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Traffic Jam Assist (TJA) Market Segmented By Component such as Automotive Cameras, ECUs, LiDAR, RADAR, Ultrasonic Sensors with Automation Level 2 and Level 3 having System Type includes Adaptive Cruise Control System, Lane Tracking System, Vehicle Detection and Collision Avoidance System
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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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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Get a Customized VersionThe 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.
The demand for traffic jam assist systems in the U.S. is projected to register strong growth between 2021 & 2031. The rising adoption of highly advanced road infrastructure has led to the early proliferation of TJA in the country.
In addition, the demand for traffic jam assist in the U.S. is expected to expand significantly owing to an increase in adoption of active safety systems in passenger and commercial vehicles such as adaptive cruise control and lane keep systems due to stringent governmental regulations regarding road safety in the country.
Furthermore, the promotion and increasing government funding of advanced driver assistance systems (ADAS) are estimated to play a significant role in the traffic jam assist industry in the U.S.
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Europe have presence of economically stable countries. These countries are also home to technologically advanced research institutes catering to the development of vehicle safety technologies. Additionally, major automakers and aftermarket players have established their technological centers and manufacturing facilities in various countries in this region including Germany, the U.K., and France.
Favorable government regulations and rising concern among the population toward road safety are supporting the growth of the traffic jam assist market in the region. For instance, the European Union has announced to install advanced safety systems in all new cars from mid-2022 to reduce the number of road fatalities.
This new regulation has mandated the adoption of tire pressure monitoring, intelligent speed assistance, and advanced driver distraction warning systems among others, for all ranges of vehicles, creating major growth avenues for the traffic jam assist sales.
Some of the leading providers of traffic jam assist systems include
The above mentioned companies offer a wide range of traffic jam assist systems and have secure distribution networks at a global level. The key strategies adopted by these companies to sustain their market position are collaborations, contracts & agreements, and new product developments.
By Component
By Automation Level
By System Type
By Region
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
