Overview and Scope
Automatic emergency braking (AEB) refers to an advanced safety technology installed in vehicles that helps prevent or mitigate collisions by automatically applying the brakes if the system detects an imminent crash. AEB is designed to enhance driver safety and reduce the risk of accidents, particularly in situations where human reaction time may be insufficient to prevent a crash.
Sizing and Forecast
The automatic emergency braking market size has grown rapidly in recent years. It will grow from $34.23 billion in 2023 to $38.64 billion in 2024 at a compound annual growth rate (CAGR) of 12.9%. The growth in the historic period can be attributed to rising traffic congestion, integration with vehicle-to-vehicle communication, urbanization trends, vehicle electrification, and environmental concerns.
The automatic emergency braking market size is expected to see rapid growth in the next few years. It will grow to $63.27 billion in 2028 at a compound annual growth rate (CAGR) of 13.1%. The growth in the forecast period can be attributed to fleet management applications, growth of electric vehicles (EVs), original equipment manufacturers partnerships, and focus on fuel efficiency. Major trends in the forecast period include integration of AI and machine learning, customization and personalization, expansion of autonomous emergency braking (AEB), focus on vulnerable road users, and development of pedestrian and cyclist detection.
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Segmentation & Regional Insights
The automatic emergency braking market covered in this report is segmented –
1) By Type: Forward Collision Warning, Dynamic Brake Support, Crash Imminent Braking
2) By Brake: Disc, Drum
3) By Application: Passenger Vehicles, Commercial Vehicles
Asia-Pacific was the largest region in the automatic emergency braking market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the automatic emergency braking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising number of road accidents is expected to propel the growth of the automatic emergency braking market going forward. Road accidents refer to any collision involving at least one moving vehicle on a public or private road that is accessible to the general public and that leaves at least one person hurt or dead. Road accidents are rising due to factors such as increased distracted driving, higher vehicle speeds, and inadequate infrastructure. Automatic emergency braking helps mitigate road accidents by automatically applying brakes to prevent collisions or reduce their severity. AEB systems use sensors, such as radar, cameras, or LiDAR, to continuously monitor the road ahead for potential collision risks. For instance, in August 2022, according to the National Highway Traffic Safety Administration, a US-based government agency, 9,560 individuals died in traffic accidents in the first quarter of 2022, an increase of 7% compared to the 8,935 fatalities for the same period in 2021. Therefore, the rising number of road accidents is driving the growth of the automatic emergency braking market.
Key Industry Players
Major companies operating in the automatic emergency braking market are Volkswagen AG, Toyota Motor Corporation, Ford Motor Company, Mercedes-Benz, General Motors Company, Bayerische Motoren Werke AG (BMW), Honda Motor Co. Ltd., Hyundai Motor Company, Robert Bosch GmbH, Hitachi Automotives Systems Ltd., Tesla Inc., Siemens AG, ZF Friedrichshafen AG, Denso Corporation, AB Volvo, Continental AG, Magna International Inc., AISIN SEIKI Co. Ltd., Valeo SA, Autoliv Inc., Mando Corporation, Mobileye Global Inc, Delphi Technologies
The automatic emergency braking market report table of contents includes:
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