A vehicular control system includes a camera disposed at a vehicle and having a field of view exterior of the vehicle. Data is wirelessly transmitted from the vehicle to a data cloud. An image processor processes image data captured by the camera to detect objects present within the field of view of the camera. Data is wirelessly received at the vehicle from the data cloud concerning a potential hazard existing exterior of the vehicle that has not yet been detected via processing by the image processor of image data captured by the camera. Responsive at least in part to the vehicular control system detecting the potential hazard via the image processor processing image data captured by the camera, the vehicular control system controls at least one vehicle function of the vehicle to mitigate collision with the potential hazard.