New research is predicting that the global market for Automatic Emergency Braking will be worth US$20 billion (£15 billion) by 2024.
Global Market Insights says increasing awareness regarding vehicle occupant and non-occupant safety will boost the market size, with Forward Collision Warning, which is already worth $5 billion, expected to maintain its dominance over the forecast timeframe.
The report points to ongoing introduction of the technology, such as Mitsubishi’s introduction of a collision mitigation system in their sports utility vehicle line-up to minimise the probability of accidents. It adds that dynamic braking systems will steadily grow with rising prominence of electric drive systems.
“Proliferating automobile production and sales along with increasing consumer awareness regarding pedestrian and passenger safety are driving the automatic emergency braking (AEB) market size over the study timeframe,” the authors say. “Availability of multiple budget vehicle models offering automatic emergency braking technologies at lower cost is further supporting the business growth. For instance, Suzuki Japan offers a wide range of budget vehicles with automatic emergency braking technologies.”