PUBLISHER: The Business Research Company | PRODUCT CODE: 1392501
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392501
“Autonomous Emergency Braking Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on autonomous emergency braking market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for autonomous emergency braking? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The autonomous emergency braking market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Autonomous Emergency Braking (AEB) is an automated braking system designed to continuously monitor the road environment, contributing to accident prevention in both cars and heavy trucks. This system is particularly valuable in mitigating road accidents by automatically applying the brakes when the driver fails to respond to an imminent threat.
Autonomous Emergency Braking is primarily implemented in two key vehicle categories such as passenger cars and commercial vehicles. A passenger car, defined as a road motor vehicle designed to carry passengers and seating no more than nine people, including the driver, commonly integrates AEB technology. Brake options include disc and drum, while the technology encompasses Crash Imminent Braking and Dynamic Braking Support. The system functionalities are classified into Low-Speed AEB, Higher-Speed AEB, and Pedestrian AEB, each tailored to specific scenarios and speeds. This technology plays a pivotal role in enhancing road safety across diverse automotive applications.
The autonomous emergency braking market research report is one of a series of new reports from The Business Research Company that provides autonomous emergency braking market statistics, including global market size, regional shares, competitors with a autonomous emergency braking market share, detailed autonomous emergency braking market segments, market trends and opportunities, and any further data you may need to thrive in the autonomous emergency braking industry. This autonomous emergency braking market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The autonomous emergency braking market size has grown rapidly in recent years. It will grow from $44. 42 billion in 2023 to $52. 18 billion in 2024 at a compound annual growth rate (CAGR) of 17. 5%. The growth observed in the historical period can be attributed to various factors. These include an increased awareness of environmental issues, the adoption of hybrid and electric vehicles, government regulations emphasizing fuel efficiency, competitiveness within the automotive industry, and a growing awareness of road accidents. These elements collectively contributed to the expansion and development of the automotive sector during the specified historic period.
The autonomous emergency braking market size is expected to see rapid growth in the next few years. It will grow to $96. 63 billion in 2028 at a compound annual growth rate (CAGR) of 16. 7%. The anticipated growth in the forecast period can be attributed to several key drivers. These include the expanding electric vehicle market, the implementation of stricter emission standards, advancements in energy recovery systems, the integration of autonomous vehicles, and a growing consumer demand for sustainable technologies. Noteworthy trends expected in the forecast period encompass the integration of Autonomous Emergency Braking (AEB) with advanced driver assistance systems (ADAS), the development of pedestrian detection systems, the application of artificial intelligence in emergency braking algorithms, the extension of AEB systems to commercial vehicles, and the standardization of AEB across different automotive segments.
The escalating number of road accidents is anticipated to drive the expansion of the autonomous emergency braking market in the foreseeable future. Accidents, resulting in injuries or fatalities, have surged, compelling the need for proactive safety measures. Autonomous emergency braking systems act swiftly by detecting potential collisions and automatically applying brakes to decelerate or halt the vehicle, averting or minimizing the impact of accidents. For instance, reported by the Times of India in January 2022, road crashes surged by 10% in 2021, with over 400 fatalities. Fatal road accidents rose from 347 in 2020 to 389 in 2021, and fatalities increased from 375 to 409, emphasizing the urgency for enhanced safety measures, thus driving the demand for autonomous emergency braking systems.
The increasing demand for enhanced safety measures within vehicles is poised to significantly influence the trajectory of the autonomous emergency braking market. Safety features in automobiles play a pivotal role in mitigating accidents and reducing the severity of collisions, fostering a heightened demand for vehicles equipped with advanced safety technologies. Consumers, increasingly conscious of road safety, are actively seeking vehicles integrated with additional protective features. For instance, the National Safety Council of India estimated a 3% decline in motor-vehicle deaths for the initial six months of 2023, reflecting a growing emphasis on road safety. The pursuit of advanced safety technologies, including autonomous emergency braking systems, adaptive cruise control, and collision avoidance systems, underscores the increasing inclination towards safety features in vehicles, thereby propelling the autonomous emergency braking market.
Innovative product developments represent a prevailing trend in the autonomous emergency braking market. Key industry players are dedicated to introducing innovative solutions to fortify their market positions. For instance, ZF Friedrichshafen AG introduced the OnGuardMAX system in April 2021, boasting an advanced autonomous emergency braking assistance system. This system integrates cutting-edge object detection and autonomous braking capabilities, leveraging state-of-the-art camera and radar sensors for autonomous vehicle detection, signaling a new benchmark in safety technology advancements.
Major companies within the autonomous emergency braking market are pioneering innovative systems aimed at collision detection and avoidance. Autonomous Emergency Braking (AEB) systems leverage cutting-edge technologies to create a comprehensive view of a vehicle's surroundings. When these systems identify a potential collision, they autonomously engage the brakes to either prevent the collision entirely or mitigate its severity. Notably, in February 2022, NXP Semiconductors introduced the S32G GoldVIP, designed to address real-time challenges in software-defined vehicles through S32G vehicle network processors. This radar platform utilizes radar sensors and AI, enabling intrusion detection and collision avoidance of pedestrians, cyclists, and other vehicles in various weather conditions. Additionally, Brembo, in October 2021, introduced SENSIFY, an intelligent braking system integrating advanced AI-driven software with Brembo's brake components. SENSIFY combines digital technology, predictive algorithms, and data management to control the brake system digitally, offering a flexible and revolutionary platform that optimizes braking performance through AI-driven software.
In February 2022, Cummins Inc. made a strategic acquisition of Jacobs Vehicle Systems Inc. for $325 million, reinforcing its technological capabilities in engine braking, cylinder deactivation, start-stop systems, and thermal management technologies. This acquisition bolsters Cummins' existing product portfolio and opens new growth avenues for its advanced engine platforms. Jacobs Vehicle Systems Inc., a US-based company specializing in commercial vehicle retarding and valve actuation technologies, complements Cummins' endeavors to further innovate and advance within the automotive industry.
Major companies operating in the in the autonomous emergency braking market report are Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, Mobileye NV, Autoliv Inc., Hyundai Mobis Co Ltd., Aisin Corporation, Hitachi Automotive Systems Pvt Ltd., Mando Corporation, Tesla Inc., Magna International Inc., DENSO Corporation, Valeo SA, General Motors Company, Delphi Technologies plc, Aptiv plc, WABCO Holdings Inc., Panasonic Corporation, Hella KGaA Hueck & Co., TRW Automotive Holdings Corp., Ficosa International SA, Knorr-Bremse AG, Bosch Rexroth AG, Zhejiang VIE Science & Technology Co Ltd., Autotalks Ltd., Cohda Wireless Pty Ltd., NXP Semiconductors NV, Texas Instruments Incorporated, STMicroelectronics NV, Infineon Technologies AG
Asia-Pacific was the largest region in the autonomous emergency braking market in 2023. The regions covered in the autonomous emergency braking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the autonomous emergency braking market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The automotive emergency braking market includes revenues earned by entities by electromagnetic, flywheel, spring, and hydraulic brakes. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.