Automatic Emergency Braking (AEB) Market set for massive growth from 2016 to 2024
Date: 2018-09-03   Author: Ronak Bora  Category: #market

Automatic Emergency Braking (AEB) Market set for massive growth from 2016 to 2024

Automatic Emergency Braking (AEB) Market is anticipated to grow at 29% CAGR by 2024. Growing awareness regarding pedestrian and passenger safety is driving the industry growth. Avoidance of tailgating, increasing consumer awareness, and extensive R&D activities carried out by OEMs will further escalate the industry growth. Various major automotive players have started incorporating basic AEB systems as standard option for mass market models. Moreover, the regulatory bodies are striving to incorporate novel technologies to vehicles to increase overall safety.

Automatic emergency braking (AEB) market is dominated by passenger vehicles segment due to high adoption rate in luxury or high-end vehicles. Rising sales of passenger vehicles due to tax rebates. Commercial vehicles will also show steady growth rate during forecast period.

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Emergence of automatic driverless cars will bring various opportunities for this market. The implementation of these systems in an automatic driverless car is necessary. Commercialization of such vehicles will induce enormous potential to automatic emergency braking system market. Manufacturers generally prefer designing and testing of these systems instead of outsourcing from suppliers to deliver more innovative lasers, sensors, and cameras. Established players in automobile industry are adopting aggressive strategies such as mergers, acquisitions, and alliances to gain competitive edge in automatic emergency braking (AEB) market. For instance, in February 2016, Luxoft Holding, Inc announced a strategic acquisition of Symtavision Gmbh for architecture optimization, timing verification, and scheduling analysis.

The initial cost of these systems is very high due to high R&D expenditure on them. This has led to automatic emergency braking systems deployment only in high end vehicles that acts as a restraint to this industry. Unreliable performance of these systems and lack of incentive for automakers and road management bodies is likely to pose a threat to the industry growth. Moreover, improving the efficiency of this system to prevent collision is the challenge for the industry participants.

These systems employ radar, laser or cameras and sensors to monitor the threat and identify potential collisions with other pedestrians, vehicles or hazards. There are three types in this system namely low speed which are meant for city driving, high speed for highway driving and pedestrian which detect possible threat of pedestrians. The automatic emergency braking (AEB) market is highly regulated by various authorities such as European Commission in Europe and National Highway Traffic Safety Administration (NHTSA), Department of Transportation (DOT) in United States. These regulators have laid down guidelines regarding designing and testing of the AEB systems. For instance, since November 2015, EU has mandated installation of automatic emergency braking (AEB) systems for all vehicles over 7.5 ton.

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Europe and Middle East & Africa is anticipated to dominate the automatic emergency braking (AEB) market. This growth can be attributed to the presence of major players and early adoption of these systems in developed countries such as UK and Germany.

Asia Pacific will grow substantially during the forecast period owing to the increasing infrastructural developments in the region.

Automatic emergency braking (AEB) market is highly consolidated with few players dominating the major market share. The key players in this market include Bosch, Mobileye, Autoliv, Continental, and ZF-TRW. Various OEMs have developed their own AEB systems rather than outsourcing it. AEB manufacturers have collaborated with automotive manufacturers for growth. For instance, Bosch has collaborated with Land Rover and developed AEB stand-alone using stereo vision camera and does not require additional sensors.

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Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.

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