Automatic Emergency Braking (AEB) Market
Added: (Sat Feb 02 2019)
Pressbox (Press Release) -
Automatic Emergency Braking (AEB) Market size is valued at US$ 3.3 Bn in 2017 and expected to grow at a CAGR of 20% in the forecasting period. Increasing consumer awareness regarding passenger & pedestrian safety coupled with government mandates to install safety-related technologies in the vehicle are primary factors driving the automatic emergency braking market size.
The focus of the OEMs was to protect the driver and passengers inside the vehicle and therefore the technologies evolved were in conjunction with this trend. For instance, seat belts and anti-lock braking systems were provided to protect the driver and the vehicle. OEMs develop the vehicle structures or designs to accommodate the components required for AEB. Although the adoption rate in vehicles was low in 2016, most of the automakers have started integrating basic AEB system as a standard and optional feature into some of the models of their portfolio.
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Automatic Emergency Braking (AEB) Market
Automatic Emergency Braking market is majorly segmented by the vehicle type and region wise. Based on vehicle type segment the automatic emergency braking market is segmented as commercial vehicles and passenger vehicles. Under this, the passenger vehicle segment holds the largest share. The OEMs have started to provide AEB technology as a standard in the interest of active and passive safety. Rising luxury vehicle sales and new vehicle segments such as crossovers or mini SUV across the globe has demanded reliable AEB safety technology.
Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America held the highest market in 2017. The regulatory authorities concerning vehicle and passenger safety have made major amendments for the installation of AEB systems over the forecast timeline. The high acceptance rate in North American countries has encouraged automatic emergency braking market application in autonomous vehicles. For instance, In March 2016, the Insurance Institute for Highway Safety (IIHS) and the U.S. National Highway Traffic Safety Administration announced a commitment made by 20 automakers which represent more than 99% of the U.S. auto market to make AEB as a standard feature on all new cars by 2022.
Key player across the Automatic Emergency Braking industry are Volvo Car Corporation, Tesla Inc., Ford Motor Company, Daimler AG, Audi AG, BMW Group, Volkswagen Group, Toyota Motor Corporation, Honda Motor Company Ltd, and Jaguar Land Rover Automotive Plc. The automatic emergency braking market share is consolidated with few companies acquiring more than 50% of the global industry.
The original equipment manufacturing companies are implementing extensive R&D for developing advanced and cost-effective AEB technologies. Manufacturers often prefer to design and test the system instead of outsourcing to the suppliers, thus increasing the competition to deliver more technologically advanced cameras, lasers, and sensors. Established automobile players adopt partnerships and joint venture strategies to gain control over the automatic emergency braking market.
Automatic Emergency Braking Market Scope
Automatic Emergency Braking Market, By Vehicle Type
• Commercial Vehicles
• Passenger Vehicles
Automatic Emergency Braking Market, By Geography
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America
Key Players operating in the Automatic Emergency Braking Market:
• Volvo Car Corporation
• Tesla Inc.
• Ford Motor Company
• Daimler AG
• Audi AG
• BMW Group
• Volkswagen Group
• Toyota Motor Corporation
• Honda Motor Company Ltd
• Jaguar Land Rover Automotive Plc.
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This Report is published by Maximize Market Research