According to Stratistics MRC, the Global Adaptive Cruise Control System is accounted for $XX million in 2015 and is expected to reach $XX million by 2022 growing at a CAGR of XX% from 2015 to 2022. The rising demand for accidents due to increase in traffic is the primary factor favouring the market. Furthermore, increasing disposable incomes, greater sales of premium and luxury cars, increasing use of sensors, government initiatives to improve fuel efficiencies and safety attributes of vehicles are the drivers for Adaptive Cruise Control Market. However, high cost of product is major restrain limiting the market growth.
The Adaptive Cruise Control system market faces the challenge in the regions with higher intensity of fog, rainfalls and snowfalls conditions.
Asia Pacific region accounted for the overall growth in the Adaptive Cruise Control System market. The factors such as rising demand of premium and luxury cars in this region are valuable to the overall growth of the global adaptive cruise control system market. Europe is the region which is a major market to the product and is home for the major suppliers of adaptive cruise control systems.
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Some of the key players in the market include Denso Corporation, Magna International Inc., Mando Corporation, Valeo SA, TRW Automotive, Autoliv Inc., Hyundai Mobis Co. Ltd., Robert Bosch GmBH, Delphi Automotive PLC, Continental AG, Delco Electronics, Hitachi Ltd., Nissan motor Company, Siemens VDO and Bendix.
Vehicle Types Covered:
o Luxury cars
o Mid-range cars
o Premium cars
o Rest of Europe
o New Zealand
o Rest of Asia Pacific
Rest of the World
o Middle East
o South Africa
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