Automatic Emergency Braking (AEB) Market Revenue And Industry Forecasts Till, 2014 - 2025
Author : samual sttdhag | Published On : 06 May 2021
Global Automatic Emergency Braking (AEB) Market is estimated to grow significantly in the years to come owing to the increasing need for security from consumers and rising government initiatives worldwide. Automatic emergency braking (AEB) is an autonomous vehicle safety, which uses sensors to monitor the proximity of passing vehicles. It detects the probable accidental situations and raises an alarm prior to the collision.
In such cases, emergency brakes are applied to avoid the accidents or to lessen the effects. Most automobile drivers apply delayed brakes which causes road mishaps. The reason behind these accidents may be due to inattentiveness, sleepiness, distraction, lack of visibility, lack of concentration, time of the day, sudden medical emergency or weather conditions. Automatic emergency braking systems are designed to avoid these instances and support the driver throughout the journey.
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In case the driver fails to slam the brakes, the automatic emergency braking system will automatically apply brakes with different levels of force with the help of smart algorithm for speed, momentum, trajectory, and others to lessen the impact or avoid the collision. Increasing awareness concerning pedestrian and passenger safety along with government mandates to connect safety related tools in the automobile are the key factors boosting automatic emergency braking industry.
Emphasis of OEMs is to safeguard the passengers and driver inside vehicle due to which the technologies were progressed in combination to AEB system. For example, the anti-locking braking system and seat belts were introduced to protect the people inside vehicle. Hence, OEMs manufacture vehicle design to install the tools required for AEB system. Despite less adoption of vehicles in the past years, most manufacturers have started installing AEB systems as a standard feature in few models.
Initially, AEB systems were installed only for the luxury automobiles. Due to the high initial costs associated with research & development for these systems, ORMs are emphasizing to install these tools only in high-end automobiles to balance the development cost. Additionally, the hardware infrastructure can be enhanced in future to offer more safety, which will fuel the automatic emergency braking market.
However, automatic emergency braking (AEB) industry is restrained by lack of penetration in emerging economies despite of high spending power among consumers. Unreliable performance and high costs associated with these technologies in few countries are hampering the growth of the market.
AEB market is categorized on the basis of vehicle type, technology, operating speed, application, level of automation driving, component, and geography. On the basis of vehicle type, the market is divided into PV (passenger vehicles) and CV (commercial vehicles). Owing to high safety concerns among users, passenger vehicles are expected to lead the industry in the coming years.
Based on operating speed, the market is classified into high speed-inter urban AEB systems, low speed-city AEB systems, and pedestrian-VRU (Vulnerable Road Users) AEB systems. Due to the high vehicle density and city-road mishaps, AEB systems is predicted to hold larger market share of automatic emergency braking (AEB) in the forecast period.
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In terms of applications, AEB industry is divided into forward emergency braking, reverse emergency braking, and multi-directional braking. Forward emergency braking is predicted to lead the industry on the basis of high application. Based on level of automation driving, the market is divided into autonomous passenger car and semi-autonomous passenger car. Semi-autonomous passenger car is expected to hold larger market share of automatic emergency braking due to their higher volume as compared to other autonomous passenger cars.
On the basis of component, the automatic emergency braking (AEB) market is split into actuators, audible buzzers, controllers, sensors, and visual indicators. Actuators are expected to dominate the market owing to high requirement for actuators as compared to other components.
Geographically, the market is segmented as North America, Europe, Asia Pacific, and RoW. Asia Pacific is expected to dominate the market in the years to come due to the growing presence of technology in the region. The major players of automatic emergency braking (AEB) industry are Tesla Inc., Ford Motor Company, Toyota Motor Corporation, Daimler AG, Volvo Car Corporation, Audi AG, Jaguar Land Rover Automotive Plc, BMW Group, Volkswagen Group, and Honda Motor Company Ltd.