Table of Contents
North America market for traffic sign recognition systems was worth US$ 175 million in 2015, and is expected to reach US$ XX.XX million by 2020, at CAGR of 16.77%. North America is one of the largest market for automotive sensors because of the increasing demand for luxury vehicles, which are a major application for these systems. In addition, the increase in stringency for safety regulation by NHTSA, would also help to manoeuvre the demand of the traffic recognition systems.
Traffic Sign Recognition is a driver support function, which is used to notify and warn the driver about the restrictions that are effective on the road. Examples for such restrictions are ‘speed limit zones’ or ‘no-overtaking’ indications. The system can help the driver to maintain a permissible speed, obey the local traffic instructions, or any other urban restrictions. The system recognizes and interprets various traffic signs, both fixed signs on the road side and the overhead LED signs, using vision-only information. Detection stage is accountable for finding the region of interest from the picture frame that is captured by a video camera mounted on top of a vehicle. The region is the probable part of the image, which contains traffic symbols. The second stage of automatic detection is the recognition of traffic symbol. Thereby the system is suited to study the traffic scene image captured by the camera, obtain the traffic symbol and make the necessary decisions.
The alarming rate of deaths and casualties resulting from human errors on the roads has increased considerable in US. Thereby, an employment of the technology in combination with other effective human-machine interfaces that falls in the category of safety systems, would help to vividly reduce accident rates. In addition the convenience that these system brings to the table, would continue attracting a lot of adoption. BMW is one of the early adopters of this technology followed by Mercedes, Audi, and Volvo.
The advancement in the sensor and automotive camera technologies would help to augment the demand and adoption of these systems. However, the effectiveness of the sensors to adapt to the real time information sensitivity, makes it difficult to integrate these systems in the vehicle for challenging situations. High cost of systems and associated components makes it further difficult to integrate these sensors in mass market vehicles, making the market stagnated to a reasonable extent. Among application, Shape-based detection systems would have the highest growth rate in the traffic sign recognition control systems for North America. Some of the major vendors of the traffic sign detection systems technology mentioned in the report are DENSO, TRW, Mobileye, Bosch, and Daimler.
What the Report Offers
Market Definition along with identification of key drivers and restraints for the market.
Market analysis with region specific assessments and competition analysis on a regional scale.
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies, which can influence the market on a regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
Identification and analysis of the Macro and Micro factors that affect the industry on both regional scale and country wise.
Please note: this report requires certain updates. We have all the information available but require 2 business days to complete the process and ensure it is as up-to-date as possible.
Get Industry Insights. Simply.
Talk to Veronica
+1 718 514 2762
“The gas insulated switchgear market is projected to grow at a CAGR of 9.4% from 2016 to 2021” The gas insulated switchgear market is expected to reach a market size of USD 25.95 billion by 2021, ...
Use this report to: - Analyze the developing market for superconducting applications, materials and other enabling technologies. - Assess expected technological and market trends in the longer term. - ...
Use this report to: - Analyze various applications of the fiber optic sensor market and market dynamics of each application. - Evaluate growth strategies by key players in the fiber optic sensor market. ...