The research report delivers a comprehensive assessment of the existing and projected market scenario to offer estimations of the anticipated growth rate of the industry vertical over the forecast period of 2020-2027. Moreover, the report also offers key solutions and methodologies to help the companies and readers overcome the impact of the COVID-19 pandemic on the market.The market is further segmented into product types offered in the market and their application spectrum along with key geographical regions where the market has established substantial footing and comprehensive competitive analysis.
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.
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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)
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
Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
Europe
Asia Pacific
Latin America
MEA
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
1.4.1. Primary
1.4.2. Secondary
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
Continued…
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About Emergen Research
At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
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The global Collision Avoidance System Market size is expected to value at USD 18.97 billion by 2025.
The collision avoidance systems market is subject to witness a substantial growth due to the introduction of advanced technologies in automotive sector such as LiDAR (Light Detection and Ranging), digital camera, radar, and ultrasound technologies.Luxury car manufactures are spending substantial amount of money to exploit the use of high degree systems for their active safety packages.
Additionally, mitigating the impact on vehicle occupants and pedestrians, in a case of an accident.
These factors are expected to fuel the growth of collision avoidance systems market over the next seven years.Moreover, rising awareness among consumers, higher approval rate, coupled with substantial investment by industry participants for extensive research are propelling market expansion, in the recent years.
Introduction of automatic emergency braking by the U.S. National Highway Traffic Safety Administration (NHTSA) to limit crashes and reduce the loss of life is estimated to rocket market growth in the upcoming years.A collision avoidance system is also termed as a pre-crash system, or forward collision warning system, or collision-mitigating system, is largely adopted in luxury cars to prevent or reduce the severity of a collision.
Addition of GPS sensors that can detect fixed dangers such as approaching stop signs via a location database are some of the exclusive features of the system.
