LAMEA 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 adaptive cruise control market in LAMEA is dominated by Brazil, Argentina, Saudi Arabia and South Africa. Nigeria is a developing market and is expected to pick up pace for high end cars and hence increase in sales numbers of adaptive cruise control systems. Rising interest of consumers with respect to high end cars coupled with advanced safety features will drive the growth for adaptive cruise control systems. Brazil has already implemented new safety regulations to curb road accidents in 2014. These regulations enforce car makers to provide ABS and Airbags as standard in cars. With the country taking road safety as priority s further going to make stringent policies to decrease road fatalities. Car makers have a good opportunity to offer cost effective adaptive cruise control systems in Brazil. Increasing number of road accidents, rising disposable income in developing economies and advancement in research and technology is driving the growth for these systems.
The LAMEA 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 LAMEA adaptive cruise control market with maximum share in terms of revenue. LIDAR technology on the other hand would register 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 LAMEA 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 fastest growth during the forecast period (2016-2022).
Based on countries, ACC market is segmented across UAE, Saudi Arabia, Brazil, Argentina, South Africa, Nigeria and Rest of LAMEA. 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.