Overview and Scope
An automotive autonomous emergency braking system refers to an advanced safety feature designed to prevent or mitigate collisions by automatically applying the brakes when a potential collision is detected. This system uses various sensors and technologies to detect objects or vehicles in the vehicle’s path and can initiate braking independently of the driver to reduce the severity of an impact or avoid it altogether.
Sizing and Forecast
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%. The growth in the historic period can be attributed to increasing safety regulations, rising consumer awareness, industry dynamics, automotive sector shifts and insurance premium reduction.
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%. The growth in the forecast period can be attributed to global safety standards, increasing consumer demand, ongoing technology improvements, rising vehicle sales, insurance incentives. Major trends in the forecast period include integration with advanced driver assistance systems (ADAS), expansion into commercial vehicles, development of multi-sensor fusion systems, enhanced pedestrian and cyclist detection, integration with vehicle-to-everything (V2X) communication.
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Segmentation & Regional Insights
The automotive autonomous emergency braking system market covered in this report is segmented –
1) By System: Low-speed Autonomous Emergency Braking System, High-speed Autonomous Emergency Braking System
2) By Technology: Light Detection And Ranging (LiDAR), Radar, Camera
3) By Vehicle Type: Passenger Car, Commercial Vehicle
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.
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Major Driver Impacting Market Growth
The rising incidents of road accidents are expected to propel the growth of the automotive autonomous emergency braking system market going forward. A road accident refers to an incident that occurs on a road or highway involving vehicles, pedestrians, cyclists, or other road users, resulting in damage, injury, or death. Incidents of road accidents are rising due to factors such as distracted driving, speeding, impaired driving, fatigue, poor road conditions, adverse weather, increased traffic, and aggressive driving. Automotive autonomous emergency braking systems help prevent or mitigate accidents by automatically applying the vehicle’s brakes to avoid collisions or reduce their severity in critical situations. 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 time period in 2021. Therefore, the rising incidents of accidents are driving the growth of the automotive autonomous emergency braking system market.
Key Industry Players
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.
The automotive autonomous emergency braking system market report table of contents includes:
1. Executive Summary
2. Automotive Autonomous Emergency Braking System Market Characteristics
3. Automotive Autonomous Emergency Braking System Market Trends And Strategies
4. Automotive Autonomous Emergency Braking System Market – Macro Economic Scenario
5. Global Automotive Autonomous Emergency Braking System Market Size and Growth
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32. Global Automotive Autonomous Emergency Braking System Market Competitive Benchmarking
33. Global Automotive Autonomous Emergency Braking System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Automotive Autonomous Emergency Braking System Market
35. Automotive Autonomous Emergency Braking System Market Future Outlook and Potential Analysis
36. Appendix
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