Market Size of Adaptive Cruise Control (ACC) And Blind Spot Detection (BSD) Industry
| Study Period | 2018 - 2028 |
| Base Year For Estimation | 2021 |
| CAGR | 15.20 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Adaptive Cruise Control & Blind Spot Detection Market Analysis
The adaptive cruise control (ACC) and blind-spot detection (BSD) market is valued at USD 3.45 billion in 2021 and is expected to reach USD 7.98 Billion by 2027 registering a CAGR of 15.2%, during the forecast period, 2022-2027.
The COVID-19 pandemic has severely impacted the automotive industry across the world. The disruptions in supply chain activities, the interruption in large-scale manufacturing, restrictions on travel, and the declining sales of vehicles during 2020, are responsible for the declining growth of the market.
Over the long term, the enactment of stringent safety regulations and the increasing vehicle safety concerns among consumers are expected to drive the market study. 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.
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. On the other hand, the increase in the sales of luxury vehicles across the world is also driving the market for ACC and BSD.
