Traction Control System Market to Reach $94.4 Billion by 2034
The global Traction Control System Market is expected to reach $94.4 billion by 2034, growing at a CAGR of 8.5%, according to Allied Market Research.
Market Drivers
- Growth in demand for safety features
- Integration of electronics and sensors in automotive systems
- Rise in demand of two-wheeler and passenger vehicle sales globally
- Expansion in emerging markets with rise in two-wheeler demand
- Expansion in untapped market of developing countries
Challenges
Dependency on sensor and software reliability
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Impact of Russia-Ukraine War Scenario
The ICE Vehicle segment is expected to maintain its leadership status throughout the forecast period.
Author's summary: Traction Control System Market to grow at 8.5% CAGR.
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