According to Market Research Future (MRFR), the global Autonomous emergency braking system Industry is projected to rise at a CAGR of 19.23% from 2023 to 2030 (forecast period). The research report offers a summary of the effect of COVID-19 on current/future market conditions. The report outlines some of the key market factors that will affect the growth of the industry, such as market share, critical regions, and key players.
Over recent years, the automotive sector has experienced a range of technological advancements in both passenger and commercial vehicles, and the worldwide market has supported these advancements while adopting these vehicles. The Autonomous Emergency Braking System is one of the latest technologies developed by automotive companies and has received a ton of attention. The technology involved in the autonomous emergency braking system is an active safety system, especially designed to avoid vehicle crashes and collisions. It is a feature that alerts the driver to a sudden crash and allows them to use the maximum braking capacity of the vehicle. Acknowledging vehicle safety, numerous manufacturers have implemented this technology to avoid such circumstances.
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Key Players
Notable players in the global autonomous emergency braking system Industry include Valeo (France), Continental AG (Germany), Denso Corporation (Japan), Robert Bosch (Germany), Hyundai Mobis (South Korea), Autoliv Inc (Sweden), Mando Corporation (South Korea), ZF Friedrichshafen (German), Hitachi Automotive Systems (Japan), Aisin Seiki Co (Japan) and others.
Market Segmentation
The global market for autonomous emergency braking system has been segmented on the basis of technology, system, and vehicle type.
Based on technology, the global autonomous emergency braking system Industry has been segmented into dynamic brake support, forward collision warning, and crash imminent braking. Forward collision warning accounted for the highest market share in 2016, followed by dynamic brake support.
Based on the system, the global autonomous emergency braking system Industry has been segmented into low-speed systems, higher-speed systems, and pedestrian systems.
Based on vehicle types, the global autonomous emergency braking system Industry has been segmented into passenger vehicles and commercial vehicles. Passenger vehicles held the highest market share in 2016, trailed by commercial vehicles.
Regional Analysis
Region-wise, the global autonomous emergency braking system Industry has been segmented into four major regions: North America, Europe, Asia Pacific, and Rest of the World (RoW).
Europe held the largest market share, trailed by North America and the Asia Pacific in 2016. There has been a spike in the sales of luxury vehicles in Europe, which has raised the demand for an autonomous emergency braking system. Germany, the United Kingdom, and France are the leading countries in Europe that have fueled the market growth. North America and the Asia Pacific are the second and third leading regions in terms of revenue.
Market Dynamics
As a result of this technology, the adoption of an autonomous emergency braking system embedded vehicles has increased among the broader population. In addition, growing safety issues, government initiatives, and an increasing number of accidents have expanded the market for an autonomous emergency braking system. On the other side, higher costs of autonomous emergency braking system technology and low spending capacity in underdeveloped economies are considered to be constraining factors. The recent trend in this market is the increase in the sales of luxury vehicles.
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