The report pays special attention to the key elements of the Traffic Jam Assist Systems Market, such as drivers, restraints, opportunities, threats, risks, limitations, and other aspects. The report covers a comprehensive analysis of the competitive landscape with a detailed analysis of the company profiles, product portfolio, and business expansion strategies.
The global Traffic Jam Assist(TJA) Systems Market is forecasted to be worth USD 6.38 Billion by 2027, according to a current analysis by Emergen Research. Due to growing cases of road accidents due to human errors and congestion, the market for Traffic Jam Assist(TJA) Systems is expected to expand substantially over the forecasted period. According to the World health organization, as a result of road traffic crashes, nearly 1.35 million people die per year globally. Besides, governments' rising concern and initiatives to prevent road accidents are expected to further propel the market growth over the forecasted timeline. Crashes in road traffic cost most nations 3 % of their gross domestic product. Moreover, the rising preference to reduce traffic congestion is likely to augment market growth shortly. Expensive Traffic Jam Assist systems are expected to impede market expansion during the forecast timeframe.
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The complete regional analysis covers:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Competitive Landscape:
The latest report encases an in-depth summary of the intensely competitive landscape of the global Traffic Jam Assist Systems market, with systematic profiling of the companies operating across this industry. In this section of the report, experts have listed down the strategic initiatives undertaken by these market rivals for proposed business expansion. Additionally, it highlights the key developments and financial positions of these companies to explain the overall market scenario. The company profiles of the established and new players have also been assessed in the report through effective analytical tools like SWOT analysis.
Key participants include Mercedes-Benz, Automotive Group., ZF Friedrichshafen AG, NVIDIA Corporation, AUDI AG, ŠKODA AUTO, Robert Bosch GmbH, Hyundai Mobis, Ford Motor Company, Bayerische Motoren Werke AG, and Continental AG among other.
Emergen Research has segmented the global Traffic Jam Assist(TJA) Systems Market on the basis of component, level, method, and region:
Component Outlook (Revenue, USD Billion; 2017-2027)
- ECUs
- Automotive Cameras
- LiDAR
- Ultrasonic Sensors
- RADAR
Level Outlook (Revenue, USD Billion; 2017-2027)
- Level 2
- Level 3
Method Outlook (Revenue, USD Billion; 2017-2027)
- Lane Tracking System
- Vehicle Detection and Collision Avoidance System
- Auto Steering and Speed Control System
- Others
Key Highlights from the Report
- In September 2020, ZF Friedrichshafen AG formed a partnership with Aeva Inc, a start-up from Silicon Valley, working on an essential sensor for self-driving vehicles. The ZF Friedrichshafen will use the technologies and expertise of Aeva in the manufacture of car optical sensors to mass-produce sensors that are sufficiently durable for roads outside of testing situations.
- It is expected that the RADAR segment will lead the market with a CAGR of 12.8% over the forecast timeframe. RADAR sensors are used for autonomous driving in order to perform driving functions that improve safety and security.
- Over the forecast timeline, the Level 3 segment accounts for the largest market. The vehicle can accelerate across a slow-moving vehicle at level 3, monitor the condition, change directions, and manage momentum, acceleration, and braking.
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