Automotive Traffic Assist System Market: Introduction
Automotive traffic assist system is a key technology in advanced driver assistance system that assists the vehicle driver while driving on road or highway. Automotive traffic assist system takes over the vehicle’s lateral and longitudinal control. It provides permanent supervision to the driver and frequently takes over vehicle control during heavy traffic by braking and accelerating the vehicle automatically.
Global Automotive Traffic Assist System Market: Competitive Landscape
- In 2019, at CES, in Las Vegas, NVIDIA Corporation announced the unveiling of “DRIVE AutoPilot”, which, according to the company, is the world’s first commercially present Level 2+ advanced automated driving system. Its cutting-edge artificial intelligence technologies are likely to supervise self-driving or fully autonomous vehicles, production of which is expected to begin 2020 onward.
Robert Bosch GmbH
Established in 1886, Robert Bosch GmbH is headquartered in Stuttgart, Germany. Robert Bosch GmbH is a leading firm that provides innovative solutions for connected mobility, smart cities, smart homes, and connected manufacturing. The company has over 60 regional subsidiaries and related companies located in 60 countries, with sales service partners in 150 countries across the globe.
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ZF Friedrichshafen AG
Founded in 1995, ZF Friedrichshafen AG is headquartered in Friedrichshafen, Germany. ZF Friedrichshafen AG is a leading provider of driveline, chassis technology, and vehicle active and passive technology. The company operates in 40 countries along with 19 development location with almost 230 locations around the world. ZF Friedrichshafen AG invests approximately 6% of its sales in research and development activities, ensuring a strong focus on design and development of innovative technologies and components.
Global Automotive Traffic Assist System Market: Dynamics
Increase in Road Fatalities and Demand for Safety Solutions to Drive Global Market
Road accidents is a one of the leading causes of deaths and injuries globally. Human error, such as failing to appropriately judge incoming vehicle movement and losing control of vehicle operation are prime reasons for road fatalities. Vehicle equipped with traffic assist systems include key mechatronics components that continuously monitor vehicle surroundings and helps in reducing the possibility of a road accident. This has led to significant adoption of traffic assist systems and is anticipated to drive the global market in the near future.
Increase in Preference for Advanced Drive Assistance Systems (ADAS)
Consumer preference for enhanced safety in mobility, especially in heavy traffic and long route journeys that cause strain on the driver leading to road accidents, has resulted in increased adoption of ADAS-equipped vehicles. ADAS reduces distraction and strain on the driver and informs about traffic congestion through detection of roadblocks and guides on detours accordingly. This is another major factor that is likely to augment the demand for automotive traffic assist systems in the near future.
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Global Automotive Traffic Assist System Market: Segmentation
In terms of autonomy level, the global automotive traffic assist system market can be segmented into:
- Level 2
- Level 3
Based on vehicle type, the global automotive traffic assist system market can be divided into:
- Passenger Vehicle
- Commercial Vehicle
On the basis of component, the global automotive traffic assist system market can be segregated into:
In terms of propulsion type, the global automotive traffic assist system market can be categorized into:
Based on sales channel, the global automotive traffic assist system market can be bifurcated into:
The report on the global automotive traffic assist system market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
Regional analysis of the global automotive traffic assist system market includes:
- North America
- Latin America
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.