The importance of safety in a vehicle is taking precedence over other factors involved in making the driving experience a better one. An increase in the number of vehicles is leading to innumerable road accidents, primarily caused by human error. The industry is turning to the automated driving systems to provide a solution in order to minimize the human effort involved in driving, especially during certain situations. Increase in the traffic congestion is another major concern attributed to the increase in the number of vehicles.
People all over the world, both living in the developed and developing countries, are facing the perils of wasting a significant number of hours driving on the roads at extremely slow speed. This, consequently, is increasing their level of exhaustion while driving. An intelligent and innovative solution to both these problems has been introduced in the form of the traffic jam assist systems.
The new market report by BIS Research, titled ‘Global Traffic Jam Assist Systems …st – 2017 To 2026’, defines and estimates the market size and future growth potential of the automotive traffic jam assist systems market during the forecast period (2017 to 2026).
The global traffic jam assist systems market generated $1.08 billion in 2016; the market currently is being driven by the need to find a solution to reduce the vehicle congestion on the roads. Additionally, introducing these systems on the civilian roads will help reduce accidents caused due to the human error. However, the factors such as the high cost associated with the technology and performance limitations of the components may affect the sales adversely.
Furthermore, the apprehensions regarding the reliability of the autonomous driving systems may hinder the market growth. On the other hand, the automotive industry adapting to the new technologies with regard to the automated driving systems gives the prominent players a major opportunity to establish themselves in the market. The collaborations between the various component and automobile manufacturers are expected to contribute positively to the market as well.
Few companies mentioned in the report:
Continental AG (Germany), Robert Bosch GmbH (Germany), NVIDIA Corporation (the U.S.), Delphi Automotive PLC (the U.K), Denso Corporation (Japan), Infineon Technologies AG (Germany), and Mobileye N.V. (Israel).
Key Questions Addressed in the Report:
- What is the market size of the global traffic jam assist systems in terms of value from 2016-2026?
- Which component type is dominating the global traffic jam assist systems market in terms of value?
- What will be the revenue generated by the different automation levels in the global traffic jam assist systems market from 2016-2026?
- Which region in the traffic jam assist systems market is expected to grow the fastest from 2016-2026?
- What are the different factors driving the market forward during the forecast period?
- What are the major factors challenging the growth of the global traffic jam assist systems market?
- Which types of new strategies are being adopted by the existing market players to make a mark in the industry?
- What was the market share of the leading manufacturers in the year 2016?
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