“Automotive Brake System Market: Global Demand Analysis & Opportunity Outlook 2024”

The global automobile automatic braking system market is segmented into product type such as low speed automatic braking system, high speed automatic braking system and pedestrians automatic braking system. Among these segments, low speed automatic braking system segment is expected to experience significant growth over the forecast period. The demand for low speed automatic braking system is fuelled by increasing need to avoid crash in city environments such as queuing traffic, at intersections or in crossroads. Further, increasing safety concerns amongst consumers is a key factor which is expected to increase the demand for automatic braking system in upcoming years.

Global Automatic Braking System Market is expected to thrive at a 7.02% CAGR over the forecast period. Moreover, the global automobile automatic braking system market is projected to reach at USD 37.68 Billion by the end of 2024. Rising occurrence of road accidents is a key reason which is sparking the need to make automatic braking system necessary in vehicles. Further, abilities of automatic braking system to save lives and to prevent vehicle crashes are anticipated to bolster the growth of market across all regions.

The passenger car by vehicle class is likely to grow at remarkable pace during the forecast period. The number of passenger cars on road is aggressively increasing. Further, increasing sales of passenger cars and rapid incidence of road accidents are likely to escalate the growth of this segment in upcoming years. Furthermore, automatic braking system also help to avoid severity of rear-end crashes in certain situations.

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Government Support and Initiatives

Government in both developing and developed economies are looking forward to make automatic braking system a standard feature in every vehicle to save maximum number of lives. For instance, The U.S. National Highway Traffic Safety Administration (NHTSA) signed an agreement with major automakers to add the automatic braking technology in every new manufactured vehicle by the end of 2022. Further, such initiatives are likely to bolster the growth of automobile automatic braking system market across the globe.

Rising Safety Concerns

The safety concerns amongst consumers are increasing which in turn escalating the demand for every possible safety features to be installed in vehicles. Further, rising safety concerns amongst the consumers is likely to bolster the growth of global market in near future. However, additional cost associated with installation of automatic braking system and lack of stringent government regulations is likely to inhibit the growth of the automobile automatic braking system market in the near future.

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The report titled “Automobile Automatic Braking System Market : Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global automobile automatic braking system market in terms of market segmentation by product type, by type, by vehicle class and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

This report also provides the existing competitive scenario of some of the key players of the global automobile automatic braking system market which includes company profiling of Some of the automakers engaged in development of automobile automatic braking system: Toyota Motor Corp., General Motors Co, Ford Motor Co., Fiat Chrysler Automobiles NV, Honda Motor Co, Volkswagen AG, Nissan, Audi, Jaguar Land Rover and Lexus. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automobile automatic braking system market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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