LONDON--(EON: Enhanced Online News)--The global automotive adaptive emergency brake lights market is expected to grow at a CAGR of over 9% during the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global automotive adaptive emergency brake lights market for 2017-2021. The market size has been derived based on the penetration levels of adaptive emergency brake lights in the overall passenger cars market.
The global automotive adaptive emergency brake lights market is forecast to ship 50.96 million units by 2021. The potential to curb chain and rear-end collisions, aid in the betterment of road accidents scenario, and the addition of electronic content are expected to be the major factors driving the market during the forecast period.
Technavio’s research study segments the global automotive emergency brake lights market into the following regions:
EMEA: largest automotive adaptive emergency brake lights market segment
“Europe is the primary driver of the automotive advanced emergency braking system market in EMEA. The stringent vehicle safety norms laid by the European Commission and increasing demand for safety systems in Europe's automotive market are driving rapid adoption of automotive adaptive emergency brake lights in Europe. This will ensure EMEA’s continued lead in the market through the forecast period,” says Neelam Barua, one of the lead analysts at Technavio for automotive electronics research.
The oil-rich Middle East region represents the highest potential in this market in the luxury car segment. The region’s strong affinity for sophisticated design and advanced automotive technologies is expected to have a progressive impact on the adaptive emergency brake light systems market. Africa will be a small contributor to this market. The highest demand in the region will be from government initiatives pushing for safer roads.
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Americas: standardization of emergency systems driving market growth in the region
The legal requirements in the US and Canada have led to a slight alteration of the automotive adaptive emergency brake lights. Original equipment manufacturers (OEMs) like BMW, have deployed an additional set of lights to be turned on during an emergency stop, to fulfill the legal requirements while ensuring the safety of drivers. The regulation passed by the National Highway Traffic Safety Administration (NHTSA) will drive the market in the region during the forecast period, as they have summoned 20 leading automakers to make automatic braking systems (AEBs) standard by 2020.
The automotive market in North America was one of the earliest adopters of the emergency braking systems, and the adoption rate of these systems has increased steadily over the years. An estimated 40% of all vehicles sold in 2014 had adopted crash avoidance systems, clearly displaying the ease with which the region accepts new technologies. Majority of the automakers are expected to offer automatic emergency braking systems as a standard by 2022, which will offer impetus for the growth of the adaptive emergency brake light systems in the region.
APAC: fastest growing automotive adaptive emergency brake lights market segment
“There is an increasing awareness in developing countries like China and India about road safety and safety systems in automotive vehicles. This awareness is driving the rapid adoption of automotive adaptive emergency brake lights in the vehicles in the region. The region is expected to post a CAGR of almost 13% through the forecast period, the highest of all geographic segments,” says Neelam.
Until recently, the adoption of the technology was mainly seen in luxury and ultra-luxury segments of vehicles. Slowly, the consumers in the region are becoming more receptive to mid-range cars equipped with safety features such as automotive adaptive emergency lights. Most automakers in the region are focusing on providing a comfortable driving experience while not losing focus on safety, which is slowly improving the adoption of advanced driver assistance systems (ADAS) in the region. Countries like Japan and South Korea are some of the quickest adopters of these technologies in the region. Other countries that are witnessing a shifting preference towards safety is expected to drive the market through the forecast period.
The top vendors in the global automotive adaptive emergency brake lights market highlighted in the report are:
- Magneti Marelli
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