Automatic Emergency Braking Market: Growth Drivers, Regional Analysis and Forecast to 2024

The Automatic emergency braking market is set to observe growth rate of over 14.5% till 2024. The rapidly increasing focus toward reducing road accidents and improving occupant & pedestrian safety will extensively drive AEB market growth in the coming years. An advanced safety feature that uses a combination of forward-looking sensors, automatic braking system, and driver alerts, AEB warns drivers about impending collisions. The system effectively improves driving confidence as it allows drivers to gain control over the vehicle by reducing speed or in some cases, offers time to steer off to avoid crash.

The rising number of road accidents mainly in developed countries with fast highway lanes is a major factor that will boost the product’s adoption. According to the U.S. Department of Transportation’s National Highway Traffic Safety Administration (NHTSA), in 2017, around 37,133 people lost their lives in a motor vehicle collision. This can significantly be reduced by using AEB equipped vehicles.

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The expanding automotive industry will also add a noticeable stimulus to the automatic emergency braking market. According to reliable statistics, the automotive industry was estimated to sell nearly 78.6 million passenger vehicles in 2017. In terms of production and sales, China and the United States are among the leading countries in the automotive industry with 6.9 million passenger cars having been sold in the U.S. alone in 2016.

While the automotive industry is led by such giants as Volkswagen, Daimler and Toyota, the automotive supplier industry, which also plays a major role in the automatic emergency braking market, is led by Bosch, Continental, Denso, Magna etc. Aided by initiatives like the Paris Agreement, electric and hybrid vehicles are expected to register 20% CAGR over 2018-2024, adding greater growth impetus to the overall market. As passenger vehicles witness explosive demand in the emerging economies, it is predictable that the automatic emergency braking industry will also register a massive growth rate as traffic safety concerns will be rising with the increasing use of vehicles.

Apparently, automatic preventive braking will work by applying small preventive brakes that will increase the distance between two vehicles and maintain safe distance between vehicles rather than brake suddenly to avoid collision. Integration of such braking systems on autonomous vehicles as well as ordinary vehicles driven by humans will immensely augment the safety of passengers as well as pedestrians. Such considerations taken by automakers are certain to add a considerable boost to the growth of the automatic emergency braking market.

The substantial upsurge in the number of road accidents has occurred not only because number of vehicles on the road has been increasing exponentially but due to inattentive driving, drunk driving and speeding. In 2016, the National Safety Council of the U.S. estimated the chances of people dying in a car crash was 1 in every 114, which amounted to nearly 40,000 people losing their lives in motor vehicle mishaps. Naturally, the National Highway Traffic Safety Association (NHTSA) of the U.S. is working towards the promotion of road safety through the enhancement of vehicle technologies that can potentially reduce the number of crashes, thus helping to save thousand of lives each year, not to mention reduction of all the damage associated with a road accident.

In fact, in 2015, ten major U.S. car manufacturers committed to making automatic emergency braking a standard feature in all vehicles to increase vehicle safety. Electric car manufacturer Tesla added an automatic emergency braking system on its vehicles that uses a radar technology to bounce under vehicles to detect potential accidents up to 2 cars ahead and is activated even before the human driver has the chance to access the situation and react. Pedestrian automatic emergency braking systems are also becoming more commonly used in automobiles as autonomous vehicles are making their appearance in the market and it is of crucial importance that pedestrian safety is maintained in case of such vehicles.

In 2015, NHTSA and the Insurance Institute of Highway Safety made an announcement in which it was declared that ten of the major U.S. car manufacturers committed towards including automatic emergency braking as a standard feature in all new vehicles. Considering that the ten manufacturers constitute nearly 60% of the automakers in United States, their commitment to the inclusion of the feature is an important one and comprehensively indicates the future growth prospects for the automatic emergency braking market.

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Some Point from Table of Contents:

Chapter 4 Automatic Emergency Braking Market, By Brake

4.1 Global automatic emergency braking market share by brake, 2017 & 2024

4.2 Disc

4.2.1 Market estimates and forecast, 2013 – 2024, (Thousand Units) (USD Million)

4.2.2 Market estimates and forecast, by region, 2013 – 2024, (Thousand Units) (USD Million)

4.3 Drum

4.3.1 Market estimates and forecast, 2013 – 2024, (Thousand Units) (USD Million)

4.3.2 Market estimates and forecast, by region, 2013 – 2024, (Thousand Units) (USD Million)

Chapter 5 Automatic Emergency Braking Market, By Vehicle

5.1 Global automatic emergency braking market share by vehicle, 2017 & 2024

5.2 ICE

5.2.1 Market estimates and forecast, 2013 – 2024, (Thousand Units) (USD Million)

5.2.2 Market estimates and forecast, by region, 2013 – 2024, (Thousand Units) (USD Million)

5.2.3 Passenger cars

5.2.3.1 Market estimates and forecast, 2013 – 2024, (Thousand Units) (USD Million)

5.2.3.2 Market estimates and forecast, by region, 2013 – 2024, (Thousand Units) (USD Million)

5.2.4 LCV

5.2.4.1 Market estimates and forecast, 2013 – 2024, (Thousand Units) (USD Million)

5.2.4.2 Market estimates and forecast, by region, 2013 – 2024, (Thousand Units) (USD Million)

5.2.5 HCV

5.2.5.1 Market estimates and forecast, 2013 – 2024, (Thousand Units) (USD Million)

5.2.5.2 Market estimates and forecast, by region, 2013 – 2024, (Thousand Units) (USD Million)

5.3 Electric & hybrid vehicle

5.3.1 Market estimates and forecast, 2013 – 2024, (Thousand Units) (USD Million)

5.3.2 Market estimates and forecast, by region, 2013 – 2024, (Thousand Units) (USD Million)

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