Automatic Emergency Braking (AEB) Market To Witness Growth Based On Rising Need For Security From The Government And Consumer Sectors Till 2024: Grand View Research, Inc.

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According to the report published by Grand View Research, global automatic emergency braking (AEB) market size will reach 46.86 million units by 2024, the increasing awareness among consumers, extensive R&D by market players, and updated ratings of safety agencies have fueled the market growth.

AEB systems occupy a position in the ‘forward collision avoidance & warning’ systems portfolio that addresses inattentive driving or oversight by notifying when a collision is imminent via visual, audio, or haptic signals. Forward collision warning systems rely on the driver’s discretion to successfully avoid the collision and, in some cases, automatically brake the vehicle if the driver fails to do so. AEB systems would reduce the number of crashes and help in improving traffic safety.

The incorporation of motion sensors into motor vehicles enable the monitoring of the driver’s attentiveness, which helps to prevent road accidents and augments the safety and security needs of people. Sensors with attached AEBs, wireless connectivity, predictive analytics, and context aware algorithms enable the evolution of smart automobile that are capable of making autonomous and intelligent decisions.

Collision avoidance sensors significantly reduce the number of fatalities caused due to road accidents, which not only benefits the car occupants but also pedestrians, cyclists, and other vehicle occupants. Technological advancements and R&D are expected to provide cost-effective solutions for the automotive LiDAR technology, which, at present, is bulky and extremely expensive for automotive applications.

The AEB systems market is poised for a sharp growth in the years to come, owing to the surge in efforts toward the development of fully autonomous cars. Self-driving vehicles operate with the help of onboard computers that are fed data through an array of sensors. The mass production and consumer adoption of autonomous self-driving vehicles may offer a significant growth opportunity for the AEB systems market.

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Further key findings from the report suggest:

  • The installation base of advanced safety features is increasing exponentially. Alcohol ignition interlocks, emergency call systems, and accident data recorder systems are some examples of technologies where future demand is expected to spur the market growth.
  •  South America is anticipated to witness a delayed adoption of this technology due to several governmental regulations with respect to road traffic. Furthermore, the absence of regional technology providers may also delay the adoption of this technology in South America.
  • Consumers in the UK have a high preference for tech-savvy products, due to which the AEB system adoption is anticipated to be a perfect fit for the same
  • The key players in the AEB market include Robert Bosch GmbH (Germany), Autoliv Inc. (Sweden), and ZF Friedrichshafen AG (ZF TRW) (U.S.). Companies are focusing on developing innovative products to minimize the production cost.

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Grand View Research has segmented the automatic emergency breaking market on the basis of region:

AEB Regional Outlook (Revenue, USD Thousand units, 2014 – 2024)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • MEA

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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