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Automatic or Autonomous Emergency Braking (AEB) Market to Record Sturdy Growth by 2025
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Leading automobile manufacturers such as BMW, Volvo, General Motors, Opel, Nissan, Audi AG, and Volkswagen have partnered with the Israel-based company Mobileye, a world leader in vision-based advanced driver-assistance systems (ADAS). Mobileye, currently in talks with Intel Corporation about a potential acquisition, is developing software for advanced driver assisted system in which automatic or autonomous emergency braking system is an integral feature.
Transparency Market Research estimates that the global automatic or autonomous emergency braking market will exhibit a promising 5.3% CAGR and rise from a valuation of US$10,510.0 mn in 2016 to US$16,730.0 mn by 2025.
Europe Accounts for Massive Chunk in Global Revenue
In terms of market attractiveness, the technology segment of dynamic brake support is presently the most attractive segment followed by the crash imminent braking technology. Although the market size of these automatic or autonomous technologies is small, they are growing at a healthy rate and are expected to acquire a larger share in the global market in the next few years. Geographically, the market is dominated by Europe owing to the well-established automotive industry and the high rate of adoption of automatic or autonomous emergency braking technology in most vehicles.
Mounting Rise in Passenger Vehicle Sales Boosts Demand
The rising global demand for high-end passenger vehicles is anticipated to remain the key driver of the global market for automatic emergency braking systems in the next few years. China is the world’s largest automobile market and sales of passenger vehicles are rising due to tax rebates on small-engine vehicles since October 2015. China plans to extend the tax benefit throughout 2017, which is anticipated to increase the demand for automatic emergency braking technology in the near future.
The vast rise in demand for luxury vehicles across the world is also anticipated to drive the demand for automatic or autonomous emergency braking technology in the next few years. Leading automotive brands such as BMW, Mercedes, and Lexus are launching new luxury car brands to cater to the rising global population of high net worth individuals, boosting the demand technologically advanced automatic or autonomous emergency braking systems. In the U.S. Low fuel prices, low interest rates and rising employment generation have increased the sales of cars and trucks thus significantly upping the demand for emergency braking systems.
High Cost Likely to Restrain Growth Prospects to Certain Extent
Of the key factors restraining the overall growth prospects of the global automatic emergency braking market is the rise in cost of vehicles with automatic or autonomous emergency braking systems. Although the market is witnessing a steady rise in research and development activities, which is expected to reduce cost of emergency brakes in the near future, costs are presently high and inclusion of such brakes add up to increase the cost of vehicles by around 5-10% more than that of normal vehicles. Moreover, there is no aftermarket for automatic or autonomous emergency braking system. Nevertheless, the increasing adoption of advanced driver assisted systems is expected to create vast growth opportunities for the automatic or autonomous emergency braking market.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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