The global Traffic Jam Assist (TJA) Systems Market is forecasted to be worth USD 6.38 Billion by 2027. 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.
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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 global Traffic Jam Assist Systems market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global Traffic Jam Assist Systems market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.
Some major companies operating in the global market include 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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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
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The report aims to provide a complete analysis of the global Traffic Jam Assist Systems market with important details about the key market players from insightful primary and secondary research data. The report also aims to benefit the user by providing constructive data to gain insight into market growth, size, and investment approaches. Additionally, the report provides an extensive analysis of the Traffic Jam Assist Systems market, including key data, such as factors influencing the growth of the market, buyers and vendors, production and consumption, and revenue.
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