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Autonomous emergency braking system market to reach $33.9 billion, globally by 2023 according to new research report

Automotive and Transportation Market Research

Autonomous emergency 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. 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.

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High adoption rate of advanced braking system and rise in number of road accidents drive the global autonomous emergency braking system market. However, high cost of AEBS technology restricts autonomous emergency 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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