The Global Autonomous Emergency Braking System (AEBS) Market is projected to reach around USD 78.1 billion by 2027 at a CAGR of around 21.1%.
Autonomous Emergency Braking System (AEBS) is an advanced driver assistance system (ADAS) safety system that helps drivers to detect obstacles and avoid the impact of collisions with other vehicles. Also, it automatically stops the car if the driver fails to respond to an emergency situation. The system monitors the gap between you and the vehicle ahead and automatically applies maximum braking, using the Anti-lock braking system to slow the car as much as possible.
Market Driver:
An autonomous emergency braking system (AEBS) helps to brake the vehicle to prevent a collision or reduce the severity of an impact. Safety is a major concern in the automotive sector. Any safety failures may result in severe injury or loss of life. Rising vehicle accidents worldwide is driving the demand for the automotive emergency braking system. As per the World Health Organization (WHO), around 1.35 million people annually die due to road accidents. To overcome this situation, International Standards, International Organization for Standardization (ISO 26262), and Society of Automotive Engineers (SAE J3061), have come up with strict vehicle safety and security standards.
Hence, rising awareness towards safety concerns is expected to drive the market growth during the forecast period.
The basic functions of an autonomous emergency braking system (AEBS) is to avoid or decrease a collision with a vehicle ahead. This can be achieved with the information’s obtained using advanced driver assist systems (ADAS) sensors such as radar or camera. AEB technology is connected with adaptive cruise control which is an advantage for motorway driving and guides in peak hour traffic. Such benefits of AEBS are resulting in its increased adoption rate over the world. In Feb 2019, according to the United Nations, Economic Commission for Europe (UNECE) has imposed strict regulations for AEBS for cars which will improve road safety.
Thus, the growing adoption of the advanced emergency braking system is expected to propel the Autonomous Emergency Braking System (AEBS) market during the forecast period.
Market Restraint:
The installation cost of AEBS increases the overall price of the vehicle which also increases the overall cost of the vehicle. Safety is one of the biggest factors while purchasing a new car, however it is associated with high cost. Due to the presence of cost constraints, the more efficient systems are first implemented in premium vehicles, where the impact of the cost of the system on the overall cost of the vehicle is minor than for standard vehicles.
Hence, the high cost of AEBS is expected to restrain the market during the forecast period.
The report on the Autonomous Emergency Braking System (AEBS) market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2018-2027 |
Base Year for Market Calculation |
2019 |
Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million), Volume (Units) |
Segments Included |
Components, Technology, Operating Speed and Application |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Autonomous Emergency Braking System (AEBS) Market, by Components
Autonomous Emergency Braking System (AEBS) Market, by Technology
Autonomous Emergency Braking System (AEBS) Market, Operating Speed
Autonomous Emergency Braking System (AEBS) Market, Application
Autonomous Emergency Braking System (AEBS) Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE AUTONOMOUS EMERGENCY BRAKING SYSTEM (AEBS) MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY