Automatic Emergency Braking Market: Competitive Insights, Trends and Demand Growth 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 rapidly increasing focus toward reducing road accidents and improving occupant & pedestrian safety will extensively drive automatic emergency braking market growth in the coming years. An advanced safety feature that uses a combination of forward-looking sensors, automatic braking system, and driver alerts, AEB warns drivers about impending collisions. The system effectively improves driving confidence as it allows drivers to gain control over the vehicle by reducing speed or in some cases, offers time to steer off to avoid crash.
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The rising number of road accidents mainly in developed countries with fast highway lanes is a major factor that will boost the product’s adoption. According to the U.S. Department of Transportation’s National Highway Traffic Safety Administration (NHTSA), in 2017, around 37,133 people lost their lives in a motor vehicle collision. This can significantly be reduced by using AEB equipped vehicles.
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.
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. Indeed, AEM industry size from electric & hybrid vehicles is slated to grow at a CAGR of 20% by 2024.
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 market.
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.
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Some Point from Table of Contents:
Chapter 4 Automatic Emergency Braking Market, By Brake
4.1 Global automatic emergency braking market share by brake, 2017 & 2024
4.2 Disc
4.2.1 Market estimates and forecast, 2013 – 2024, (Thousand Units) (USD Million)
4.2.2 Market estimates and forecast, by region, 2013 – 2024, (Thousand Units) (USD Million)
4.3 Drum
4.3.1 Market estimates and forecast, 2013 – 2024, (Thousand Units) (USD Million)
4.3.2 Market estimates and forecast, by region, 2013 – 2024, (Thousand Units) (USD Million)
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 Automatic emergency braking 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)
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