruise control (ACC) and blind spot detection (BSD). ACC automatically modulates the vehicle’s speed to ensure a safe distance is maintained from the car ahead. This technology is implemented in different types of vehicles, such as passenger cars and commercial vehicles. ACC and BSD utilize a range of technologies including infrared, radar, and image sensors. These systems are available through various sales channels, both as original equipment manufacturer (OEM) components and aftermarket products.

The adaptive cruise control and blind spot detection market research report is one of a series of new reports that provides adaptive cruise control and blind spot detection market statistics, including adaptive cruise control and blind spot detection industry global market size, regional shares, competitors with a adaptive cruise control and blind spot detection market share, detailed adaptive cruise control and blind spot detection market segments, market trends and opportunities, and any further data you may need to thrive in the adaptive cruise control and blind spot detection industry. This adaptive cruise control and blind spot detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The adaptive cruise control and blind spot detection market consists of revenues earned by entities providing services such as lane-keeping assistance, automated speed management, safe lane changing, and collision avoidance. The market value includes the value of related goods sold by the service provider or included within the service offering. The adaptive cruise control and blind spot detection market also includes sales of infotainment systems, haptic feedback systems, driver displays, control units, camera systems, and radar sensors. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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