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Autonomemergency braking system market is projected to reach $67.67 billion by 2023
WILMINGTON, DELAWARE, UNITED STATES, September 5, 2023/EINPresswire/ -- According to a recent report published by Allied Market Research, titled, AutonomEmergency Braking System Market by Product Type, Technology, and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global autonomemergency braking system market was valued at $43.7 billion in 2016, and is projected to reach at $67.67 billion by 2023, growing at a CAGR of 6.7% from 2017 to 2023.
High adoption rate of advanced braking system and rise in number of road accidents drive the global autonomemergency braking system market. However, high cost of AEBS technology restricts autonomemergency braking system market growth. Furthermore, increased passenger vehicle registrations and increased demand for luxury vehicles presents a lucrative opportunity for the market.
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Europe dominates this market presently, followed by North America. In 2016, Japan dominated the market in Asia-Pacific; similarly, Germany led the overall market in the European region. At present, the U.S. is dominating the market in North America.
In 2016, the high-speed AEBS segment dominates the global autonomemergency braking system (AEBS) in software tool segment, in terms of revenue. However, based on technology, dynamic brake assist led the global market followed, by crash imminent braking in 2016. Commercial vehicle led the AEBS market by end use in 2016. However, passenger vehicle is anticipated to depict the highest CAGR throughout the forecast period.
Key Findings of the AutonomEmergency Braking System Market:
- Product type-high-speed AEBS generated the highest revenue of the global AEBS market, in 2016.
- In 2016, the dynamic brake support technology generated the highest revenue in the AEBS market.
- LAMEA is anticipated to exhibit a highest CAGR during the forecast period.
- In 2016, the commercial vehicle segment contributed the highest market shares in the AEBS market.
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The key players profiled in the report include Robert Bosch GmbH, Continental AG, Delphi Automotive LLP, ZF Friedrichshafen AG, Mobileye, Autoliv Inc., Hyundai Mobis, AISIN SEIKI Co., Ltd., Hitachi Automotive Systems, Ltd., and Mando Corporation
David Correa
Allied Analytics LLP
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