An increasing number of vehicles are being fitted with the new safety feature known as autonomous emergency braking system (AEBS), which engages the brakes automatically should the driver be unable to respond to an emergency. It keeps an eye on the traffic situation up ahead to accomplish this. It uses on-board sensors, cameras, and radars to detect vehicles, people, and other obstacles. Similar to seatbelts, experts consider the advanced evolution of airbags (AEB) to be a significant advancement. However, unlike seatbelts, AEB is intended to completely prevent crashes. An example of an automated emergency braking system in action is an advanced driver assistance system (ADAS).
According to SPER market research, ‘Autonomous Emergency Braking System Market Size- By System, By Vehicle Type, By Technology- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Autonomous Emergency Braking System Market is predicted to reach 142.9 billion by 2033 with a CAGR of 15.09%.
The increase in accidents is anticipated to propel the market for automated emergency braking to greater heights throughout the course of the projected period. Autonomous emergency braking helps identify potential accidents and responds by automatically applying the brakes to slow down the vehicle and bring it to a stop in order to avoid collisions. Increased sales of passenger cars will also significantly contribute to the market’s growth. Furthermore, as accident avoidance technology is used more often, the market for autonomous emergency braking is growing. Nowadays, several large automakers equip their luxury and medium models with crash prevention technologies. As a result, the market is expanding as more and more car types are using automated emergency braking.
The integration of AEB systems with other safety systems, sophisticated algorithms, and enhanced sensor technologies may result in increased vehicle production costs. The higher price tag of modern braking systems may turn off some customers, particularly in nations where consumers are price conscious. This can impede the market’s expansion and the uptake of these solutions. The additional costs associated with installing emergency braking systems may result in an increase in the overall cost of the cars. This could affect how affordable something is for certain people, particularly in economies where prices are crucial. Increased upfront costs would deter some buyers from selecting vehicles equipped with state-of-the-art braking systems, which would restrict market growth.
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The epidemic caused significant disruptions to the automotive sector, including decreased consumer demand, supply chain disruptions, and manufacturing closures. This production glitch affected the installation of emergency braking systems in new cars, temporarily lowering market share. Many people delayed purchasing cars during the pandemic due to lockdowns and erratic financial circumstances. Since modern braking systems are usually installed in new cars, the drop in vehicle sales had an immediate impact on the market for these systems. The decline in automobile sales caused a slight decline in the demand for AEB.
Geographically, North America held a dominant market position in the global market for autonomous emergency braking in 2022. Significant demand has been seen in the North American market recently, and growth is anticipated. In North America, there is a growing concern for road safety, with an emphasis on lowering the frequency and severity of accidents. Automated emergency braking systems are becoming more and more popular due to growing awareness of and demand for road safety. Significant players in the market also include Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, Delphi Automotive LLP, and other well-known companies.
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Automatic Emergency Braking System Market Outlook
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