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The rising cases of road accidents and the increasing traffic congestion are driving the demand for the market.

VANCOUVER, BC, CANADA, July 12, 2022 /EINPresswire.com/ -- 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 latest report titled ‘Global Traffic Jam Assist Systems Market,’ published by Emergen research, provides the reader with a comprehensive view of the global Traffic Jam Assist Systems industry, acquainting them with the latest market trends, industry insights, and market share. The report provides an in-depth investigation of the global market, largely focusing on each segment and sub-segment of the Traffic Jam Assist Systems market. The market forecasts included in the report are performed by our team of experts and are of great significance as they provide deep insights into various crucial industry parameters. These facts and figures help readers evaluate the global market growth, production, and consumption rates, volatility in demand and product prices, and upcoming market trends over the projected period. The market research report contains significant details on the global Traffic Jam Assist Systems market value based on market dynamics and various growth factors.

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Some Key Highlights from the 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.

It is expected that the RADAR segment will lead the market with a CAGR of 12.8% over the forecast timeframe. RADAR sensors are used for autonomous driving in order to perform driving functions that improve safety and security.

Over the forecast timeline, the Level 3 segment accounts for the largest market. The vehicle can accelerate across a slow-moving vehicle at level 3, monitor the condition, change directions, and manage momentum, acceleration, and braking.

The Vehicle Detection and Collision Avoidance system is expected to hold the largest market over the forecasted period. This method facilitates the identification of light and heavy vehicles and pedestrians by the application of artificial intelligence and can measure the height and width of vehicles.

During the forecast timeframe, the Auto Steering and Speed Control System segment is expected to have a significant market since this approach is being used to control the speed of the vehicle to prevent congestion when the speed of the vehicle becomes less than 40 kmph.

It is expected that North America will lead the market over the forecast timeframe. The growing implementation of highly advanced road infrastructure has contributed to an early expansion of the market.

However, the report takes into account the current COVID-19 impact on the global economy and this particular business sector. The global Traffic Jam Assist Systems market growth has been extensively hampered by the current economic situation triggered by the COVID-19 pandemic. The pandemic has led to some devastating effects on the global economy, besides disrupting the functioning of the Traffic Jam Assist Systems industry. It offers an exhaustive analysis of the present and future effects of the pandemic on this business sphere. Moreover, the adverse effects of the coronavirus pandemic on the global Traffic Jam Assist Systems market, as well as its fundamental segments, have also been elucidated in this report.

Major Players/Manufacturers profiled in the report are:

Mercedes-Benz, Automotive Group., ZF Friedrichshafen AG, NVIDIA Corporation, AUDI AG, ŠKODA AUTO, Robert Bosch GmbH, Hyundai Mobis, Ford Motor Company, Bayerische Motoren Werke AG, and Continental AG among other.

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For better understanding, the report further divides the market into key segments such as product types and application spectrum. The report also offers estimates about the segment and sub-segment expected to grow at a rapid pace and the key factors expected to drive revenue growth of the segments during the forecast timeline of 2021-2028.

mergen 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)
ECUs

Automotive Cameras

LiDAR

Ultrasonic Sensors

RADAR

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

Others

The regional analysis states the global market is bifurcated into North America, Europe, Latin America, Asia-Pacific, and Middle East & Africa. The report also covers import export consumption, supply and demand ratio, cost, pricing analysis, gross margin, and revenue estimation of each player in each region. The report also offers a country-wise analysis of the key regions to offer a better understanding of the global market.

Regional Segmentation Covers:

North America (U.S., Canada, Mexico)

Europe (U.K., Italy, Germany, France, Rest of Europe)

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)

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The report further sheds light on the strength, weaknesses, opportunities, and threats faced by the companies in the global Traffic Jam Assist Systems market and additionally measures the feasibility and investment return analysis in the report. Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market and covers the initial and future assessment of the COVID-19 impact on the market. The report is a qualitative and quantitative assessment of the global Traffic Jam Assist Systems market that has been formulated by extensive primary and secondary research with the data further validated from industry experts and professionals.

Key Reasons to Buy This Report:

The report presents a thorough examination of the Traffic Jam Assist Systems market, elaborating on its core segments. The report conducts historical and future assessments of the market dynamics and offers precise data in a well-organized order.

The report evaluates the most prominent market growth potentials, dynamic market trends, driving factors, restraints, investment opportunities, and threats.

The report is inclusive of an in-depth study of the industry variables, manufacturers’ value chain, sales volume, market share, competitive landscape, and effective business tactics.

The report further identifies the key regions and segments dominating the market. These regions are foreseen to register fast-paced growth over the forecast duration.

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Thank you for reading our report. To inquire about customization or any query about the report, please get in touch with us. Our team will make sure the report is best suited to your needs. Emergen Research also offers a country-wise customized report as per clients’ needs. 

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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Traffic Jam Assist Systems Market Size Worth USD 6.38 Billion by 2027

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