Future Market Insights
An automotive must fulfill its basic functionality of transporting man and material from one place to another. But in today’s era, besides adhering to basic functionality automotive have the responsibility of ensuring safety of the occupant at the time of an emergency, where human response is unable to avoid the crash. This has caused a significant revolution in the automotive safety system market through the introduction of advanced technologies, such as ADAS (advanced driver assist systems). The automatic emergency braking system utilizes electronic stability control (ESC) and ADAS to slow the vehicle and potentially reduce the severity of an impact when a crash is unavoidable. Thus, the automatic emergency braking system acts as a helpful feature in high speed situations. The automatic emergency braking system is usually coupled with a forward collision warning system. The former incorporates camera based or radar based sensors that detect the distance of the vehicle from the one ahead. Warning signals are provided in the possibility of a crash, so that the driver can take corrective action, if no action is received from the driver, brakes are applied automatically to decelerate the vehicle. The automatic emergency braking system doesn’t claim to completely mitigate the collision, but reduces the intensity of collision. Presently, when mapped on the product life cycle stage, the automatic emergency braking system market is still between the introduction and growth phase; thus, noteworthy growth is expected in the market over the forecast period. Commercially, the automatic driver system is also known as the pre-crash braking system, intelligent braking system and forward collision mitigation system. Various national and international regulating organizations support the automatic emergency braking system as they find it a potential means of reducing severe rear-end collisions and thus helpful in saving lives.
Global Automatic Emergency Braking System Market: Dynamics
The automatic emergency braking system market for automotive is foreseen to remain lucrative over the span of next ten years, as regulatory bodies and automotive OEMs across the globe are striving to equip vehicles with novel technologies to increase safety of occupants as well as others on road. As per key opinion leaders in the market, the automatic emergency braking system will soon be a standard feature in many upcoming cars. Furthermore, driverless cars, which are anticipated to be commercialized in the near future will also need to deploy such a feature to avoid rear end crashes. From a macro-economic perspective, robustly growing automotive production and sales, supplemented with changing consumer preference towards advanced safety features is expected to significantly boost growth of the automatic emergency braking system market. On the other hand, there has been a debate in the market regarding the extent of safety provided by automatic emergency braking systems. Is sudden braking without human intervention capable of avoiding collisions? Or, in turn, will it create a chaotic situation? Moreover, the lack of incentive for road management bodies and automakers hampers the deployment of automatic emergency braking systems.
Global Automatic Emergency Braking System Market: Segmentation
By product type, the automatic emergency braking system market for automotive can be segmented into:
By application type, the automatic emergency braking system market can be segmented into:
By vehicle type, the automatic emergency braking system market can be segmented into:
Global Automatic Emergency Braking System Market: Region-wise Outlook
North America is expected to be a major market for automatic emergency braking systems, with the U.S. holding dominant demand. Certain OEMs in the U.S. have announced their plans to deploy automotive emergency braking systems as a standard feature in their upcoming passenger vehicles. Thus, the market in these regions holds significant growth opportunity. With a number of giant automakers and technology providers based in the region, Europe is anticipated to be a momentous market. However, slow adoption rate may be witnessed in some European countries, except the EU. With high vehicle sales, Asia Pacific is expected to emerge as a significant market for the automatic emergency braking system over the forecast period. Japan is anticipated to witness high adoption rate for automatic emergency braking systems, particularly in commercial vehicles.
Global Automatic Emergency Braking System Market: Market Participants
Examples of some of the market participants in the global automatic emergency braking system market are:
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