The latest market report published by Credence Research, Inc., “Global Automotive Electronic Braking System Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Automotive Electronic Braking System Market generated revenue of around USD 729.6 million in 2021 and is anticipated to grow a CAGR of over 5.5% during the forecast period from 2022 to 2028 to reach around USD 1006.1 million in 2028.
Increasing demand for sophisticated safety systems in cars, more government regulations governing occupant protection, increased environmental concerns about CO2 emissions reduction, and technological innovation. In contrast to the developing economies, such as China and India, where EBS penetration is still relatively low but growing rapidly, it is highly high in established economies, such as North America, Europe, and Japan.
The global automotive electronic braking system market is bifurcated into Product Type, Sales Channel, Vehicle Type, and Geography. Based on product type, the market is categorized into electronic stability control, adaptive cruise control, anti-lock braking system, differential slip control and traction control system. Based on sales channels, the global market is segmented into OEM and aftermarket. The market is categorized into passenger and commercial vehicles based on vehicle type. The market is segmented based on geography: North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
Asia-Pacific is predicted to remain the largest market for electronic braking systems during the projection period. The Asia-Pacific region is growing due to rising auto manufacturing and EBS usage in China and India. This region is also anticipated to expand the fastest over the next five years. Due to increased auto production and a consistent move from the ABS to the ESC system, North America’s automotive EBS market is predicted to grow at the second-fastest rate.
There are many challenges facing the automotive electronic braking system (EBS) industry. One of the most significant is the lack of compatibility between different EBS systems. This can lead to unpredictable and unsafe braking behavior. Another challenge is the lack of standardization across different automakers and suppliers, which can make it difficult to integrate new EBS technologies into existing vehicles. Finally, there is a need for more reliable and accurate sensors in order to provide accurate feedback to the driver.
Why Buy This Report-
- The report provides a qualitative and quantitative analysis of the global automotive electronic braking system market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, base year- 2021, and forecast period 2022-2028.
- The report contains information related to the competitive landscape, like how the key players in the market are operating at a global, regional, and country level.
- In-depth analysis of the global automotive electronic braking system market segmentation based on product type, vehicle type, and sales channel.
- Major countries in each region with their import/export statistics
- The global automotive electronic braking system market report also includes analyzing the global, regional, and country levels, key market trends, significant players analysis, market growth strategies, and key application areas.