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.
The research takes a closer look at prominent factors driving the growth rate of the prominent product categories across major geography. Furthermore, the study covers a lot of the sales, gross margin, consumption capacity, spending power and customer preference across various countries. The report offers clear indications how the Traffic Jam Assist (TJA) Systems market is expected to witness numerous exciting opportunities in the years to come. Critical aspects including the growing requirement, demand and supply status, customer preference, distribution channels and others are presented through resources such as charts, tables, and infographics.
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.
The Vehicle Detection and Collision Avoidance system is expected to hold the largest market over the forecasted period. This method facilitates the identification of light and heavy vehicles and pedestrians by the application of artificial intelligence and can measure the height and width of vehicles.
During the forecast timeframe, the Auto Steering and Speed Control System segment is expected to have a significant market since this approach is being used to control the speed of the vehicle to prevent congestion when the speed of the vehicle becomes less than 40 kmph.
It is expected that North America will lead the market over the forecast timeframe. The growing implementation of highly advanced road infrastructure has contributed to an early expansion of the market.
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.
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Component Outlook (Revenue, USD Billion; 2017-2027)
Level Outlook (Revenue, USD Billion; 2017-2027)
Method Outlook (Revenue, USD Billion; 2017-2027)
Lane Tracking System
Vehicle Detection and Collision Avoidance System
Auto Steering and Speed Control System
Regional Outlook (Revenue, USD Billion; 2017-2027)
Table of Content
Chapter 1. Methodology & Sources
1.1. Traffic Jam Assist Systems Market Definition
1.2. Traffic Jam Assist Systems Market Research Scope
1.3. Traffic Jam Assist Systems Market Methodology
1.4. Traffic Jam Assist Systems Market Research Sources
1.4.3. Paid Sources
1.5. Traffic Jam Assist Systems Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Traffic Jam Assist Systems Segmentation & Impact Analysis
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