Autonomous Emergency Braking System Size Booming More Than 4X to Reach USD 22.5 Billion by 2029 | BlueWeave Consulting

New Delhi, May 09, 2023 (GLOBE NEWSWIRE) -- Global autonomous emergency braking (AEB) system market is flourishing due to high adoption of electric and hybrid vehicles, a surging demand for advanced driver assistance systems (ADAS) in vehicles, and increasing awareness about the benefits of AEB systems in reducing accidents and fatalities on the roads.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global autonomous emergency braking system (AEBS) market size at USD 5.03 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global autonomous emergency braking system (AEBS) market size to grow at a robust CAGR of 24.06% reaching a value of USD 22.48 billion by 2029. Major growth drivers for the global autonomous emergency braking system (AEBS) market include an increasing demand for advanced safety features in vehicles, high disposable income, and growing sales of passenger and commercial vehicles. AEBS is an advanced safety feature that uses sensors and cameras to detect potential collisions and automatically applies the brakes to prevent or mitigate the impact. The market is further driven by rising concerns over road safety and government regulations mandating the use of advanced safety features in vehicles. The increasing adoption of electric and hybrid vehicles is also expected to drive the market growth, as these vehicles require advanced safety features to manage the unique characteristics of electric powertrains.

Global Autonomous Emergency Braking System Market – Overview

Autonomous emergency braking system (AEBS) is an advanced safety feature that helps prevent or reduce the severity of collisions by automatically applying the brakes if the vehicle detects an imminent collision with an object, pedestrian, or another vehicle. AEBS uses sensors, such as cameras, radars, or lidars, to detect potential collisions and can work in various driving conditions, including low light, rain, and fog. The system can either provide an audible warning to the driver or activate the brakes automatically to avoid or mitigate a collision. AEBS is a part of advanced driver assistance systems (ADAS) and is increasingly becoming a standard feature in modern vehicles to improve road safety.

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Impact of COVID-19 on Global Autonomous Emergency Braking System Market

COVID-19 pandemic had a detrimental impact on the global autonomous emergency braking system (AEBS) market. Due to the pandemic, there had been a decrease in the volume of vehicle production, which affected the demand for AEB systems. Government-mandated shutdowns and factory closures by businesses nearly halted production, leading to a decline in the market for AEB systems. Also, the pandemic led to a decrease in consumer spending and a decline in overall economic activity. It resulted in a reduced number of vehicles being purchased, leading to a decline in the demand for AEB systems. However, despite the pandemic's adverse effects on the automotive industry, the market for AEB systems is still projected to grow during the forecast period. With the increasing production of autonomous cars, there is a rising demand for AEB systems in these vehicles. Hence, the market for AEB systems is expected to rebound after the pandemic and continue to grow rapidly in the coming years.

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Global Autonomous Emergency Braking System Market – By Vehicle Type

Based on vehicle type, the global autonomous emergency braking system market is divided into Passenger Vehicles and Commercial Vehicles segments. The passenger vehicles segment held a higher share in the global autonomous emergency braking system market due to the increasing number of passenger vehicles sold globally. It has led to a higher demand for safety features, including AEBS. Governments across countries have mandated the installation of AEBS in passenger vehicles, further driving the market growth. Also, the rising disposable income of consumers and changing preferences towards fully loaded safety features in cars have also contributed to the increasing demand for autonomous emergency braking systems.

Competitive Landscape

Major players operating in global autonomous emergency braking system market include ZF Friedrichshafen AG, Continental AG, Robert Bosch GmbH, Denso Corporation, Aptiv PLC, Autoliv Inc., Valeo S.A., WABCO Holdings Inc., Hitachi Automotive Systems Ltd., Hyundai Mobis Co., Ltd., Magna International Inc., Panasonic Corporation, Mobileye N.V. (Intel Corporation), Infineon Technologies AG, and HELLA GmbH & Co. KGaA. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Global Autonomous Emergency Braking System Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Autonomous Emergency Braking System Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Recent Developments

• In May 2022 - Jeep Meridian released the India Bound Jeep Meridian SUV in India in the middle of 2022. The SUV includes upgraded adaptive cruise control, an advanced autonomous emergency braking system, a blind-spot monitoring and assistance system, and a forward collision warning.

Scope of the Report

By Brake Type

• Disc
• Drum

By Technology

• Crash Imminent Braking
• Dynamic Brake Support
• Forward Collision Warning

By Vehicle Type

• Passenger Vehicles
• Commercial Vehicles

By Region

• North America
• Europe
• Asia Pacific (APAC)
• Latin America
• Middle East and Africa (MEA)

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