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The Autonomous Emergency Braking System market is witnessing significant growth due to the rising emphasis on road safety, stringent government regulations, and the increasing adoption of advanced driver assistance systems (ADAS) in vehicles.
The Autonomous Emergency Braking (AEB) System Market was valued at USD 36.75 Billion in 2023. It is anticipated to achieve a valuation of USD 192.52 Billion by 2031, experiencing a compound annual growth rate (CAGR) of 23% throughout the forecast period from 2024 to 2031.
Autonomous Emergency Braking System Market
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Market Scope:
Over the past few years, there has been a heightened awareness regarding road safety among consumers and regulatory authorities. This growing concern has driven significant advancements in the field of automotive automated emergency braking systems, leading to improved security measures and a reduction in the number of road accidents. Simultaneously, individual vehicle manufacturers have been proactively incorporating advanced braking technologies into their vehicles, with the primary objective of enhancing braking efficiency. Additionally, industry players have been offering a diverse range of products catering to this demand, further fueling the growth of the market during the forecast period.
Alarmingly, road accidents claim the lives of approximately 1.25 million people annually, with developing countries bearing the brunt of these tragic incidents. In response to this alarming statistic, numerous governments across the globe have taken decisive steps by imposing stringent regulations aimed at curbing the rising number of road accidents.
Recognizing the urgency of this issue, major automotive original equipment manufacturers (OEMs) have intensified their research and development efforts, channeling resources into developing cutting-edge technologies. The convergence of several factors, including the growing adoption of advanced braking systems, the emergence of advanced AI-powered systems, an increase in government vehicle safety norms, and a surge in global vehicle production, is expected to drive significant growth in the automotive autonomous emergency braking system market during the forecast period.
Prominent Key Players of Market
Continental AG (Germany)
Denso Corporation (Japan)
Robert Bosch (Germany)
Valeo (France)
Hyundai Mobis (South Korea)
Autoliv Inc (Sweden)
ZF Friedrichshafen (German)
Hitachi Automotive Systems (Japan)
Mando Corporation (South Korea)
Aisin Seiki Co (Japan)
Market Analysis
Consumers, regulatory bodies, and automobile manufacturers are increasingly focused on road safety, leading to a stronger emphasis on incorporating advanced safety technologies like emergency braking systems into vehicles. Consumers are increasingly prioritizing safety features when purchasing vehicles, seeking vehicles equipped with advanced safety technologies like emergency braking systems. Independent organizations like Euro NCAP and IIHS conduct safety tests and provide vehicle safety ratings, instilling consumer trust and boosting demand for vehicles with advanced braking systems. Road safety initiatives by international organizations, such as the World Health Organization, have gained significant attention, encouraging governments and manufacturers to invest and promote the adoption of advanced safety systems like AEB.
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Segment Analysis:
The Sensors segment dominates the Autonomous Emergency Braking (AEB) System Market by component, holding around 40-45% of the market share. Sensors are crucial for gathering data about the surrounding environment and detecting potential collisions, playing a vital role in triggering appropriate braking responses.
The Low Speed-City AEB Systems segment leads the market by operating speed, capturing around 55-60% of the market share. These systems are particularly important in urban environments with frequent stop-and-go traffic and a higher risk of pedestrian collisions, offering a readily deployable safety feature for a wider range of vehicles.
The Forward Emergency Braking segment dominates the market by application, accounting for around 70% of the market share. Forward AEB focuses on preventing frontal collisions with vehicles or stationary objects, offering a significant safety benefit for drivers and often being a prerequisite for achieving higher safety ratings.
Impact of Russia-Ukraine War:
The Russia-Ukraine conflict has disrupted the growth of the Autonomous Emergency Braking (AEB) System Market, impacting 5-10% of its share. This is due to dampened consumer spending caused by global inflation and potential recession, particularly affecting new car sales with high AEB adoption. Additionally, supply chain disruptions have led to up to 15% manufacturing hurdles for AEB systems due to chip shortages from factory closures and logistical bottlenecks. Geopolitical tensions have made sourcing raw materials and finished AEB components from certain regions challenging due to sanctions and a strained political climate, negatively impacting overall production. However, there are potential long-term benefits, such as increased focus on road safety measures leading to stricter government mandates for AEB systems and growing public awareness of the technology's life-saving capabilities, incentivizing car manufacturers to prioritize AEB integration.
Impact of Economic Slowdown:
Consumer spending is likely to decline by around 5-7%, especially for optional purchases like new vehicles, directly affecting AEB adoption as newer car models boasting advanced safety features are often the primary segment for AEB integration. The slowdown can worsen existing supply chain issues, with production lines potentially slowing down across industries, leading to a shortage of crucial components like semiconductors, often manufactured where factory shutdowns and logistical jams create roadblocks. This could result in delays of up to 10% in AEB system manufacturing.. However, economic downturns can sometimes lead governments to prioritize public safety measures, potentially boosting the adoption of AEB systems in the long run.
Key Regional Development:
North America is poised to lead the Autonomous Emergency Braking (AEB) System Market, driven by the region's unwavering commitment to road safety and stringent regulations. In the United States, 51% of the model lines offered by OEMs feature autonomous braking, with Tesla and Volvo providing AEB as a standard feature across their entire vehicle lineup. The NHTSA has proposed mandating automatic emergency braking and pedestrian AEB systems for passenger vehicles and light trucks, aiming to significantly reduce pedestrian-related accidents and rear-end collisions. If finalized, this rule is estimated to save at least 360 lives and prevent over 24,000 injuries annually. Additionally, the Department's Vulnerable Road User Safety Assessment initiative will evaluate states' safety performance and plans for vulnerable road users, putting pressure on OEMs to prioritize AEB integration to maintain their brand reputation and align with evolving government safety ratings.
Key Takeaways from the Report:
Comprehensive analysis of the global Autonomous Emergency Braking (AEB) System Market, including market size, growth drivers, and restraints.
Detailed segmentation analysis by component, operating speed, application, vehicle type, and region.
Insights into the competitive landscape, market share, and strategies of key players.
In-depth analysis of regional dynamics and market trends.
Identification of lucrative investment opportunities and potential growth areas.
Examination of the impact of the Russia-Ukraine war and economic slowdown on the market.
Recent Developments:
May 2023: Tesla Updated its automatic emergency braking system with the ability to operate in reverse driving mode, expected to improve driver and passenger safety during reverse driving.
October 2022: ZF Commercial Vehicle, one of the leading auto components manufacturers, showcased its“OnGuardMax” autonomous emergency braking system and electric power steering feature (adjustable) on two heavy-duty trucks, soon launching in North America.
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