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Automotive Autonomous Emergency Braking System Industry Expected to Reach $71.76 Billion by 2029 at 21.7% CAGR
Automotive Autonomous Emergency Braking System
Automotive Autonomous Emergency Braking System Market Value Projection: How Much Will the Market Size by 2025?
The market size of the automotive autonomous emergency braking system has seen a significant expansion in the past few years. The predicted growth is from $26.53 billion in 2024 to $32.67 billion in 2025, with the compound annual growth rate (CAGR) estimated at 23.1%. Factors contributing to the growth during the historic period include enhanced safety regulations, increased consumer consciousness, dynamics within the industry, changes within the automotive sector and reductions in insurance premiums.
What Will Be the Market Growth Forecat for Automotive Autonomous Emergency Braking System in 2029?
The market size of the automotive autonomous emergency braking system is expected to substantially rise in the forthcoming years, ballooning up to $71.76 billion in 2029 with a compound annual growth rate (CAGR) of 21.7%. This upward trend during the forecast period can be tied to factors such as global safety standards, evolving consumer needs, continual enhancements in technology, increasing sales of vehicles, and insurance benefits. Key trends during the forecast timeframe consist of the integration with advanced driver assistance systems (ADAS), branching out into the commercial vehicle sector, the creation of multi-sensor fusion systems, increased detection of pedestrians and cyclists, and consolidation with vehicle-to-everything (V2X) communication.
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What Are the Core Competitive Drivers in the Automotive Autonomous Emergency Braking System Industry?
The increase in road accidents is anticipated to fuel the expansion of the automotive autonomous emergency braking system market in the future. A road accident is an event that takes place on a street or interstate, involving vehicles, pedestrians, cyclists, or other road users, and can result in damage, harm, or fatality. Factors such as distracted driving, speeding, impaired driving, tiredness, poor street conditions, adverse weather conditions, increased traffic, and aggressive driving contribute to the rise in road accidents. Automotive autonomous emergency braking systems offer a solution to this problem, helping to prevent or lessen the severity of accidents by autonomously activating the vehicle's brakes in critical situations to avoid collisions. For example, in March 2024, Transport.ec.europa.eu, a Belgium-based transport and mobility website, reported that roughly 20,400 individuals died in road crashes in the EU in 2023, with over 2,000 cyclists killed in 2022, signifying a distressing trend. In Bulgaria, the rate of road deaths per million of the population grew by 4% in 2023 compared to 2022. Consequently, the increasing prevalence of accidents is propelling the growth of the automotive autonomous emergency braking system market.
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Which Automotive Autonomous Emergency Braking System Market Segment Is Projected to See the Fastest Growth?
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
Which Trends Are Opening New Opportunities in the Automotive Autonomous Emergency Braking System Market?
Leading firms within the automotive autonomous emergency braking system market are prioritizing innovations such as improved sensor combinations, AI-driven stopping mechanisms and superior driver-assistance features, all aiming to enhance vehicular safety by avoiding crashes and lessening the impact of accidents across different driving scenarios. Technologies aimed at enhancing safety and driving ease, aiding drivers in functions such as collision prevention, staying within lanes, adjustable speed control, and automatic braking, are referred to as advanced driver-assistance capabilities. For example, in April 2024, Mobileye Global Inc., a corporation based in Israel specializing in autonomous driving, introduced their EyeQ6 Lite system-on-chip (SoC) designed to improve advanced driver-assistance systems (ADAS) in vehicles releasing within the year. The EyeQ6 Lite is intended for large-scale usage and is set to strengthen advanced driver-assistance systems (ADAS) in vehicles, furnishing them with features such as lane-shifts and automated speed control. It comes equipped with two CPU cores, five accelerators and an 8-megapixel camera that covers a 120-degree field of vision.
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Who Are the Leaders in the Automotive Autonomous Emergency Braking System Market?
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.
Which Regional Automotive Autonomous Emergency Braking System Markets Offer the Greatest Growth Potential?
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.
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