PUBLISHER: The Business Research Company | PRODUCT CODE: 1455177
PUBLISHER: The Business Research Company | PRODUCT CODE: 1455177
The Autonomous Emergency Braking System (AEBS) is a safety feature integrated into vehicles to automatically detect potential collisions and engage the brakes, thereby preventing or mitigating the impact and reducing the severity of accidents. This system utilizes sensors and sophisticated algorithms to analyze the situation and respond proactively, contributing to the overall safety of both drivers and passengers.
The primary categories of products within the Autonomous Emergency Braking Systems (AEBS) include low-speed autonomous emergency braking systems and high-speed autonomous emergency braking systems. A low-speed autonomous emergency braking system functions at lower speeds, automatically applying the brakes to prevent collisions or minimize their impact severity. Various technologies, such as crash-imminent braking and dynamic brake support, are employed in different vehicle types, including both passenger vehicles and commercial vehicles.
The autonomous emergency braking system (AEBS) market research report is one of a series of new reports from The Business Research Company that provides autonomous emergency braking system (AEBS) market statistics, including autonomous emergency braking system (AEBS) industry global market size, regional shares, competitors with a autonomous emergency braking system (AEBS) market share, detailed autonomous emergency braking system (AEBS) market segments, market trends and opportunities, and any further data you may need to thrive in the autonomous emergency braking system (AEBS) industry. This autonomous emergency braking system (AEBS) 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 system (aebs) market size has grown exponentially in recent years. It will grow from $30.9 billion in 2023 to $38.47 billion in 2024 at a compound annual growth rate (CAGR) of 24.5%. The growth observed in the historical period can be credited to stringent safety regulations, a heightened awareness of vehicle safety, incentives for insurance premium reduction, collaborative efforts with automotive safety organizations, and a dedicated focus on enhancing pedestrian and cyclist safety.
The autonomous emergency braking system (aebs) market size is expected to see exponential growth in the next few years. It will grow to $84.58 billion in 2028 at a compound annual growth rate (CAGR) of 21.8%. The anticipated growth in the forecast period can be ascribed to the global harmonization of safety standards, integration into autonomous vehicle ecosystems, mandatory inclusion in vehicle safety ratings, urbanization, and congestion management, as well as collaboration with the insurance industry. Key trends expected in the forecast period include the integration with advanced sensor technologies, the adoption of artificial intelligence (AI) algorithms, improved cyclist detection and avoidance capabilities, and the integration of vehicle-to-everything (V2X) communication.
The autonomous emergency braking system (AEBS) market is anticipated to experience growth, driven by the increasing demand for luxury vehicles. Luxury vehicles, known for their premium features and superior comfort, often incorporate advanced AEBS for enhanced safety. For instance, BMW AG, a Germany-based luxury automaker, reported an 11.5% increase in BMW brand sales in the U.S. during Q2 2023 compared to Q2 2022. Additionally, Cox Automotive reported a historically high share of luxury vehicles in overall sales, reaching 18.2% in November 2022. This surge in demand for luxury vehicles is a key factor propelling the AEBS market forward.
The growth of the AEBS market is further fueled by a rising number of road accidents. With an increasing incidence of road accidents leading to property damage, injuries, and loss of life, AEBS plays a crucial role in preventing accidents by providing an additional layer of safety. According to the Department for Transport in the UK, road fatalities increased from 1,558 to 1,711, and casualties categorized as killed or seriously injured (KSI) rose from 27,450 to 29,742 during the transition from 2021 to 2022. The imperative to address the escalating number of road accidents is driving the adoption of AEBS.
The challenges such as false alarms and unintended braking pose obstacles to the growth of the AEBS market. False alarms occur when the system detects non-existent obstacles, and unintended braking happens when the system applies brakes without imminent danger. Randall-Reilly LLC highlighted these issues, emphasizing their potential impact on driver confidence. False alarms and unintended braking are identified as constraints hindering the growth of the AEBS market.
Major companies in the AEBS market are concentrating on developing advanced systems to gain a competitive edge. An advanced AEBS utilizes sensors, cameras, and algorithms to automatically apply brakes and prevent or mitigate collisions. ZF Friedrichshafen AG, a Germany-based technology company, introduced OnGuardMAX, an advanced AEBS for commercial vehicles. The system autonomously detects, classifies, and reacts to various obstacles, engaging emergency braking when needed. This innovative solution demonstrates the industry's commitment to advancing AEBS technology.
In January 2022, Faurecia SE, a France-based automotive supplier, acquired Hella KGaA Hueck & Co. for approximately $5.65 billion. This strategic move enhances Faurecia's position in the automotive industry, allowing it to expand in key growth areas such as electrification and self-driving technology. Hella KGaA Hueck & Co. is a Germany-based manufacturer specializing in advanced driver assistance systems (ADAS), including emergency braking functions and AEBS, aligning with Faurecia's strategic goals.
Major companies operating in the autonomous emergency braking system (aebs) market report are General Motors Company, Mitsubishi Electric Corporation, Robert Bosch GmbH, Hitachi Ltd., DENSO Corporation, ZF Friedrichshafen AG, Continental AG, Hyundai Mobis Co. Ltd., Magna International Inc., Aisin Corporation, PACCAR Inc., Faurecia SE, Toshiba Corporation, Valeo SA, Aptiv PLC, Nidec Automotive Components, BorgWarner Inc., Samsung SDI, Infineon Technologies AG, Renesas Electronics Corporation, Autoliv Inc., NSK Ltd., Knorr-Bremse AG, HL Mando Corporation, Calsonic Kansei Corporation, WABCO Holdings Inc., Cepton Technologies Inc.
North America was the largest region in the autonomous emergency braking system (AEBS) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the autonomous emergency braking system (aebs) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the autonomous emergency braking system (AEBS) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The autonomous emergency braking system (AEBS) market consists of revenues earned by entities by providing adaptive cruise control, lane keeping assist, fuel efficiency, and rear-end collision mitigation. The market value includes the value of related goods sold by the service provider or included within the service offering. The autonomous emergency braking system (AEBS) market also includes sales of sensors, control units, and brake actuators. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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.
Autonomous Emergency Braking System (AEBS) 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 system (aebs) 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 system (aebs) ? 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 system (aebs) 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.
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