Rising significance of both the occupant and the non-occupant safety will fuel automatic emergency braking (AEB) market share over the forecast timeframe. Common incidences of distracted driving due to mobile phone usage, unsafe road infrastructure and over speeding have contributed significantly towards road accidents.
As per the reports by the World Health Organization, road traffic injuries were considered as the major cause of death worldwide in 2018. AEB systems are increasingly being installed in order to reduce the severity of accidents and will further drive the growth of the industry. According to the National Highway Traffic Safety Administration (NHTSA), more than 129,000 pedestrians were recorded to have suffered crash-related injuries in the U.S. in 2015.
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Several countries have been taking initiatives to raise more awareness about safety against car crashes. Institute of Road Traffic Education introduced ‘Stop the Crash’ campaign in 2018 in order to depict the advantages of advanced vehicle systems like autonomous emergency braking and electronic stability control, rendering a positive impact on AEB development.
Will the standards laid by safety organizations prove to be beneficial for Automatic Emergency Braking (AEB) Market trends?
There has been a rise in the number of regional safety organizations which has gradually bolstered automatic emergency braking market forecast. For instance, organizations for vehicle crash safety that also includes the Global New Car Assessment Program (Global NCAP) have been coercing automobile manufacturers to promote the idea of safer cars.
AEB industry size form the forward collision warning segment was valued at over USD 5 billion in 2017. The feature is becoming common in not only luxury cars, but also in SUVs and medium-sized vehicles.
Organizations have laid down standards for crash tests and encouraged the manufacturers to commit to the given standards and ensure the vehicles exceed those requirements. NCAP has made its mark in several countries and is established in Korea, Australia and China to make sure the automakers adhere to the standards.
How will emerging EU regulations help foster automatic emergency braking industry size?
There have been strict government regulations in EU that mandate several features in passenger vehicles. These include seatbelts, ABS, parking sensors, airbags, electronic stability control systems, and automatic emergency braking system. Disc break segment had constituted nearly 65% of market share in 2017.
The European Commission in 2018 had announced the compulsory deployment of intelligent speed assistance and AEB system to be installed in all cars by 2030 which would further help the market expand further. Key industry players have been consistently involved in investing in Research and Development in order to launch enhanced technology for bettering the system performance.
For instance, Bosch launched iBooster, an advanced version of the automatic emergency braking system. The technology has the ability to detect cyclists by using specialized radar sensors and video by using sensor fusion technology, endorsing automatic emergency braking market trends.
What will be the impact of increased EV demand on Automatic Emergency Braking (AEB) Market size?
Countries like Canada, Germany and the U.S. are steadily adopting initiatives that propagate low carbon emissions to adhere to several of the international treaties which primarily includes the Paris Summit. AEB market size from electric & hybrid vehicles segment is expected to record more than 20% of CAGR due to the increasing issues with greenhouse gas emissions and vehicle pollution.
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The U.S.’s federal government has implemented policies for the promotion and use of electric vehicles. For instance, the American Recovery & Reinvestment Act is going to be providing tax credits within the range of USD 2,500 – 7,500 to every vehicle for urging the consumers to purchase EV while rendering a positive impact over Automatic Emergency Braking (AEB) Market share.
Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1.1 Initial data exploration
1.1.2 Statistical model and forecast
1.1.3 Industry Insights and validation
1.1.4 Scope, definitions, & forecast parameters
22.214.171.124 Forecast parameters & considerations
1.2 Data Sources
Chapter 2 Automatic Emergency Braking (AEB) Market Summary
2.1 Automatic emergency braking industry 3600 synopsis, 2013 – 2024
2.1.1 Business trends
2.1.2 Brake trends
2.1.3 Vehicle trends
2.1.4 Technology trends
2.1.5 Regional trends
Chapter 3 Automatic Emergency Braking (AEB) Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013 – 2024
3.3 Industry ecosystem analysis
3.3.1 Technology suppliers
3.3.3 Profit margin analysis
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