Autonomous Emergency Braking (AEB) System Market by Key Technology (Camera, Fusion, LiDAR and Radar), Vehicle Type, Operating Speed, Application, Level of Automation Driving, Component (Actuators, Audible Buzzers) and Region - Global Forecast to 2025
Northbrook, IL -- (SBWIRE) -- 12/02/2019 -- The Autonomous Emergency Braking (AEB) System Market, by value, is projected to reach USD 55.31 billion by 2025, at a CAGR of 22.23% from 2020 to 2025. Government mandates in European countries and US and rising safety concerns are the major reasons for the growth of this market. Increased consumer spending power across developing economies also contributes towards the growth of autonomous emergency braking (AEB) system market.
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The autonomous emergency braking (AEB) system manufacturers are taking much efforts to increase the efficiency and reliability of these systems. The vehicles fitted with AEB systems are being crash tested on regular basis to evaluate the performance of these systems. Autonomous emergency braking (AEB) systems are being developed to operate at higher vehicle speeds and to reduce the time involved in object detection and automatic braking. Some of the leading players such as Robert Bosch GmbH (Germany), Continental AG (Germany), Denso Corporation (Japan), and ZF Friedrichshafen AG (Germany) have established their presence in this region.
Europe is expected to be the fastest growing region for AEB systems market, in terms of value. Government mandates in European countries such as UK, Germany, France, and others are expected to drive the growth of this market. European region also acts as the automotive hub for major automotive OEMs as their global headquarters, manufacturing facilities and R&D centers are located in this region, leading to wider adoption of driver safety products. The rising safety concerns due to high number of accidents are the primary reason for growth of AEB systems in this region.
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The Low Speed-City AEB systems are expected to lead the autonomous emergency braking (AEB) system market, in terms of value, by operating speed. The primary reason for growth of this market are that majority of vehicle accidents take place at a lower operating speed and may cause medium to high level of injury. Also, the number of vehicles being used across city-like road conditions is higher compared with the number of vehicles being used in inter-urban road conditions. Volvo Corporation (Sweden) is providing Volvo's City Safety system which is a Low-Speed City AEB system. ZF Friedrichshafen AG (Germany) has developed Evasive Maneuver Assist (EMA) system, which is mainly used in commercial vehicles. This system is a part of highway driving assist system that improves the vehicle safety by collision detection and avoidance. Various other market players such as Robert Bosch GmbH (Germany), Continental AG (Germany), Denso Corporation (Japan), and Knorr-Bremse AG (Germany) are adopting various strategies to increase their market share in autonomous emergency braking system market, by application.
- Market sizing in terms of Value, for AEB System Market by Level of Automation Driving
- Market sizing in terms of Volume and Value, for AEB System Market by End Market
- Market sizing in terms of Volume and Value, for AEB System Market by Electric Vehicle (EV) type
- Profiling of additional market players (Up to 3)
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