Automatic or Autonomous Emergency Braking (AEB) Market: Snapshot
Automatic or autonomous emergency braking technology is a special type of braking technology used currently in automobiles. Braking system in an automobile helps to brake the vehicle to prevent collision. Automatic or autonomous emergency braking as the name implies helps to brake the vehicle by increasing the braking force or automatically brakes to prevent a rear-end and other collision. Rising demand for passenger vehicles and luxury vehicles across the globe and the rising adoption of advanced driver assisted systems are anticipated to increase the demand for automatic or autonomous emergency braking systems across the globe in the next few years.
Transparency Market Research estimates that the global automatic or autonomous emergency braking market, valued in terms of revenue at US$10,510.0 mn in 2016, will reach US$16,730.0 mn by 2025, at a CAGR of 5.3% from 2017 to 2025.
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Crashing Imminent Braking Technology to Witness Most Promising Rise in Demand
In terms of technology, the global automatic or autonomous emergency braking market has been segmented in the report into forward collision warning systems, dynamic brake support systems, and crash imminent braking. Of these, the segment of forward collision warning systems is presently the most preferred automatic or autonomous emergency braking technology. The segment accounted for a massive 44.6% of the overall market in 2016 and is expected to remain the leading contributor of revenue to the global market throughout the report’s forecast period. The segment is, however, envisaged to lose massively in terms of share in the global market by the end of the forecast period.
The segments of dynamic brake support and crash imminent braking are expected to register massive rise in market share and expand at promising paces from 2017 to 2025. In terms of growth rate, the segment of crashing imminent braking technology is expected to lead with a 6.3% CAGR from 2017 to 2025.
In terms of geography the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Europe and North America to Remain Leading Regional Markets
Of these, Europe is presently the leading regional market for automatic or autonomous emergency braking systems, thanks to the mammoth automotive industry and presence of some of the world’s leading car manufacturers. Euro NCAP (The European New Car Assessment Programme) has already started rating cars and trucks based on automatic or autonomous emergency braking feature, with the inclusion of emergency braking system a must for getting the highest rating. Germany is the dominant emergency braking market in Europe, featuring the region’s largest automotive market and one of the highest penetration of luxury vehicles, followed by the U.K. Europe is expected to remain at the forefront of the global automatic or autonomous emergency braking market over the report’s forecast period as well.
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In the near future, the market in North America is expected to lead in terms of rate of growth. Institute for Highway Safety (IIHS) and the National Highway Traffic Safety Administration (NHTSA) have compelled leading automotive companies to commit to the inclusion of automatic or autonomous emergency braking systems in all new cars by 2022 and all new trucks by 2025. In the U.S., which is the dominant automotive market in North America, the adoption of this technology is presently low. However, with the voluntary commitments from automakers, the adoption is anticipated to rise significantly.
Some of the leading players operating in the global automatic or autonomous emergency braking market are Volvo Car Corporation (Sweden), Tesla Inc. (the U.S), Ford Motor Company (The U.S), Daimler AG (Germany), Audi AG (Germany), BMW Group (Germany), Volkswagen Group (Germany), Toyota Motor Corporation (Japan), Honda Motor Company Ltd (Japan), and Jaguar Land Rover Automotive Plc. (the U.K).