Selbyville, Delaware, Jan. 03, 2019 (GLOBE NEWSWIRE) --

The autonomous emergency braking market is predicted to grow from USD 6.5 billion in 2017 to USD 20 billion by 2024, according to a latest Global Market Insights, Inc. report. Increasing awareness regarding vehicle occupant and non-occupant safety will boost the market size. Over speeding, and distracted driving owing to usage of mobile phones and unsafe road infrastructure are contributing towards road accidents.

Forward collision warning accounted for around USD 5 billion in 2017 and is expected to maintain its dominance over the forecast timeframe. This can be credited to increasing system installation in passenger cars for enhancing passenger safety.

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Proliferating automobile production and sales along with increasing consumer awareness regarding pedestrian and passenger safety are driving the autonomous emergency braking (AEB) market size over the study timeframe. Availability of multiple budget vehicle models offering autonomous emergency braking technologies at lower cost is further supporting the business growth.

Proliferation of autonomous driving technologies along with increasing stringent regulations for meeting the New Car Assessment Programs (NCAP) standards are enabling automobile manufacturers to invest in technologies for efficient implementation of the AEB systems. However, higher costs associated along with technical complexities and lack of proper infrastructure may hamper the market size. Thus, industry players are standardizing the technologies across budget models for meeting the economies of scale and further bringing down costs, thereby positively influencing the autonomous emergency braking market share.

Stringent government regulations across the globe mandating multiple safety features across passenger vehicles including autonomous emergency braking systems, seatbelts, airbags, ABS, electronic stability control systems, and parking sensors are supporting the revenue generation till 2024.

Browse key industry insights spread across 265 pages with 387 market data tables & 15 figures & charts from the report, “Automatic Emergency Braking Market Size By Brake (Disc, Drum), By Vehicle (ICE [Passenger Cars, LCV, HCV], Electric & Hybrid Vehicle), By Technology (Crash Imminent Braking, Dynamic Brake Support, Forward Collision Warning), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, South Korea, Thailand, Indonesia, Mexico, Brazil, Argentina, Turkey, Iran, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:

Drum brakes accounted for a significant market share in the autonomous emergency braking (AEB) market place owing to the lower maintenance cost compared to disc brakes. Proliferating small and medium car sales in emerging nations will improve the industry growth. Moreover, higher adoption in heavy commercial vehicles due to large wheel diameter will further escalate the revenue generation.

Electric & hybrid vehicles will register over 20% CAGR owing to rising concerns over vehicle pollution and greenhouse gas emissions. The U.S., Canada, and Germany are adopting low carbon initiatives for adhering to international treaties including Paris Summit. Federal government in the U.S. have enacted policies to promote EVs.

Europe autonomous emergency braking market will hold around 50% volume share by 2024. This can be attributed to the presence of major industry players including BMW, Volkswagen, and Mercedes Benz developing innovative AEB solutions for their vehicle portfolio. Organizations including Euro NCAP are promoting development of AEB systems to safeguard occupants and non-occupants. The organization is continuously broadening the scope to enhance product efficiency thereby positively influencing the industry size. Latin America and Middle East & Africa will showcase steady growth owing to increasing luxury vehicles demand.

The autonomous emergency braking market players include Autoliv, Continental, Delphi, Magna, Siemens, and Bosch. Industry players are engaged in long-term partnerships and alliances with automobile OEMs for efficient incorporation of the technology into their vehicles.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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