Autonomous Emergency Braking Market to Exhibit a CAGR of 8.1% and Hit USD 5.1 Billion till 2026
Pune, India, March 03, 2021 (GLOBE NEWSWIRE) — According to the report, Autonomous Emergency Braking market size is projected to reach USD 5.1 Billion by 2027. Autonomous Emergency Braking Market was worth USD 2.8 billion in 2018 and will exhibit a CAGR of 8.1% during the forecast period. The global autonomous emergency braking (AEB) market is likely to gain momentum from the growing emphasis by the governments across the world on the manufacturers to install advanced braking system in every type of vehicle.
The governments of several countries are gradually implementing new strategies to lower the increasing number of road accidents. They are hence, applying strict norms and regulations on all the automotive manufacturers to refine the safety features of the vehicles.
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Increasing Need to Improve Vehicle Safety Features Would Drive Growth
The Indian government, for instance, is trying to make it compulsory for all the passenger and commercial vehicles to be equipped with AEB system. Often, accidents occur because of the driver’s negligence or distractions. Also, the key companies are investing huge sums in research and development activities to integrate AEB systems in vehicles with advanced driver-assistance systems (ADAS).
Based on component type, the market is bifurcated into drum and disc. Out of these, the drum segment procured 33% AEB market share in 2018. This segment would grow steadily owing to the low cost and maintenance of vehicles equipped with this type of brake. The disc segment is set to lead in the coming years because of the higher adoption of commercial and passenger cars worldwide. These brakes are also lightweight and hence, aid in reducing the overall weight of the vehicles. Hence, their demand is more as compared to the drum brakes.
In terms of region, the market is categorized into Asia Pacific, Europe, North America, and the rest of the world. Amongst these, Asia Pacific is expected to generate the maximum autonomous emergency braking market revenue and dominate during the forthcoming period. This growth is attributable to the mandatory installation of this braking system in countries, namely, China, India, and Japan.
Also, raw materials are available in this region at very low cost. It would also contribute to the market growth. Europe, on the other hand, is projected to remain in the second position backed by the implementation of strict government rules and laws regarding the installation of safety equipment in all types of vehicles.
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High Adoption of Electric Vehicles to Stimulate Growth in Asia Pacific
The market houses numerous small, medium, and big enterprises that are working towards fulfilling the urgent demand from their large consumer bases. They are conducting many research and development activities to unveil state-of-the-art products and gain more sales.
Key Companies Introduce New AEB Systems to Boost Sales
Valeo introduced its brand new innovations that would transform digital mobility, powertrain electrification, and autonomous vehicles at CES 2019 in Las Vegas. The company’s two unique products, namely, Valeo Voyage XR and Valeo Drive4U® Remote would aid in stimulating the virtual presence of an individual, as well as in operating autonomous vehicles remotely, respectively.
Netradyne launched its ADAS solution specially created for Indian road conditions. It is a part of its Driveri™ platform. It is a vision-based system equipped with 4 cameras on the windscreen to enable fleet managers in detecting positive driver performance and improving safety in commercial vehicles.
- Robert Bosch GmbH
- Delphi Automotive LLP
- Continental AG
- ZF Friedrichafen AG
- Hyundai Mobis
- Aisin Seiki Co. Ltd
- Hitachi Automotive System Ltd
- Mando Corporation
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Global Autonomous Emergency Braking Market Segmentation:
By Brake Type:
By Technology Type:
- Crash Imminent Braking
- Dynamic Braking Support
By Vehicle Type:
- Passenger Cars
- Commercial Vehicles
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
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