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Autonomous Emergency Braking System Market Accelerates to $192.52 Bn Valuation, Driven by Vehicle Safety Innovations

Autonomous Emergency Braking System Market Accelerates to 2.52 Bn Valuation, Driven by Vehicle Safety Innovations

Autonomous Emergency Braking System Market Analysis

Autonomous Emergency Braking System Market Size, Share, Growth Factors, Industry Scope and Recent Trends

AUSTIN, TEXAS, UNITED STATES, June 20, 2024 /EINPresswire.com/ — The Autonomous Emergency Braking (AEB) System Market Size was valued at USD 36.75 billion in 2023 and is expected to reach USD 192.52 billion by 2031, growing at a CAGR of 23% over the forecast period 2024-2031.

The rise in demand for enhanced vehicle safety features, driven by increasing global road traffic and regulatory mandates, fuels the growth of the Autonomous Emergency Braking (AEB) System Market. Numerous other factors are driving the market such as Customers are putting a higher priority on safety technology when buying cars, which is driving up demand for advanced safety features. In order to develop advanced AEB components and increase their market share, major players in the industry are investing in R&D and innovation. The market’s expansion has also been aided by the recovery in demand for AEB systems following disruptions caused by pandemics.

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The Autonomous Emergency Braking (AEB) System Market benefits from several growth factors, including technological advancements in sensor technology and the integration of AI-driven algorithms for enhanced collision detection and response. Moreover, the rising adoption of electric vehicles (EVs) and the proliferation of semi-autonomous and autonomous vehicles are expected to further boost market expansion.The market offers a number of other opportunities. North America’s growing traffic accident rate is driving the need for stricter auto safety regulations and a greater uptake of AEB systems. AEB and other advanced driver assistance systems are becoming more and more in demand as the number of semi-autonomous vehicles increases. The benefits of AEB systems and road safety are receiving attention from governments, regulatory agencies, and insurance providers, which is propelling the market’s expansion.

Top Key Players of Autonomous Emergency Braking System Market

-Robert Bosch GmbH (Germany)

-ZF Friedrichshafen AG (Germany)

-Continental AG (Germany)

-Denso Corporation (Japan)

-Valeo S.A. (France)

-Hyundai Mobis Co. Ltd. (South Korea)

-Aisin Seiki Co. Ltd. (Japan)

-Paccar Inc. (DAF) (US)

-Autoliv Inc. (Sweden)

-Delphi Automotive PLC (UK)

-Infineon Technologies AG (Germany)

-Knorr-Bremse AG (Germany)

-Mando Corporation (South Korea)

-Analog Devices Inc. (US)

-Wabco Holdings Inc. (US)

Recent Developments:

In May 2023, Tesla enhanced its AEB system by introducing reverse driving mode capabilities, aimed at further improving vehicle safety during challenging driving scenarios.

In February 2022, ABB revolutionized marine safety standards with the introduction of the ABB Ability Marine Braking Assistance System, setting new benchmarks for safety in the maritime industry.

Segment Analysis:

By Component:

-Actuators

-Audible Buzzers

-Sensors

-Controllers

-Visual Indicators

By Component: Sensors segment dominate with a market share of more than 40%. Sensors are integral to AEB systems, enabling the detection of potential collisions by gathering critical environmental data, such as proximity to other vehicles or pedestrians.

By Operating Speed:

-High Speed-Inter Urban AEB Systems

-Pedestrian-VRU (Vulnerable Road Users) AEB Systems

-Low Speed-City AEB Systems

By Operating Speed: Low Speed-City AEB Systems segment, hold the largest market share, approximately 55-60 %. These systems are crucial for urban environments, where frequent stops and pedestrian interactions necessitate enhanced safety measures.

By Application:

-Forward Emergency Braking

-Multi-directional Braking

-Reverse Emergency Braking

By Application: Forward Emergency Braking segment, accounts for the largest share in applications, around 70%. It focuses on preventing frontal collisions by automatically applying brakes when an imminent collision is detected, thus mitigating potential accidents.

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Regional Analysis:

North America leads the AEB System Market with a market share of 35-40%. This dominance is driven by strong consumer demand for advanced safety features in vehicles, supported by stringent regulatory frameworks promoting ADAS adoption. A increasing concern for road safety and an emphasis on minimizing accidents have led to many recent opportunities and advancements in the North American market for autonomous emergency braking (AEB) systems. In North America, the number of consumers who prioritize vehicles with advanced safety features like as AEB systems is rising due to increased consumer knowledge and demand for these features. In response to rising consumer demand, Original Equipment Manufacturers (OEMs) are including AEB systems as standard or optional features in their vehicle models more and more.

By forming alliances and making acquisitions with tier 1 and tier 2 businesses, major market participants like Robert Bosch GmbH are fortifying their position in North America, enabling them to create more sophisticated AEB components and increase their market share. This R&D and innovation expenditure.

For Example:

In October 2022, ZF’s Commercial Vehicle division tested cutting-edge AEB systems on heavy-duty trucks for the North American market, to create and incorporate increasingly advanced autonomous emergency brake systems for the commercial vehicle market.

In August 2022, The Insurance Institute for Highway Safety released a new nighttime AEB system test , recognizing exceptional performance in a few car types. The continued efforts to improve the capabilities of the AEB system and safety standards are demonstrated by this partnership between the regulatory body and automakers.

Europe follows as the second highest region, holding 30-35% of the market share, thanks to robust automotive safety regulations and a technologically advanced automotive sector. The Asia Pacific region exhibits the fastest growth, with a market share of 20-25%, fueled by burgeoning vehicle production and increasing safety awareness among consumers in countries like China and India.

Key Takeaways for the Autonomous Emergency Braking (AEB) System Market:

Increasing global road traffic and regulatory mandates propel the growth of the AEB System Market.

Technological advancements in sensor technology and AI algorithms enhance AEB system capabilities.

Rising adoption of electric and autonomous vehicles boosts demand for AEB systems.

Forward Emergency Braking remains the dominant application due to its critical role in preventing frontal collisions.

North America leads the market, driven by strong consumer demand and regulatory support for vehicle safety features.

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Akash Anand
SNS Insider Pvt. Ltd
+1 415-230-0044
[email protected]

Originally published at https://www.einpresswire.com/article/721327661/autonomous-emergency-braking-system-market-accelerates-to-192-52-bn-valuation-driven-by-vehicle-safety-innovations

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