Automatic Emergency Braking Market: Business Opportunities, Leading Players, Trends Outlook Up to 2024
The size of Automatic emergency braking market was registered at USD 6.5 billion in the year 2017 and is anticipated to cross USD 20 billion by 2024. Between the period 2018-2024, the market is expected to register a CAGR of 14.5%.
The DBS technology actively improves braking capacity mainly when a driver fails to put adequate force on the brake pedal. By electronically monitoring the driver’s brake applying speed and pressure, the system recognizes an emergency braking scenario and takes adequate measures. The increasing adoption of these systems in the event of a possible collision will augment the AEB market proliferation over the years ahead. Furthermore, the reduced effect on brakes pads and tires owing to uniform brake application will also accelerate the industry expansion.
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Automatic emergency braking market size from electric & hybrid vehicles is slated to grow at a CAGR of 20% by 2024. Rising commercial car sales will significantly contribute to the industry expansion as well. Nowadays automakers are mainly focusing on vehicle safety by equipping crash avoidance technology in numerous vehicles. Even electric & hybrid car makers including EV major Tesla are offering crash avoidance technology as a standardized feature in their vehicles.
The expanding automotive industry will also add a noticeable stimulus to the automatic emergency braking market. According to reliable statistics, the automotive industry was estimated to sell nearly 78.6 million passenger vehicles in 2017. In terms of production and sales, China and the United States are among the leading countries in the automotive industry with 6.9 million passenger cars having been sold in the U.S. alone in 2016.
Automatic emergency braking market has been gaining increasing traction in the recent years, primarily due to the rising concern and awareness regarding the death toll due to traffic injuries. However, the surging emergence of autonomous vehicles has also been majorly responsible for the expansion of this vertical. For instance, at the 2019 Consumer Electronics Show, Intel’s subsidiary that develops driver assistance systems, announced that it will be supplying two China based companies with tools that would help in the development of driverless cars. But for driverless cars to become a reality, automatic preventive braking, which is an enhanced version of automatic emergency braking, have to be fully functional and installed on driverless vehicles.
Speaking of the geographical terrain, it is vital to state that Europe is likely to emerge as one of the most prominent regional grounds for the AEM industry. As a matter of fact, Europe is anticipated to account for around 50% of the automatic emergency braking market share, in terms of volume, by 2024, particularly on account of the presence of prominent industry contenders such as Volkswagen, BMW, and Mercedes Benz in the region. Notable for manufacturing innovative AEB solutions, these companies have a pivotal role to play in the proliferation of the Europe automatic emergency braking industry.
Using advanced radar and camera sensors, AEB systems effectively detect an object in the front of the vehicle. The system alerts drivers and automatically applies brakes in case of impending collisions. Driven by a stringent regulatory landscape that mandates the installation of safety systems in vehicles, the global automatic emergency braking market is expected to evolve as one of the most remunerative spheres across the globe by 2024.
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Some Point from Table of Contents:
Chapter 5 Automatic Emergency Braking Market, By Vehicle
5.1 Global automatic emergency braking market share by vehicle, 2017 & 2024
5.2 ICE
5.2.1 Market estimates and forecast, 2013 – 2024, (Thousand Units) (USD Million)
5.2.2 Market estimates and forecast, by region, 2013 – 2024, (Thousand Units) (USD Million)
5.2.3 Passenger cars
5.2.3.1 Market estimates and forecast, 2013 – 2024, (Thousand Units) (USD Million)
5.2.3.2 Market estimates and forecast, by region, 2013 – 2024, (Thousand Units) (USD Million)
5.2.4 LCV
5.2.4.1 Market estimates and forecast, 2013 – 2024, (Thousand Units) (USD Million)
5.2.4.2 Market estimates and forecast, by region, 2013 – 2024, (Thousand Units) (USD Million)
5.2.5 HCV
5.2.5.1 Market estimates and forecast, 2013 – 2024, (Thousand Units) (USD Million)
5.2.5.2 Market estimates and forecast, by region, 2013 – 2024, (Thousand Units) (USD Million)
5.3 Electric & hybrid vehicle
5.3.1 Market estimates and forecast, 2013 – 2024, (Thousand Units) (USD Million)
5.3.2 Market estimates and forecast, by region, 2013 – 2024, (Thousand Units) (USD Million)
Chapter 6 Automatic Emergency Braking Market, By Technology
6.1 Global automatic emergency braking market share by technology, 2017 & 2024
6.2 Crash imminent braking
6.2.1 Market estimates and forecast, 2013 – 2024, (USD Million)
6.2.2 Market estimates and forecast, by region, 2013 – 2024, (USD Million)
6.3 Dynamic brake support
6.3.1 Market estimates and forecast, 2013 – 2024, (USD Million)
6.3.2 Market estimates and forecast, by region, 2013 – 2024, (USD Million)
6.4 Forward collision warning
6.4.1 Market estimates and forecast, 2013 – 2024, (USD Million)
6.4.2 Market estimates and forecast, by region, 2013 – 2024, (USD Million)
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