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Written by varun » Updated on: September 25th, 2024
The global autonomous emergency braking system (AEB) market is anticipated to witness significant growth during the forecast period, driven by increasing safety concerns among consumers and government initiatives aimed at reducing road accidents. AEB systems, which automatically apply brakes in critical situations to prevent collisions, have garnered substantial attention in the automotive industry due to their potential to reduce accidents and improve overall road safety.
This report provides an in-depth analysis of the global AEB market, exploring various factors driving growth, market segmentation, challenges, and future trends. We will also examine the major players operating in the market and the competitive strategies they employ to maintain market leadership.
The rise in the number of road accidents globally is a primary factor driving the growth of the AEB market. With an increase in road fatalities and injuries, governments and regulatory bodies are implementing stricter safety regulations. These concerns have prompted both consumers and automakers to adopt advanced safety technologies, including AEB systems.
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Many governments worldwide are proactively working to improve vehicle safety through regulations mandating the integration of AEB systems in vehicles. For instance, in Europe, AEB has been made mandatory in new cars starting from 2022 as part of the European Union's efforts to halve the number of road fatalities by 2030.
Similar regulations are being implemented in other regions, including the United States and Asia-Pacific, driving demand for AEB systems.
Automakers and technology providers are investing in the development of advanced AEB systems that use sensors, cameras, and radar to detect obstacles and apply brakes autonomously. These technological advancements are enhancing the effectiveness and reliability of AEB systems, further boosting their adoption in vehicles.
The demand for passenger cars is increasing, particularly in emerging markets such as China, India, and Brazil. Rising income levels, urbanization, and growing vehicle ownership are key factors contributing to the surge in passenger car sales. As a result, automakers are increasingly integrating AEB systems into their vehicles to meet consumer demand for advanced safety features.
Consumers are becoming more aware of the importance of road safety and are seeking vehicles equipped with advanced safety technologies. AEB systems, which offer an additional layer of protection, are gaining popularity among safety-conscious consumers. This trend is expected to further drive the growth of the global AEB market.
Rapid urbanization and the subsequent rise in traffic congestion, particularly in developing economies, have increased the likelihood of accidents in city environments. AEB systems, especially low-speed city AEB systems, play a crucial role in preventing accidents in urban settings. As cities grow and traffic density increases, the demand for AEB systems is expected to rise.
Despite the numerous benefits of AEB systems, their high cost remains a significant barrier to market growth. The integration of advanced sensors, cameras, and radar systems into vehicles adds to the overall cost of production. This may deter some consumers, particularly in price-sensitive markets, from opting for vehicles equipped with AEB systems.
In many regions, especially in developing countries, the lack of proper road infrastructure poses a challenge to the effective implementation of AEB systems. Poorly maintained roads, lack of road markings, and unpredictable traffic patterns can limit the effectiveness of AEB systems, potentially hampering their widespread adoption in certain regions.
The passenger car segment is expected to dominate the global AEB market, driven by rising income levels and growing consumer demand for safer vehicles. With increased vehicle ownership, particularly in emerging economies, the production of passenger cars equipped with AEB systems is on the rise. In addition, the integration of AEB in passenger cars is seen as a key differentiator for automakers, further driving demand.
While the passenger car segment holds the largest market share, the demand for AEB systems in light commercial vehicles (LCVs) and medium & heavy commercial vehicles (MHCVs) is also growing. This can be attributed to the increasing focus on safety in commercial transportation and logistics sectors, where accidents can result in significant financial losses.
High speed-inter urban AEB systems are designed to prevent collisions on highways and intercity roads. These systems are particularly effective in reducing the severity of high-speed collisions, making them crucial for long-distance and high-speed travel. As highway infrastructure continues to improve globally, the demand for high-speed AEB systems is expected to grow.
Low speed-city AEB systems are widely used in urban environments, where traffic congestion and lower speed limits increase the risk of rear-end collisions. These systems are designed to prevent accidents in stop-and-go traffic, making them essential for city driving. With rapid urbanization and increased vehicle density in cities, low-speed AEB systems are expected to dominate the market.
Pedestrian and vulnerable road user (VRU) AEB systems are specifically designed to detect pedestrians, cyclists, and other vulnerable individuals on the road. These systems play a vital role in preventing accidents involving pedestrians, which account for a significant proportion of road fatalities. The growing focus on pedestrian safety, especially in urban areas, is driving the adoption of VRU AEB systems.
AEB systems can be categorized into different operating systems based on their capabilities and functionality:
Radar-based AEB systems use radar sensors to detect obstacles and measure the distance between the vehicle and potential hazards. These systems are highly effective in detecting objects in low-visibility conditions such as fog, rain, and nighttime driving. The reliability and accuracy of radar-based AEB systems are expected to drive their adoption in various vehicle types.
Camera-based AEB systems rely on visual sensors to detect objects in the vehicle’s path. These systems are often used in combination with radar-based systems to provide a more comprehensive detection capability. Camera-based AEB systems are particularly effective in identifying pedestrians and cyclists, enhancing safety in urban environments.
Fusion-based AEB systems combine data from multiple sensors, including radar, cameras, and lidar, to create a more accurate and reliable detection system. These systems offer enhanced safety features and are expected to gain popularity in premium vehicles.
AEB systems play a critical role in enhancing passenger safety by automatically applying brakes to avoid collisions or reduce their severity. With rising concerns about passenger safety, particularly in high-density traffic areas, automakers are increasingly incorporating AEB systems into their vehicles.
The integration of pedestrian detection capabilities in AEB systems has become a key focus for automakers. As urbanization increases and pedestrian traffic grows, the demand for AEB systems that prioritize pedestrian safety is expected to rise.
The global AEB market is highly competitive, with several major players dominating the market. Key companies in the market include:
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To maintain market leadership, major players in the AEB market are employing various competitive strategies, including:
Companies are investing heavily in research and development to launch advanced AEB systems with improved functionality and accuracy. The introduction of fusion-based AEB systems that combine radar, cameras, and lidar has been a key focus for many leading players.
Strategic mergers and acquisitions have been instrumental in expanding the market presence of key players. By acquiring smaller companies with specialized expertise in AEB technology, major players are enhancing their product portfolios and strengthening their market positions.
The global autonomous emergency braking (AEB) system market is poised for substantial growth during the forecast period, driven by increasing safety concerns, regulatory support, and technological advancements. The market is expected to benefit from the rising demand for passenger cars and commercial vehicles equipped with AEB systems. However, challenges such as high costs and inadequate infrastructure may hinder market growth to some extent.
As automakers and technology providers continue to innovate and enhance AEB systems, the market is expected to witness new opportunities for growth, particularly in emerging economies.
Leading players in the market are focusing on product development and strategic partnerships to maintain their competitive edge and capitalize on the growing demand for advanced vehicle safety systems.
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