Demand For Automotive Emergency Braking Technology Grasping High Growth in Future

According to the fact sheet of "World Health Organization", road traffic injuries are the leading cause of death among people aged between 15 and 29 years & 1.25 million people die every year as a result of the road accident. Also, 90% of the world's fatalities on the roads occur in low & middle economical countries, though such countries have approximately 54% of the world's vehicles. Moreover, for most of the countries road accidents cost 3% of their gross domestic product (GDP). Such factors result in increased demand for the vehicles, which are equipped with autonomous emergency braking system (AEBS) for safety & security of the vehicle, driver, and people.

The global autonomous emergency braking system market was valued at $43.7 billion in 2016 and is projected to reach $67.67 billion by 2023, growing at a CAGR of 6.7% from 2017 to 2023 according to a research report published by Allied Market Research.

The high adoption rate of advanced braking system and rise in the number of road accidents drive the global autonomous emergency braking system market. Furthermore, increased passenger vehicle registrations and increased demand for luxury vehicles present a lucrative opportunity for the market.

High Adoption Rate of Advanced Emergency Braking System:

Advanced emergency braking systems (AEBS) has a very high potential in case of crash avoidance & crash mitigation. basic functions of AEBS are to either avoid or at least mitigate a collision with a vehicle ahead or a stationary vehicle. This can be achieved either by warning the driver or, if applicable, by an autonomous braking of the vehicle. Systems with enhanced functions also respond to pedestrians, bicyclists, and other road users. Such advantages of AEBS are increasing its adoption rate over the globe. For instance, according to the German Automobile Club (ADAC), advanced emergency braking systems have already offered for about 85% of all passenger car models that are available in Germany. In addition, the European general safety regulation has already made AEBS mandatory for commercial vehicles (with the exemption of category N1) as well as for buses and coaches.

Europe is expected to lead the global autonomous emergency braking system market throughout the forecast period, followed by North America. LAMEA is expected to grow at the highest rate during the forecast period. Furthermore, Germany dominates the AEBS market in Europe, similarly, the U.S. dominates autonomous emergency braking system market in North America, and Japan leads the AEBS market in Asia-Pacific

Research Analyst at Allied Market Research.I have done Master of Business Administration (Mba) focused on Marketing/Marketing Management, General from Integral University, India.