Autonomous emergency braking system market is projected to reach USD 55.31 Billion by 2025, at a CAGR of 22.23% from 2020 to 2025. The base year for AEB system market study is 2016 and market has been projected up to 2025.
Government mandates in Europe and US to bring down the increasing number of accidents and rising safety concerns shall be the major drivers for the growth of this market.
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Study include automotive industry organizations such as the Organisation Internationale des Constructeurs d'Automobiles (OICA); corporate filings (such as annual reports, investor presentations, and financial statements); and trade, business, and automotive associations. Several primary interviews have been conducted with market experts from both the demand (OEM) and supply (autonomous emergency braking system suppliers and distributors) sides across four major regions, namely, North America, Europe, Asia Pacific, and RoW (Latin America, the Middle East, and Africa).
Low Speed-City Autonomous emergency braking systems are those systems that operate at a lower speed and in city-like road conditions. The primary reason for growth of this segment is majority of road accidents take place at a lower speed, causing lesser injury.
Also the number of vehicles being used across city roads is much higher compared with the number of vehicles used across inter-urban roads.
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Asia Pacific region comprises countries such as China, India, Japan, South Korea, and others. China and Japan make a significant contribution towards global vehicle production.
China acts as the manufacturing hub for automotive industry across the globe. Thus, tremendous vehicle production and larger penetration of AEB systems across developed economies such as Japan and South Korea have led to the growth of AEB systems in this region.
The report provides insights into the following points:
- Market Penetration: This study provides a detailed analysis of penetration of autonomous emergency braking (AEB) systems at a global, regional, and country level by vehicle type.
- Market Mapping: The report provides a detailed analysis on regional markets for the autonomous emergency braking (AEB) system market by operating speed, by application, by key technology, by level of automation driving, and by component.
- Market Diversification: The report provides exhaustive information about emerging technologies, recent developments, and investments in the global autonomous emergency braking (AEB) system market.
- Competitive Assessment: The report contains an in-depth analysis of manufacturing capabilities and the strategies being adopted by some of the leading players in autonomous emergency braking (AEB) system market.
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Top players in Autonomous Emergency Braking (AEB) System Market are a follows Continental AG (Germany), Valeo S.A. (France), Autoliv, Inc. (Sweden), Infineon Technologies AG (Germany), Knorr-Bremse AG (Germany) are some of the leading players in AEB system market.
Continental AG has a widespread network of manufacturing facilities spread across the globe and strong technological capabilities leading towards a wide range of diversified product portfolio.
Consumer sentiment & lack of functional clarity may act as the major restraint that shall hamper the growth of autonomous emergency braking system market. Consumer perception is extremely important as it helps in building the overall opinion of the product among consumers.
Consumers are generally more conscious and may not be willing to opt for new product that have a control over passenger safety. For example, in 2016, Tesla’s Model S with Autopilot system faced a severe crash resulting in the death of one person.
The car was equipped with various features such as AEB, lane departure warning, and others. Such incidents reduce the credibility of such systems and may raise questions on the reliability of these systems towards passenger safety.