The rising prevalence of road accidents is one of the major factors fueling the demand for adaptive cruise control across the world. Road accidents are one of the biggest causes of deaths in various countries and regions. Africa and Asia-Pacific (APAC) record the highest and the second-highest occurrence of road crashes in the world respectively. Due to the growing incidence of road accidents, the demand for advanced safety features and systems such as adaptive cruise control is rising rapidly.
As a result, automakers all over the globe are increasingly adopting these systems in their vehicles. Furthermore, the governments and regulatory bodies in various countries and regions such as those in North America and Europe are implementing strict vehicle safety policies and regulations that mandate the installation of safety systems such as adaptive cruise control in vehicles. In addition to this, various trade unions and associations are encouraging the integration of adaptive cruise control systems in automobiles.
Lidar, laser, ultrasonic, and radar are the most commonly used types of technologies in adaptive cruise control systems. Out of these, the usage of the lidar technology is predicted to rise rapidly across the world in the coming years. The laser technology is also predicted to witness sharp rise in popularity in the forthcoming years. Light commercial vehicles and passenger cars are the two main application areas of adaptive cruise control systems.
Between these, passenger cars are predicted to witness faster rise in the integration of these systems in the coming years. This would be because of the surging disposable income of people and the subsequent boom in the sales of luxury and premium cars across the globe. Additionally, various governments are enacting initiatives for improving the fuel efficiency and safety of passenger cars. This is further boosting the global demand for adaptive cruise control systems.
Geographically, the adaptive cruise control market is predicted to exhibit the fastest growth in North America in the forthcoming years. This is credited to the rising enactment of strict safety regulations and norms regarding vehicular safety in the regional countries. For instance, theUnited States New Car Assessment Program (USNCAP) launched by the National Highway Traffic Safety Administration (NHTSA) has massively raised the public awareness about vehicle safety systems in the country.
Thus, it is safe to say that the demand for adaptive cruise control systems would shoot-up all over the world in the upcoming years, primarily because of the increasing incidence of road accidents and the growing implementation of strict vehicle safety regulations and policies in various countries around the world.