Portland, OR -- (SBWire) -- 06/20/2018 --Europe is expected to lead the global autonomous emergency braking system market throughout the forecast period, followed by North America. LAMEA is expected to grow at a highest rate during the forecast period. Furthermore, Germany dominates the AEBS market in Europe, similarly, the U.S. dominates autonomous emergency braking system market in North America, and Japan leads the AEBS market in Asia-Pacific

The Global 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, according to the latest report published by Allied Market Research.

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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.

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.

In 2016, the high-speed AEBS segment dominates the global autonomous emergency 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.

Rise in Number of Road Accidents

According to the fact sheet of "World Health Organization", road traffic injuries are the leading cause of death among people aged between 15 and 29 years & 1.25 million people die every year as a result of road accident. Also, 90% of the world's fatalities on the roads occur in low & middle economical countries, though such countries have approximately 54% of the world's vehicles. Moreover, for most of the countries road accidents cost 3% of their gross domestic product (GDP). Such factors result in increased demand of the vehicles, which are equipped with autonomous emergency braking system (AEBS) for safety & security of the vehicle, driver, and people. Furthermore, road accidents cause considerable economic losses to individuals, their families, and to nations as a whole. Such losses arise from the cost of treatment as well as lost productivity for people killed or disabled by their injuries, and for the rest of family members which in turn fuels the demand of AEBS to avoid road accidents.

Key Findings of the Autonomous Emergency 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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Key Players:

- Robert Bosch GmbH
- Continental AG
- Delphi Automotive LLP
- ZF Friedrichshafen AG
- Mobileye
- Autoliv Inc.
- Hyundai Mobis
- AISIN SEIKI Co., Ltd.
- Hitachi Automotive Systems, Ltd.
- Mando Corporation