MarketResearchNest.com adds “Global Commercial Vehicle Cruise Control System Market 2017-2021” new
report to its research database. The report spread across 67 pages with table
and figures in it.
Research
analysts forecast the global commercial vehicle cruise control system
market to grow at a CAGR of 5.89% during the period 2017-2021.
About Commercial Vehicle Cruise Control System
Cruise control system aims at providing assistance that
spans over safety, comfort, and convenience for drivers of modern day
automobiles. The motive of a conventional cruise control system is to provide
the ability to maintain a constant speed of the vehicle. The driver should
intervene when traffic, road, or weather conditions change and determine when
it is safe to use the cruise control system or disengage. The conventional
cruise control system has been in use in commercial vehicles for more than 30
years. Governments and public safety organizations continue to inspect the
risks and benefits of using cruise control system.
Covered in this report
The report covers the present scenario and the growth
prospects of the global commercial vehicle cruise control system market for
2017-2021. To calculate the market size, the report presents a detailed picture
of the market by way of study, synthesis, and summation of data from multiple
sources.
Browse full table of contents and
data tables at https://www.marketresearchnest.com/global-commercial-vehicle-cruise-control-system-market-2017-2021.html
The market is divided into the following segments based on
geography:
Americas
APAC
EMEA
Technavio's report, Global Commercial Vehicle Cruise
Control System Market 2017-2021, has been prepared based on an in-depth market
analysis with inputs from industry experts. The report covers the market
landscape and its growth prospects over the coming years. The report also
includes a discussion of the key vendors operating in this market.
Technavio recognizes the following companies as the key
players in the global commercial vehicle cruise control system market: Delphi,
DENSO CORPORATION, Robert Bosch, and Valeo.
Other Prominent Vendors in the market are: Autoliv,
WABCO, and ZF Friedrichshafen.
Commenting on the report, an analyst from Research team
said: “One trend in the market is growing number of fatalities leading to
adoption of cruise control system. Accidents due to drowsiness are common and
frequent with drivers of commercial vehicles, especially in heavy-duty
transportation where long-haul travel is a common phenomenon. Accidents due to
drowsiness and fatigue have become a major concern for fleet operators of
commercial vehicles as well as consumers. In case of pedestrian deaths, almost
80% of all motor vehicle fatalities are due to the fault of the driver,
globally.
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According to the report, one driver in the market is
growing focus of OEMs on autonomous vehicles. OEMs are focusing on developing
autonomous vehicles, which is a key driver leading to innovation in the cruise
control system market. Population shift from rural to urban areas is considered
as one of the main factors that will attract consumers toward autonomous
driving. Personal value and demographic shifts are likely to make autonomous
vehicles as the preferred mode of transportation. Many auto manufacturers are
focused toward developing a commercially available autonomous vehicle by 2019.
It will give a big boost to the commercial vehicle cruise control market, as OEMs
will focus on developing enhanced cruise control features such as adaptive
cruise control and predictive and intelligent cruise control system.
Further, the report states that one challenge in the
market is high costs associated with cruise control system. The high costs
associated with the procurement and maintenance of technologies and systems,
such as radars, cameras, sensors, and sensitive and complex image analysis
algorithms, have increased the price of cruise control system and limited its
use to the developed market. OEMs are reluctant to equip their vehicles with
cruise control system, as it will significantly increase the price of the
vehicle. Since consumers in APAC are price-sensitive, OEMs are not equipping
their vehicles with cruise control system. As the technology matures, OEM will
start equipping more vehicles with the cruise control system.
The study was conducted using an objective combination of
primary and secondary information including inputs from key participants in the
industry. The report contains a comprehensive market and vendor landscape in
addition to a SWOT analysis of the key vendors.
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Buying at https://www.marketresearchnest.com/enquirybuy.php?reportid=280842
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