Press release
Global Automotive Autonomous Emergency Braking System Market 2024 - By Growth Opportunities, Future Insights, Regional Segments, Latest Innovations And Forecast To 2033
Global Automotive Autonomous Emergency Braking System Market
Automotive Autonomous Emergency Braking System Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $63.19 Bn In 2028 At A CAGR Of 24.2% :
The automotive autonomous emergency braking system market size has grown exponentially in recent years. It will grow from $21.38 billion in 2023 to $26.53 billion in 2024 at a compound annual growth rate (CAGR) of 24.1%. The growth in the historic period can be attributed to increasing safety regulations, rising consumer awareness, industry dynamics, automotive sector shifts and insurance premium reduction.
The automotive autonomous emergency braking system market size is expected to see exponential growth in the next few years. It will grow to $63.19 billion in 2028 at a compound annual growth rate (CAGR) of 24.2%. The growth in the forecast period can be attributed to global safety standards, increasing consumer demand, ongoing technology improvements, rising vehicle sales, insurance incentives. Major trends in the forecast period include integration with advanced driver assistance systems (ADAS), expansion into commercial vehicles, development of multi-sensor fusion systems, enhanced pedestrian and cyclist detection, integration with vehicle-to-everything (V2X) communication.
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Automotive Autonomous Emergency Braking System Market Major Segments
The automotive autonomous emergency braking system market covered in this report is segmented -
1) By System: Low-speed Autonomous Emergency Braking System, High-speed Autonomous Emergency Braking System
2) By Technology: Light Detection And Ranging (LiDAR), Radar, Camera
3) By Vehicle Type: Passenger Car, Commercial Vehicle
Key Driver - Surging Cases Of Road Accidents Fuels Growth In The Automotive Autonomous Emergency Braking System Market
The rising incidents of road accidents are expected to propel the growth of the automotive autonomous emergency braking system market going forward. A road accident refers to an incident that occurs on a road or highway involving vehicles, pedestrians, cyclists, or other road users, resulting in damage, injury, or death. Incidents of road accidents are rising due to factors such as distracted driving, speeding, impaired driving, fatigue, poor road conditions, adverse weather, increased traffic, and aggressive driving. Automotive autonomous emergency braking systems help prevent or mitigate accidents by automatically applying the vehicle's brakes to avoid collisions or reduce their severity in critical situations. For instance, in August 2022, according to the National Highway Traffic Safety Administration, a US-based government agency, 9,560 individuals died in traffic accidents in the first quarter of 2022, an increase of 7% compared to the 8,935 fatalities for the same time period in 2021. Therefore, the rising incidents of accidents are driving the growth of the automotive autonomous emergency braking system market.
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Prominent Trend - Introduction Of Advanced AEBS For Commercial Vehicles Transforming The Automotive Autonomous Emergency Braking System Market
Major companies operating in the automotive autonomous emergency braking system market are developing advanced solutions for various types of vehicles, such as AEBS for commercial vehicles, to gain a competitive edge in the market. For commercial vehicles, such as trucks, buses, or delivery vans, AEBS plays a crucial role in improving road safety by helping to mitigate the risks of accidents caused by driver error, distraction, fatigue, or unexpected hazards. For instance, in April 2021, ZF Friedrichshafen AG, a Germany-based technology and engineering company, launched OnGuardMAX, its most advanced autonomous emergency braking system for commercial vehicles in China. The top Chinese manufacturers will implement OnGuardMAX in new truck models starting this year. Sophisticated data integration with cutting-edge camera and radar sensors enables the system to detect, classify, and react to moving and stationary automobiles, motorcycles, and bicycles. The system alerts the driver to potential collisions and, if required, can bring the car to a complete stop. This improved object detection and automatic braking capacity allows the new ZF system to help avoid or lessen pedestrian-related incidents.
Automotive Autonomous Emergency Braking System Market Players
Major companies operating in the automotive autonomous emergency braking system market are Hyundai Motor Company, Robert Bosch GmbH, Hitachi Ltd., Panasonic Corporation, Denso Corporation, AB Volvo, ZF Friedrichshafen AG, Continental AG, Mitsubishi Electric Corporation, Aisin Seiki Co. Ltd., NVIDIA Corporation, Subaru, Valeo SA, Texas Instruments Incorporated, Aptiv PLC, TRW Automotive Holdings Corp., Infineon Technologies AG, NXP Semiconductors N.V., Renesas Electronics Corporation, Autoliv Inc., Hella GmbH & Co. KGaA, Gentex Corporation, Delphi Automotive PLC, Magneti Marelli S.p.A.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the automotive autonomous emergency braking system market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive autonomous emergency braking system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Autonomous Emergency Braking System Market Report Structure
3. Automotive Autonomous Emergency Braking System Market Trends And Strategies
4. Automotive Autonomous Emergency Braking System Market - Macro Economic Scenario
5. Automotive Autonomous Emergency Braking System Market Size And Growth
…..
27. Automotive Autonomous Emergency Braking System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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