Traffic Jam Assist Market

Market Overview:

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. The implementation of various government initiatives to enhance road safety, rising expenditure capacities of consumers, and increasing safety awareness represent some of the key factors driving the market.

Traffic jam assist (TJA) is an advanced driver assistance system that is designed to continuously measure the speed of the surrounding vehicle and help the driver in heavy congestion traffic situations. It consists of an adaptive cruise control system, auto-go capability, lane-keeping assist system, and vehicle cameras to avoid rear-end collisions in dense traffic conditions and traffic jams. TJA autonomously accelerate and brake in low-speed traffic, all while remaining in the lane and maintaining a safe distance from the vehicles ahead. It allows vehicles to automatically take over driving, acceleration, braking, and steering within the same lane and assist in preventing collisions. TJA is a safe system that helps to mitigate fatigue associated with stop-and-go commuting.

Traffic Jam Assist Market Trends:

An increasing number of road accidents and rising safety awareness across the globe is one of the key factors driving the market growth. TJA is an adaptive cruise control system that accelerates and brakes in low-speed traffic, while remaining in-lane and maintaining a safe distance from the car in front. In line with this, the widespread adoption of active safety systems in passenger and commercial vehicles, such as adaptive cruise control and lane keep systems to enhance safety while driving, is acting as another growth-inducing factor. Moreover, the shifting preference among the masses for driver assistance systems (DAS) coupled with mandatory installation of DAS owing to government safety regulations is favoring the market growth. Apart from this, the integration of artificial intelligence (AI) to allow the detection of heavy and light vehicles as well as pedestrians are providing an impetus to the market growth. Additionally, the introduction of a combination of cameras and radar systems to maintain a safe, set distance from vehicles and the utilization of lane keeping system to keep the car centered within its lane is propelling the market growth. Furthermore, the increasing demand for luxury vehicles and the rising preference for technologically advanced cars due to their easy driving experience is positively influencing the market growth. Other factors, including rising expenditure capacities of consumers, extensive research and development (R&D) activities, widespread adoption of active safety systems in passenger and commercial vehicles, and the implementation of various government initiatives to enhance road safety, are anticipated to drive the market growth further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global traffic jam assist market, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on automation, component, and method.

Automation Insights:

• Level 2
• Level 3
   

The report has provided a detailed breakup and analysis of the traffic jam assist market based on automation. This includes levels 2 and 3. According to the report, level 3 represented the largest segment.

Component Insights:

• Automotive Cameras
• Ultrasonic Sensors
• RADAR
• LiDAR
• ECUs
   

The report has provided a detailed breakup and analysis of the traffic jam assist market based on the component. This includes automotive cameras, ultrasonic sensors, RADAR, LiDAR, and ECUs. According to the report, RADAR represented the largest segment.

Method Insights:

• Lane Tracking System
• Vehicle Detection and Collision Avoidance System
• Auto Steering and Speed Control System
• Others
   

The report has provided a detailed breakup and analysis of the traffic jam assist market based on the method. This includes lane tracking, vehicle detection and collision avoidance, auto steering and speed control systems and others. According to the report, vehicle detection and collision avoidance represented the largest segment.

Regional Insights:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. According to the report, North America was the largest market for traffic jam assist. Some of the factors driving the North America traffic jam assist market included extensive research and development (R&D) activities, the widespread adoption of active safety systems in passenger and commercial vehicles, and the implementation of various government initiatives.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global traffic jam assist market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Audi AG (Volkswagen AG), Continental AG, Mobileye Global Inc. (Intel Corporation), Robert Bosch GmbH, Valeo, ZF Friedrichshafen AG, etc.  Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global traffic jam assist market performed so far and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global traffic jam assist market?
• What are the key regional markets?
• Which countries represent the most attractive traffic jam assist markets?
• What is the breakup of the market based on automation?
• What is the breakup of the market based on the component?
• What is the breakup of the market based on the method?
• What is the competitive structure of the global traffic jam assist market
• Who are the key players/companies in the global traffic jam assist market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the traffic jam assist market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global traffic jam assist market.
• The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the traffic jam assist industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.