Automotive Autonomous Emergency Braking System Market 2024 - By Size, Share, Segments, Application, End-users And Growth Outlook By 2033
Overview and Scope
An automotive autonomous emergency
braking system refers to an advanced safety feature designed to prevent or
mitigate collisions by automatically applying the brakes when a potential
collision is detected. This system uses various sensors and technologies to
detect objects or vehicles in the vehicle's path and can initiate braking
independently of the driver to reduce the severity of an impact or avoid it
altogether.
Sizing and Forecast
The automotive autonomous
emergency braking system market size has grown exponentially in recent years.
It will grow from $21.38 billion in 2023 to $26.53 billion in 2024 at a
compound annual growth rate (CAGR) of 24.1%. The growth in the historic period
can be attributed to increasing safety regulations, rising consumer awareness,
industry dynamics, automotive sector shifts and insurance premium reduction.
The automotive autonomous
emergency braking system market size is expected to see exponential growth in
the next few years. It will grow to $63.19 billion in 2028 at a compound annual
growth rate (CAGR) of 24.2%. The growth in the forecast period can be attributed
to global safety standards, increasing consumer demand, ongoing technology
improvements, rising vehicle sales, insurance incentives. Major trends in the
forecast period include integration with advanced driver assistance systems
(ADAS), expansion into commercial vehicles, development of multi-sensor fusion
systems, enhanced pedestrian and cyclist detection, integration with
vehicle-to-everything (V2X) communication.
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Segmentation & Regional
Insights
The automotive autonomous
emergency braking system market covered in this report is segmented –
1) By System: Low-speed
Autonomous Emergency Braking System, High-speed Autonomous Emergency Braking
System
2) By Technology: Light
Detection And Ranging (LiDAR), Radar, Camera
3) By Vehicle Type:
Passenger Car, Commercial Vehicle
North America was the largest
region in the automotive autonomous emergency braking system market in 2023.
Europe is expected to be the fastest-growing region in the forecast period. The
regions covered in the automotive autonomous emergency braking system market
report are Asia-Pacific, Western Europe, Eastern Europe, North America, South
America, Middle East, Africa.
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Major Driver Impacting Market
Growth
The rising incidents of road
accidents are expected to propel the growth of the automotive autonomous
emergency braking system market going forward. A road accident refers to an
incident that occurs on a road or highway involving vehicles, pedestrians, cyclists,
or other road users, resulting in damage, injury, or death. Incidents of road
accidents are rising due to factors such as distracted driving, speeding,
impaired driving, fatigue, poor road conditions, adverse weather, increased
traffic, and aggressive driving. Automotive autonomous emergency braking
systems help prevent or mitigate accidents by automatically applying the
vehicle's brakes to avoid collisions or reduce their severity in critical
situations. For instance, in August 2022, according to the National Highway
Traffic Safety Administration, a US-based government agency, 9,560 individuals
died in traffic accidents in the first quarter of 2022, an increase of 7%
compared to the 8,935 fatalities for the same time period in 2021. Therefore,
the rising incidents of accidents are driving the growth of the automotive
autonomous emergency braking system market.
Key Industry Players
Major companies operating in the
automotive autonomous emergency braking system market are Hyundai Motor
Company, Robert Bosch GmbH, Hitachi Ltd., Panasonic Corporation, Denso
Corporation, AB Volvo, ZF Friedrichshafen AG, Continental AG, Mitsubishi Electric
Corporation, Aisin Seiki Co. Ltd., NVIDIA Corporation, Subaru, Valeo SA, Texas
Instruments Incorporated, Aptiv PLC, TRW Automotive Holdings Corp., Infineon
Technologies AG, NXP Semiconductors N.V., Renesas Electronics Corporation,
Autoliv Inc., Hella GmbH & Co. KGaA, Gentex Corporation, Delphi Automotive
PLC, Magneti Marelli S.p.A.
The automotive autonomous
emergency braking system market report table of contents includes:
1. Executive Summary
2. Automotive Autonomous Emergency
Braking System Market Characteristics
3. Automotive Autonomous Emergency
Braking System Market Trends And Strategies
4. Automotive Autonomous Emergency
Braking System Market - Macro Economic Scenario
5. Global Automotive Autonomous
Emergency Braking System Market Size and Growth
....................................
32. Global Automotive Autonomous
Emergency Braking System Market Competitive Benchmarking
33. Global Automotive Autonomous
Emergency Braking System Market Competitive Dashboard
34. Key Mergers And Acquisitions
In The Automotive Autonomous Emergency Braking System Market
35. Automotive Autonomous
Emergency Braking System Market Future Outlook and Potential Analysis
36. Appendix
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