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Automotive Autonomous Emergency Braking System Market Anticipated To Witness Robust Growth, Surpassing $78.48 Billion By 2029
Automotive Autonomous Emergency Braking System
What Is the Current Automotive Autonomous Emergency Braking System Market Size and Its Estimated Growth Rate?
The market size for the automotive autonomous emergency braking system has been on a steady increase in recent past. The projection is that this market will increase from its current value of $26.53 billion in 2024 to reach $33.03 billion in 2025, growing at a compound annual growth rate (CAGR) of 24.5%. The surge in growth during the historical period is a result of enhanced safety regulations, amplified consumer awareness, changes in the automotive industry, changes in the automotive sector, and a decrease in insurance premiums.
The market size of the automotive autonomous emergency braking system is predicted to undergo significant expansion in the coming years, reaching a worth of $78.48 billion in 2029 with a CAGR of 24.2%. The projected surge during the forecast period can be credited to aspects such as worldwide safety standards, augmenting consumer demand, continuous advancements in technology, increase in vehicle sales and insurance benefits. The dominant trends anticipated in the forecast period comprise incorporation with advanced driver assistance systems (ADAS), broadening into commercial vehicles, the creation of multi-sensor fusion systems, improved pedestrian and cyclist detection, in addition to integration with vehicle-to-everything (V2X) communication.
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How Are Emerging Segments Shaping the Automotive Autonomous Emergency Braking System Market Landscape?
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
Subsegments:
1) By Low-Speed Autonomous Emergency Braking System: Urban Or City Traffic AEB, Parking AEB, Pedestrian Detection AEB, Low-Speed Collision Prevention AEB
2) By High-Speed Autonomous Emergency Braking System: Highway AEB, Adaptive Cruise Control AEB, Rear-End Collision Prevention AEB, Automatic Emergency Braking For Vehicles, Inter-Vehicle Distance AEB
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Which Growth Factors Are Influencing Automotive Autonomous Emergency Braking System Market Expansion?
The increasing occurrence of vehicular mishaps is predicted to boost the development of the automotive autonomous emergency braking system market. A vehicular mishap relates to an event on a road or highway, involving cars, pedestrians, cyclists, or other road users, resulting in harm, injury, or death. Factors including distracted driving, speeding, impaired driving, exhaustion, poor road conditions, harsh weather, heavy traffic, and aggressive driving contribute to the rise in road accidents. Automotive autonomous emergency braking systems function to avert or lessen the impact of accidents by autonomously implementing the car's brakes to bypass crashes or reduce their intensity during critical situations. For example, in March 2024, as per Transport.ec.europa.eu, an online platform for transportation and mobility based in Belgium, around 20,400 people lost their lives in road accidents in the EU in 2023, with over 2,000 cyclists losing their lives in 2022, underlining a worrying progression. In Bulgaria, the road mortality rate per million populace increased by 4% in 2023 in comparison with 2022. As a result, the upward trend in accidents is propelling the development of the automotive autonomous emergency braking system market.
Who Are the Dominant Players Across Different Automotive Autonomous Emergency Braking System Market Segments?
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.
What Automotive Autonomous Emergency Braking System Market Trends Are Gaining Traction Across Different Segments?
Major players in the automotive autonomous emergency braking system market are placing a strong emphasis on technological innovation; for example, better sensor integration, AI-driven braking mechanisms, and enhanced driver-assistance capabilities. These advances aim to boost vehicle safety by avoiding crashes and minimizing the impact of accidents across various driving circumstances. Enhanced driver-assistance systems aim to improve safety and driving comfort by aiding the driver with capabilities such as collision prevention, lane stability, adaptive cruise management, and automated braking. In April 2024, for example, Mobileye Global Inc., a company based in Israel specializing in autonomous driving, introduced its EyeQ6 Lite chip (SoC). This chip is specifically intended to boost advanced driver-assistance systems (ADAS) in cars that will launch this year. The EyeQ6 Lite, a product for the mass market, is designed to empower advanced driver-assistance systems (ADAS) in cars with features such as lane-change assistance and automated cruise control. The chip comes with two CPU cores, five accelerators, and an 8-megapixel camera providing a 120-degree field of view.
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Which Geographic Regions Are Expected to Dominate the Automotive Autonomous Emergency Braking System Market in the Coming Years?
North America was the largest region in the automotive autonomous emergency braking system market in 2024. 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Autonomous Emergency Braking System Market?
2. What is the CAGR expected in the Automotive Autonomous Emergency Braking System Market?
3. What Are the Key Innovations Transforming the Automotive Autonomous Emergency Braking System Industry?
4. Which Region Is Leading the Automotive Autonomous Emergency Braking System Market?
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