PUBLISHER: The Business Research Company | PRODUCT CODE: 1484725
PUBLISHER: The Business Research Company | PRODUCT CODE: 1484725
An automotive autonomous emergency braking system is an advanced safety feature engineered to prevent or lessen collisions by autonomously applying the brakes upon detecting a potential collision. Employing a combination of sensors and technologies, this system identifies objects or vehicles in the vehicle's path and can independently trigger braking actions, mitigating the impact's severity or averting it entirely.
The primary types of automotive autonomous emergency braking systems encompass low-speed and high-speed variants. A low-speed autonomous emergency braking system is engineered to automatically engage the vehicle's brakes at lower velocities, aimed at preventing or lessening collisions with obstacles, pedestrians, or other vehicles in the vehicle's path. This system relies on a range of technologies such as light detection and ranging (LiDAR), radar, and cameras, and finds application in diverse vehicle types, including passenger cars and commercial vehicles.
The automotive autonomous emergency braking system market research report is one of a series of new reports from The Business Research Company that provides automotive autonomous emergency braking system market statistics, including automotive autonomous emergency braking system industry global market size, regional shares, competitors with an automotive autonomous emergency braking system market share, detailed automotive autonomous emergency braking system market segments, market trends and opportunities, and any further data you may need to thrive in the automotive autonomous emergency braking system industry. This automotive autonomous emergency braking system 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 automotive autonomous emergency braking system market size has grown exponentially in recent years. It will grow from $21.38 billion in 2023 to $26.53 billion in 2024 at a compound annual growth rate (CAGR) of 24.1%. Expansion observed in the historical period can be attributed to several contributing factors. These include the implementation of stringent safety regulations, a growing awareness among consumers regarding safety features, shifts in the dynamics of the automotive industry, changes in automotive sector trends, and initiatives aimed at reducing insurance premiums through the adoption of advanced safety technologies.
The automotive autonomous emergency braking system market size is expected to see exponential growth in the next few years. It will grow to $63.19 billion in 2028 at a compound annual growth rate (CAGR) of 24.2%. Anticipated growth in the forecast period can be attributed to several key drivers, including the establishment and adoption of global safety standards, a rising consumer demand for enhanced safety features, continual advancements in technology, increasing vehicle sales worldwide, and incentives from insurance providers. Major trends expected in this period encompass the integration of autonomous emergency braking systems with advanced driver assistance systems (ADAS), expansion into the realm of commercial vehicles, the development of multi-sensor fusion systems for improved accuracy and reliability, enhancements in pedestrian and cyclist detection capabilities, and integration with vehicle-to-everything (V2X) communication networks to enhance overall safety and connectivity on the road.
The upward trend in road accidents is anticipated to drive the growth of the automotive autonomous emergency braking system market in the foreseeable future. Road accidents, encompassing incidents involving vehicles, pedestrians, cyclists, or other road users resulting in damage, injury, or fatalities, are on the rise due to various factors such as distracted driving, speeding, impaired driving, fatigue, poor road conditions, adverse weather, increased traffic, and aggressive driving behaviors. Automotive autonomous emergency braking systems serve to prevent or mitigate accidents by automatically applying the vehicle's brakes to avoid collisions or reduce their severity in critical situations. For instance, data from August 2022 provided by the National Highway Traffic Safety Administration reveals a concerning 7% increase in traffic accident fatalities in the first quarter of 2022 compared to the same period in 2021, underscoring the pressing need for advanced safety technologies such as autonomous emergency braking systems to address road safety concerns.
Key players in the automotive autonomous emergency braking system market are actively developing advanced solutions tailored for various vehicle types, including commercial vehicles, to gain a competitive advantage in the market. Particularly crucial for commercial vehicles such as trucks, buses, or delivery vans, autonomous emergency braking systems play a pivotal role in enhancing road safety by mitigating the risks of accidents stemming from driver error, distraction, fatigue, or unforeseen hazards. For example, in April 2021, ZF Friedrichshafen AG introduced OnGuardMAX, its most sophisticated autonomous emergency braking system for commercial vehicles, in China. This system integrates cutting-edge camera and radar sensors for data integration, enabling precise detection, classification, and response to moving and stationary vehicles, motorcycles, and bicycles. Capable of alerting the driver to potential collisions and applying brakes if necessary, this system significantly contributes to accident prevention or reduction, particularly concerning pedestrian-related incidents.
In June 2023, Magna International Inc. completed the acquisition of Veoneer's Active Safety business for an undisclosed sum. This strategic move significantly strengthens Magna's foothold in the active safety sector, expanding its portfolio and bolstering its capabilities in sensor technology, software, and systems engineering. Veoneer, a Sweden-based automotive technology company specializing in automotive autonomous emergency braking systems, complements Magna's objectives to enhance its presence and offerings in the automotive safety market, further solidifying its position as a leading supplier in the industry.
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.
North America was the largest region in the automotive autonomous emergency braking system market in 2023. 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.
The countries covered in the automotive autonomous emergency braking system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The automotive autonomous emergency braking system market consists of sales of radar sensors, Lidar (Light Detection and Ranging) sensors, brake actuation systems, wiring connectors, and testing and validation equipment. 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.
Automotive Autonomous Emergency Braking System 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 automotive autonomous emergency braking system 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 automotive autonomous emergency braking system ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The automotive autonomous emergency braking system 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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