About Automotive Traffic Sign Recognition Systems
As the name suggests, the automotive traffic sign recognition system enables automobiles to recognize the traffic signal and update the driver on information related to speed limits, among other parameters. The system uses the same cameras that form a part of the ADAS. In addition to this, it includes high-performance software that enhances the capabilities of ADAS for recognition of speed limit signs. The camera used is a front-mounted multifunction monocular camera. The system recognizes traffic signs using image data from the camera and broadcasts the recognized traffic signs on a display panel. Also, it can have an extended use of comparing the recognized speed limit with the vehicle's speed readings with the help of a controller area network (CAN) and then notify the driver.
Technavio’s analysts forecast the global automotive traffic sign recognition system market to grow at a CAGR of 29.83% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive traffic sign recognition system market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of automotive traffic sign recognition systems to the passenger car OEMs and after-market sales.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Traffic Sign Recognition System Market 2016-2020
Technavio recognizes the following companies as the key players in the global automotive traffic sign recognition system market: Daimler, Continental, Mobileye, and ZF TRW.
Other Prominent Vendors in the market are: Bosch, Delphi, Denso, itseez, and Toshiba.
Commenting on the report, an analyst from Technavio’s team said: “An important trend spurring growth is the use of HDR cameras and Ethernet-based ADAS. A traffic sign can have several emitter segments that operate at various frequency levels. The cameras deployed for automotive applications capturing the composite image may have accuracy deficiency because of the several linear frames captured when the vehicle is in motion. The HDR technology that is now being used offers better image sensing capabilities.”
According to the report, autonomous cars becoming a reality will drive market growth. Companies such as Delphi, Continental, Bosch, Audi, Mercedes-Benz, and Google (among others) are working to expand the autonomous driving concept. Such campaigns and promotions have widened the market acceptance of semi-autonomous features in passenger vehicles. Self-driving cars may soon become a reality toward the end of the forecast period. Automotive majors such as Mercedes-Benz and BMW are in advanced levels of achieving such a reality. We expect the move toward self-driving or unmanned vehicles to boost the uptake of traffic sign recognition systems
Further, the report states that factors such as mounting cost pressures on OEMs will act as a challenge for market growth. Automotive OEMs face enormous cost pressures due to dynamic regulations that govern several components within a vehicle. Stringent emission norms, the need for heavy investments in R&D programs, market competition, and evolving customer demands add to this pressure.
Daimler, Continental, Mobileye, ZF TRW, Bosch, Delphi, Denso, itseez, and Toshiba.
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