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:

  • Sensors
  • LiDAR
  • RADAR
  • Camera
  • Others

In terms of propulsion type, the global automotive traffic assist system market can be categorized into:

  • Gasoline
  • Diesel
  • Hybrid
  • Electric

Based on sales channel, the global automotive traffic assist system market can be bifurcated into:

  • OEM
  • Aftermarket

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
  • Europe
  • 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.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

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.

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