The Global Traffic Jam Assist (TJA) Systems Market is expected to be valued at USD 6.38 Billion in 2027 from USD 2.63 Billion in 2019, registering a CAGR of 12.5% through the forecast period.
The report analyzes the Traffic Jam Assist Systems market by taking into consideration the key factors that drive or restrain the growth of the market. The report considers COVID-19 as one such factor. The report is furnished with the current market scenario and changes in the trends and dynamics of the industry with regard to the impact of the COVID-19 pandemic on the Traffic Jam Assist Systems market.
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The rising cases of road accidents and the increasing traffic congestion are driving the demand for the market. 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 study offers both quantitative and qualitative analysis of the global Traffic Jam Assist Systems market. The data is garnered through stringent primary and secondary research and further validated and verified through industry veterans and experts. To be updated, the report is furnished with the latest impact of the currently unfolding coronavirus pandemic on the Traffic Jam Assist Systems industry.
Key Highlights from 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.
- Over the projected timeline, the Level 3 sub-segment showcased for the highest share in the industry. In terms of acceleration, the vehicle can cross a slow vehicle at level 3, monitoring the condition, managing momentum, changing directions, braking, and acceleration.
- The RADAR sub-segment is leading the industry with 12.8% of CAGR during the estimated timeframe. RADAR sensors are majorly utilized in autonomous driving to perform various driving functions that enhance security and safety.
- The prominent companies operating in the Traffic Jam Assist Systems industry include Automotive Group., Mercedes-Benz, AUDI AG, NVIDIA Corporation, ZF Friedrichshafen AG, ŠKODA AUTO, Hyundai Mobis, Ford Motor Company, Robert Bosch GmbH, Bayerische Motoren Werke AG, and Continental AG.
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Emergen Research has segmented the global Traffic Jam Assist (TJA) Systems Market on the basis of component, level, method, and region:
The report further segments the Traffic Jam Assist Systems industry into types of products offered by the market and application spectrum. Additionally, it offers an extensive regional analysis of the Traffic Jam Assist Systems market with respect to production and consumption ratio, supply and demand, consumer behavior, import/export, market share, and market size, revenue contribution, and the analysis of key players operating in the industry.
- Component Outlook (Revenue, USD Billion; 2017-2027)
- Automotive Cameras
- Ultrasonic Sensors
- 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
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The regional analysis covers the following key geographies of the world:
- North America (U.S.A., Canada)
- 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)
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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