Global Automotive Traffic Sign Recognition Market 2017-2021

Overview of the global automotive traffic sign recognition market

According to Technavio’s research analysis, the introduction of regulatory policies by government agencies will be one of the major factors that will have a positive impact on the growth of the global automotive traffic sign recognition market till 2021. Numerous stringent regulations around the world in the automotive industry have resulted in better technology adoption rates and have improved the global national economies. For instance, the Government Federal Motor Carrier Safety Administration 2011-2016 Strategic Plan of the US puts forth policies that raise the safety initiatives to lower vehicle accident numbers. Also, the initiatives from NCAP around the world have increased the implementation of ADAS by OEMs will also drive the market’s growth during the forecast period. Some features of ADAS system such as easy park assist, adaptive cruise control, active emergency braking, blind spot monitoring, and traffic sign recognition will boost the adoption of improved automotive safety technologies in the market. This will in turn, fuel the growth of the automotive traffic sign recognition system market and our market research analysts predict that this market will grow at a CAGR of about 32% by 2021.

The decline in prices for ADAS subsystems helping OEMs and consumers is one of the key trends that will contribute to the growth of the automotive traffic sign recognition system market in the forthcoming years. The growth of automotive safety systems and technological improvements due to increasing consumer demand and regulatory pressures may cut down the costs of such technologies. These technologies include adaptive headlights, lane departure warning, active braking, blind spot detection, and traffic sign recognition in ADAS. Moreover, with the OEMs equipping ADAS in many vehicle models, the companies might offer ADAS with traffic sign recognition system in mid-segment and entry-level vehicles during the forecast period.

Competitive landscape and key vendors  

The consumer demand for a lowest level of advanced driver assistance and regulatory mandates is likely to increase the automotive traffic sign recognition market during the forecast period. ADAS suppliers may work with the US and European regulatory bodies to help in defining to balance homologation standards. Working together can aid OEMs and tier-1 manufacturers fasten up their technological improvements and attain economies of scale through increased adoption.

The leading vendors in the market are –

• Bosch
• Continental
• Daimler
• Delphi Automotive
• Mobileye
• ZF Friedrichshafen

The other prominent vendors in the market are Autoliv, DENSO, Elektrobit, Ford Motor Company, Itzel, Magna International, and Toshiba.

Segmentation by application and analysis of the automotive traffic sign recognition market

• Commercial Vehicles
• Passenger Vehicles

During 2016, the passenger vehicles application segment accounted for the major shares of the automotive traffic sign recognition market. Factors such as the larger demand for passenger cars  and greater penetration of luxury cars in the passenger car segment will contribute to the growth of this industry segment in the coming years.

Geographical segmentation and analysis of the automotive traffic sign recognition market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the automotive traffic sign recognition market by 2021. The presence of mandatory regulations for the addition of automotive safety features such as advanced driver assistance systems is the major factor driving the growth of the automotive traffic sign recognition system Market in this region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global automotive traffic sign recognition market?
• What are the key market trends impacting the growth of the global automotive traffic sign recognition market?
• What are the challenges to market growth?
• Who are the key vendors in the global automotive traffic sign recognition market?
• What are the market opportunities and threats faced by the vendors in the global automotive traffic sign recognition market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global automotive traffic sign recognition market?

Technavio also offers customization on reports based on specific client requirement.

One of the primary factors driving the growth of the global automotive traffic signal recognition market is the increasing efforts to avoid accidents by using traffic sign recognition system. This upcoming report on the global automotive traffic sign recognition market offers insights into the major trends and drivers pushing the market growth of the automotive industry. Our reports focus on major fast-growing segments of automotive industry like the automotive electronics implementing a unique method for a data collection.

Ensuring precise and accurate forecasts, our industry experts implement an extensive research approach of primary and secondary data collection methods and assess the rapidly evolving market landscape of the automotive electronics sector. The key approaches involved in this methodology are detailed vendor briefing, online surveys, and consultation of industry journals and publications. Also, by taking into account the market forecast and size, surging demand for various segments of the automotive electronics sector, the market research professionals at Technavio present an all-inclusive picture of the automotive traffic sign recognition market from 2017 to 2021.

To help the clients gain a better understanding, the market research report on the automotive traffic sign recognition market also covers vendors like Daimler, Continental, Bosch, Ford, Delphi, ZF, Mobileye, and TOSHIBA. Moreover, to offer clients the scope to identify the market opportunities and expand in niche markets, this report on the automotive traffic sign recognition market also covers geographies like the Americas, APAC, and EMEA.

The upcoming industry research report for the automotive traffic sign recognition market also explicates the market trends, market segmentation, market size and share, and industry analysis that automotive electronics sector currently experiences. This upcoming report on the automotive traffic sign recognition market presents insights into the rapidly changing competitive landscape to give clients a complete outlook of the forthcoming events within the automotive industry. Technavio also offers in-depth market assessments into the sectors such as automotive components and wheels and tires.