Global Adaptive Cruise Control Systems Market to Reach 5.2 Million Units by 2015, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on adaptive cruise control systems market. Although the prolonged severity of the economic slowdown and depressed automotive industry have elicited declines in sales of adaptive cruise control (ACC) systems, the market is nevertheless expected to recover poise in the medium-to-long term period to reach 5.2 million units by 2015. Growth in the market will be driven by increase in automobile production, as a result of post recession resurgence in consumer demand for new cars, including high-end expensive cars, scheduled development and roll out of new feature-rich vehicle models, and growing consumer awareness on safety. Rising demand for new cars from developing nations, particularly Asia-Pacific also augur well for the market.

Adaptive Cruise Control Systems: A Global Strategic Business Report

With the rise in vehicle ownership and the ensuing increase in number of vehicle miles traveled, automobile accidents not surprisingly are on the spiral. Speed and crash are inseparable in the world of road transport. The number of crashes per total vehicle distance traveled is steadily increasing, especially in developing countries where lack of road infrastructure to absorb increasing vehicular traffic compounds the risk of road fatalities. Poor cognitive skills and inattention to external stimuli such as oncoming traffic, pedestrians, and changes in road terrain are often triggerents for a crash/collusion. The advancement in the technological front to quell the possible collisions with other vehicles is considered as a major revolution in the annals of the automobile industry. In this regard, adaptive cruise control systems have hit the roads. Intelligent automotive safety technologies like Adaptive Cruise Control (ACC) take the human error out of the equation by communicating with the external environment, surroundings to recognize critical traffic situations, to either alert the driver or automatically initiate vehicle control application systems like braking systems, and cruise control, among others. ACC systems harbor the potential to reduce the number of accidents by over 50% by minimizing accidents arising out of lane mergers, sudden deceleration by the vehicle ahead (rear-end collision), and slackness on the part of driver, among others. Consumers’ increased emphasis on safety has and will continue to catalyze the evolution of the ACC technology.

With vehicle sales nose-diving, shockwaves that ripped through the automobile industry was faithfully transmitted to the auto parts, components and accessories markets. All of the factors that brought down the automotive industry also played instrumental roles in dragging down growth in the Adaptive Cruise Control (ACC) Systems sub-segment of the auto industry. The trickle down impact of the depressing business climate in the automotive industry on the adaptive cruise control systems market is reflected in the decline in the market’s growth rates. The unusually pronounced length, depth and magnitude of the current recession sent ripples of unrest across the entire automotive value chain, including the market for ACC systems, which represents one of the key safety components of an automobile. The fact that ACC systems are currently a more predominant feature of luxury cars than mid-range segment, makes the ACC systems market all the more vulnerable to the economic recession. ACC systems although still offer a sturdy value proposition from a technology standpoint have lost their popularity due to a host of aforementioned macro economic reasons. Financial hardships have, additionally, resulted in consumers trading down to small and medium sized cars, in comparison to light trucks and SUVs. With the passion for SUVs, and luxury cars cooling down, burning demand for ACC systems has been left to simmer down on dying embers during the years 2008 and 2009.

However, with the recession now having played out its part in full proportions and the automotive industry hitting rock bottom, the worst is now over and a rebound is seen as inevitable. A quick resurgence in growth fundamentals, post recession, such as recovery in GDP growth, employment rates, incomes levels and discretionary incomes, and rise in consumer confidence, will help drive increased demand for new cars, including high-end expensive cars over the next few years. Stimulus packages offered will additionally drive increased vehicle production and scheduled development and roll out of new vehicle models, including alternative vehicles. All of these factors translate into increased business opportunities for ACC systems in the OEM segment. Also, scheduled development and roll out of new vehicle models, including alternative vehicles, will create a need to replenish inventories. Most cars scheduled for roll out during this period will come high on safety features, thereby driving growth of ACC systems. With efforts to integrate ACC systems into mid-range cars high on the priority list of many a manufacturer, optimism prevails over future growth opportunities in the market. Further, regular revision of federal standards which forces automobile manufacturers to intensify their efforts on enhancing their safety systems and introduce into the market ahead of regulations, and most importantly ahead of competitors in order to gain that edge in the marketplace, augurs well for the market.

As stated by the new market research report, Japan continues to remain the largest regional market for ACC Systems. Crowded roads, high safety awareness, and significant research activity taken up by leading automotive players in the nation have been driving the Japanese market for ACC systems. passenger cars market represents the largest end-use segment for ACC systems, accounting for a lion’s share of the market. Commercial Vehicles segment is the fastest growing end-use market, displaying a CAGR of 9.5% over the analysis period.

Major players in the marketplace include Autoliv Inc, Continental AG, Delphi Corporation, Denso Corporation, Hitachi Ltd., Nissan Motor Company, Robert Bosch GmbH, TRW Automotive Holdings Corp., Autocruise, WABCO Belgium BVBA, and select component suppliers such as e2v Technologies (UK), M/A-COM Technology Solutions, Omron Corporation, among others

The research report titled “Adaptive Cruise Control Systems: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. End-Use segments analyzed include passenger cars and commercial vehicles. Data analysis is presented for all major geographic markets including the United States, Canada, Japan, Europe, and Rest of World.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Adaptive_Cruise_Control_Systems_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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