Press release
Autonomous Emergency Braking System Market by Product Type, Technology, Region and Forecast to 2023
Autonomous Emergency Braking System Market
Autonomous emergency braking system (AEBS) is a new safety technology increasingly being fitted to vehicles, which monitors the traffic conditions ahead and automatically brakes the car if the driver fails to respond to an emergency situation. AEB is seen by experts as an important development as the seatbelt, but rather than protecting the occupant in the event of a crash, it aims to prevent the crash happening in the first place. The application of AEBS is engaged in advanced driver assistance system (ADAS).
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AEBS uses on-board sensors, cameras, and radars to detect vehicles, pedestrians, and other obstacles. AEBS is mandatory in the U.S. and Europe to reduce fatalities. Several regulations are made by the government to reduce the road accidents. Furthermore, autonomous emergency braking system industry is witnessing increased demand for passenger vehicle registration and rise in demand for luxury vehicles.
According to a recent report published by Allied Market Research, titled, Autonomous Emergency Braking System Market by Product Type, Technology, and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global autonomous emergency braking system market was valued at $43.7 billion in 2016, and is projected to reach at $67.67 billion by 2023, growing at a CAGR of 6.7% from 2017 to 2023.
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High Adoption Rate of Advanced Emergency Braking System
Advanced emergency braking systems (AEBS) has a very high potential in case of crash avoidance & crash mitigation. basic functions of AEBS are to either avoid or at least mitigate a collision with a vehicle ahead or a stationary vehicle. This can be achieved either by warning the driver or, if applicable, by an autonomous braking of the vehicle. Systems with enhanced functions also respond on pedestrians, bicyclists, and other road users. Such advantages of AEBS are increasing its adoption rate over the globe. For instance, according to the German Automobile Club (ADAC), advanced emergency braking systems have already offered for about 85% of all passenger car models that are available in Germany. In addition, the European general safety regulation has already made AEBS mandatory for commercial vehicles (with the exemption of category N1) as well as for buses and coaches.
Key Benefits:
This study comprises analytical depiction of the global autonomous emergency braking system market with current trends and future estimations to depict the imminent investment pockets.
The overall autonomous emergency braking system market potential is determined to understand the profitable trends to gain a stronger foothold.
The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
The current market is quantitatively analyzed from 2017 to 2023 to highlight the financial competency of the market.
Porter’s Five Forces analysis illustrates the potency of the buyers and suppliers in the autonomous emergency braking system industry.
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Robert Bosch GmbH, Continental AG, Delphi Automotive LLP, ZF Friedrichshafen AG, Mobileye, Autoliv Inc., Hyundai Mobis, AISIN SEIKI Co., Ltd., Hitachi Automotive Systems, Ltd., and Mando Corporation are key market players that occupy a significant revenue share in the autonomous emergency braking system market.
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