Over the forecast period of 2022-2032, the automatic emergency braking market is expected to grow at a CAGR of 8.0%, exceeding US$ 63,591.7 Mn by 2032.
Growing passenger vehicle fleet in East Asia will fuel significant growth in the reginal automatic emergency braking market. This is expected to rise at a CAGR of 10.2% over the projected period.
By 2022, the region is expected to produce 33 million passenger vehicles, accounting for more than half of all passenger vehicle production worldwide. The market for automatic emergency braking is expected to witness traction, thanks to increased use in single and multi-directional braking.
Market demand is driven by factors such as strict government regulation on car safety, growing safety concerns among drivers, and higher expenditure on modern automotive functionalities like ADAS with an increase in disposable income.
Government bodies are increasing their initiatives and investments in response to growing number of traffic accidents around the world. Since pedestrians, motorcyclists, and cyclists account for about half of those killed on the road, automatic emergency braking systems are viewed as a key ADAS (advance driver assistance system) technology that should be widely implemented around the world.
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Key Takeaways
- By technology type, the radar sensor sales are expected to grow at a CAGR of 8% in the global market.
- By vehicle type, the passenger vehicle segment will dominate the market with more than 71% of the market share.
- By sales channel, the OEM segment will lead the automatic emergency braking market and is anticipated to create an absolute dollar opportunity worth US$ 33.5 Bn
- In terms of region, South Asia and Pacific are predicted to exhibit a CAGR of 1% over the forecast period.
“Increasing road safety awareness coupled with a growing autonomous vehicle fleet will create lucrative opportunities for the market in the forecast period.” says a Future Market Insights analyst.
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Automatic Emergency Braking Market Competitive Landscape
Among the industry’s key players are Continental AG, ZF Friedrichshafen AG, Mobileye, Aptiv Plc, Veoneer Inc., Valeo SA, Magna International, Aisin Seiki Co., Ltd and others
Manufacturers are strategically collaborating with technology partners for long suplly relation and to intrigate a central control unit for different ADAS technologies.
About FMI – Automotive and Transportation
The Automotive and Transportation division of FMI provides exclusive coverage and actionable insights about automotive and transportation industry encompassing automotive, aviation, shipping and marine, and railway sector. Market findings and competition intelligence of OEM, aftermarket, services and technology landscape have helped numerous industry stakeholders’ right from automakers, component manufacturers, channel partners and service providers in taking informed decisions and keeping them up-to-date with market behavior.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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