2014-03-18 08:11:03 - Global Adaptive Cruise Control Market 2014-2018 - a new market research report on companiesandmarkets.com
The Global Adaptive Cruise Control market is to grow at a CAGR of 15.8 percent over the period 2014-2018. One of the key factors contributing to this market growth is the increased adoption by tourist vehicles. The Global Adaptive Cruise Control market has also been witnessing the increased emphasis on price reduction. However, the increased complexity could pose a challenge to the growth of this market.
One of the major trends in the Global Adaptive Cruise Control market is the growing focus on reducing the price in order to cater to the needs of low and mid-segment vehicle users. Hence, the market is expected to witness the increasing penetration of ACC systems in the Low-cost Cars segment in the coming years.
Suppliers such as Continental and Robert Bosch are working closely with OEMs to develop low-cost systems for the Medium-sized Cars and Compact Cars segments. This is because these are the segments that will help vendors attain economies of scale and reduce the price of ACC systems.
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