Asia Pacific Adaptive Cruise Control (ACC) Market By Technology (Ultrasonic Sensors, Image Sensors, Radar Sensors, LIDAR Sensors), Product Sales (OEM, Aftermarket), End User (Consumer Cars, Commercial Vehicles)
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Market Report Description
The Asia-Pacific region includes developing countries such as China, India, and Thailand. Factors such as rising market penetration of premium cars, increasing vehicle sales and safety installations per vehicles are accelerating the demand of ACC systems. Suppliers such as Robert Bosch (Germany), Continental AG (Germany), Delphi Automotive (U.K.), Denso Corporation (Japan) are the dominant players in this region that are anticipated to drive the demand for ACC systems.
Asia Pacific is expected to be a fast growing regional market over the forecast period due to low manufacturing costs and rising auto sales in the region. The growth in Asia Pacific for ACC market is fueled by increasing penetration rate of active safety systems especially in region like China and India due to supporting macroeconomic factors such as rising income and purchasing power, changing lifestyle due to growing urbanization and increasing awareness about active safety systems.
In terms of growth rate Asia Pacific segment is projected to register highest growth in Asia-Pacific adaptive cruise control market with double digit CAGR, closely followed by China, India and South Korea. Additionally, countries like Japan and Malaysia is also forecast to register significant growth of demand in advanced driver assistance systems and is expected to account for double digit growth in terms of revenue in the Asia-Pacific adaptive cruise control market due to stringent government legislations and safety norms.
The Asia-Pacific adaptive cruise control market is bifurcated based on technology, by geography, by type of end user, and by product sales. Ultrasonic, image, radar and LIDAR are the major types of technologies available for the adaptive cruise control industry. In 2015, laser technology dominated the Asia-Pacific adaptive cruise control market with maximum share in terms of revenue.
LIDAR technology, on the other hand, would register the fastest growth during the forecast period (2016-2022). Furthermore, on the bases of product sales, the market is segmented into OEM and aftermarket. In 2015, OEM dominated the adaptive cruise control market and is further slated to dominate the market. On the basis of customer types, the Asia-Pacific adaptive cruise control market is segmented into consumer and commercial vehicles. In 2015, consumer vehicles are estimated to dominate the market in terms of revenue.
This segment would register the fastest growth during the forecast period (2016-2022). Based on countries, ACC market is segmented across China, Japan, India, South Korea, Singapore, Malaysia and Rest of APAC. Based on estimation, China has accounted for maximum revenue share in 2015. The report covers the analysis of key stake holders of the ACC market. Key companies profiled in the report include Autoliv Inc., Robert Bosch GmbH, Delphi Automotive Plc., Denso Corporation, Valeo S.A, Continental AG, Magna International Inc., Mando Corporation and Hyundai Mobis Co., Ltd.