According to IMARC Group’s latest research report, titled “Traffic Jam Assist Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” presents a comprehensive analysis of the industry, covering traffic jam assist market size, opportunity, overview, share, trends, demand, and growth prospects. The report also provides competitor and regional analysis and showcases the contemporary advancements in the global market.
How big is the Traffic Jam Assist Market?
The global traffic jam assist market size reached US$ 2.71 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.58 Billion by 2028, exhibiting a growth rate (CAGR) of 12.40% during 2023-2028.
What is Traffic Jam Assist?
Traffic jam assist (TJA) represents an advanced driver assistance system that is designed to continuously calculate the speed of the surrounding vehicle and aid the driver in heavy congestion traffic situations. It consists of an auto-go capability, lane-keeping assistant, adaptive cruise control system, and car cameras to avoid rear-end collisions in dense traffic conditions and jams. Traffic jam assist autonomously accelerates and brakes at a low-speed standstill, all while remaining in the lane and maintaining a safe distance from the vehicles ahead. In addition to this, it allows automobiles to automatically take over acceleration, braking, driving, and steering and aid in preventing collisions. As a result, traffic jam assist finds widespread applications in passenger cars and commercial vehicles across the globe.
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What are the Growth Prospects and Trends in the Traffic Jam Assist Market?
The escalating number of road accidents and the rising consumer safety awareness are among the primary factors driving the traffic jam assist market. Besides this, the extensive utilization of active safety techniques in passenger and commercial vehicles, such as adaptive cruise control and lane keep systems to enhance safety while driving, is further augmenting the market growth. Moreover, the shifting preference among individuals toward driver assistance systems (DAS) and the introduction of cameras and radar techniques to maintain a safe, set distance from vehicles are also catalyzing the global market.
Apart from this, the growing demand for luxury cars and the increasing need for technologically advanced automobiles, owing to their easy driving experience, are acting as significant growth-inducing factors. Furthermore, the integration of artificial intelligence (AI) to allow the detection of heavy and light vehicles and pedestrians, the inflating expenditure capacities of consumers, and the elevating requirement for active safety systems in passenger and commercial cars are expected to bolster the traffic jam assist market in the coming years.
Who are the key Players Operating in the Industry?
- Audi AG (Volkswagen AG)
- Continental AG
- Mobileye Global Inc. (Intel Corporation)
- Robert Bosch GmbH
- Valeo
- ZF Friedrichshafen AG
What is included in Market Segmentation?
The report has segmented the market into the following categories:
Automation Insights:
- Level 2
- Level 3
Component Insights:
- Automotive Cameras
- Ultrasonic Sensors
- RADAR
- LiDAR
- ECUs
Method Insights:
- Lane Tracking System
- Vehicle Detection and Collision Avoidance System
- Auto Steering and Speed Control System
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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