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April 22, 2008
Global Adaptive Cruise Control Systems Market to Exceed 5.7 Million Units by 2010, According to New Report by Global Industry Analysts, Inc.
The trend towards prevention of accidents rather than ensuring safety is driving the global automotive market for active safety systems such as adaptive cruise control systems. The global adaptive cruise control systems market is projected to reach 5.7 million units by the year 2010.
San Jose, CA (PRWEB) April 22, 2008 -- Anti-lock braking systems (ABS), collision-warning systems, and adaptive cruise control (ACC) systems are some of the active safety systems being fitted onto automobiles for preventing accidents. ACC systems mark the dawn of a new era in vehicle safety, on roads. Even though a vehicle fitted with costs an additional US$500-US$1,000, consumers are ready to dig deeper into their wallets for the extra safety provided by ACC systems. As unit costs decrease, ACC systems are expected to permeate from luxury vehicles to mass-market vehicles.
Japan leads the global adaptive cruise control systems market in terms of installations with over 70% share of global market, as stated by Global Industry Analysts, Inc. Rest of World region comprising of Asia-Pacific, Latin America, the Middle East, and Africa, is expected to offer the highest growth opportunity with a CAGR of about 59% for the period 2007-2010. In North America, ACC systems installations are relatively higher in commercial vehicles than passenger cars, while the opposite holds well for other regions. ACC systems installations in passenger cars are projected to exceed 4.7 million units by the year 2010. Installation in commercial cars is estimated to account for market share of over 13% of the total adaptive cruise control systems market in 2008.
Government regulations hold the key for development of ACC systems. The initiatives being taken by various governments across the globe to address road terrors might is expected to be the major factor that would propel the sales of ACC systems in the coming years. While the US Department of Transport and European transport authorities are promoting usage of accident prevention systems, use of radars for non-government purposes is banned in some countries. Issues such as product liability and return on investments also impede growth of ACC systems.
The report titled "Adaptive Cruise Control Systems: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of market trends, research & development, product overview, product introductions/innovations, and recent strategic corporate developments in the industry. The study also analyzes market data and analytics in volume sales for United States, Canada, Japan, Europe, and Rest of World by the following product segments - Passenger Cars and Commercial Vehicles.
Key players dominating the global adaptive cruise control systems market include Continental AG, Delphi Corporation, Denso Corporation, Hitachi, Nissan Motor, Robert Bosch, Automotive, Toyota Motor, TRW Automotive Holdings, Valeo, Visteon Corp., and WABCO.
For more details about this 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 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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Posted by Industrial-Manufacturing at April 22, 2008 01:46 AM