LONDON--(BUSINESS WIRE)--Technavio research analysts forecast the global automotive traffic jam assist (TJA) systems market to grow at a CAGR of more than 12% during the forecast period, according to their latest report.
The study covers the present scenario and growth prospects of the global automotive TJA systems market for 2017-2021. The report discusses the major drivers influencing market growth and summarizes the challenges faced by vendors and the market. It also examines the key trends emerging in the market and their likely effect on future market dynamics.
According to Siddharth Jaiswal, a lead analyst at Technavio for automotive electronics research, “The main reasons for rear-end collision which account for approximately 34% of crashes are speeding, distracted driving, and following the leading vehicle too closely. To reduce human errors during driving, OEMs have been focusing on developing semi-autonomous technologies like ACC and TJA.”
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Technavio automotive analysts highlight the following three drivers that are contributing to the growth of the global automotive TJA systems:
- Adoption of efficient sensor fusion techniques to improve accuracy
- Rising demand for driver assistance systems
- Increase in demand for luxury vehicles
Adoption of efficient sensor fusion techniques to improve accuracy
The combined Kalman filter-perturbation estimation technique (CKFPET) is used in the micro-electro-mechanical systems (MEMS) space to combine information received from multiple sensors, otherwise known as the process of sensor fusion. The TJA system (which collaborates and processes the inputs received from various sensors) is dependent on the Combined Kalman filtering-perturbation estimation theory algorithm and its efficient use in reducing the ambient noise detected by each of the sensors. These sensors help to improve the accuracy of TJA systems, thus making them more effective.
Rising demand for advanced driver assistance systems (ADAS)
The features provided by ADAS have been increasing over the years, and the system has evolved into a robust, reliable, and resilient system. In recent years, ADAS was implemented only in premium vehicles due to the high cost. However, due to technological advancement and expansion of ADAS ecology, OEMs are poised to introduce the system in the mainstream market. TJA is a level 3 autonomous feature and is considered as a crucial component of the ADAS package in modern day automobiles.
In the past few years, growing concerns about automotive safety among consumers have resulted in high demand for advanced safety features in vehicles. Regulatory bodies across the globe are establishing norms to mandate ADAS implementation.
“Regulatory measures and technological advancements will set the road for ADAS through economies of scale operations, which will, in turn, drive the demand for level 3 autonomous features like TJA,” says Siddharth.
Increase in demand for luxury vehicles
Despite the current economic slowdown due to the exit of the UK from the European Union (EU) and growing uncertainty regarding increased interest rates by the Federal Reserve, the demand for vehicles has been robust across the world.
The passenger vehicle segment is expected to grow at a CAGR of close to 4% during the forecast period whereas, the luxury vehicle segment is expected to grow at a CAGR of over 7% during that time. The luxury vehicle segment is the major market for level 3 autonomous features like adaptive cruise control (ACC) and TJA owing to the high cost of installation. Therefore, the increase in demand for luxury vehicles is expected to influence market growth during the forecast period.
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