Road safety is of paramount importance, and to that end, the Automatic Emergency Braking System (AEBS) market is gaining traction. This blog post will explore the types of AEBS systems available, discuss the applications for which they can be used, and analyse their growth potential.
Drivers of the Automatic Emergency Braking System (AEBS) Market
1. Government Regulations: Governments from various countries have implemented stringent regulations to promote the adoption of AEBS technologies in vehicles. For example, the European Commission has mandated that all new cars must be equipped with AEBS systems by 2022.
2. Increasing Adoption of Advanced Safety Features: Automakers are increasingly offering advanced safety features, such as AEBS systems, in their vehicles to improve occupant safety and create a competitive edge in the market. Hence this needs to be looked at.
3. Growing Concerns Over Road Safety: The increasing number of road accidents has raised public awareness about road safety and has triggered an increase in demand for advanced vehicle safety features like AEBS systems. This is also expected to drive growth in the market for AEBS systems over the forecast period.
Advantages of the Automatic Emergency Braking System (AEBS) Market
1) Cost savings: AEBS systems are designed to minimize the severity of an accident, and can reduce costs associated with vehicle repairs, medical bills, and liability payments. By investing in AEBS technology, businesses can save a significant amount of money over time.
2) Improved safety: AEBS systems are designed to detect potential collisions and apply brakes automatically if needed, reducing the risk of accidents. This increases road safety for both drivers and pedestrians.
3) Enhanced efficiency: Advanced sensors used in the system allow vehicles to respond quickly and accurately in emergency situations, increasing overall efficiency on the road. This allows drivers to react quickly and appropriately in hazardous situations, improving their ability to navigate traffic safely.
Market Value and CAGR of the Automatic Emergency Braking System (AEBS) Market (2021-2032)
The market value and CAGR of the Automatic Emergency Braking System (AEBS) Market is expected to reach USD 40.20 billion by 2032, growing at a CAGR of 10.2% from 2022 to 2032.
Increasing vehicle production and demand for safety systems are the major factors driving the AEBS market. The increasing awareness among consumers regarding safety systems is expected to create new opportunities for AEBS manufacturers. Furthermore, stringent regulatory standards related to pedestrian safety and traffic management are also likely to fuel market growth over the forecast period. Additionally, rising government initiatives and tax benefits for automakers in several countries are expected to further boost the demand for AEBS systems in automotive applications.
Challenges of the Automatic Emergency Braking System (AEBS) Market
1. High Cost: The high cost of AEBS systems is considered to be a barrier to adoption, as this technology is expensive and can add thousands of dollars to the price of a vehicle.
2. Lack of Standardization: There is currently no standard for AEBS technology, meaning that different manufacturers may use different algorithms or systems that may not be compatible with each other.
3. Cybersecurity Concerns: As AEBS systems become increasingly connected, there is an increased risk of cyberattacks targeting these systems and the vehicles they are installed in.
Key players of the Automatic Emergency Braking System (AEBS) Market
The companies dealing in Automatic Emergency Braking System (AEBS) Market are as follows :
• Bosch (Germany)
• Continental AG (Germany)
• Delphi Technologies, Inc. (U.K.)
• Denso Corporation (Japan)
• Infineon Technologies AG (Germany)
• Autoliv, Inc. (Sweden)
• ZF Friedrichshafen AG (Germany)
The most demanded product of the Automatic Emergency Braking System (AEBS) Market is expected to be the vehicle-based AEBS. This is due to the fact that vehicle-based AEBS systems are more widely available and offer a higher level of safety than aftermarket systems. The main application of AEBS systems is in vehicles, such as passenger cars, SUVs, light commercial vehicles, heavy commercial vehicles and buses.
In terms of end users, the global Automatic Emergency Braking System (AEBS) Market is mainly driven by automotive manufacturers, who install these systems in their vehicles for enhanced safety features. Consumer demand for automated safety features is also expected to drive growth in the market over the forecast period.
Regional Analysis: North America is expected to dominate the Global Automatic Emergency Braking System Market during the forecast period due to the presence of major players such as Continental AG and Robert Bosch GmbH in this region. Furthermore, regulations regarding vehicle safety in this region have led to increased demand for advanced driver assistance systems such as AEBS.
Impact of Covid-19
The outbreak of COVID-19 has led to a slowdown in the automotive industry and has had a significant impact on the Automatic Emergency Braking System (AEBS) market. The market is expected to witness a decline in the growth rate during the forecast period (2020-2022).
However, AEBS is considered as an important safety feature in vehicles and is mandated by various governments across the globe.
The major developments in the Automatic Emergency Braking System (AEBS) Market are the adoption of advanced driver assistance systems (ADAS) and the development of artificial intelligence (AI).
The use of ADAS is growing in popularity as a result of its ability to improve driving safety. ADAS technology can detect objects or obstacles in a vehicle's path and alert the driver, allowing them to take action to avoid a potential collision.
Additionally, AI has enabled the development of more sophisticated AEBS systems that can react faster and with greater accuracy than ever before. AI-based AEBS systems are able to process data from multiple sensors, such as radar, lasers, cameras and ultrasonic sensors, to determine the best course of action for avoiding collisions.
Automatic Emergency Braking System Market Scope
|Revenue forecast in 2032
|USD 40.20 billion
|CAGR of 10.2% during 2022-2032
|Type, Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Bosch (Germany),,Continental AG (Germany),,Delphi Technologies, Inc. (U.K.),,Denso Corporation (Japan),,Infineon Technologies AG (Germany),,Autoliv, Inc. (Sweden),,ZF Friedrichshafen AG (Germany)
Key Segment of Automatic Emergency Braking System (AEBS) Market
By Type Overview (USD Billion)
• Low-speed AEBS
• High-speed AEBS
By Application Overview (USD Billion)
• Commercial Vehicle
• Passenger Car
By Region Overview (USD Billion)
• Rest of Asia Pacific
• Rest of North America
• Rest of Europe
Middle East and Africa