The incidence of road accidents is growing across the globe, and it can be curtailed by integrating adaptive cruise control systems in vehicles. Road accidents are one of the prime causes of deaths across the world, claiming over 1.3 million lives each year, as per the World Health Organization (WHO). Globally, Africa registers the most road-traffic-related accidents, whereas the Asia-Pacific (APAC) region accounts for the second-highest cases of road accidents. To reduce their incidence, the demand for safety and comfort features has increased notably in the automobile industry, especially since numerous governments have made them mandatory.
Currently, most ACC systems are installed in passenger cars due to the rise in the disposable income of people and escalation in the demand for premium and luxury cars. In addition, the stringent fuel efficiency norms and safety measures laid down by governments in numerous countries are augmenting the adoption of such systems in passenger cars. Apart from making vehicles and road safer, these systems also allow cars to adhere to the environmental norms of governments and international regulatory bodies, by conserving fuel.
Furthermore, automobile producers are integrating advanced electronic components in vehicles to improve their performance.Manufacturers are adopting electronics and information and communicationtechnology (ICT) in their offerings due to the rapid digitization in the overall vehicle driving process. The installation of adaptive cruise control system is a part of this shift. To get a better result in preventing accidents, original equipment manufacturers (OEMs) are installing these advanced systems in vehicles during the production process itself. For instance,models such as Ford Fusion, Volkswagen Polo, and Chevrolet Volt are equipped with adaptive cruise control systems.
During the forecast period, the North Americanadaptive cruise control marketis expected to showcase the fastest growth due to the implementation of strict safety norms in the region. Moreover, the increasing installation of these systems is an outcome of the growing concerns among consumers regarding road safety. To enhance the awareness among consumers, the National Highway Traffic Safety Administration (NHTSA) of the U.S. has initiated the United States New Car Assessment Program (USNCAP). Additionally, the advancements in safety features will enhance the rating of adaptive cruise systems, encouraging more people to go for them.
For instance, Bosch and TomTom, in June 2017, introduced a high-definition (HD) map with integrated radar road signature, which allows autonomous vehicles to determine their location on roads, accuratelyto a few centimeters. Moreover, automotive component and technology providers are adopting acquisitions and mergers to enhance their presence in the vehicle connectivity market and offer better safety features. For example, Delphi Automotive PLC complete the acquisitionof Movimento in January 2017 to integrate data management system and over-the-air (OTA) software in vehicles.
Thus, the intensifying need for safety features in vehicles and amplifying support from the government will augment the adoption of adaptive cruise control systems in the foreseeable future.
