Global Traffic Sign Recognition System Market is expected to reach by 2026, at a CAGR of 3.8% during the forecast period.Global Traffic Sign Recognition System Market Overview
A traffic-sign recognition (TSR) system is a type of technology that can identify traffic signs such as turn ahead, speed limit, and so on that are mounted alongside the lane. Where the automotive industry has arisen as a major purchaser of sophisticated electronics. Electronic designers are putting a lot of effort into creating robust products for the automotive industry. Among the most recent innovations produced by numerous electronics manufacturers is traffic signal recognition technology. The growing focus on the advancement of comprehensive advanced driver assistance systems (ADAS) is propelling the traffic signal recognition industry forward. The report also covers the detailed analysis of the global traffic-sign recognition (TSR) system industry with the classifications of the market based on type, vehicle type and region. Analysis of past market dynamics from 2016 to 2019 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key player's contribution in it.To know about the Research Methodology :- Request Free Sample Report
Global Traffic Sign Recognition System Market Dynamics
Businesses are integrating technology such as the Internet of Things (IoT) and its solutions, such as digital sensors, technological systems, and utilities, to keep their data banks current. Companies can achieve significant growth in the increasingly competitive global traffic sign identification industry by implementing these solutions. Furthermore, automobile giants are collaborating with technology companies to create technologies that help their cars intelligently interpret traffic signs. This approach also aids players in the global traffic sign recognition systems industry in maintaining their market domination. For example, Volkswagen collaborated with Intel and Mobileye in 2019 to increase road safety in its vehicles. In this collaboration, the automotive maker can incorporate high-resolution cameras, sensors, and an AI platform into the vehicles, assisting the driver in understanding road conditions and possible threats ahead. In addition, one of the main factors projected to drive the development of the traffic sign recognition system market in the coming years is a decline in the price of ADAS subsystems, which is expected to support OEMs and customers. As a result of increasing market demand and regulatory pressures, the production of automotive safety systems and technological advances could reduce the cost of such technologies. ADAS equipment includes adaptive headlights, lane departure warnings, active braking, blind-spot detection, and traffic sign recognition. Furthermore, by integrating ADAS in several vehicle types, OEMs are expected to market ADAS with a traffic sign recognition system. Furthermore, with OEMs incorporating ADAS into a variety of vehicle models, the companies could sell ADAS with traffic sign recognition systems in mid-segment and entry-level vehicles during the forecast period.Global Traffic Sign Recognition System Market Segmentation Analysis
By Type, the traffic sign detection technology maintained a 66% market share in 2019 and is predicted to maintain its dominance over the forecasted period due to the growing introduction of traffic sign detection tools in autonomous vehicles. This AI software ensures that cars obey speed limits by detecting speed limit signals and automatically decreasing vehicle speed in compliance with the regulation. Furthermore, the detection system can detect traffic signals including lane changes and stop-go signs, enabling the driver to move safely in congested areas. With the increasing number of traffic injuries caused by speeding, signal detection technology can greatly improve road safety.By Vehicle Type, the passenger vehicles segment accounted for the major shares of the traffic sign recognition system market. Factors such as increased demand for passenger cars and greater penetration of luxury cars in the passenger vehicles segment are expected to drive the growth of the traffic sign recognition systems market. The passenger vehicle segment of the traffic sign recognition system industry is growing rapidly in Asia Pacific's developing countries. The region's demand growth can be due to an increase in GDP and population, a change in lifestyle, improved customer buying power, and the expansion of infrastructure.
Global Traffic Sign Recognition System Market Regional Insights
In terms of the number of vehicle rivals and infrastructure service suppliers, North America continues to dominate the global traffic sign recognition system market. The United States' rising vehicle safety regulations and mass use of advanced driver assistance systems are both contributing to the region's dominance (ADAS). Similarly, due to increasing demand for premium cars, increased road safety awareness, and government regulations regarding road safety and minimum safety measures in a car, the Asia Pacific region, especially China, is expected to see promising growth in the traffic sign recognition system market.Global Traffic Sign Recognition System Market Scope: Inquire before buying
Global Traffic Sign Recognition System Market by Region
• North America • Asia pacific • Europe • Middle East and Africa • South AmericaGlobal Traffic Sign Recognition System Market Key Players
• Robert Bosch GmbH • Toshiba • Continental AG • Mobileye Corporation • DAIMLER AG • DENSO CORPORATION • FORD MOTOR COMPANY • HELLA AGLAIA MOBILE VISION GMBH • MOBILEYE CORPORATION • VOLKSWAGEN • ZF FRIEDRICHSHAFEN • dSPACE GmbH • Magna International Inc. • ELBIT • Elektrobit
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Traffic Sign Recognition System Market Size, by Market Value (US$ Mn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2019 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Traffic Sign Recognition System Market 3.4. Geographical Snapshot of the Traffic Sign Recognition System Market, By Manufacturer share 4. Global Traffic Sign Recognition System Market Overview, 2019-2026 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Traffic Sign Recognition System Market 5. Supply Side and Demand Side Indicators 6. Global Traffic Sign Recognition System Market Analysis and Forecast, 2019-2026 6.1. Global Traffic Sign Recognition System Market Size & Y-o-Y Growth Analysis. 7. Global Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 7.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 7.1.1. Lane Line Marker Detection 7.1.2. Traffic Sign Detection 7.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 7.2.1. Commercial Vehicle 7.2.2. Passenger Vehicle 8. Global Traffic Sign Recognition System Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2019-2026 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 9.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 9.1.1. Lane Line Marker Detection 9.1.2. Traffic Sign Detection 9.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 9.2.1. Commercial Vehicle 9.2.2. Passenger Vehicle 10. North America Traffic Sign Recognition System Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2019-2026 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 11.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 11.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 12. Canada Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 12.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 12.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 13. Mexico Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 13.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 13.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 14. Europe Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 14.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 14.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 15. Europe Traffic Sign Recognition System Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2019-2026 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 16.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 16.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 17. France Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 17.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 17.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 18. Germany Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 18.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 18.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 19. Italy Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 19.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 19.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 20. Spain Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 20.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 20.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 21. Sweden Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 21.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 21.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 22. CIS Countries Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 22.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 22.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 23. Rest of Europe Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 23.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 23.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 24. Asia Pacific Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 24.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 24.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 25. Asia Pacific Traffic Sign Recognition System Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2019-2026 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 26.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 26.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 27. India Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 27.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 27.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 28. Japan Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 28.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 28.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 29. South Korea Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 29.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 29.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 30. Australia Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 30.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 30.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 31. ASEAN Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 31.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 31.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 32. Rest of Asia Pacific Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 32.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 32.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 33. Middle East Africa Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 33.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 33.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 34. Middle East Africa Traffic Sign Recognition System Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2019-2026 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 35.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 35.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 36. GCC Countries Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 36.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 36.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 37. Egypt Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 37.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 37.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 38. Nigeria Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 38.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 38.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 39. Rest of ME&A Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 39.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 39.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 40. South America Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 40.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 40.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 41. South America Traffic Sign Recognition System Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2019-2026 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 42.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 42.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 43. Argentina Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 43.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 43.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 44. Rest of South America Traffic Sign Recognition System Market Analysis and Forecasts, 2019-2026 44.1. Market Size (Value) Estimates & Forecast By Type, 2019-2026 44.2. Market Size (Value) Estimates & Forecast By Vehicle Type, 2019-2026 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Traffic Sign Recognition System Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of key players by price, presence, market share, Applications and R&D investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Applications 45.2.3.2. M&A Key Players, Forward Integration and Backward Integration 45.3. Company Profile : Key Players 45.3.1. Toshiba 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.4. Robert Bosch GmbH 45.5. Toshiba 45.6. Continental AG 45.7. Mobileye Corporation 45.8. DAIMLER AG 45.9. DENSO CORPORATION 45.10. FORD MOTOR COMPANY 45.11. HELLA AGLAIA MOBILE VISION GMBH 45.12. MOBILEYE CORPORATION 45.13. VOLKSWAGEN 45.14. ZF FRIEDRICHSHAFEN 45.15. dSPACE GmbH 45.16. Magna International Inc. 45.17. ELBIT 45.18. Elektrobit 46. Primary Key Insights