Seattle, WA -- (SBWIRE) -- 02/14/2020 -- As per National Highway Traffic Safety Administration (NHTSA), in 2015, in the U.S. over 129,000 pedestrians were involved in crash-related injuries. Countries are taking initiatives to increase awareness regarding crash car safety thereby driving the automatic emergency braking market revenue. For instance, in 2018, Institute of Road Traffic Education launched 'Stop the Crash' campaign to showcase benefits of advanced vehicle systems such as electronic stability control and autonomous emergency braking.
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Rising passenger car sales will contribute significantly towards industry expansion over the forecast period. Major automobile manufacturers are equipping crash avoidance technology in medium and luxury car segments. For instance, in 2017, Toyota equipped AEB system in over 50% of its vehicle fleet. Moreover, electric & hybrid car manufacturers including Tesla are providing crash avoidance technology as standard in majority of vehicles, thereby influencing the market share from 2018 to 2024.
Proliferating autonomous vehicles demand coupled with growing concerns for driver and passenger safety will boost the automatic emergency braking (AEB) industry size. Vehicle owners are transitioning toward advanced features such as adaptive cruise control, lane departure warning, forward collision warning with automatic emergency braking, and blind spot detection system.
Key industry participants include automobile manufacturers such as Audi, Bayerische Motoren Werke AG (BMW), Honda Motor Co., Ltd., Daimler AG (Mercedes-Benz), AB Volvo, and TESLA MOTORS, INC.
Regional Outlook:
Based on the region, the global Automatic Emergency Braking (AEB) market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America dominated the global web hosting market in 2018 with the largest share followed by Europe and the Asia Pacific. High penetration of internet and the presence of well-established infrastructure are factors responsible for the high share of North America in Automatic Emergency Braking (AEB) market.
The Asia Pacific with growing industrialization and increased emergence of small and medium enterprises in countries such as India, China, and Japan has led to increasing demand for Automatic Emergency Braking (AEB) leading to higher growth of the market as compared to other regions.
Growing awareness among consumers, extensive R&D by market players and updated ratings of safety agencies have fueled market growth. Major automobile manufacturers have by now started to integrate basic AEB systems as optional and standard choices into their mass-market automobile models. For instance, Toyota launched its technologies that incorporate auto-adjust headlamp, auto-parking, pre-crash braking packages, and vehicle communication system to be unified into its 2015 models. Insurance companies have also taken a significant interest in commercialization of AEB systems in order to reduce the liability claims due to road accidents.
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