Albany, New York, Dec. 05, 2018 (GLOBE NEWSWIRE) -- The global automatic or autonomous emergency braking market is highly consolidated in nature with few players holding the majority of the share in the overall market. According to Transparency Market Research, top four players in the market holds a whooping of 70% of the overall market in the recent past. The market does not entertain monopoly of any key players. However, rapid advancement in technology and extensive research and development activities by players in the market is expected to intensify the competition. Players are opting for strategic partnership such as merger and acquisitions in order widen their customer base. Product innovation is something the players are focusing on, this is likely to formulate the brand and attract huge crowd. Some of the major players in the market are Volvo, BMW, Nissan, Opel, General Motors, Audi, and Volkswagen.
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Transparency Market Research in a study observes, that the global automatic or autonomous emergency braking market is likely to grow at a robust CAGR of 5.3% during the forecast period 2017 – 2025. The market which was valued at US$10510 mn in 2016 is likely to be worth at US$16730 mn by the end of the assessed period. On the basis of technology, the global automatic or autonomous emergency market is segregated into crash imminent braking, dynamic brake support, and forward collision warning. Amongst these forward collision warning segment holds a whooping share of 44.6% in the overall market. These segment is likely to dominate in the coming years. On the basis of geography, Europe holds the leading position, due to presence of major vendors in the market. Significant contribution from Germany is predicted to aid the region to grow.
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Increasing Rate of Road Accidents to Foster Market Growth
Stringent rules and regulation imposed by governing bodies of various countries to install autonomous emergency braking due to increase in road accidents is predicted to help the market to reach new heights. These rules are not only imposed on passenger vehicles but also on commercial vehicles. Surge in young drivers and rising demand for fast cars have ascended the number of fatalities due to road accidents. This has propelled the automotive manufacturers to install autonomous emergency braking systems, thus boosting the market growth. However, it has been noticed that exorbitant costs of vehicles with automatic emergency braking system. This is dissuading middle class family from buying such vehicles. This is expected to deter the market growth. Nonetheless, rapid progress in the automotive industry is likely to slacken the cost of the braking system in future, which will favor the market growth. Apart from this, there is no or minimal aftermarket for automatic braking system, thus stopping consumers to spend any further on the systems.
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Rise in Luxury and Passenger Vehicles Favors Market Growth
Significant rise in the automotive industry is one of the major reasons supporting the growth of the market. High demand for passenger vehicles in recent times is prognosticated to boosts the market. Various initiatives undertaken by government to increase awareness regarding the global warming effect caused by emission of carbon, is compelling individual to opt for passenger vehicles. Surge in traffic due to rise in vehicles and lack of parking facilities is driving consumer to use passenger vehicles for day-to-day commute. Advent of app based cabs is favoring the growth of the passenger vehicles. Increase in luxury vehicles across the world is prognosticated to aid the market grow.
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This analysis of the global automatic emergency braking market is based on a recent market research report published by Transparency Market Research, titled “Automatic or Autonomous Emergency Braking (AEB) Market (Technology - Forward Collision Warning, Dynamic Brake Support, and Crash Imminent Braking; Vehicle Type - Passenger Vehicles, and Commercial Vehicles) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025.”
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For the study, the Automatic or Autonomous Emergency Braking Market has been segmented as follows:
Global Automatic or Autonomous Emergency Braking Market by Technology
- Forward Collision Warning
- Dynamic Brake Support
- Crash Imminent Braking
Global Automatic or Autonomous Emergency Braking Market by Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
Global Automatic or Autonomous Emergency Braking Market by Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- Iran
- South Africa
- Rest of MEA
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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