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Written by [email protected] » Updated on: October 23rd, 2024
According to TechSci Research report, “Global Automotive Commercial Vehicles Emergency Braking System Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Automotive Commercial Vehicles Emergency Braking System Market stood at USD 13 billion in 2022 and is anticipated to grow with a CAGR of 13.5% in the forecast period, 2024-2028.
The Global Automotive Commercial Vehicles Emergency Braking System Market is experiencing a transformative evolution, revolutionizing safety standards in the commercial vehicle sector. This market segment is dedicated to preventing accidents and mitigating their severity through the integration of advanced emergency braking systems, also known as Autonomous Emergency Braking (AEB) or Collision Avoidance Systems.
At the heart of these systems are an array of sophisticated sensors, including radar, LiDAR, cameras, and ultrasonic sensors, which work in harmony to continuously monitor the vehicle's surroundings.
These sensors feed real-time data to complex algorithms, enabling the system to swiftly detect potential collision risks with pedestrians, cyclists, other vehicles, or obstacles in the vehicle's path. The result is an instantaneous decision-making process that initiates automatic braking when an imminent collision is foreseen. The market's growth is primarily driven by the paramount concern for road safety. Governments worldwide are mandating stricter safety standards and regulations for commercial vehicles, compelling manufacturers to prioritize advanced safety technologies like emergency braking systems.
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The Global Automotive Commercial Vehicles Emergency Braking System Market represents a dynamic and transformative segment within the automotive industry, dedicated to enhancing safety and preventing accidents in commercial vehicles. These systems, often referred to as Autonomous Emergency Braking (AEB) or Collision Avoidance Systems, have emerged as a cornerstone of modern commercial vehicle safety, employing cutting-edge technology to mitigate accident severity or entirely prevent collisions.
At the core of these systems lies a complex network of sensors, including radar, LiDAR, cameras, and ultrasonic sensors, which work in concert to continuously monitor the vehicle's surroundings. This real-time data is fed into advanced algorithms, enabling the system to rapidly identify potential collision risks with pedestrians, cyclists, other vehicles, or obstacles on the road. The result is a swift and decisive response, with the system initiating automatic braking when an imminent collision is anticipated.
The most influential driver for this market is the implementation of stringent regulatory mandates and safety standards by governments and authorities across the globe.
In a concerted effort to enhance road safety and minimize the severity of accidents involving commercial vehicles, regulatory bodies have introduced comprehensive regulations mandating the integration of advanced safety systems, with emergency braking systems at the forefront. These regulations impose specific safety requirements and performance criteria on commercial vehicle braking systems. Compliance with these standards is not just a legal requirement but also a critical aspect of safeguarding an automaker's reputation. As a result, manufacturers are compelled to incorporate advanced emergency braking systems into their commercial vehicles, thereby propelling the growth of this market.
A growing emphasis on fleet safety represents another significant driver of the Global Automotive Commercial Vehicles Emergency Braking System Market. Commercial fleets play an indispensable role in various industries, including logistics, transportation, and construction, making the safety of these vehicles and their drivers a top priority for businesses. Fleet operators have come to recognize the immense value of emergency braking systems in preventing accidents, reducing insurance costs, and safeguarding their assets and workforce. Consequently, they actively seek commercial vehicles equipped with advanced emergency braking technology.
Rapid technological advancements are a pivotal driving force in the Global Automotive Commercial Vehicles Emergency Braking System Market. These systems have evolved significantly over the years, thanks to advancements in sensor technologies, artificial intelligence, and machine learning. Modern emergency braking systems rely on a myriad of sensors, such as radar and LiDAR, to distinguish between different objects and accurately estimate their distance and relative velocity. These sensors provide invaluable information about the vehicle's surroundings, allowing the system to make real-time decisions when detecting an impending collision.
The potential for insurance premium reductions serves as a notable driver for the adoption of emergency braking systems in commercial vehicles. Insurance companies recognize the safety benefits of these systems and often offer discounts or lower premiums to fleet operators and commercial vehicle owners who equip their vehicles with AEB technology. By reducing the likelihood and severity of accidents, emergency braking systems can lead to lower insurance claims and reduced costs for insurers. As a result, many insurance providers encourage the installation of these systems as a risk mitigation measure.
A growing concern for the safety of vulnerable road users, including pedestrians and cyclists, plays a pivotal role in the adoption of emergency braking systems in commercial vehicles. Rapid urbanization and evolving transportation patterns have led to increased interactions between commercial vehicles and these vulnerable road users, making accident prevention a top priority. Emergency braking systems are designed to recognize the unique movement patterns and characteristics of pedestrians and cyclists, enabling the vehicle to respond swiftly to potential collisions. This capability aligns with the evolving societal awareness of the need to protect vulnerable road users.
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“The Global Automotive Commercial Vehicles Emergency Braking System Market is at the forefront of safety innovation in the commercial vehicle industry. These systems, equipped with advanced sensors and algorithms, continuously monitor the vehicle's surroundings, swiftly detecting potential collision risks with pedestrians, cyclists, vehicles, or obstacles. The market's growth is driven by stringent safety regulations, a heightened focus on fleet safety, technological advancements, insurance incentives, and an increasing concern for vulnerable road users. Commercial vehicle manufacturers and fleet operators are recognizing the immense value of these systems in accident prevention, cost reduction, and overall road safety enhancement. As the market continues to evolve, it promises to play a pivotal role in minimizing accidents, protecting lives, and elevating the safety standards of commercial vehicles globally.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Automotive Commercial Vehicles Emergency Braking System Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Sensor Type (Camera, Lidar, Radar), By Technology (Forward Collision warning, Dynamic brake support, Crash imminent braking), By Region, By Competition, 2018-2028”, has evaluated the future growth potential of Global Automotive Commercial Vehicles Emergency Braking System Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Automotive Commercial Vehicles Emergency Braking System Market.
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1.1. Market Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
2.1. Objective of theStudy
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Sensor Type Market Share Analysis (Camera, Lidar, Radar)
5.2.2. By Technology Type Market Share Analysis (Forward Collision warning, Dynamic brake support, Crash imminent braking)
5.2.3. By Regional Market Share Analysis
5.2.3.1. Asia-Pacific Market Share Analysis
5.2.3.2. Europe & CIS Market Share Analysis
5.2.3.3. North America Market Share Analysis
5.2.3.4. South America Market Share Analysis
5.2.3.5. Middle East & Africa Market Share Analysis
5.2.4. By Company Market Share Analysis (Top 5 Companies, Others - By Value & Volume, 2022)
5.3. Global Automotive Commercial Vehicles Emergency Braking System Market Mapping & Opportunity Assessment
5.3.1. By Sensor Type Market Mapping & Opportunity Assessment
5.3.2. By Technology Type Market Mapping & Opportunity Assessment
5.3.3. By Regional Market Mapping & Opportunity Assessment
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Sensor Type Market Share Analysis
6.2.2. By Technology Type Market Share Analysis
6.2.3. By Country Market Share Analysis
6.2.3.1. China Market Share Analysis
6.2.3.2. India Market Share Analysis
6.2.3.3. Japan Market Share Analysis
6.2.3.4. Indonesia Market Share Analysis
6.2.3.5. Thailand Market Share Analysis
6.2.3.6. South Korea Market Share Analysis
6.2.3.7. Australia Market Share Analysis
6.2.3.8. Rest of Asia-Pacific Market Share Analysis
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