A system known as automatic emergency braking helps lessen the severity of an accident by automatically applying the brakes in an emergency. The road vehicle safety system is equipped with sensors that keep an eye on the automobiles ahead of them and identify circumstances in which the vehicle's relative speed and distance from the obstacle indicate a high probability of accident. An effective active safety feature for preventing rear-end and pedestrian collisions is automatic emergency braking (AEB). This advanced assistance technology recognizes objects in front of the vehicle using video and applies the brakes automatically in response to potential collisions.
Global Autonomous Emergency Braking System Market Driving Factors and Challenges
The market for autonomous emergency braking is expected to rise at a faster rate throughout the forecast period due to an increase in accidents. When a prospective accident is detected, autonomous emergency braking assists in identifying it and reacts by automatically applying the brakes to slow down the vehicle before bringing it to a halt to prevent a collision. Furthermore, increased passenger car sales will help greatly towards the expansion of the market. Furthermore, the market for autonomous emergency braking is expanding due to the increasing use of accident avoidance technology. Large automakers now offer crash prevention technology in their luxury and midsize models. Therefore, the market is growing as a result of the growing use of autonomous emergency braking in almost all vehicle types.
The expensive cost of installing and maintaining autonomous emergency braking technology, together with the limited purchasing power of individuals in developing nations, are some of the primary challenges that are anticipated to hinder market expansion. Furthermore, during the projection period, the market for autonomous emergency braking is expected to face significant challenges due to the lack of a suitable frequency band for running such technology. Moreover, it might be challenging to manufacture new automobiles with AEB technology or incorporate existing ones into them. Compatibility issues and the need for a perfect link with other automotive systems could slow down the adoption rate.
Impact of COVID-19 on Global Autonomous Emergency Braking System Market
Amidst the pandemic, the automotive industry faced significant obstacles like as reduced consumer demand, manufacturing closures, and disruptions in the supply chain. The installation of Autonomous Emergency Braking (AEB) systems in new cars was immediately impacted by these circumstances, which caused a brief fall in the market. Lockdown restrictions and economic uncertainty caused many buyers to put off buying cars.
Global Autonomous Emergency Braking System Market Key Players:
Aisin Seiki Co. Ltd., Hitachi Automotive System Ltd., Hyundai Mobis, Delphi Automotive LLP, Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, Mando Corporation, Netradyne, and Valeo S.A. are just a few of the major market players that are thoroughly examined in this market study along with revenue analysis, market segments, and competitive landscape data.
Global Autonomous Emergency Braking System Market Segmentation:
By System: Based on the System, Global Autonomous Emergency Braking System Market is segmented as; Low Speed AEBS, High Speed AEBS, Others.
By Vehicle Type: Based on the Vehicle Type, Global Autonomous Emergency Braking System Market is segmented as; Passenger Cars, Commercial Vehicles.
By Technology: Based on the Technology, Global Autonomous Emergency Braking System Market is segmented as; Crash Imminent Braking, Dynamic Brake Support, Forward Collision Warning.
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.