Traffic Jam Assist (TJA) Market to grow at a CAGR of ~13.2%
Traffic jam assist demand is expected to grow at a CAGR of nearly 13.2% during the forecast period 2021-2031. In traffic jams, the vehicle automatically takes over driving, acceleration, braking, and steering within the same lane with the help of traffic assist system and helps avoid rear-end collisions in dense traffic and traffic jams.
One of the major growth drivers for the traffic jam assist include rising cases of road accidents, led by human errors and congestion, over the years. Increase in preference for driver assistance system (DAS) coupled with mandatory installation of DAS owing to government safety regulations is driving the growth of traffic jam assist solutions globally.
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FACTS AT A GLANCE
Companies: Aptiv plc,Audi AG,BMW UK,Continental AG,Hitachi Ltd.,Magna International Inc.,Delphi Technologies,Infineon Technologies AG,Hyundai Mobis,NVIDIA Corporation,Valeo SA,The Ford Motor Company,Others.
Coverage: All major geographies and key segments
Segments: Type(Adaptive Cruise Control System,Lane Tracking System,Vehicle Detection and Collision Avoidance System); By Component(Automotive Cameras,ECUs,LiDAR,RADAR,Ultrasonic Sensors)
Geographies: North America (U.S., Canada),Latin America (Mexico, Brazil, Argentina, Chile, Peru),Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe),CIS and Russia,Asia-Pacific (China, India, ASEAN, South Korea),Japan,Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
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ABSTRACT-
What is Driving Demand for Traffic Jam Assist?
The growing demand for luxury vehicles is likely to boost the sales of traffic jam assist systems over the forecast period as the preference for technologically advanced vehicles is rising rapidly for easy driving experience. The emergence of next generation TJA and ACC will drive the growth prospects for the global automotive traffic jam assist systems market during the forecasted period.
The current ACC and TJA systems use surrounding information from radar or LiDAR sensors to navigate through traffic, but the cost incurred in the manufacture of these sensors is very high. As a result, researchers have been focusing on the development of next generation TJA and ACC systems that do not depend on sensors for information about the driving conditions.
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Radar Segment is expected to Contribute Largest Market Share
The RADAR segment is estimated to dominate the global demand over the forecast period. RADAR sensors are majorly used for autonomous driving in order to integrate driving functions that provides ease, protection, and comfort.
Major OEMs have been incorporating traffic jam assist solutions to attract more consumers and achieve higher safety ratings. Therefore, they either offer safety systems as additional features or standardize them across their models.
Increasing number of road accidents and growing safety awareness are the major drivers for the growth of the traffic jam assist industry, which has resulted in more demand for radar sensors in countries such as U.S., Japan, China, and major European countries. Moreover, rising focus on collision avoidance systems in semi-autonomous driving systems is projected to propel the demand for radar sensors over the forecast period.
However, the automotive cameras segment is likely to register considerable growth through 2031. The new generation of automotive cameras integrates artificial intelligence (AI) for image processing, making the system more reliable and effective.
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