With advancements in autonomous driving and intelligent transportation, the need for responsive, stable braking systems in low-speed vehicles (LSVs) has risen, especially in complex conditions where traditional systems fall short. Brake-by-Wire (BBW) systems, known for their efficiency, energy savings, and safety, are becoming increasingly popular. This paper provides a systematic review of BBW technology for low-speed vehicles (LSV-BBW), aiming to offer valuable insights for researchers, engineers, and decision-makers in related fields. This comprehensive review covers the application of BBW and its associated technologies in LSVs. First, the current state of research on BBW systems is assessed, both domestically and internationally. Next, the fundamental principles and components of LSV-BBW technology are detailed. Following this, the control strategies of the LSV-BBW system are elaborated, with a clear definition of its performance metrics and identification of the key technologies involved. By analyzing the current trends in LSV-BBW technology development, this paper highlights cutting-edge advancements in the field. Finally, the significance and application prospects of LSV-BBW technology in promoting the intelligent, safe, and efficient development of LSVs are emphasized.