The global adaptive cruise control (ACC) and blind-spot detection (BSD) market revenue was around US$ 3.97 billion in 2022 and is estimated to reach US$ 14.1 billion by 2031, growing at a compound annual growth rate (CAGR) of 15.2% during the forecast period from 2023 to 2031.
Adaptive cruise control is an intelligent cruise control that automatically accelerates and decelerates to catch up with the car. The driver sets the highest speed as in cruise control. The radar sensor then monitors the traffic ahead, locks the vehicle in the road, and conveys the vehicle to wait a few seconds or four seconds behind the passenger vehicle in front.
Blind spot detection uses sensors mounted on the rear bumper or side mirrors to detect vehicles on adjacent roads. When sensors detect something, they warn you with a visual and audible alert. Some vehicles use the camera as the main element of the system or in addition to the sensors.
Market Driving Factors
The surge in the incidence of road accidents is estimated to propel the demand for blind spot detection (BSD) and adaptive cruise control (ACC) systems. These systems use sensors to alert and detect the driver of vehicles in blind spots to control accidents by providing auditory or visual warnings. This result encourages drivers to embrace d adaptive cruise control systems and blind spot detection systems in vehicles to avoid road accidents, which boosts the market growth. For instance, in June 2022, according to a report released by the World Health Organisation, almost 1.3 million individuals worldwide die every year as a result of traffic accidents.
Increasing strict government regulations to install adaptive cruise control systems and blind spot detection systems in vehicles are anticipated to drive the market growth. Governments around the world are mandating the installation of ACC and BSD in all new commercial and passenger vehicles to enhance road safety and lower traffic accidents. For instance, in July 2022, according to a report released by the European Union, all vehicles should have blind spot systems and reverse detection systems with sensors and cameras to avoid collisions.
The incapability of blind spot detection systems for accurate detection of roads at heights is estimated to restrain the market.
Regional Analysis
North America dominated the market and is estimated to continue its dominance over the forecast period. This can be attributed to the existence of key market players such as General Motors, Lear Corp, and Tenneco Inc. In addition, increasing road accidents in the region are encouraging automobile manufacturers and governments to require the installation of adaptive cruise control (ACC) systems and blind spot detection (BSD) systems to avoid and lower road accidents. For instance, in April 2023, according to a report released by the National Highway Traffic Safety Administration, there were 42,795 fatal car accidents in the US in 2022.
Segmentation Insights
Type Insight
The blind spot detection (BSD) segment dominates the market. This is due to that this segment checks the side and rear mirrors and looks out over each shoulder to assist traffic before changing routes. In addition, the vehicle's blind spots are a constant source of risk and frequently result in major accidents, even for those who undertake this set of checks. Blind spot detection alerts drivers of impending collisions to make lane changes safer, which drives the market expansion.
Vehicle Type Insight
The passenger car segment holds a large number of shares in the market. This is because of the strict government restrictions on equipping vehicles with ACC systems. In addition, the surge in global automotive production is also one of the critical elements in maintaining the advantage of this segment.
The commercial vehicles segment is estimated to dominate the market. This is due to the lower in accidents as the BLD and ACC assist the driver to control their vehicle. Commercial vehicle drivers feel fatigued owing to irregular working hours, which raises the probability of accidents.
In addition, BLD and ACC aid drivers by adapting the vehicle's speed according to the traffic flow and maintaining a safe and appropriate distance from other vehicles. This feature of the BLD improves the convenience and comfort of drivers which allows them to better focus on the traffic situation. These advantages are promoting commercial vehicle customers to adopt ACC and BLD technology.
Prominent Companies
Segmentation Outline
The global adaptive cruise control (ACC) and blind-spot detection (BSD) market segmentation focuses on Type, Vehicle Type, Sales Channel, Technology, and Region.
By Type
By Vehicle Type
By Sales Channel
By Technology
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL ADAPTIVE CRUISE CONTROL (ACC) AND BLIND-SPOT DETECTION (BSD) MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: ADAPTIVE CRUISE CONTROL (ACC) AND BLIND-SPOT DETECTION (BSD) MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL ADAPTIVE CRUISE CONTROL (ACC) AND BLIND-SPOT DETECTION (BSD) MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL ADAPTIVE CRUISE CONTROL (ACC) AND BLIND-SPOT DETECTION (BSD) MARKET, BY TYPE
5.1 OVERVIEW
5.2 ADAPTIVE CRUISE CONTROL (ACC)
5.3 BLIND SPOT DETECTION (BSD)
6 GLOBAL ADAPTIVE CRUISE CONTROL (ACC) AND BLIND-SPOT DETECTION (BSD) MARKET, BY VEHICLE TYPE
6.1 OVERVIEW
6.2 PASSENGER CARS
6.3 COMMERCIAL VEHICLES
7 GLOBAL ADAPTIVE CRUISE CONTROL (ACC) AND BLIND-SPOT DETECTION (BSD) MARKET, BY SALES CHANNEL
7.1 OVERVIEW
7.2 OEM
7.3 AFTERMARKET
8 GLOBAL ADAPTIVE CRUISE CONTROL (ACC) AND BLIND-SPOT DETECTION (BSD) MARKET, BY TECHNOLOGY
8.1 OVERVIEW
8.2 INFRARED
8.3 RADAR
8.4 IMAGE
8.5 OTHERS
9 GLOBAL ADAPTIVE CRUISE CONTROL (ACC) AND BLIND-SPOT DETECTION (BSD) MARKET, BY GEOGRAPHY
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 NORTH AMERICA MARKET SNAPSHOT
9.2.2 U.S.
9.2.3 CANADA
9.2.4 MEXICO
9.3 EUROPE
9.3.1 EUROPE MARKET SNAPSHOT
9.3.2 WESTERN EUROPE
9.3.2.1 THE UK
9.3.2.2 GERMANY
9.3.2.3 FRANCE
9.3.2.4 ITALY
9.3.2.5 SPAIN
9.3.2.6 REST OF WESTERN EUROPE
9.3.3 EASTERN EUROPE
9.3.3.1 POLAND
9.3.3.2 RUSSIA
9.3.3.3 REST OF EASTERN EUROPE
9.4 ASIA PACIFIC
9.4.1 ASIA PACIFIC MARKET SNAPSHOT
9.4.2 CHINA
9.4.3 JAPAN
9.4.4 INDIA
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.6 ASEAN
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
9.5.2 UAE
9.5.3 SAUDI ARABIA
9.5.4 SOUTH AFRICA
9.5.5 REST OF MEA
9.6 SOUTH AMERICA
9.6.1 SOUTH AMERICA MARKET SNAPSHOT
9.6.2 BRAZIL
9.6.3 ARGENTINA
9.6.4 REST OF SOUTH AMERICA
10 GLOBAL ADAPTIVE CRUISE CONTROL (ACC) AND BLIND-SPOT DETECTION (BSD) MARKET COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 COMPANY MARKET RANKING
10.3 KEY DEVELOPMENT STRATEGIES
10.4 COMPETITIVE DASHBOARD
10.5 PRODUCT MAPPING
10.6 TOP PLAYER POSITIONING, 2022
10.7 COMPETITIVE HEATMAP
10.8 TOP WINNING STRATEGIES
11 COMPANY PROFILES
11.1 CONTINENTAL AG
11.1.1 OVERVIEW
11.1.2 FINANCIAL PERFORMANCE
11.1.3 PRODUCT OUTLOOK
11.1.4 KEY DEVELOPMENTS
11.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.2 DELPHI TECHNOLOGIES PLC
11.2.1 OVERVIEW
11.2.2 FINANCIAL PERFORMANCE
11.2.3 PRODUCT OUTLOOK
11.2.4 KEY DEVELOPMENTS
11.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.3 DENSO CORP
11.3.1 OVERVIEW
11.3.2 FINANCIAL PERFORMANCE
11.3.3 PRODUCT OUTLOOK
11.3.4 KEY DEVELOPMENTS
11.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.4 AUTOLIV INC
11.4.1 OVERVIEW
11.4.2 FINANCIAL PERFORMANCE
11.4.3 PRODUCT OUTLOOK
11.4.4 KEY DEVELOPMENTS
11.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.5 MAGNA INTERNATIONAL
11.5.1 OVERVIEW
11.5.2 FINANCIAL PERFORMANCE
11.5.3 PRODUCT OUTLOOK
11.5.4 KEY DEVELOPMENTS
11.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.6 WABCO VEHICLE CONTROL SERVICES
11.6.1 OVERVIEW
11.6.2 FINANCIAL PERFORMANCE
11.6.3 PRODUCT OUTLOOK
11.6.4 KEY DEVELOPMENTS
11.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.7 ROBERT BOSCH GMBH
11.7.1 OVERVIEW
11.7.2 FINANCIAL PERFORMANCE
11.7.3 PRODUCT OUTLOOK
11.7.4 KEY DEVELOPMENTS
11.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.8. ZF FRIEDRICHSHAFEN AG
11.8.1 OVERVIEW
11.8.2 FINANCIAL PERFORMANCE
11.8.3 PRODUCT OUTLOOK
11.8.4 KEY DEVELOPMENTS
11.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.9 BENDIX COMMERCIAL VEHICLE SYSTEMS LLC
11.9.1 OVERVIEW
11.9.2 FINANCIAL PERFORMANCE
11.9.3 PRODUCT OUTLOOK
11.9.4 KEY DEVELOPMENTS
11.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.10 MOBILEYE
11.10.1 OVERVIEW
11.10.2 FINANCIAL PERFORMANCE
11.10.3 PRODUCT OUTLOOK
11.10.4 KEY DEVELOPMENTS
11.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.11 MANDO-HELLA ELECTRONICS CORP
11.11.1 OVERVIEW
11.11.2 FINANCIAL PERFORMANCE
11.11.3 PRODUCT OUTLOOK
11.11.4 KEY DEVELOPMENTS
11.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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