The automatic emergency braking market is estimated to develop at a CAGR of 8.0 percent between 2022 and 2032, surpassing US$ 63,591.7 Mn by 2032.
The original automatic emergency braking market will see substantial expansion in East Asia due to the growing passenger car fleet. Over the forecasted period, this is estimated to increase at a CAGR of 10.2 percent.
The region is predicted to generate 33 million passenger vehicles by 2022, accounting for more than half of all passenger vehicle production globally. Because of the rising application in single and multi-directional braking, the market for automatic emergency braking is likely to gain traction.
Factors such as tight government regulations on vehicle safety, growing driver safety concerns, and increased spending on contemporary vehicles are driving market demand.
In response to the rising incidence of traffic accidents around the world, governments are expanding their initiatives and investments. Automatic emergency braking systems are seen as a critical ADAS (advanced driver assistance system) technology that should be widely implemented around the world because pedestrians, motorcyclists, and cyclists account for over half of those killed on the road.
• In the global market, radar sensor sales are predicted to increase at a CAGR of 7.8% by technology type.
• In terms of vehicle type, the passenger vehicle category will command more than 71 percent of the market.
• The OEM segment will lead the automatic emergency braking market by sales channel, with an absolute cash opportunity of US$ 33.5 billion expected.
Continental AG, ZF Friedrichshafen AG, Mobileye, Aptiv Plc, Veoneer Inc., Valeo SA, Magna International, Aisin Seiki Co., Ltd and others.