The Automatic Emergency Braking Systems Market Is Expected To Reach USD 67.67 Billion By 2023
WILMINGTON, DELAWARE, USA, September 5, 2023 /EINPresswire.com/ – According to a recent report by Allied Market Research, titled “Autonomous Emergency Control by Product Type, Technology, and Vehicle Type.” Powertrain Market: Global Opportunity Analysis and Industry” Forecast 2017-2023, the global automatic emergency braking system market was valued at USD 43.7 billion in 2016 and is expected to reach USD 67.67 billion by 2023, with a CAGR of 2017-2023 was 6.7%.
High adoption rate of advanced braking systems and increasing number of road accidents drive the global automatic emergency braking system market. However, the high cost of AEBS technology restrains the growth of the automatic emergency braking system market. Furthermore, rising passenger car registrations and rising demand for luxury vehicles present lucrative opportunities for the market.
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Europe currently dominates the market, followed by North America. In 2016, Japan dominated the Asia-Pacific market; likewise, Germany led the overall market in the European region. Currently, the US dominates the North American market.
In 2016, the high-speed AEBS segment dominated the global Automatic Emergency Braking System (AEBS) software tools segment in terms of revenue. However, from a technology perspective, dynamic brake assist leads the global market, followed by crash emergency braking in 2016. By end use in 2016, commercial vehicles lead the AEBS market. However, passenger vehicles are expected to register the highest CAGR throughout the forecast period.
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– In 2016, the product type high-speed AEBS generated the highest revenue in the global AEBS market.
– Dynamic brake support technology generated the highest revenue in the AEBS market in 2016.
– LAMEA is projected to exhibit the highest CAGR during the forecast period.
– The commercial vehicle segment contributed the highest market share in the AEBS market in 2016.
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Key players profiled in the report include Robert Bosch GmbH, Continental AG, Delphi Automotive AG, ZF AG, Mobileye, Autoliv Corporation, Hyundai Mobis, Aisin Seiki Co., Ltd., Hitachi Automotive Systems Co., Ltd. and Mando Corporation
David Correa
Allied Analytics LLP
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