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. Owing to the increasing incidences of road crashes because of congestion and human errors, the industry for Traffic Jam Assist (TJA) Systems is predicted to rise exponentially over the commenced period. According to the WHO, due to road traffic crashes, about 1.35 million people die in a year worldwide. Moreover, governments’ growing concern and initiatives for preventing road accidents is further propelling the market’s growth. Crashes in road traffic and road accidents charge most countries 3% of their domestic product. Additionally, the increasing preference for reducing traffic congestion is augmenting demand in the sector.
However, the high cost of traffic jam assist systems is impeding the market’s expansion.
Key Highlights from Report
- In September 2020, a leading firm, ZF Friedrichshafen AG, collaborated with a start-up company, Aeva Inc, focusing on self-driving vehicle’s essential sensor. The ZF Friedrichshafen is using the cutting-edge technologies and relying on the expertise of Aeva for manufacturing of vehicle optical sensors required in the mass-production of sensors—sufficiently durable for roads apart from the testing situations.
- 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.
- 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 Vehicle Detection and Collision Avoidance System sub-segment holds the largest industry size. This method aids in facilitating the heavy and light vehicle’s identification and pedestrians through the application of AI and measuring the width and height of vehicles.
- During the estimated period, the Auto Steering and Speed Control System sub-segment is expected to hold a substantial share in the market due to its approach in controlling the vehicle’s speed for preventing congestion, especially when the vehicle’s speed is below 40 kmph.
- North America is leading the industry over the estimated timeline. The increasing implementation of advanced road infrastructure is contributing to the market’s early expansion.
- Major participants in the sector are 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.
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)
- 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
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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