IRVING, Texas, May 24, 2017 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the future of the global automotive ACC system market looks promising with opportunities in OEM and aftermarkets. The global automotive ACC system market is expected to reach an estimated $7.0 billion by 2022 and it is forecast to grow at a CAGR of 24.1% from 2017 to 2022. The major drivers of growth for this market are increasing luxury and premium vehicle production, rising number of accidents, government initiatives to improve fuel efficiency and safety attributes, and consumer willingness to pay for comfort and safety.
Browse 106 market data tables and 129 figures spread through 192 pages and in-depth TOC on “Global Automotive ACC System Market"
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In this market, radar, LIDAR, and sensor fusion technology are some of the major segments of automotive ACC systems. On the basis of our comprehensive research, Lucintel forecasts that the sensor fusion and radar segments are expected to show above average growth during the forecast period.
Within the global automotive ACC system market, the radar segment is expected to remain the largest market, as it is used in all types of weather and situations while LIDAR-based ACC systems do not detect and track vehicles in adverse weather conditions nor do they reliably track extremely dirty (non-reflective) vehicles, which would spur growth for this segment over the forecast period.
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Asia Pacific is expected to remain the largest market due to high vehicle production, improving economic conditions, and increasing investment by the industry players within the APAC region.
Asia Pacific and North America are expected to witness significant growth over the forecast period because of rapidly increasing demand for ACC system by the OEMs.
For business expansion, this report suggests innovation and new product development by developing such a system which provides accident-free, automated driving by giving accurate information to the driver. The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost solutions for customers.
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Emerging trends, which have a direct impact on the dynamics of the industry, include the development of fusion sensor technology in ACC and the development of ACC with eHorizon. ZF TRW Automotive Holdings Corporation, Delphi Automotive PLC, Continental AG, Robert Bosch GmbH, and Denso Corporation are the major ACC system suppliers in the global automotive ACC system market.
The study includes a forecast for the global automotive ACC system market by technology, vehicle type, end user, and region, as follows:
Automotive ACC system market by technology ($ Million and Million Units from 2011 to 2022)
- Radar
- LIDAR
- Sensor Fusion
Automotive ACC system market by vehicle Type ($ Million and Million Units from 2011 to 2022)
- Large Car
- SUV and Crossover
- Mid-size Car
- Compact/MPV/Pick-up
Automotive ACC system market by end User ($ Million and Million Units from 2011 to 2022)
- OEM
- Aftermarket
Automotive ACC system market by region ($ Million and Million Units from 2011 to 2022)
- North America
- Europe
- Asia Pacific
- Rest of the World
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This 192-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/automotive_acc_system_market_2017.aspx or helpdesk@lucintel.com
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This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the automotive ACC system market by technology (radar, LIDAR, and sensor fusion), vehicle type (large car, SUV and crossover, mid-size car, compact/MPV/pick-up), end user (OEM and aftermarket), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M & A activity has occurred in the last 5 years and what is its impact on the industry?