Adaptive Cruise Control (ACC) And Blind Spot Detection (BSD) Market Size (2024 - 2029)

Adaptive Cruise Control (ACC) And Blind Spot Detection (BSD) Market Analysis

The Adaptive Cruise Control And Blind Spot Detection Market size is estimated at USD 3.58 billion in 2024, and is expected to reach USD 7.27 billion by 2029, growing at a CAGR of 15.20% during the forecast period (2024-2029).

The market for adaptive cruise control and blind spot detection has witnessed a significant surge in recent years. 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.

Additionally, the increase in the sales of luxury vehicles worldwide is also driving the market for ACC and BSD. In 2023, over 183 thousand units of luxury cars were sold worldwide, compared to 157 thousand units in 2022. This indicated a significant surge of over 16%.

Further, the enactment of stringent safety regulations and increasing vehicle safety concerns among consumers have also propelled the market for ACC and BSD. 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.

More than 90% of the market studied is captured by OEMs, with a limited and unorganized aftermarket for the blind spot detection system. Eyeing the growth opportunities present in the market, the leading players are increasingly incorporating these features in their vehicles to cater to consumer demand.

All these factors combined indicate potential growth for the ACC and BSD market during the forecast period.

Adaptive Cruise Control (ACC) And Blind Spot Detection (BSD) Industry Segmentation

Adaptive cruise control (ACC) is an advanced driver assistance system that automatically adjusts a vehicle's speed to maintain a safe following distance from the vehicle ahead. Blind spot detection (BSD) is a safety feature that uses sensors, cameras, or radar to monitor the areas around a vehicle that may not be visible to the driver.

The Adaptive cruise control (ACC) and blind spot detection (BSD) market is segmented by type, vehicle type, sales channel, technology, and geography. By type, the market is segmented into adaptive cruise control and blind spot detection. By vehicle type, the market is segmented into passenger cars and commercial vehicles. By sales channel, the market is segmented into OEM and aftermarket. By technology, the market is segmented into infrared, radar, image, and other technologies. By geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The report also provides market sizing and forecasts for all the abovementioned segments in value (USD).