Automatic Emergency Braking Market - 45 million unit installations by 2024
OCEAN VIEW, Del., Nov. 7, 2017 /PRNewswire-iReach/ -- Automatic Emergency Braking (AEB) Market will be valued USD 15 billion by 2024, as per a new research report by Global Market Insights, Inc. Growing awareness about vehicle safety among customers and manufacturers will drive the AEB market.
Governments and other organizations are actively involved in introducing and mandating the utilization of these technologies in vehicles. Rear end collisions that occur due to tailgating are the most common types of accidents. The U.S. National Highway Traffic Safety Administration (NHTSA) reports that rear-end collisions represent one-third of the vehicle crashes. While few accidents cause human losses, some involve major injuries and property damages.
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The European Commission has adopted road safety programs aimed at reducing road deaths in Europe between 2011 and 2020. These programs set various initiatives focusing on improving vehicle safety, infrastructure, and road user behavior. From 2014, Euro NCAP mandated vehicles in the EU were to be equipped with active safety systems, which avoid or mitigate collisions with low and intermediate speed to achieve a 5-star rating. This assessment particularly focused on the quality aspect of how well driver assistance systems perform in a given test scenario.
AEB market adoption depends upon the nature of the road conditions. Real-time up-to-date information is a critical element of the system, which includes information about dynamic road conditions, intended action of other vehicles, and environmental or road infrastructure. The economic factors associated with the AEB market growth include decreasing the severity of accidents, which reduces the vehicle damage and reduces insurance claims. Moreover, insurance companies are also lowering their premiums.
High acceptance rates in developed countries are likely to encourage the adoption of autonomous vehicles. However, the lack of penetration in emerging countries is restricting the automatic emergency braking market growth despite the high willingness to buy AEB-enabled vehicles. The growth of the ADAS component suppliers depends on its penetration, regulations, and availability.
Mandatory governmental regulations drive the AEB market demand in Heavy Commercial Vehicle (HCV) and Light Commercial Vehicles (LCV). Rising road crashes and fatality chances by HCVs create demand for AEB installation to avoid property and human losses that occur due to accidents. The EU region has currently mandated technology incorporation for commercial vehicles as a high priority.
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EMEA automatic emergency braking market share was over 45% in 2015. Consumers in the EU are focused towards adopting advanced safety technologies thus driving the AEB market demand.
The APAC automatic emergency braking market will show future growth prospects during the forecast period owing to the rising infrastructure development required for installation. Growing infrastructure and highway development are likely to present considerable growth opportunity for the application of these technologies in inter-city and city traffic.
The willingness to adopt these systems among consumers is high in developing countries, but the price and infrastructure required for this technology are restricting the adoption. Companies succeeding in providing cost-effective and need-specific features are likely to get economic benefits and brand differentiation.
Some AEB market participants are Bosch, Autoliv, Mobileye, Continental, and ZF-TRW. Frequent mergers and acquisitions along with collaborations are among the major trends. For instance, Bosch in collaboration with Land Rover has developed stereo vision camera, which can operate AEB stand-alone with no extra sensors. It eliminates the use of radar combination and video sensors.\
Browse key industry insights spread across 90 pages with 29 market data tables & 33 figures & charts from the report, "Automatic Emergency Braking (AEB) Market Size By Vehicle Type (Commercial Vehicles, Passenger Vehicles), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, China, Japan, South Korea, Brazil, Mexico), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/automatic-emergency-braking-AEB-Market
Chapter 3. Automatic Emergency Braking Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2014 – 2024 (USD Million) (Million Units)
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.3.2. Distribution channel analysis
3.4. Technology & innovation landscape
3.4.1. Sensor fusion technology
3.4.2. Stereo video camera
3.5. Regulatory landscape
3.5.1. U.S.
3.5.2. EU
3.5.3. China
3.6. Vehicles sales statistics
3.6.1. U.S.
3.6.2. Canada
3.6.3. Germany
3.6.4. UK
3.6.5. China
3.6.6. Japan
3.7. Industry impact forces
3.7.1. Growth drivers
3.7.1.1. Increasing consumer awareness regarding safety
3.7.1.2. OEMs to offer AEB as a standard option
3.7.1.3. Encouragement of safety technologies by new car assessment programme (NCAP)
3.7.2. Industry pitfalls & challenges
3.7.2.1. High costs associated with AEB
3.7.2.2. Lack of infrastructure
3.8. Growth potential analysis
3.9. Porter's analysis
3.10. Competitive landscape, 2015
3.10.1. Strategy dashboard
3.10.1.1. Joint ventures
3.10.1.2. New product development
3.11. PESTEL analysis
Browse Full TOC @ https://www.gminsights.com/toc/detail/automatic-emergency-braking-AEB-Market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Media Contact: Arun Hegde, Global Market Insights, Inc., +13028467766, [email protected]
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