Automatic Emergency Braking (AEB) Market Size By Vehicle Type (Commercial Vehicles, Passenger Vehicles), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, China, Japan, South Korea, Brazil, Mexico), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024
Published Date: February 2017 | 90 Pages | Report ID: GMI1171 Report Format: PDF
(AEB) Automatic Emergency Braking Market size was valued at over USD 1 billion in 2015 and will grow at 29.3% CAGR from 2016 to 2024.
U.S. Automatic Emergency Braking Market size, by vehicle type, 2014-2024 (USD Million)
Increasing consumer awareness regarding passenger & pedestrian safety coupled with government mandates to install safety related technologies in the vehicle are primary factors driving the automatic emergency braking market size.
The focus of the OEMs was to protect the driver and passengers inside the vehicle and therefore the technologies evolved were in conjunction with this trend. For instance, seat belts and anti-lock braking systems were provided to protect the driver and the vehicle. OEMs develop the vehicle structures or designs to accommodate the components required for AEB. Although the adoption rate in vehicles was low in 2016, most of the automakers have started integrating basic AEB system as a standard and optional feature into some of the models of their portfolio.
Automatic emergency braking system was introduced in high-end luxury cars as an extra safety feature. Due to high initials costs involved in R&D for developing these systems, manufacturers focus on installing these technologies only in high-end vehicles to offset the development costs. The OEMs and technology providers continuously invest in R&D to maximize the efficiency of the system. Adding the system creates hardware infrastructure that can be improved with future software advancement to provide more safety to the vehicle, which will drive the automatic emergency braking market.
Lack of penetration in developing countries is restricting the automatic emergency braking market growth despite of high willingness to buy the AEB enabled vehicles. High costs and unreliable performance of these technologies in some countries are hindering industry growth. The system cannot be installed aftermarket and thus cannot be made available to aftermarket suppliers. Some OEMs also prefer in-house testing and manufacturing of components and are implementing backward integration to improve industry presence.
Automatic Emergency Braking Market, By Vehicle
The OEMs have started to provide AEB technology as a standard in interest of active and passive safety. Rising luxury vehicle sales and new vehicle segments such as crossovers or mini SUV across the globe has demanded reliable AEB safety technology. City AEB systems are preferred mostly for passenger vehicles to reduce the tailgating impacts by reducing the insurance and repair costs.
High consumer willingness to adopt new vehicles having technologically advanced safety features and driver assistance will support the automatic emergency braking market demand. The technology has gained high industry attractiveness, particularly in passenger vehicles. The purchase decision of automobile is changing owing to these features. Thus, automakers are providing value added technologies along with AEB under driver assistance features to gain consumer interest.
Automatic Emergency Braking Market, By Region
The regulatory authorities concerning vehicle and passenger safety have made major amendments for the installation of AEB systems over the forecast timeline. The high acceptance rate in developed countries have encouraged automatic emergency braking market application in autonomous vehicles. For instance, In March 2016, the Insurance Institute for Highway Safety (IIHS) and the U.S. National Highway Traffic Safety Administration announced a commitment made by 20 automakers which represent more than 99% of the U.S. auto market to make AEB as a standard feature on all new cars by 2022. This commitment will make this technology available to consumers more quickly than it could be achieved through formal regulatory process. As estimated by NHTSA, the commitment will prevent about 28,000 crashes and 12,000 injuries from 2019-2022.
EMEA is expected to dominate the automatic emergency braking market owing to early adoption, particularly in Germany and the UK. The companies are adopting the technology to meet the international specifications and legislations drafted by various car assessment agencies. Moreover, presence of multinational automobile companies focusing more on developing safety measures for active safety of people along with regulation support from the government will drive the automatic emergency braking market size.
Competitive Market Share
The automatic emergency braking market share is consolidated with few companies acquiring more than 50% of the global industry. The original equipment manufacturing companies are implementing extensive R&D for developing advanced and cost effective AEB technologies. Manufacturers often prefer to design and test the system instead of outsourcing to the suppliers, thus increasing the competition to deliver more technologically advanced cameras, lasers and sensors. Established automobile players adopt partnerships and joint venture strategies to gain control over the automatic emergency braking market.
Some of the fastest growing technologies include emergency call system, accident data recorder system and alcohol ignition interlocks. For instance, Honda is using the combination of monocular camera and millimetre-wave radar named as Honda Sensing. These two types of sensors were intended to operate independently for different purposes. The combination of these sensors to obtain information has led to more technical innovations in the AEB market for future vehicles.
Automatic Emergency Braking Industry Background
Automatic emergency braking system detects an imminent forward crash with another vehicle and to avoid or mitigate the collision. It works with a combination of FCW (forward collision warning) and LDW (lane departure warning) technologies and have control over brakes through ECU. Variety of radar, lid1ar, sensors, or cameras are combined to monitor vehicles moving forward. If case of an imminent crash, an audible and visual warning is displayed on dashboard. If the driver fails to react, the vehicle automatically engages the brakes and avoids the collision.
The AEB market ecosystem includes radar, camera and/or LiDAR based technology to identify potential collisions. The vehicle determines the distance to an object and the car’s speed once the object is detected. As the car approaches the object, it informs driver of potential collision with beep/sound and dash flashes, and pre-charges the brake system. It uses radar and camera combinations to detect pedestrian, animal and even cyclist by shape recognition.
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