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Autonomous Emergency Braking System (AEBS) Global Market Report 2024 - By Trends, Drivers, Growth, Demand, Forecast To 2033
Autonomous Emergency Braking System (AEBS) Market
The autonomous emergency braking system (aebs) market size is expected to see exponential growth in the next few years. It will grow to $84.58 billion in 2028 at a compound annual growth rate (CAGR) of 21.8%. The growth in the forecast period can be attributed to global harmonization of safety standards, integration into autonomous vehicle ecosystems, mandatory inclusion in vehicle safety ratings, urbanization and congestion management, insurance industry collaboration.. Major trends in the forecast period include integration with advanced sensor technologies, adoption of artificial intelligence (ai) algorithms, enhanced cyclist detection and avoidance capabilities, integration of vehicle-to-everything (v2x) communication..
Market Overview -
The autonomous emergency braking system (AEBS) is a safety feature in vehicles that automatically detects potential collisions and applies the brakes to prevent or mitigate the impact, reducing the severity of accidents. It uses sensors and advanced algorithms to assess the situation and take action when necessary to enhance driver and passenger safety.
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Surging Demand for Luxury Vehicles Fuels Growth in the Autonomous Emergency Braking System (AEBS) Market
The increasing demand for luxury vehicles is expected to propel the growth of the autonomous emergency braking system (AEBS) market going forward. Luxury vehicles are high-end automobiles known for their superior comfort, advanced features, and premium materials, often designed to provide a luxurious and prestigious driving experience. Luxury vehicles often incorporate advanced autonomous emergency braking systems, enhancing safety by automatically applying brakes in critical situations and prioritizing driver and passenger well-being. For instance, in July 2023, according to the financial reports published by BMW AG, a Germany-based luxury automaker, BMW brand sales in the U.S. increased 11.5% in Q2 2023 from Q2 2022. In the second quarter of 2023, BMW brand sales in the U.S. totaled 87,948 vehicles, an 11.5% increase from the 78,905 vehicles sold in the second quarter of 2022. Furthermore, in December 2022, according to Cox Automotive, a US-based automotive services company, the share of luxury vehicles in overall sales increased to 18.2% in November 2022 from 17.8% in October 2022, remaining historically high. Therefore, increasing demand for luxury vehicles is driving the growth of the autonomous emergency braking system (AEBS) market.
Competitive Landscape -
Major companies operating in the autonomous emergency braking system (aebs) market report are General Motors Company, Mitsubishi Electric Corporation, Robert Bosch GmbH, Hitachi Ltd., DENSO Corporation, ZF Friedrichshafen AG, Continental AG, Hyundai Mobis Co. Ltd., Magna International Inc., Aisin Corporation, PACCAR Inc., Faurecia SE, Toshiba Corporation, Valeo SA, Aptiv PLC, Nidec Automotive Components, BorgWarner Inc., Samsung SDI, Infineon Technologies AG, Renesas Electronics Corporation, Autoliv Inc., NSK Ltd., Knorr-Bremse AG, HL Mando Corporation, Calsonic Kansei Corporation, WABCO Holdings Inc., Cepton Technologies Inc
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