Global Automotive Traffic Sign Recognition Market 2017-2021
About Automotive Traffic Sign Recognition
Traffic sign recognition allows vehicles to recognize traffic signs and signals and updates the driver about information such as speed limits. It uses the same camera as the advanced driver assistance system (ADAS) and has a high-performance software that recognizes traffic signs. The system senses the traffic signs through the image data captured by the camera and displays them on the dashboard or display panel. It can also compare the speed indicated on the recognized traffic sign with that of the vehicle through a controller area network (CAN) and alert the driver.
Technavio’s analysts forecast the global automotive traffic sign recognition market to grow at a CAGR of 32.03% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive traffic sign recognition market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Traffic Sign Recognition Market 2017-2021
Technavio recognizes the following companies as the key players in the global automotive traffic sign recognition market: Bosch, Continental, Daimler, Delphi Automotive, Mobileye, and ZF Friedrichshafen.
Other Prominent Vendors in the market are: Autoliv, DENSO, Elektrobit, Ford Motor Company, Itzel, Magna International, and Toshiba.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is use of HDR cameras and Ethernet-based ADAS. A traffic sign has various emitter segments that operate at various frequency levels. Sometimes capturing the composite images by cameras that are installed in automotive vehicles may be difficult. This may arise due to capturing successive frames when the vehicle is in motion.”
According to the report, one driver in the market is adoption of autonomous vehicle. Companies such as Continental, Bosch, Audi, Google, Delphi, and Mercedes-Benz are working toward enhancing the autonomous driving concept. Self-driving cars can be a reality toward the end of the forecast period. Technavio believes that the move toward self-driving or autonomous vehicles will fuel the automotive traffic sign recognition market. The adoption of autonomous vehicles can save users' travel time, which can be put into other activities. The global average commute time one way has increased from 40 minutes in 2005 to 50 minutes in 2015.
Further, the report states that one challenge in the market is reading the signboards in harsh weather and obstruction before traffic signs. The visibility of traffic signs may be affected during harsh weather, such as fog and snow. This can also bring down the efficiency of traffic sign recognition. The lighting conditions may also vary in different regions and throughout the day as per the time of the year and weather conditions. This poses a challenge to traffic sign recognition and hinders precise detection. Also, factors such as faded signs, motion blur, lousy lighting geometry, and the presence of obstacles in front of traffic signs can fail the purpose of traffic sign recognition. Sometimes, trees or buildings near traffic signs may hide them fully or partially and act as obstacles to recognition.
Bosch, Continental, Daimler, Delphi Automotive, Mobileye, ZF Friedrichshafen, Autoliv, DENSO, Elektrobit, Ford Motor Company, Itzel, Magna International, and Toshiba.