Market Size of Adaptive Cruise Control (ACC) And Blind Spot Detection (BSD) Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 3.58 Billion |
| Market Size (2029) | USD 7.27 Billion |
| CAGR (2024 - 2029) | 15.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Adaptive Cruise Control (ACC) And Blind Spot Detection (BSD) Market Analysis
The Adaptive Cruise Control And Blind Spot Detection Market size is estimated at USD 3.58 billion in 2024, and is expected to reach USD 7.27 billion by 2029, growing at a CAGR of 15.20% during the forecast period (2024-2029).
The market for adaptive cruise control and blind spot detection has witnessed a significant surge in recent years. The growing awareness about vehicle safety has been one of the vital factors in the development of advanced safety systems, such as adaptive cruise control and blind-spot detection.
Additionally, the increase in the sales of luxury vehicles worldwide is also driving the market for ACC and BSD. In 2023, over 183 thousand units of luxury cars were sold worldwide, compared to 157 thousand units in 2022. This indicated a significant surge of over 16%.
Further, the enactment of stringent safety regulations and increasing vehicle safety concerns among consumers have also propelled the market for ACC and BSD. According to the World Health Organization, nearly 1.35 million people die annually due to road accidents. The cause of these accidents is mostly attributed to the driver's inability to judge certain conditions and make the right decisions. The efforts of governments to reduce fatalities due to road accidents have led to increased installation of safety systems in new vehicles.
More than 90% of the market studied is captured by OEMs, with a limited and unorganized aftermarket for the blind spot detection system. Eyeing the growth opportunities present in the market, the leading players are increasingly incorporating these features in their vehicles to cater to consumer demand.
All these factors combined indicate potential growth for the ACC and BSD market during the forecast period.
Adaptive Cruise Control (ACC) And Blind Spot Detection (BSD) Industry Segmentation
Adaptive cruise control (ACC) is an advanced driver assistance system that automatically adjusts a vehicle's speed to maintain a safe following distance from the vehicle ahead. Blind spot detection (BSD) is a safety feature that uses sensors, cameras, or radar to monitor the areas around a vehicle that may not be visible to the driver.
The Adaptive cruise control (ACC) and blind spot detection (BSD) market is segmented by type, vehicle type, sales channel, technology, and geography. By type, the market is segmented into adaptive cruise control and blind spot detection. By vehicle type, the market is segmented into passenger cars and commercial vehicles. By sales channel, the market is segmented into OEM and aftermarket. By technology, the market is segmented into infrared, radar, image, and other technologies. By geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The report also provides market sizing and forecasts for all the abovementioned segments in value (USD).
| Type | |
| Adaptive Cruise Control (ACC) | |
| Blind Spot Detection (BSD) |
| Vehicle Type | |
| Passenger Cars | |
| Commercial Vehicles |
| Sales Channel | |
| OEM | |
| Aftermarket |
| Technology | |
| Infrared | |
| Radar | |
| Image | |
| Other Technologies |
| Geography | |||||||
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Adaptive Cruise Control (ACC) And Blind Spot Detection (BSD) Market Size Summary
The adaptive cruise control (ACC) and blind spot detection (BSD) market is experiencing robust growth, driven by increasing consumer awareness of vehicle safety and the rising sales of luxury vehicles globally. The market is further propelled by stringent safety regulations and heightened concerns over road safety, which have led to the widespread adoption of advanced safety systems in new vehicles. Original Equipment Manufacturers (OEMs) dominate the market, with a significant focus on integrating these features to meet consumer demand. The passenger car segment represents the largest market share, as modern vehicles increasingly incorporate advanced driver assistance systems (ADAS) to enhance safety and driving experience. The adoption of ACC and BSD is particularly notable in passenger cars due to advancements in sensor technologies and a shift towards semi-autonomous driving features.
Regionally, Asia-Pacific is anticipated to be the fastest-growing market, fueled by rising vehicle sales and stringent safety regulations akin to those in Europe and North America. The introduction of programs like Bharat NCAP in India underscores the region's commitment to vehicle safety, further driving demand for ACC and BSD systems. The improvement in socioeconomic conditions in countries such as India, Thailand, and Indonesia is also contributing to the demand for premium passenger cars equipped with these advanced safety features. Major players in the market, including Continental AG, Hella KGaA Hueck & Co., and Mobileye, are investing in research and development to meet the increasing safety standards. The market's consolidation is evident as these companies continue to innovate and expand their offerings to cater to the growing demand for ADAS-equipped vehicles.
Adaptive Cruise Control (ACC) And Blind Spot Detection (BSD) Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.1.1 The Increasing Concern of Consumers Toward Vehicle Safety is Driving the Market
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1.2 Market Restraints
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1.2.1 High Initial Installation Costs of ACC and BSD Act as a Major Challenge
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1.3 Industry Attractiveness - Porter's Five Forces' Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Value in USD Billion)
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2.1 Type
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2.1.1 Adaptive Cruise Control (ACC)
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2.1.2 Blind Spot Detection (BSD)
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2.2 Vehicle Type
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2.2.1 Passenger Cars
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2.2.2 Commercial Vehicles
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2.3 Sales Channel
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2.3.1 OEM
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2.3.2 Aftermarket
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2.4 Technology
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2.4.1 Infrared
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2.4.2 Radar
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2.4.3 Image
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2.4.4 Other Technologies
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2.5 Geography
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2.5.1 North America
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2.5.1.1 United States
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2.5.1.2 Canada
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2.5.1.3 Mexico
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2.5.1.4 Rest of North America
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2.5.2 Europe
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2.5.2.1 Germany
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2.5.2.2 United Kingdom
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2.5.2.3 France
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2.5.2.4 Spain
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2.5.2.5 Rest of Europe
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2.5.3 Asia-Pacific
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2.5.3.1 China
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2.5.3.2 Japan
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2.5.3.3 India
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2.5.3.4 South Korea
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2.5.3.5 Rest of Asia-Pacific
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2.5.4 Rest of the World
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2.5.4.1 Brazil
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2.5.4.2 Argentina
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2.5.4.3 Other Countries
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Adaptive Cruise Control (ACC) And Blind Spot Detection (BSD) Market Size FAQs
How big is the Adaptive Cruise Control And Blind Spot Detection Market?
The Adaptive Cruise Control And Blind Spot Detection Market size is expected to reach USD 3.58 billion in 2024 and grow at a CAGR of 15.20% to reach USD 7.27 billion by 2029.
What is the current Adaptive Cruise Control And Blind Spot Detection Market size?
In 2024, the Adaptive Cruise Control And Blind Spot Detection Market size is expected to reach USD 3.58 billion.
